CNBC trying to paint a picture of what would happen to the markets if this bailout does not happen. Are you kidding me? Of course these idiots have to follow up and try to clean up the mutilated carcass. It won’t do a thing in my opinion, but they have to follow through so they feel they are doing “something.”
I’m watching commodities here, and am not so convinced anymore that there will be a new wave up. I know Dennis Gartman thinks so, and I do respect him, but he has been wrong a lot lately. I don’t know how far the dollar will plunge but I am convinced we are in the midst of a global recession that will only get worse. The gold rally has been brought out of fear, not inflation and I will be looking for select shorts unless things change.