In: Gold. Peter Monk told Bloomberg recently: "Do I personally believe gold will break through $1,000? It’s not a question of if, it’s a question of how soon." And analysts at Genuity Capital Markets have noted that gold has been trading more than US$200 per ounce above its normal value relative to the dollar. From USA Today:
"Auto sales have plunged the past 12 months. Home sales? Nothing good to report there, either. And if you're trying to sell $5 cups of coffee these days, well, good luck with that.
"But in this recession-racked world one thing is selling: gold.
"'We're selling 10 times the amount we were selling a year ago,' says Arthur Blumenthal, representative for Stack's, a Manhattan bullion and coin dealer. Even as department stores slash prices, the price of gold has soared from a low of $713 in October. Wednesday, as the Standard & Poor's 500-stock index fell 0.75 points, gold leaped nearly $11 to $977.70 an ounce.
"The sizzle in this steak: fear. Terror that the economic system will collapse."
Today the largest gold producer in the United States, Newmont Mining Corp., posted 4Q profit topping analysts’ estimates after prices gained.
(image via dyfuse)
Out: Defending Chris Brown. Are there people who are defending Chris Brown? Other than his sister, his cousin and his aunt, we mean (family always sticks by family). From Musto:
"In a masochistic mood, I googled 'defend Chris Brown' the other day and came up with a ton of material showing that many starstruck fans and friends of the singer have been enthusiastically rallying to his side after his reported beating of Rihanna made headlines.
These weirdos are turning backflips to find any reason that could justify, excuse, or wipe away the horror of this high-profile abuse case. Everything from 'It takes two to argue' to 'She provoked him' to 'He's not a violent guy' to 'Maybe it didn't really happen.'
I guess their starry-eyed feelings for Rihanna pale next to their need to vindicate an equally famous male brutalizer."
We are over this type of boorish behavior, no? Let the age of "Sully" and "Obama" and the new manliness begin! Full column here.
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