Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench

Difference of Opinion

IMG Auteur
Published : January 25th, 2012
451 words - Reading time : 1 - 1 minutes
( 0 vote, 0/5 ) , 2 commentaries
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
2
comment
Our Newsletter...
Category : Crisis Watch

 

 

 

 

Looks like some of the powers-that-be have not had their regular rations of economic Kool-Aid:


"Global Bosses Are Gloomy About the Economic Future" (BBC News)


Companies around the world are getting gloomier about the economic future again, according to an annual survey of global chief executives.


Nearly half of bosses interviewed by accounting firm PricewaterhouseCoopers are forecasting that the global economy will decline this year.


The number of business leaders that are "very confident" their firms will grow has also fallen, from 48% to 40%.


...


The confidence of chief executives "is decidedly down as they deal with the aftershocks to the recession," said Dennis Nally, chairman of PwC International. "The optimism that had been building cautiously since 2008 has begun to recede."


"IMF Cuts Growth Forecast; Sees Recession" (Bloomberg)


The International Monetary Fund cut its forecast for global growth and warned that the European debt crisis threatens to derail the world economy.


“The epicenter of the danger is Europe but the rest of the world is increasingly affected,” Olivier Blanchard, the fund’s chief economist, said today at a news conference in Washington. “There’s an even greater danger, namely that the European crisis intensifies. In this case the world could be plunged into another recession.”


The fund, in an update of its World Economic Outlook report, lowered its estimate for global growth this year to 3.3 percent from a September forecast of 4 percent. The expansion next year will be 3.9 percent, down from 4.5 percent. The euro area may enter a “mild recession” in 2012 as it shrinks 0.5 percent. The U.S. outlook was unchanged at 1.8 percent growth.


Or perhaps they've simply started paying attention to Financial Armageddon?


Still, there are those who see things differently, including the so-called smart money:


"Goldman’s O’Neill Sees Investors Adopting His Bullish US Stance" (CNBC)


Goldman Sachs’ Jim O’Neill, famous for coining the term ‘BRIC’ to describe the major emerging markets, is bullish on the U.S. economy and, perhaps more importantly, senses more of his colleagues shifting their mood to his more positive tone.


“I spent most of this past week in New York, and to my slight surprise, there appears to be some shift in the mood about the state of life,” wrote O’Neill in his ‘Viewpoints’ letter to clients. “Whether this is because it is the start of the year, asset prices have been perkier or there is some recognition that the U.S. economy and other parts of the world are not as bleak as the second half of 2010 is not so clear. It was certainly quite nice to hear and, in my judgement, is more reflective of what is going on.”


Hmmm, I wonder who's right?


Michael J. Panzner 


 

 




<< Previous article
Rate : Average :0 (0 vote)
>> Next article
Michael J. Panzner is a 25-year veteran of the global stock, bond, and currency markets and the author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes, published by Kaplan Publishing.
WebsiteSubscribe to his services
Latest comment posted for this article
I have been a gold investor for a number of years, with 90% of my portfolio in gold. I started as an amateur and hopefully gained much additional knowledge. I recently sold all of my gold holdings, as I look for the EURO to collapse, driving gold down  Read more
Montana rancher - 1/26/2012 at 5:19 PM GMT
Rating :  1  0
Top articles
Latest Comments
Elizabeth Warren: The 14 Trillio...
02:15sneezy67
Good ideas...good information....but somewhat behind the curve...the water has already gone under the bridge.
Man Grabbed, Crushed to Death By...
00:00user4779
The "lump of labour" fallacy raises its tired old head yet again, mixed in with B-movie-style sci-fi speculation about a terrible robotic future wo...
Max Keiser Interviews GoldCore’s...
03 Julovertheedge
"The IMF said that Greece requires additional bailout funds of around 50 billion euros until 2018 under the current bailout conditions, and slashed...
Greece’s referendum
03 Julend
"History may judge him instead to have played a poor hand very well indeed." I'm quite sure both Macleod and Varoufakis will be quite disa...
Gold Daily and Silver Weekly Cha...
02 Julglasstiger
Jesse, you use the term "could care less" frequently. Is this American speak for "couldn't care less"? Similar I suppose to the ubiquitou...
One more book, Mr. Stockman
02 Juluser4779-1
While it is true that "[Gold standards] were abused, suspended, and ultimately abandoned in favor of a currency that central banks could inflate at...
Panicked Hedge Funds Now Praying...
30 Junovertheedge1
"... and the silly game theory ..." Obviously you have no knowledge of game theory and its applications. Otherwise you wouldn't have used ...
The Gold Standard: Generator & P...
30 Junuser4779
Is it really so bad for Americans that they do not spend their lives labouring on a production line to make mass-produced goods, and have left this...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Gray Rock(Au)GRK.V
Gray Rock Closes Non-Brokered Private Placement
CA$ 0.02+0.00%Trend Power :
Corporate news
PetrobrasPBR
Petrobras to Sell Stake in Bijupira & Salema Fields for $25M - Analyst Blog
US$ 8.83+2.08%Trend Power :
Corporate news
BP plc(Ngas-Oil)BP
BP to Settle Federal, State GoM Oil Spill Claims for $18B - Analyst Blog
US$ 41.29+5.14%Trend Power :
Corporate news
Clean EnergyCLNE
ALLETE Clean Energy Acquires Wind Farm in Pennsylvania - Analyst Blog
US$ 5.37-0.56%Trend Power :
Corporate news
Junex(Ngas)JNX.V
Junex Closes a Portion of its Private Placement for Proceeds of $5 Million
CA$ 0.80+0.00%Trend Power :
Corporate news
Yingli GreenYGE
SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders With Losses on Their Investment in Yingli Green Energy Holding Co. Ltd. of Class Action Lawsuit and Upcoming Deadline - YGE
US$ 1.15-3.36%Trend Power :
Corporate news
Sandspring Res.SSP.V
IIROC Trading Halt - SSP
CA$ 0.12+0.00%Trend Power :
Corporate news
Fortune Minerals(Ag-Au-Co)FT.TO
Receives Notice of Default Under Prepay Facility and Reaches Agreement in Principle to Settle
CA$ 0.05+11.11%Trend Power :
Corporate news
PetrobrasPBR
Indian Tycoon Plans to Invest $2.5 Billion in Brazil Oil and Gas
US$ 8.83+2.08%Trend Power :
Corporate news
Potash Corp.POT.TO
K+S says no basis for talks suggested by Potash Corp
CA$ 39.26+0.98%Trend Power :
Corporate news
Comments closed
  All Favorites Best Rated  
I have been a gold investor for a number of years, with 90% of my portfolio in gold. I started as an amateur and hopefully gained much additional knowledge. I recently sold all of my gold holdings, as I look for the EURO to collapse, driving gold down to levels approaching $100/ounce. That is when we will reinvest and stay invested as the dollar will follow the EURO in being reevaluated to much lower levels...as always...a matter of timing. February and March are the pivot months.
Rate :   1  0Rating :   1
EmailPermalink
An article of this kind is not much of help, conscerning private investment in gold.

I think to be sensible and rational suffice.
Rate :   1  0Rating :   1
EmailPermalink