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.
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