Where’s the Economic Collapse?
Those who have been expecting an economic collapse are no doubt wondering why the markets are not reacting to clear bearish news: a) the renewed engagement in Iraq, b) the Ukranian/ Russian crisis, and c) riots on the streets in St. Louis. Let’s also not forget the cell phone “kill switch” that is about to be passed in California under the veil of catching criminals who steal phones. The truth, though, is that the government wants to nip the coming civil unrest in the bud, plain and simple.
The situation now reminds me of when Bear Stearns went under. The markets were resilient, so every proclaimed the worst was over. Of course it was only a year later that we had an economic crash that shocked the world.
Markets will always move at their own pace. For example, people generally know that gold rose during the financial crisis. No big deal. But how many people know gold outright crashed during the worst of the crisis first? In fact, gold effectively traded flat for 2 years smack in the middle of the crisis. It did not trade how it “should” have.
Keep this in mind because it’s very important.
Gold is consolidating and building a base for the next move. The longer the consolidation, the more explosive the move will be to the upside. The rally in gold will come when it is least expected, not when the armchair investor thinks gold should rise because of negative geopolitical news. Believe it or not, there is not enough bearishness in gold. People have not given hope. Until then, gold is in a neutral position.
If we break below $1200, watch out below. That’s about when I should be receiving hate mail. But I will be buying in anticipation of the crisis that is clearly developing in front of our eyes.
The post Where’s the Economic Collapse? appeared first on Expected Returns.
Source: http://expectedreturnsblog.com/wheres-economic-collapse/?utm_source=rss&utm_medium=rss&utm_campaign=wheres-economic-collapse
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