Stock Market
Geezer Investing
By Doug French | Published Wed, 09/13/2006 - 6:22am
It is not unusual to hear about the virtues of hard money and the evils of the paper variety at a gold conference. However, Austrian business cycle theory is rarely cited given the audience is only interested in hot stock tips. But at the Las Vegas Hard Assets investment conference held last week at Mandalay Bay Resort & Casino, the Austrians were mentioned prominently in two separate presentations.
Keynote speaker John Dizard, columnist for the Financial Times, told the gold crowd that Austrian economists believe in "free markets and evidently, bow ties." He admitted that he was initially skeptical of the Austrian argument but has since come around. Austrian business cycle theory is based on intertemporal misallocation of resources. Excessive credit creation lowers interest rates below the natural rate, spurring malinvestment.
Trouble Ahead for Junior Uranium?
By Doug Casey | Published Wed, 04/19/2006 - 10:35am
As Casey readers know, I’ve been bullish on uranium for almost eight years now. And despite the fact that uranium has more than tripled, I continue to like it today almost as much as when I was a lone voice in the woods.
