Global
Economic Plunge, Money Creation & Soaring Gold
13
September, 2012
Today
Mish warned King World News that investors should prepare, “... for
a big plunge in economic growth worldwide.” Mish also said that
despite the plunge in the global economy, “I expect to see gold
breakout to the upside and I think we are starting to see that right
now. The same thing is true for silver.”
But
first, here is what Mish, who runs the Global Economic Analysis site,
had to say regarding the plunge in economic activity: “We are
seeing a decline in the global economy. China has slowed down
dramatically, so any commodity exporters which export to China are
slowing down as well. We’re already seeing this happen in
countries like Australia. We are also starting to see the Australian
housing market begin to crash.”
Mish
continues:
“We
have seen a plunge in the price of steel, down over 50% from the
peak, and one analyst is expecting a further 50% drop in the price of
steel. We are seeing problems surface in Italy. Yesterday, reports
of the slowdown hit Canada. There was a huge drop in Canadian
exports across the entire board.
The
decline in exports hit all of the major categories, autos, energy,
agriculture, forest products, machinery and equipment products. The
overall drop was 3.4%, but there was an even bigger drop of 5% in
exports to the US....
For
the interview GO
HERE
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