Showing posts with label Consumers. Show all posts
Showing posts with label Consumers. Show all posts

Sunday, April 24, 2011

Report Bad Products To FDA

You break out in red rashes after using a sunscreen. Your daughter gets itchy and blotchy after applying makeup. That expensive hair relaxer your wife loves burned her scalp.

Who do you complain to … the store that sold the product to you, the manufacturer who made the item, or do you and your family suffer in silence?

If you’ve had a negative reaction to a beauty, personal hygiene, or makeup product, the U.S. Food and Drug Administration wants to know your story.

Why? FDA action could save others from suffering the same fate.

Every day Americans depend upon personal care products. Most are safe, but some cause problems, and that’s when FDA gets involved.

“Even though these products are widely used, most don’t require FDA approval before they’re sold in stores, salons, and at makeup counters,” says Dr. Linda Katz, director of the agency’s Office of Cosmetics and Colors.

“So, consumers are one of FDA’s most important resources when it comes to identifying problems.”

Defining Cosmetics

The federal Food, Drug, and Cosmetic Act defines “cosmetics” as products intended to be applied to the body “for cleansing, beautifying, promoting attractiveness, or altering the appearance.”

But the legal definition includes items that most Americans might not ordinarily think of as cosmetics, including:

•Face and body cleansers
•Deodorants
•Moisturizers and other skin lotions and creams
•Baby lotions and oils
•Hair care products, dyes, conditioners, straighteners, perms
•Makeup
•Hair removal creams
•Nail polishes
•Shaving products
•Perfumes and colognes
•Face paints and temporary tattoos
•Permanent tattoos and permanent makeup


What To Report

Katz says consumers should contact FDA if they experience a rash, hair loss, infection, or other problem — even if they didn’t follow product directions.

FDA also wants to know if a product has a bad smell or unusual color — which could signal contamination — or if the item’s label is incomplete or inaccurate.

If you have any concerns about a cosmetic, contact MedWatch, FDA’s problem-reporting program, on the Web or at (800) 332-1088; or contact the consumer complaint coordinator in your area.

When you contact FDA, include the following information in your report:

•Name and contact information for the person who had the reaction;
•Age, gender, and ethnicity of the product’s user;
•Name of the product and manufacturer;
•Description of the reaction—and treatment, if any;
•Healthcare provider’s name and contact information, if medical attention was provided;
•When and where the product was purchased.


FDA scientist Wendy Good advises to give the age, gender, and ethnicity of the person who had the reaction.

Good, who analyzes reports about problems with cosmetics, says that information is important because it can help scientists spot trends.

When a consumer report is received, FDA enters the information into a database of negative reactions. Experts then look for reports related to the same product or similar ones.

FDA scientists will use the information to determine if the product has a history of problems and represents a public health concern that needs to be addressed.

If you file a consumer report, your identity will remain confidential, according to the FDA.

“Cosmetics are usually safe, but when they aren't, consumer reporting is essential so FDA can take action when appropriate,” Katz says.

Those actions could, depending upon the product and the problem, range from issuing a consumer safety advisory to taking legal action.

Safety Comes First

While WMB generally believes in smaller government and limited controls, we see consumers benefiting from interaction with the FDA.

Privacy concerns should take a back seat when the public’s safety is put at risk.

The FDA serves the public interest in a watchdog role. However, it needs good information to do its job and protect consumers.

As always, WMB advocates consumer activism. Nothing will be achieved by our silence.

Ken Cocuzzo

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Thursday, April 7, 2011

New 3D Game Tech Arrives

Nintendo, the largest independent gaming company in the world, is leading the way with a new portable system featuring a three-dimensional display. Enjoy video games without 3D glasses!

The Nintendo 3DS lists for $249.99 and is the first game system with 3D-screen tech available to consumers.

Some, however, see this product as a significant risk for Nintendo because of market perception and development costs.

3D also brings back some bad memories for Nintendo of its massive 1995 flop – Virtual Boy, a product which used stereoscopic 3D technology in a harsh red and black display. It gave gamers headaches after only a few minutes.


But WMB views the new 3DS as a well-executed handheld gaming system which boasts an effective and compelling display. Judging by sales records, consumers seem to agree.

New And Different

The 3DS is a smooth, plastic, clamshell rectangle with dual screens, a direction pad, and various control buttons. But it’s the small details that matter. When you start counting them on the 3DS, it quickly becomes a new and different animal.

