Cutting Deficits is not Bullish Now

The two factors that will keep a drag on the economy this year are cutting deficits and a consumer who has no assets to borrow against. It is that simple. 

 Update at 9:50 AM CST, gold could bounce to the 1360 area as stocks start to penetrate early support levels.  This will be just a bounce, gold is headed much lower in my opinion this year.