No afternoon smackdown in gold today, because the Americans are off. I wonder when they'll clue in that they're the only people selling?
Anyway, here's the news:
New Deal Demoncrat - weekly indicators. Quote:
The US economy remains in a shallow industrial recession, but the remainder of the economy, as shown by housing permits and initial jobless claims remains quite positive. This has been driven by a 16% appreciation of the US$ globally, and secondarily by the effects of the collapse of commodity prices on raw materials producers. I expect the US$ to continue to retreat due to coincident weak economic performance, and the underlying past positivity of the US long leading indicators will come through.
WSJ RTE - inequality hurts growth, but how? It's only significant in that the WSJ, the bastion of the Nazi plutocracy, is talking about it.
Krugginator - on technology's lack of boost to growth. Maybe, Krugger, it's because the productivity gains produced by technology were confiscated as new rents for the rich? I mean, what the hell do you think is paying for all those NASDAQ stock buybacks?