Gold couldn’t muster much of anything today and silver seemed more buoyed. The dollar was up early and is still hovering around the 96 mark looking for a direction to go. I still see over 100 on the horizon but anything can occur short term.
Anyone notice where interest rates are again? I have said many times that interest rates would continue to fall. We have the 10 year all the back down to 2.05 again.
My Observations of Late
I asked for your thoughts on what was going on in your neck of the woods as I wished to know what you see as the pulse of America. I had one kind person reply. I get a sense that many in America are simply satisfied with what they see on TV for information, go about their day and let other worry about what the future holds. I find a complacency prevalent, but I can assure you that it is not prevalent among all. There is trouble ahead but most of you don’t see it.
The person who did reply was from Seattle. They said that what’s going on up there reminded them of what preceded the last financial crisis. Everyone is building and economy is booming and of course, no crash in site. The truth is, the consumer is always the last to know what’s going on. Most consumers don’t know what hit them until it’s already too late.
The latest consumers to get hit are the layoffs that we see occurring. I am not even looking for negative news but am seeing more of these types of articles pop up.
Caterpillar layoffs could ripple through central Illinois economy
Chesapeake Energy Cuts 562 Positions In OKC
This is what I expect to see with a contracting economy. We should see more of it. There is a reason my next book is called “Illusions of Wealth.”
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About Doug EberhardtDoug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
Disclosure:
Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with capital you can’t afford to lose. This is neither a solicitation nor an offer to Purchase/Sell futures or options. No representation is being made that any account will or is likely to achieve gains or losses similar to those discussed in this outlook. The past track record of any trading system or methodology is not necessarily indicative of future results.
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