The most notable physical differences compared with its predecessors are the analog control pad, the larger, upper 3D screen, and the two-lens 3D camera. From a playing perspective, the analog pad is the best addition to the 3DS, according to industry reviews.

It’s a concave rubber circle which can slide around in a circular area, similar to Sony’s Playstation Portable. But it’s much more comfortable than the PSP since it sits naturally under your thumb and offers just the right control.

The top screen display is what gives the 3DS its name. It’s a wide-angle, 3.5-inch, glasses-free 3D LCD using a special visual filter to send two different angles of view into your eyes.

The unit is 0.7 x 5.3 x 2.9 inches (HWD), 8.3 ounces and is offered in “aqua blue” or “cameo black.”

Under The Hood

Beyond the external designs, the 3DS has additional power and is capable of supporting higher-resolution graphics.

But the 3D screen requires more power and, consequently, the 3DS only has a battery life of about five hours. To charge, the 3DS can be placed in a cradle; however, it’s not an inductive charger.

Nintendo also includes a set of augmented reality cards for use with its preinstalled AR Games app on the 3DS. A set of six cards featuring Nintendo characters work with the AR Games app to produce an augmented reality effect.

The user places a card on the table, points the camera to it, and AR Games makes 3D statues of Mario, Samus, or Link, jump right out of the table. Another game called Face Raiders, comes preinstalled; you can take (pictures) of your face and turn them into evil robots.

Think of the implications: A simple game is now capable of rendering 3D images of the user – astounding!

Nintendo has announced several new wireless and online features and services for the 3DS. This includes the SpotPass function for quickly connecting at Wi-Fi hotspots. This function also can share data with nearby users, including a Virtual Console with classic NES games with 3D effects.

Further, Game Boy, Game Boy Color, Game Gear, and Turbo-Graffix-116 titles are available for download.

The Bottom Line

Glasses-free 3D has been the dream of millions who have been frustrated and irritated by wearing cheap, uncomfortable plastic glasses at a theater, or heavy, expensive active-shutter 3D glasses at home to view 3D content of compatible HDTVs.

Companies have tinkered with glasses-free 3D products in the past but many, including WMB, think Nintendo is on to something. It actually works!

The effect is still far from perfect, but the 3DS screen stands as the best glasses-free 3D display you’ll find on the consumer market today.

TechMan

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Thursday, March 24, 2011

Driving Home The Future

New battery technology for automobiles offers hope for consumers worldwide, especially with energy concerns arising from the revolution in Libya and the earthquake-tsunami in Japan.

Though better batteries are emerging as alternatives to fossil fuels, the weight and size of the batteries remain issues. Car manufacturers and scientists are developing new polymeric composites to reduce weight and free space.

The composites carry structural loads and store electrochemical energy. New electrode and electrolyte materials are being synthesized to optimize these properties.

To date, research continues on the development of solvent-free structural polymer electrolytes based on vinyl ester resins, along with carbon nanotubes. These materials exhibit a combination of strength and ion conductivity.

Using new resin electrolytes, the components are being integrated using moldable, scalable, and cost-effective processing techniques.

Cheaper Carbon Composites?

Carbon composites, extremely strong and light, are used in products ranging from tennis racquets to aircraft wings. Even some exotic cars are built with this material, but it is generally too expensive for mass-produced vehicles.

With the ability to store energy, carbon composites could become a lot more attractive for the automotive industry, according to Emile Greenhalgh of Imperial College, London.

Greenhalgh is leading the research as part of a broader European Union project studying the incorporation of different battery materials into the bodywork of cars.

The study encompasses academic and industrial partners, including the British Ministry of Defense, and Volvo (owned by Ford). The military is interested in extending the range of robotic drones and other light-weight applications.

How It Works

Greenhalgh’s material consists of woven sheets of carbon fibers which are made rigid using a resin.

To enable the material to store electrical energy, two layers of woven fibers are made into a sandwich, separated by a thin layer of a glass-based insulating material.


The resin with the carbon layers is laced with lithium ions to collect in one layer when a voltage is applied. The current flows when the sandwich is placed in a circuit. All of this is encapsulated with further layers to ensure it’s electrically isolated.

The composite behaves more like a capacitor or supercapacitor than like a battery, according to Greenhalgh.

Batteries are good at storing large amounts of charge but slow at delivering it. For capacitors, the reverse is true.


