Another payrolls report, another beat of expectations. Let’s pluck one graphic and illustrate a phenomenon I’ve been watching unfold for several months in a row; that of unabated government hiring this election year.
I try to keep my tin foil hat in excellent working order and only use it on very rare occasion, when facts actually line up with tin foil. “Facts” have indicated a fiscally stimulative government and logic has considered the potential of former Fed chief Yellen to be in coordination with the current Fed, which has been regulating liquidity through its bond markets operations.has not gotten hammered on the joyous employment news. Well, maybe it is just time.
I believe there is a good chance that when the stock market takes a real bear, the precious metals may also get hammered. But the breakout on the gold chart above is more than just a positive technical signal. It represents a major positive move in the making for the anti-bubble and as such, a negative one coming for traditional bubble beneficiaries.. It’s been a hard move up within the intact daily chart downtrend.
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