06/01/06 In terms of real effect, though, I think the return of a Goldman head to Treasury actually increases the odds of a “soft landing,” or at least the illusion of one.
With a savvy poker player like Paulson at the helm, Washington will fare better in the stealth reflation game. Smooth Hank will surely be able to “explain” things to Japan’s central bankers and China’s lever pullers in a way that bumbly-fumbly old Snow never could.
Marc Faber‘s commentary to Bloomberg last month may prove prophetic:
“If the Dow Jones goes up three times in the next 10 years, I think gold prices will go up by a minimum 10 times to something like $6,000 an ounce.”
Dave Gonigam
Treading a fine line between contrarian thinking and conspiracy theory, Dave Gonigam explores the nexus of finance, politics, and the media for Agora Financial's 5 Minute Forecast. He joined kindred spirits at Agora Financial in 2007 after a 20-year career as an Emmy award-winning writer, producer, and manager in local TV newsrooms nationwide.
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I just added a ton of $950 calls for December; they’re cheap indeed. Guess I can go back now and add $6,000 calls for 2016 at a discount. “Bumbly Fumbly Snow!” I love it. Nice epitaph for him, Justice.