Commodities investor Jim Rogers has forecast a boom in commodities as demand for raw materials exceeds supply for the next twenty years.
The Rogers Holdings chairman believes the tumbling dollar will usher in a flight towards commodities, the Telegraph writes. He predicted crude will dry up completely in the next 15 - 20 years.
He said as the world economy recovers, commodities will do best. Full story...
THE DOLLAR has risen after US Federal Reserve chairman Ben Bernanke said he would tighten monetary policy when the economy picks up, the BBC reports.
His comments have soothed fears about the inflationary impact of US interest rates sticking at the present levels of between 0% and 0.25%.
Following Bernanke's statement, the dollar upped 0.8% against the yen, and also gained against the pound and euro.
"Accommodative [fiscal] policies will likely be warranted for an extended period," Mr Bernanke said in a press conference at the Fed's Washington headquarters. Full story...
LATVIA'S PRIME Minister Valdis Dombrovskis says the worst of his country's recession is now over, the BBC reports.
He dismissed talk of a devaluation of the Lat and described the Baltic state as being on target to hit European budget deficit limits, predicting Latvia's defict will drop to 10% this year and 8.5% in 2010. Full story...
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