The U.S. “economy is not dead but facing strong headwinds.”
That was the headline from a CNBC interview with Randall Kroszner, a former Federal Reserve governor (from 2006-2009) and current economics professor at the University of Chicago.
Kroszner’s comments came just after the disappointing ISM report, which helped send U.S. equity markets from a near 150 point gain in the Dow Jones Industrial Average (DJIA) into negative territory.
The U of C professor attributed a portion of the economy’s weakness to fiscal and regulatory uncertainty stemming from Washington, D.C.
Not surprisingly, he failed to lay any of the blame with the Federal Reserve – despite the fact that the central banks’ monetary policies and micro-management of interest rates have contributed significantly to numerous financial bubbles and distortions in the global economy.
San Gold Posts Record Gold Production
Gold production in the second quarter of 2011 benefited from approximately 80% of the milled tonnage being sourced from the generally lower cost and higher grade Hinge and 007 mines. San Gold noted that the Hinge and 007 mines are expected to continue to be the primary source of ore at the Company's Rice Lake Mill for the foreseeable future. Full San Gold Press Release.