Supercapacitors have a large internal surface area which allows a large amount of energy to be delivered rapidly.

These may be used in some electric cars to provide a short burst of power for rapid acceleration. In hybrids, supercapacitors are used to recover power during braking.

To get similar characteristics from composites, the carbon fibers are first chemically treated with an alkali to create tiny pits on their surface.

This dramatically increases their surface area and the amount of charge they can hold without impairing the physical strength of the material.

Conflicting Resin Needs

Another challenge lies in resolving the two conflicting requirements of the resin.

“You want it very rigid and stiff, but from an electrical point of view you also want it to allow ions to flow through the material,” Greenhalgh says, noting with traditional resins you typically get one or the other.

Greenhalgh’s solution uses a polymer gel-based resin which combines two networks of cross-linking structure. One holds the material together and the other provides a conduit for the charged particles.

If the electrical storage composites can be boosted close to that of lithium-ion batteries, then only the roof, the bonnet and the boot lid are needed to power an electric vehicle for 130 km, according to inventor Per-Ivar Sellegren.

Sellegren, a Volvo senior engineer, is credited with the company's cutting-edge body panel battery technology.

Extended Power Factors

The composites also can be used to reduce the amount of wiring in vehicles, Greenhalgh says. The rear lights could then be powered by this material.

Compared with most rechargeable batteries, super-capacitors tend to have longer working life.

That’s an obvious benefit since most drivers of electric cars have not had their vehicles long enough to incur thousands of dollars to replace worn-out batteries.

From WMB’s vantage point, if you drive an electric car, you shouldn’t have to pay higher maintenance costs to reduce your carbon footprint.

TechMan

Sunday, January 16, 2011

Online Tracking, No Thanks

As independent-minded consumers, Internet users have no interest in being tracked by online advertisers, based on the findings of a recent Gallup poll.

Major marketers such as AT&T are increasingly tracking users' habits on the Web so they can better deliver specific ads to specific kinds of people, according to AdAge.com.

The practice, known as behavioral targeting, has come under a renewed government scrutiny, specifically by the Obama administration and the Federal Trade Commission.

Asked if advertisers should be allowed to match ads to people's specific interests based on other websites they've previously visited, a clear majority of 67% said no, compared with 30% who said yes.

Marketers defending behavioral targeting argue, in part, that the public might not understand how much this advertising fuels free websites.

“Because there's been so much scare-mongering, people have been frightened about behavioral advertising,” says John Montgomery, chief operating officer of GroupM Interaction, a unit of WPP. “People are now equating it to something more pernicious.’’

What We Do

As a FREE subscription blog, WMB uses Google Analytics to determine which topics trend higher in viewership.

For example, our posts on stem cell research are the all-time “hit” leaders for WMB, and we introduced ChinaWatch, a weekly news digest, based on perceived growing interest in our nation's chief economic competitor.

WMB has Google advertising that “reads” our post content to help customize ads you may or may not be interested in seeing. We do not share your e-mail addresses or seek third-party sponsors (disclaimers are in the blog sidebar).

We offer this disclosure to assure you this blog’s two authors, free-lance writer Ken Cocuzzo and TechMan (tag name for employment reasons), respect and value your privacy as much as our own.

Gov't As Watchdog

The Obama administration and the FTC recently issued reports on the need for the industry to better regulate how advertisers track and target people online.

A recent U.S. Commerce Department report suggests creating a “privacy bill of rights” as well as a privacy policy office that would work with the FTC, the President, and other government bodies to protect online consumer privacy.

“America needs a robust privacy framework that preserves consumer trust in the evolving Internet economy while ensuring the Web remains a platform for innovation, jobs, and economic growth.

“Self-regulation without stronger enforcement is not enough. Consumers must trust the Internet in order for businesses to succeed online,” Commerce Secretary Gary Locke says.

Do Not Track

The FTC suggests the implementation of a “Do Not Track” mechanism (modeled after the national Do Not Call list targeting telemarketers) that would sit on web browsers and monitor which advertisers can and cannot keep track of people, based on their preferences.

Opponents of a Do Not Track list say it could dramatically decrease the effectiveness of online targeted, or behavioral, advertising.

“Despite some good actors, self-regulation of privacy has not worked adequately and is not working adequately for American consumers,” FTC Chairman Jon Leibowitz says. “We deserve far better from the companies we entrust our data to, and industry as a whole needs to do a far better job.”

