On a side note I heard a guy call into the Bill Bennett show yesterday who said he was a construction manager for the largest contruction firm in NYC. They book their work out a year in advance and he says that as of right now they have nothing booked. Nothing.
That’s the best explanation of the looming new debt crisis that about to hit us that I’ve seen to date.......
It’s a rant but he makes a great points. He is a anti-gold bug and says the USD will be refuge from the storm. Just last January the USD was very strong and gold was down. Mish Shedlock and others were saying the USD is the ultimate refuge in a deflation
Since the the USD has tumbled and gold is up 400$ or more. Gold is then the refuge from inflation. But for the last few days this trend is in reverse. We have a stronger USD and stronger stock market