http://blogs.reuters.com/james-pethokoukis/2009/11/05/obamanomics-big-government-inflation-and-the-price-of-gold/ Politics and policy from inside Washington Sun, 07 Apr 2013 21:23:48 +0000 hourly 1 http://wordpress.org/?v=3.4.2 http://blogs.reuters.com/james-pethokoukis/2009/11/05/obamanomics-big-government-inflation-and-the-price-of-gold/comment-page-1/#comment-3782 Bill, Fairfax, VA Thu, 05 Nov 2009 19:22:43 +0000 http://blogs.reuters.com/james-pethokoukis/?p=2521#comment-3782 Gold is only one signal among many that informs economic policymakers. When the economy is performing significantly below capacity, when unemployment levels are uncomfortably high and expected to remain so, when the spectre of deflation remains a possibility however slight, why do some OBSESS over the price of gold? The nascent recovery in the economy looks quite fragile thus far, so why take any chance at all of further impeding that recovery by defending the dollar now or reducing deficits now on the altar of blind homage to gold? Yes, gold may well be signaling problems in the future. But we have to survive the present before we even get to that future. So screw gold, let's get back on the path to sustainable economic growth. Then we'll be strong enough to respond to what gold may be telling us. Gold is only one signal among many that informs economic policymakers. When the economy is performing significantly below capacity, when unemployment levels are uncomfortably high and expected to remain so, when the spectre of deflation remains a possibility however slight, why do some OBSESS over the price of gold? The nascent recovery in the economy looks quite fragile thus far, so why take any chance at all of further impeding that recovery by defending the dollar now or reducing deficits now on the altar of blind homage to gold? Yes, gold may well be signaling problems in the future. But we have to survive the present before we even get to that future. So screw gold, let’s get back on the path to sustainable economic growth. Then we’ll be strong enough to respond to what gold may be telling us.

]]> http://blogs.reuters.com/james-pethokoukis/2009/11/05/obamanomics-big-government-inflation-and-the-price-of-gold/comment-page-1/#comment-3777 Lauren Thu, 05 Nov 2009 17:33:06 +0000 http://blogs.reuters.com/james-pethokoukis/?p=2521#comment-3777 Despite what public opinion is, the weakened US economy is weakening the dollar, and the only way to pull the economy up by its boot straps is saving and investment from the American public.http://www.newsy.com/videos/wall_street_s_gold_rush Despite what public opinion is, the weakened US economy is weakening the dollar, and the only way to pull the economy up by its boot straps is saving and investment from the American public.http://www.newsy.com/videos/wall_ street_s_gold_rush

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