The FTC will make policy recommendations and “take action” against companies that violate consumer privacy, “especially when children and teens are involved,” Leibowitz says.

Microsoft and Mozilla, makers of the Internet Explorer and Firefox web browsers, say they are working on a “Do Not Track” feature.

Microsoft recently introduced a function for the latest version of Explorer that lets users build lists of sites with which they don't want to share information.

The industry has a self-regulatory plan in place, called About Ads, which released its opt-out form a few weeks ago. GroupM, for one, plans to offer the program's opt-out icon to its list of around 200 clients which rely on behavioral targeting.

The Final Say

While WMB generally does not favor U.S. government regulation of the Internet, we do believe in consumer privacy protection.

This much is certain: We cannot depend completely on industry self-policing, and consumers deserve the final say in how much they reveal online.

Ken Cocuzzo

Sunday, January 9, 2011

Our Gas-Guzzling Days Over?

You could chalk it up to heavy job loss during the Great Recession or simply higher prices for gasoline, but America’s gas-guzzling days are now in the rear-view mirror, experts say.

Looking down the road to 2030, Americans will burn at least 20 percent less gasoline than today, experts say, even as millions more cars hit the highways.

After seven decades of growth, U.S. gasoline demand is at the start of a long-term decline, the Associated Press reports. America is No. 1 now in gasoline consumption followed by China.

Our thirst for gasoline is shrinking as cars and trucks become more fuel-efficient, the U.S. government mandates the use of more ethanol, and consumers drive less.

“A combination of demographic change and policy change means the heady days of gasoline growing in the U.S. are over,” says Daniel Yergin, chairman of IHS Cambridge Energy Research Associates and author of a Pulitzer Prize-winning history of the oil industry.

This isn't the first time in U.S. history that gasoline demand has fallen, at least temporarily. Drivers typically cut back during recessions, then hit the road again when the economy improves.

The Great Recession – December 2007 to June 2009 – was the main reason demand fell sharply in 2008. Today, with gasoline prices averaging more than $3.15 per gallon for regular, many drivers are rethinking their habits and trips to save money.

History and habits aside, the future of U.S. gas consumption looks vastly different, with government and industry officials insisting gasoline demand has peaked for good.

It has declined four years in a row and will not reach the 2006 level again even when the economy fully recovers (which some experts, including U.S. Federal Reserve Chairman Ben Bernanke, say may be years away). The decrease was on the horizon long before the recession.

The 2001 terrorist attacks, the war in Iraq, Hurricane Katrina, and pump prices rising to a nationwide average of $3 a gallon for the first time in a generation reignited public debates about the political and economic effects of oil imports and climate changes.

Also, the popularity of gas-guzzling sport utility vehicles began to wane, and the government started requiring refiners to blend corn-based ethanol into every gallon of gasoline.

Why We’re Pumped

We, at WMB, see this dramatic decrease in gasoline demand by U.S. consumers as a positive sign that Americans whatever the reason – conserving personal finances, helping the environment, increasing telecommuting options – are finding usage alternatives.

While America's diminishing demand will temper global use, it will be more than offset by rapidly growing demand in China, India, the Middle East and Africa, experts say.

As a result, declining U.S. gasoline demand will not bring lower pump prices for consumers, according to the AP.

Still, we have known since the gasoline shortages and station lines of the early 1970s that America’s dependence and growing appetite for foreign oil would ultimately lead to a dead end.

By continuing to cut our gas demand, we can move forward – financially and environmentally – even if we’re no longer king of the road.

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Thursday, January 6, 2011

Facebook Tops Google

Facebook has topped Google.com in traffic for the first time in Internet history, with Mark Zuckerberg’s social networking creation spending nearly all of 2010 as the most visited website in the United States.

Facebook edged out Google with 8.9 percent of all U.S. visits between January and November 2010 (second-place Google had 7.3 percent), according to Experian Hitwise, an Internet measuring service.

Google dominated the top spot as the most visited site in America during 2009 and 2008. MySpace was the No.1 visited site in 2007; it’s now No.7.

From the big picture, 68 percent of Canadians use the Web. This is believed to be the highest penetration in the world, according to comScore, an Internet measurement company tracking global access.

France and Great Britain have equal ranking of 62 percent, followed by Germany, 60 percent, and the United States, 59 percent. About 17 million Canadians, or 53 percent of the population, have Facebook accounts.

