Congressional committees will be re-selected. Tea party brought GOP back in and a big freshman class will keep the congressmen in line with the platform. Compromise will be more difficult, if not impossible as the minority becomes more strident. Obama won't be able to bridge the gap, even if he were truly willing. So, good news! Uncle Ben will face a reconstituted Financial Services Committee. Profligacy will be a sin, not a virtue.
Longer-term bullish for the dollar, bearish for gold. Just awaiting the final fiat declaration this afternoon. I'll have orders in beforehand. I will be online well before the announcement.
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TF
ReplyDeleteHope this possible Wolfe bites Barney Frank in the ass.
http://99ercharts.blogspot.com/2010/11/tf_03.html
God knows how he won re-election.
Colleges, colleges, colleges.
ReplyDeleteOh, yeah. The nation's "best and brightest." Too bad they won't find work upon graduation.
ReplyDeleteSteve, what's your target on your gold short?
ReplyDeleteCongrats on that short, by the way! Looks like the C wave has begun, or maybe even a 3rd wave down if we're dealing with a much larger correction.