I have been in cash and gold for some time in anticipation of a stock market crash which seems almost inevitable to me given the fundamentals. It looks like the downward spiral is underway since the debt ceiling dog and pony show didn't fool anyone with a shred of sense. Things are going to get a whole lot worse before they get better - if they ever do. Obama is an absolute calamity for this nation.
I agree. We might not go into a recession but the economy is going to muddle along at best because of the administration's stupidity. Between regulations, health care costs and putting the brakes on drilling, we will never create the 300 to 400 thousand jobs per month needed to dig us out of this mess.
QE 3 is the only bullet the morons in the W.H. have. Dow down 512 points today. Not looking good.