Biden, Ryan Scuffle on Economy in VP Debate

(AP) DANVILLE, Ky.
Vice President Joe Biden says Paul Ryan and Republicans must take responsibility for obstructing the economic recovery.

Biden says in the vice presidential debate that Ryan, the House Budget Committee chairman, has stood in the way of making middle-class tax cuts permanent and helping struggling homeowners. He says Ryan and Mitt Romney shouldn't talk about how they care about people until they're ready to pitch in.

Ryan says this isn't what a real recovery looks like. He points out that unemployment in Biden's hometown of Scranton, Pa., is at 10 percent, compared to 8.5 percent when Biden and President Barack Obama took office.

Ryan says Biden and Obama want to raise taxes on small businesses, while he and Romney want to help struggling Americans get good jobs.

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The past several months have seen the price of gold slump even as the Fed and other central banks have accelerated their massive expansion of paper money. Gold is off about 20% so far this year with silver down almost 30%. The old adage--“don’t fight the Fed”--particularly comes to mind now because the US equity markets have been setting new highs during this same period. All of these gains are nominal, you understand, but for terrified American policy makers and investors, nominal is just fine.

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