We, at WMB, believe the stats are telling because they show millions of consumers have access to social networks and potentially just about any business with an interactive Web presence.

Web comments people make about products, services, and companies is input from consumers, who have direct exposure or experience, or know someone who has it.

Facebook and Twitter see the highest adoption rate in social media and marketing, while customer reviews rank No.1 for boosting sales and customer engagement, according to recent research by internetnews.com.

Taking things a step further is a report, “Communability and Social Media Study,” done by e-commerce consulting firm, the e-tailing group, and online customer review firm, PowerReviews.

The report findings come at a time when recession-strapped companies are turning to social media marketing as a more affordable way to promote products and services.

The trend coincides with the uptick in the community base of social networking sites. Facebook just passed the 300 million user mark and provides a vast traffic volume for retailer branding efforts.

But Facebook and Twitter aren’t the only social media used by marketers. The other top brands include Twitter Publishing, with 65 percent saying they currently use it; customer reviews and blogs, both used by 55 percent; and virtual videos by 50 percent.

WMB agrees with Lauren Freedman, president of the e-tailing group, who says:

“All merchants must test and understand how to effectively deploy it (community and social media) for their brands to retain customers, encourage sales, and avoid abandonment to competitors who’ve better embraced its marketing potential.”

What’s The Future?

Increasing sales is the ultimate goal for adopting social media marketing, but Freedman’s study found three concerns by retailers.

First, brands want to put their own spin on their products and services, and mitigate “brand degradation” from consumers already using sites such as Facebook.

Second, retailers want to be seen as up-to-date in their online presence, not out of touch.

Third, study participants fear their customers will leave e-commerce sites for others that are more socially engaging. It’s akin to hanging out with the most upbeat and “cool” site.

The e-commerce study found Facebook is considered by merchants to be the “single most effective tactic in mobilizing brand advocates and influencers to spread the word about products/services.”

Still, customer reviews are at the top by a wide margin, with 78 percent of those polled listing that information as the No. 1 social media tool for generating sales, and 61 percent listing it as No.1 in driving customer engagement.

The bottom line: Social networking isn’t just about online talk. It’s about marketing – yourself, your company and your products.

This post is by TechMan, WMB co-author. Please share this post!

Sunday, January 2, 2011

Paid Content Versus Free

Popular thinking in traditional print media, including newspapers, held that Internet users would opt for free over paid content. Who could disagree with that logic?

So, many papers gave away their content online while revenue from the print format shrank slowly until the recession years shifted the losses into hyper drive, with layoffs, buyouts and closures the end result.

But surprise: Nearly two-thirds of U.S. Internet users have paid to download or access online content such as music, movies or news articles, according to a survey.

The Pew Research Center's Internet & American Life Project found 65 percent of those surveyed said they paid to access or download some content, the global news agency afp.com reports.

The survey – which included phone interviews with 1,003 adults in the continental United States, of whom 755 are Internet users – offers hope for the Internet as an economic cash cow despite widespread belief that viewers only seek free content online.

A running debate between free and paid is what kept many papers (including my former employer, The Star-Ledger) from moving quickly toward a pay-wall system. The ancient print business model had no sections for an evolving digital format.

Still, the Wall Street Journal embraced the wall early on, and the New York Times is heading in that direction.

Today, even with your local paper, you might see a few graphs online before a screen prompt suggests you subscribe to receive the full story electronically. For many papers, regardless of size, the pay wall is now trending as a fact of life in a struggle for survival.

“The Internet has become a viable distribution channel for a variety of online content, especially in the era of broadband,” the Pew report said.

“The issue of people's willingness to pay for online material has enormous implications for media companies, artistic creators, and others who are hoping to sustain themselves – or grow new businesses – by raising revenues through online purchases.”

In the survey:

*33 percent of Internet users have paid for digital music online or software;
*21 percent for apps for cell phones or tablet computers;
*19 percent for digital games;
*18 percent for digital newspaper, magazine, or journal articles;
*16 percent for videos, movies, or TV shows;
*15 percent for ringtones.


“What was really surprising was that the percentage of Internet users purchasing online content is nearly the same as those purchasing other products and services, such as books and travel,” notes Jim Jansen, the author of the Pew Internet report.

From Where I Blog

As a veteran print/online journalist caught in the riptide of the Internet and the Great Recession, I find the survey’s results encouraging.

