Merryn on Money
I HAVE been reading two interesting publications this week. The first comes from Capital Economics and is called Global Inflation Watch. This is interesting mainly because of the title – who’d have thought even five years ago, when as far as most commentators were concerned rising prices were a thing of the past, that any research groups would ever bother to devote an entire 40-page report to worrying about the subject.
The second is the New Scientist, which pretty much sums up the reason why the price of almost everything is on the up with its headline: World Stripped Bare.
The basic premise here is that we are using up the world’s resources, and its minerals in particular, at a most alarming rate. If the world keeps consuming metals at its current rate we have a mere 45 years of gold left, 46 years of zinc, 29 years of silver and 59 years of uranium.
If the rest of the world catches up with America and starts consuming these minerals with the same enthusiasm, things look worse: there is only 19 years’ worth of uranium, less than 10 of silver, 36 of gold and 34 of zinc.
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Monday, 11 June 2007
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