Indeed, my bad though it was just the minutes. Housing and building data was encouraging and the taller the house of cards goes the lighter the interest rate wrecking ball need be. Interest rates rising are the last part of winding down qe in conjunction with a pull back of government spending. The government ran a surplus last quarter. This was not backed up with economic patriotism, which is evident in the trade deficit climbing sky high and the disappointing retail sales. Sure they can blame snow and oil but inflation was at -0.1%. Deflation gripped the cpi. This has proved a regular occurance with the first quarter of the year and I am predicting that that quarter has been contained effectively with low rates but future first quarters will carry contagion affecting the next quarter the more the government pulls back spending and the higher rates rise. It has so far not accrued into the next quarter/s but thats because of accommodating monetary policy. I hold gold with patience and discipline in anticipation of gold's value of being a safe haven rising substantially.
