Market can't decide which way to go. Where there is uncertainly we usually end up in the red.
All the bad news lately certainly isn't helping though IMO is largely factored in. The one thing still left to bite is all the crazy derivatives contracts. No entity - not even the entire worlds wealth - can pay for them - $739 trillion in total (Hmmm - about a centuries US GDP!!). Only options are to cancel them in legislation (very difficult politically) or let the institutions responsible go into bankruptcy and govt take over loans and deposits. This is still to really hit the fan.
Interesting to note that last month China imported a record monthly amount of iron ore!
Sales picking up in the US.
Unemployment tipped to rise though if sales stay strong this may not be as bad as expected.
Interesting that we now have a plethora of left-ward leaning governments including the US. Talk is finally underway about reigning in the practices that damaged the world economy so badly - including excess leverage and repackaging/disguising debt.
Interesting times. I didn't expect a positive outcome tonight though will take it if it comes - may give a little more time to shift some money from equities to gold - still biding my time on that one.
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