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"The current downturn beginning in 2008 is more pronounced," Steven Landefeld, director of the Commerce Department's Bureau of Economic Analysis, said in a press briefing this week. The revisions were in line with past experience in which initial figures tended to underestimate the severity of contractions during their early stages, he said.

I can not help but be reminded of the 1973 science fiction movie, Soylent Green (MGM Production-based upon the novel, Make Room! Make Room! By Harry Harrison), in which a society running out of resources resorts to mercy killing of the elderly and ultimately uses them for a food source. In that society, participants were convinced there was a high value in undergoing a short lived wondrous death experience and a low value in living a life as an elderly disabled or in-firmed nonproductive citizen.

Introduction: Bob Chapman has been writing and analyzing the precious metals field for decades. As one of the largest gold brokers of the 1970s, Bob experienced the ins and outs of the industry at the highest levels and this experience has stood him in good stead. As the composer of the International Forecaster, Bob provides a savvy and often controversial take on how the industry works today and where precious metals are headed.