Off the Cuff: The Calm Breaks
In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris discuss:
- Europe begins to turn on itself
- The battle for political union has begun
- The dangerous erosion of our human capital
- Too many out of work for too long
- Gold's prospects
- Set to shine?
We're beginning to see a departure from the calm summer the world has enjoyed. With the distraction and global camaraderie of the Olympics behind us and the ever-growing mountain of unaddressed problems ahead, changes are afoot. In Europe, Germany is standing firm on its demands for more political union before agreeing to further fiscal measures – and left-leaning socialist leaders are uniting in opposition. In countries like Greece and Spain (and to a certain extent the U.S.), the protracted unemployment among younger workers threatens to create a "lost generation" where skills, aptitude, and motivation atrophy to the point where national social capital becomes permanently impaired.
Chris and Mish discuss the prospects for the precious metals. This conversation was recorded before Bernanke's comments today in Jackson Hole – though they appear to have since proved prescient.