Meanwhile, while it may be slightly ancient news, the Commerce Dept. reported today that manufacturing and trade shipments for Sept. were $988 B, down 0.3% from August and down 13.1% from the year earlier. The inventory/sales ratio was stable month on month at 1.32.
Thought you might like to know. End of recession/depression turning point? Could well be. But we must be careful in watching large percentage moves off of a low base.
And for all the excitement about retail sales and the moves in stocks, these moves are matched by gold once again.
More to the point: platinum, palladium and silver are screaming to the upside.
More and more to the point: Longer-dated Treasuries are up in price.
Money is chasing all sorts of financial assets. In times like this, the safest short-term strategy is to go with the flow. And so prices of metals are being bid up. Louise Yamada had spied strength in silver as she stated in a recent interview. Great call! And breaking out silver is, attracting new buying as it does so.
Its back to the reflationary '30s for now
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