It's an old Wall Street saying that 'bears make money, bulls make money, but pigs get slaughtered.'
I think that observation might also apply to those who make public policy, those in the political and professional classes. And brother, they seem to be wanting to go whole hog.
I am afraid a lot of people who thought they were going to get one thing and going to get another, and in spades. Well, as noted here often, one makes their choices, and then takes the consequences. Not that I have any special talent for being right. But if you do all things with love, I think the consolations of even the poor decisions makes it all come out better in the longer run.
Today Wall Street paused after the 'Fed is dovish' rally yesterday. The Fed will make hawkish noises because they are starting to fear their latest bubble, but their resolve is thin. They can look at the real numbers as easily as we can, and they do not support a recovering real economy by any means.
Gold and silver made another push higher on the weaker dollar, and then fell back a bit into the close on profit taking. Not everything has to be manipulation. But there is certainly enough of that going around that only the willfully blind or naive cannot see, and I no longer have any patience with that sort of behaviour.
But why argue with scoundrels. We'll let the market sort it all out, eventually.
I like the chart action so far. Let's see what happens next.
Have a pleasant evening.