NICE OPPORTUNITY TO BUY GOLD COMING UP...
BASICALLY NOTHING WILL CHANGE WITH THE CONSUMER...
WHY? BECAUSE THE SECURITIZATION OF CREDIT CARD DEBT...IS EXTINCT...AND IT AIN'T COMIN' BACK SOON...
WITHOUT THE "NON-BANK" CREDIT...NOTHING CAN BE DONE TO BOOST CONSUMPTION...
CHANCES ARE THE "STIM" WILL FAIL...JUST LIKE THE LAST ONE...
MY ADVICE TO OBAMA IS MOVE TO THE STRUCTURAL PROBLEMS LIKE UNIVERSAL HEALTH CARE...AND A REAL RE-INDUSTRIALIZATION POLICY TO CUT THE TRADE DEFICITS...
NOTE WELL FOR ALL THE SCREAMING...NOT ONE PERSON HAS SERIOUSLY DISCUSSED THE TRADE DEFICIT...THE TRADE DEFICIT IS THE ELEPHANT HIDING BEHIND THE DRAPES IN THE OBAMA WHITE HOUSE...
NO...WE JUST CAN'T PRETEND ANYMORE...
