The Year Of The Vaccine
Advertisement
January 06, 2021
As 2020 came to a close and the new year opened up, Covid-19 infection rates went soaring again in a second wave that included a new, apparently more contagious, strain of the virus.
Nevertheless, at the same time, a wave of optimism washed through world economies as vaccine excitement took hold, especially in the West. In December, the Pfizer-BioNTech vaccine got emergency approval and the EU, UK, US and Canada opened vaccination campaigns. News of government approvals and successful trials, video of frontline workers and political leaders getting injections, and above all the prospect of returning to business as before, inspired some revisions to growth forecasts. Capital Economics, for example, lifted its estimate for 2021 world GDP to 6.8%.
James Rickards talks with Jay about his new book, “
Jim Rickards is a lawyer, investment banker and economist with over thirty years’ experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on financial news programs, Rickards is also the author of The New York Times bestselling novels Currency Wars: The Making of the Next Global Crisis and The Death of Money. His latest book is The New Great Depression: Winners and Losers in a Post-Pandemic World.
Five time. best-selling financial author James Rickards new book titled “The New Great Depression” is predicting rough times for the U.S. economy, but not every asset will be a loser. Rickards says, “In August of 2020, gold hit a new all-time high. Silver is not at an all-time high, but it has performed very well. Actually, if you break down asset classes with silver, gold, stocks, bonds, oil, etc., the number one performing asset class was silver, and the number two was gold. Silver was up about 47%, and gold was up about 25% give or take. Gold and silver outperformed stocks and all of the other asset classes, but they are going to go a lot higher and they have to. . . . Gold is going to $15,000 per ounce, and by the way, that is my forecast. . . . Silver will be three figures (or at least $100 per ounce.) Deflation is a bigger problem than inflation, and everybody hates inflation, but you need inflation . . . . What you have to do is inflate the debt away. The debt is $22 tri
New Great Depression Coming In 2021 – Jim Rickards zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.