Peter Schiff: Why this Money Should Replace the U.S. Dollar There’s a new universal currency, backed by solid gold. You can use it to make online purchases anywhere in the world. Converting some money to the new currency takes just 5 minutes. You can start with as little as $10…or as much as $10 million. According to CNBC star analyst and Euro Pacific Capital President Peter Schiff, this money could double the value of your savings – automatically – in just 6-9 months. For Schiff’s full analysis and recommendations, please go here.

U.S. GDP Contraction Slows, but the Road to Recovery Will Be Rocky

By Bob Blandeburgo
Associate Editor
Money Morning

While the many of the world’s economies continue to look for signs of growth, the U.S. economy took a big step in the right the direction in the second quarter.

U.S. gross domestic product (GDP) shrank 1% in the second quarter, …

Peter Schiff: Why this Money Should Replace the U.S. Dollar There’s a new universal currency, backed by solid gold. You can use it to make online purchases anywhere in the world. Converting some money to the new currency takes just 5 minutes. You can start with as little as $10…or as much as $10 million. According to CNBC star analyst and Euro Pacific Capital President Peter Schiff, this money could double the value of your savings – automatically – in just 6-9 months. For Schiff’s full analysis and recommendations, please go here.

While the many of the world’s economies continue to look for signs of growth, the U.S. economy took a big step in the right the direction in the second quarter.

U.S. gross domestic product (GDP) shrank 1% in the second quarter, following the first quarter’s 6.4% drop. The $787 billion Obama stimulus package, smaller decreases in business spending …

.S. gross domestic product (GDP) plunged at a surprisingly sharp 6.1% annual rate in the first quarter, marking its worst performance in 50 years, the Commerce Department reported today (Wednesday). The drop was much steeper than the 4.9% annual rate expected by economists and follows a 6.3% tumble in the fourth quarter of 2008. But a look inside the numbers shows that things may not be as bad as they look. Plummeting exports and massive inventory reductions accounted for most of the fall. And increases in government and consumer spending have some analysts convinced the future looks much brighter. “This is one of those good-bad numbers,” Joel Naroff, president of Naroff Economic Advisors Inc. in Holland, Pa, wrote in a note to investors. “Businesses are running about as lean as they possibly can be. It sets up the reality that any sort of ...

By Jason Simpkins Associate Editor Consumer prices rose sharply in July even as home foreclosures spiked, making it increasingly likely the economy will stall in the year’s last half under the weight of soaring unemployment, declining home values and accelerating inflation. Banks foreclosed on 77,295 homes in July, 8% more than a month prior, and 183% more than a year ago, RealtyTrac reported. More than 680,000 homes have been repossessed since the beginning of August 2007. The Consumer Price Index (CPI) jumped 0.8% in July, the Commerce Department said yesterday (Thursday). On a year-over-year basis, the consumer prices climbed 5.6%, their biggest surge since 1991. Usually, price levels decline in the face of slowing economic activity. But that’s not happening this time around. Indeed, soaring commodity prices are causing insidious inflationary forces to take hold, raising the possibility that the U.S. ...