''''The credit crisis was over - Freddie Mac & Fannie Mae bailed out - and the housing market settling down''' .................UNTIL YESTERDAY.
As data from the US Housing sector continues to deteriorate, the banks may be set for a fresh round of writedowns.
An endless number of bailouts and low interest rates on the USD, are going to erode the purchasing power of the USD in the long run.
I wouldn't trust this rally, and would instead look at adding to gold positions on further declines in the precious metal.
1 comment:
Hey David,
This is pierre for bombay scottish. Really impressed by your blog. Seems like you do a heck of a lot of number crunching every day.
Keep up the great work.
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