US consumer confidence rises to 18-year high
https://abcnews.go.com/US/wireStory/us-consumer-confidence-rises-18-year-high-57461885
More evidence that belies the "recession" view that some markets have been flashing.
Dollar in an upward correction after recent selloff. Nothing to worry about. This is normal.
Gold is swept up in the dollar rebound. That's why it is backing off. I still believe the bottom is in, however, there is a chance for one more dip. Small speculators are still long, but only by 10.3k contracts. That is their smallest long position in a year.
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And I should not forget to mention that large specs (hedge funds, futures funds) are net short 90k, the most ever.
We hear a lot about how the deficit leaves a "burden to our kids and grandkids, blah, blah..."
Nothing could be farther from the truth.
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you can see that the government deficit trends opposite to private savings. That is, when the government deficit increases as it did from 2000 to 2010, personal saving went up. Private saving is going up again now, as the deficit has resumed its expansion. (Deficit currently $766 bln as of Aug 24.)
BTW...the Clinton surpluses, which are so lauded by politicians and economists, led to a massive drain in private saving. That caused a recession.
Growing deficit now is bullish.