ROMANS: It's 23 minutes after the hour. "Minding Your Business" this morning. Dow futures are down more than 200 points right now on the run-up to today's open a little more than an hour. That as European markets stumble. Morgan Stanley put out a note, an analyst note that warns of the possibility of a global recession and that has investors moving their money out of stocks and into gold. The precious metal hit a new record high, right now, topping $1,800 an ounce. Hugo Chavez is getting in on the gold rush. Venezuela's president saying he's planning to take control of the country's gold industry. A move that allows him to crack down on illegal mining and move the country's existing gold reserves out of foreign banks and into Venezuelan vault. One critic describes the reserve relocation as the, quote, "looting of the nation's savings." The record drought in Texas choking the agricultural industry. It's already cost farmers $5.2 billion. Economists at Texas A&M; say without rain to help winter wheat, it's only going to get worse. Up next, move over Facebook and Twitter. Why every politician should be using Four Square, and should you? AMERICAN MORNING is back right after the break.
Chavez To Nationalize Gold Industry