Welcome to Capital Account. The Eurozone Purchasing Managers Index (PMI) points to a European recession, according to Markit Economics. Meanwhile a successful bond auction in Spain brought lower than expected yields. Is Europe on a “choose your own disaster” track? Fresh off his appearance predicting $7,000 gold on the latest Keiser Report, we talk to our guest co-host, Jim Rickards, Senior Managing Director at Tangent Capital Partners, and John Mauldin, President of Millennium Wave Advisors, about Europe’s fiscal future.
And while we deride the Fed for launching QE3, Japan has launched QE 8. This is the eighth round of easing as Japan’s twenty year slump drags on. We talk to Jim Rickards and John Mauldin about QE and the risk of inflation, interest rate dislocation and the big bang!