Investing in gold coins could be one option for sluggish economy
A general consensus has emerged that the recession has ended and that the economy is poised for a recovery. However, the strength of that recovery is open to considerable questioning.
Right now, the nation’s unemployment rate stands at 10 percent, and many economists expect that this figure will remain the same throughout 2010 and possibly into next year. This could have a negative impact on things like foreclosures and credit card delinquencies, further undermining the economy.
In fact, this week the American Bankers Association announced this week that a recent survey of bank economists expects the gross domestic product to grow at a 3.1 percent rate in 2010.
While the projected GDP is in positive territory, economist Stuart Hoffman was quoted as saying in the group’s announcement that it would fall short of “the normal rapid economic rebound seen in the first year or so following past deep recessions.”
The ABA also noted that a 3.1 percent GDP would not be sufficient to propel the substantial job growth that is needed to dramatically transform the current economic climate. With that in mind, investments in precious metals and other commodities are likely to remain a desirable alternative to the stock market and similar options.
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