Barack Obama accused of making 'Depression' mistakes - Telegraph

Barack Obama accused of making 'Depression' mistakes - Telegraph

This is my big fear. I would take a Japan type 'lost decade' over hyper-inflation any day of the week and twice on Sunday.

Chart of the Day

Hussman Funds - Is the Job Market Ready for a Recovery?

Hussman Funds - Is the Job Market Ready for a Recovery?

Great work, as usual, from The Hussman group. This is Bill Hester's recent piece. I recommend it.

Employment_Jobs

Calculated Risk does such a good job with analysis. Check it out...

http://www.calculatedriskblog.com/2009/09/employment-population-ratio-part-time.html
http://www.calculatedriskblog.com/2009/09/unemployment-stress-tests-unemployed.html
http://www.calculatedriskblog.com/2009/09/employment-report-216k-jobs-lost-97.html

Also, always good stuff from Kasriel:
http://www.northerntrust.com/pws/jsp/display2.jsp?XML=http://web-xp2a-pws/content/pages/nt/0601/1138283678319_6.xml&TYPE=http://web-xp2b-pws//xsl/interior.xsl&dc=250

Swing Lows

I expect we will take out those recent lows soon....

Gold

Gold had a pretty big move today on no real news. In the first Market Wizards book, Bruce Kovner said something to the effect of, "Breakouts on no real news are more interesting than a breakout associated with a Wall Street Journal article." (or something along those lines) I must admit, I thought gold was probably going to see downside before upside. But we have to look at what the market is doing and today gold took out last months high and acted well against just about every asset class out there and each currency. This is after it has pulled back, and consolidated for several months, against the S&P, CRB, and many currencies. If it starts trading below 974 tomorrow, or closes below there we may be able to call this a fake-out... otherwise, I think one has to trade it on the long side. Also, I doubt there will be much of a pull back if this thing is any good.

Should get a small bounce here