MISERABLE Economic News
More MISERABLE U.S. economic news – across the board – and European stocks plummeting due to political and economic issues everywhere. Ominously, the PIIGS are leading the declines; and given their plunging economies, don’t be surprised if they’re back in the news; and right soon.
Here, we have the fiscal cliff sequester in six days – and Congress is ON VACATION!
Better yet, we’re told PMs were hit yesterday due to the FOMC Minutes suggesting the “end of QE” (they didn’t), yet Treasury yields have since plunged! Don’t worry, PHYSICAL PM holders, the Cartel ALWAYS attacks after the FOMC minutes; and don’t forget, this was the meeting where Bennie LOUDLY reiterated QE4.
By the way, Miles Franklin had a HUGE day yesterday, with people buying PHYSICAL PMs hand over fist as the Cartel sold PAPER.
Andrew C. ("Ranting Andy") Hoffman, CFA
Miles Franklin Ltd.