Money Fest

The recent buzz around gold and other precious metals has caused many people to sell their scrap jewelry and has given rise to a host of different gold peddlers, all vying for a piece of the recently renewed gold market.  This gold bull market may well last a few more years, given that the global economic recession still hasn’t been sufficiently reversed to create many more jobs.  But according to Jeff Christian, founder of the CPM Group, energy demands will far outpace supply as soon as an economic recovery is underway.  With this in mind, savvy investors should be looking to energy stocks and related commodities as excellent potential long plays once the recovery begins to slowly make its way to the global stage.

 

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The Europeans may be doing well in the World Cup, the finals is an all European event, between Spain and Holland, but on the global economic field, Europe is not doing so well.

This mornings Washington Post reports that the International Monetary Fund ,(IMF), said, Wednesday, yesterday, that the USA and the emerging Asian and Latin American countries economies remain on track.The IMF is critical Europe's performance,. and cites Europe's slow growth, heavy debt, and troubled banks, that lack sufficient capital. A red card for Europe.IMF says that Europe is top threat to global recovery. Europe's problems could lead to "substantially lower global demand."

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The Associated Press reports that, "Federal prosecutors in New York have been examining transactions by Goldman Sachs Group Inc., accused of fraud by US securities regulators, to determine whether to pursue a criminal case,"

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Steven PearlsteinThrough the clear eyes of plain common sense, Steven Pearlstein in today's Washington Post looks at those Wall Street sharpies who are lining up to defend the good old boys at Goldman Sachs in its rumble with the SEC. Mr.  Pearlstein writes, "Wall Street's know-it-alls can't tell right from wrong. --  I honestly don't know whether Goldman violated Section 10(b) of the Securities Exchange Act of 1934. What I do know is that the facts outlined in the government case are a powerful and convincing reminder of Wall Street's complete and utter amorality. There, concepts like truth, justice, fairness, trustworthiness, duty of care, right and wrong are now totally without meaning. There is only buy or sell, long or short, win or lose."

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