Joined: Jan 26, 2005
Posts: 1060
Location: West Palm Beach, FL
Posted:
Fri Jan 05, 2007 6:45 am
Hi,
I found a great podcast where a bunch of economists and financial analysts talk about the themes of 2006:
1. Inflation in goods reflected in rising commodity prices
2. Rising global liquidity
3. A good year for all asset classes
4. Rise in leverage and speculation
5. The rise and fall of U.S. interest rates
6. A weakening U.S. economy
7. The rise in energy and precious metals
8. The coming resource wars
9. The Bernanke Fed
10. The U.S. Dollar
Jim Puplava and his guests favor the Austrian school of economics but they talk about the Keynesian biases of tinkering with the economy. They are are highly critical of the Federal Reserve which is responsible for inflation.
Part 1 - 1st hour there is a good debate starting around the 38 min mark between Diane Swank (Keynesian bias) and Peter Schiff (Austian school bias) on inflation and the effects on different markets and a peanut gallery in between with the radio hosts.
Basically the hosts are saying that the US is a bubble economy where the inflation causes bubbles - in the 90s it was stocks and early 00 it was the housing market. They feel the next bubble will be in other asset bubbles like equities and commodities. Investing in large cap stocks and precious metals would be the next big rush.
They talk about fiat currency and how all countries are based on it. Global inflation has gone up and reflected in a housing booms worldwide. The US dollar will weaken but most countries don't want that to happen because it will ruin their economy.
Highly recommended and educational for those who don't have much of a background in economics. A few guest on the show are pessimistic on the state of the ecomony and that's what I feel too. The skill (or luck) of making a lot of money is to figure out where the next asset bubble will go.
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