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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: romannose who wrote (83930)8/28/2008 5:21:50 PM
From: Keith Feral  Read Replies (4) of 116555
 
LOL! UBS is talking about a rally in gold with Germany falling into a recession at the same time that the US is pulling out of a recession. Gold and silver is going to be a very challenging play from here, especially in a deflationary environment where oil and gold prices suck wind for the next 6 months. The dollar will continue to lead the rally from here, at the expense of the commodities through the end of the year. Maybe we could even see a rate hike at the end of October once all the bank earnings come out. I doubt the FED will do anything at the September meeting, except they can say that the slowdown in economic growth is no longer a concern. They will shift their emphasis on fighting inflation going into the October meeting. The sooner that the FED takes back a few rate cuts, the less they will have to do down the road. I'd say it's a great time to be dumping hard assets.
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