Copper Is Going Up, America Is Headed for Slow Growth in Its History

Jason Schenker, president and chief economist of Prestige Economics, says that the price of copper is going higher.

"Copper's dynamics are really tied to what's going on with their inventory levels. You see that copper inventory levels in the LME are down almost a 1/3 since the beginning of the year," said Schenker.

Schenker was interviewed by Bloomberg's Tom Keene.

On some less upbeat news, noted economist Robert Gordon said that America is headed for twenty years of the slowest GDP growth in the country's history. The economy will be slowed by all the retiring baby boomers who will move from earning a wage to living off state programs and drawing down their savings.

Gordon also believes that the best of the tech boom is behind us. There is no forseeable event that will have the same profound impact on the economy.