Word: euros
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...markets collapsed late last year, Schiff, who runs the Connecticut-based brokerage firm Euro Pacific Capital, briefly got to bask in the glory of his spectacular call. He ran a victory lap of sorts on the cable news networks. A fan put together a 10-minute YouTube clip of his precrash predictions on CNBC and Fox News--complete with smirking and dead-wrong rebuttals from the likes of Arthur Laffer and Ben Stein--that has been watched more than 1.3 million times. ("What makes that clip so good is not so much me as everybody else," Schiff says. "People like...
...this kind of market-trashing talk. Schiff's 2007 book, Crash Proof: How to Profit from the Coming Economic Collapse, is selling well on Amazon.com His many YouTube videos keep attracting new viewers. He says he's getting more speaking requests than he can possibly satisfy, many from overseas. Euro Pacific still garners new clients. But with a few exceptions--Larry Kudlow brings Schiff onto his CNBC show occasionally, Liz Claman does the same on Fox Business Network, and I'm writing a column about him--he's no longer invited to mainstream discussions of the economy and economic policy...
...some sharp comments about NATO and the nuclear balance. "International security is increasingly threatened by the truly inadequate existing global and regional security architecture, as well as international legal instruments and mechanisms for its security," the paper reads. "Particularly evident is the failure of the security architecture in the Euro-Atlantic region, represented mainly by NATO and the OSCE." At the same time, it slams U.S. foreign policy without actually calling out the U.S. by name, claiming that Russia?s military security is jeopardized ?by the efforts of a number of foreign countries to achieve military predominance, especially with...
...governments are already moving. In March, Madrid pledged $1.3 billion to modernize Spain's tourism infrastructure in a bid to fight off competition from sunshine destinations like Turkey and Egypt, which have become more competitive as the euro has appreciated. In Spain's Canary Islands, where tourism represents upwards of 60% of the local economy, the municipal tourism board recently began a series of seminars to help tourism workers cast off their perceived grumpiness; course materials advise cabbies to "ensure your taxis smell nice and don't drive too fast" and remind hotel staff that, "a smile costs nothing...
...into bargain getaways. The weakening of South Korea's won helped the country attract 7% more tourists last year - a faster rise than any other Asian destination - and so far this year 50% more Japanese tourists have arrived. In Iceland, where the krona has fallen by 40% against the euro and 65% against the dollar since its three major banks collapsed last October, the nation is betting on increased arrivals: this summer IcelandAir will open up new routes to nine cities in Europe and North America. And Visit Britain, the official U.K. tourism body, is running a $2.6 million...