According to the Federal Reserve’s latest economic forecast the US economy could take five to six years before returning to normal growth. The unemployment is expected to hover around 6.8 to 7.5 percent through 2012, which is now at 10.2 percent. Economist David Rosenberg has a very pessimistic outlook towards the economy.
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The Gold Report recently published an interview of Eric Sprott, the great commodity investor. He is the CEO & Portfolio Manager of Sprott Asset Management and Chairman of Sprott Money Ltd.. Eric Sprott has 35 years of experience in the investment industry, after starting as a research analyst at Merrill Lynch. Read his views on the market and the US fiscal policy here
Literally, whatever John Paul touches turns gold. His fixation with gold is exemplified by his gold kitty, a whopping 110 tonnes. John Paul president of Paulson & Co, a fantatastic hedge fund manager has more gold than any other country like Romania, Poland and Australia. In 1994, he founded his own hedge fund with $2 million and two employees and today has a net worth of more than $6 billion, after having made a killing during the subprime crisis. See this chart for more details of his gold holding go here: