Although I did not know it at the time, my first introduction to Milton Friedman occurred in 1940 when I was but seven years old. We were on the first leg of our escape from the Nazis at the outset of World War II and arrived from Bialystok, the city of my birth, to Vilna—that’s Vilnius, for those who don’t know the Yiddish name of this venerable Lithuanian city. My father, who was first and foremost a mathematics teacher, sat me down to provide my first lesson in economics. The circumstances made the moment historic and memorable. Years later, I had the privilege of relating this ...
الخميس، 9 أغسطس 2012
Euro weakens on speculation sovereign-debt crisis is spreading
Aug. 8 (Bloomberg) -- The euro weakened against its most-traded counterparts as a drop in German industrial production, lower U.K. growth forecasts and ratings cuts for Spain and Italy raised concern Europe’s sovereign-debt crisis is worsening.
The pound strengthened by the most in more than a month against the euro after Bank of England Governor Mervyn King said cutting U.K. interest rates may be counterproductive, damping speculation the ...
Gold prices jump on global easing expectations
Gold futures had a big turnabout in the past 48 hours. From last Friday to this Wednesday, gold futures surged 4.6%. On Thursday, prices slumped 2.8% to $1,588, the biggest one-day drop since early April. This week, gold futures have dropped 2.1%, compared to last week's rise of 3.4%. In the past two days, the S&P climbed 2.3% while the Stoxx went up 2.7%. The EUR/USD rebounded 1% this week while the Dollar Index fell 1%.
Gold prices ...
Gold Price Lower on Europe Expectations
Gold prices fell to four-week lows, and it seems unlikely that additional stimulus will result from this week’s European summit in Brussels. European finance officials are now working on critical measures to ease financial pressure on Spain and Italy.
Gold rallied to the range of $1,585 per troy ounce earlier in the week, awaiting clarity on how Eurozone leaders will tackle ongoing debt issues. Spot market gold prices are currently ...
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