What it says is Internet viewers are discriminating consumers who recognize you sometimes have to pay for what you value as essential, regardless of the format.

If you offer quality content at a reasonable price, and back it with a solid reputation for accuracy, educated consumers will buy into your product, return to your website and spread the word.

In our consumer-driven society, it’s all about choices. For some folks it always will be just newspapers, for others a combination of print, TV and online news.

Consumer preferences will determine which formats flourish and which ones fade. The only certainty is change, and tech advances are rapidly reshaping the information landscape.

Consider this: Facebook started in 2004, the same year as the Google IPO, YouTube in 2005 and Twitter in 2006. None of these companies existed in 2000. Just imagine what we’ll see by 2020!

As for me, I practice what I preach at writenowworks.com. If you like this post, please share it.

Thursday, December 16, 2010

Buying Gold For Peace Of Mind

China is trying to increase its gold reserves, according to financial analysts, including the 21st Century Business Herald. China is now the No. 1 consumer of gold in the world after surpassing India.

Even so, economic observers say there are limits to China’s ability to increase gold holdings on a large scale within a short time, so the gains in government reserves will be slow.

China has 11,064 metric tons of gold, accounting for 1.6 percent of its foreign exchange reserves, according to The Economic Times.

Gold has soared 22 percent this year, reaching a record $1,424 an ounce on Dec. 6. as a weakening dollar and concern about the global economy and its recovery has spurred demand for a store of value.

China should purchase gold and oil overseas with its foreign-exchange reserves to avoid losses from a weakening dollar, according to Shao Fenggao, an official at China Construction Bank Corp.

“People have always been speculating about China’s gold reserves, but I think there is not much point in second-guessing whether the government is going to buy gold,” says Roland Wang, general manager for greater China at the World Gold Council. “They have access to information and they must have a plan with regard to gold.”

China remains the biggest foreign holder of U.S. Treasuries, after its holdings rose by $15.1 billion, to $883.5 billion in September, from $868.4 billion in August, according to the Treasury’s statistics.

Holdings Below U.S.

China’s gold holdings are far lower than the 8,133 tons held by the U.S. government, and are only higher than 25 of the 110 countries tracked by the International Monetary Fund, according to the 21st Century Business Herald.

Meng Qingfa, a researcher at the China Chamber of International Commerce, told the International Business Daily that China should increase its gold holdings.

China’s gold market may double in the next decade as retail investment and jewelry demand increase, the council’s Wang says.

Demand may gain to 800 tons to 900 tons in the next 10 years, Wang asserts. China’s jewelry and investment gold demand was 428 tons in 2009, according to the council.

Largest Gold Consumer

India is no longer the largest consumer of gold in the world. In 2009, China bought more gold than India, making it the world’s top consumer. In fact, China edged out Africa in 2007, as the world’s largest gold producer.

Ramping up production to take advantage of record prices is understandable, but why have the Chinese suddenly fallen in love with gold? And, does this affect the price the United States pays?

China is buying gold for the same reason we buy life insurance policies – peace of mind. The Chinese government has reserve of over $2 trillion, mostly greenbacks. Unfortunately, Beijing is not fond of this currency right now. It believes the dollar will go even lower.

As a result, China wants to stock up on something whose value does not change with one country’s policy moves. And that means gold!

Since 2003, Beijing's strategy was to buy most of the gold excavated and refined locally. No one in the international market became the wiser and the bill was paid in yuans.

Today, China has more than 1,000 tons in its official vaults, up a whopping 75% in six years. Its gold reserves are now the fifth-largest among national central banks after the United States, Germany, France, and Italy.

From Our View

WMB believes China is buying gold because it is nervous about the U.S. dollar, and this fear is contagious. Investors in India and round the world have started accumulating gold, too.

The subsequent price spike, fraught with risk, then becomes a self-fulfilling prophecy. Analysts estimate the large increase in gold price stems, in large part, from China’s demand.

Ultimately, China’s real power comes from its hard-headed attitude.

Chinese families may have just figured the virtues of gold as a safe haven, while we have passed it down generations to survive war, unemployment debt, crop failure and marital break-up. But we hate selling gold.

For the Chinese, sentiment doesn’t come into it, at least for now. And, they are more market savvy.

This post is by TechMan, WMB co-author who blogs about trends, issues and ideas affecting business, industry, technology and consumers. If you like this post, please share it!