A cool breeze blew in over our little island late this afternoon. The temperature is forecast to drop from a high of 90 degrees today to only 60 tomorrow. How quickly things can change…
But we’re here to talk markets… If you took Friday off, you didn’t miss much. The Dow nudged higher by a fraction of a percent. The NASDAQ and the S&P 500 remained, for all intents and purposes, unchanged. Gold slipped a bit over the past few days. After a failed run at $1,120 per ounce on Friday, ol’ yella fell back to around $1,100. This morning it trades a few bucks higher. Oil holds steady at $80 and change per barrel.
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Why an Empire that Borrows from its Rivals is Doomed to Fail
Wall Street suffered its first reversal in eight days yesterday. The Dow dropped a modest 7 points.
For its part, gold rose $1.30 and the dollar fell.
More importantly, the latest news is that inflation rates continue to fall. Producer prices went down 0.8% in the last two months – and the rate of decline is accelerating. It won't be long before the US is in outright deflation – just like Japan.
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