Trillion Dollar Deficit
Stocks jumped today based on earnings in the financial industry. Bonds continue to hold their lower interest rates.
The Dollar and gold moved sideways.
Oil and gasoline continue to slowly make new lows – great news for gasoline prices (they’re coming down folks).
In the news today…..
Budget Deficit – is now officially over $1 TRILLION. This is a record, and it will be broken many times over as President Obama spends us into the poor house. From a protection viewpoint, get ready for inflation in 2011 (best guess for a date out there) and benefit from this overspending.
Financial Sector – is gaining from the great earnings at Goldman Sachs (probably an exceptional company, compared to other junk banks). That’s what caused stocks to jump today.
Here are the last numbers for yesterday:
Dow Jones 30 Industrial – 8332 (up 185 points)
10 Year Treasury Bond – 3.35% (up 0.05%)
Euro – $1.3998
Gold – $923 (up $10)
Oil – $59.69 (down $0.20)
Gasoline $1.64 (down $0.01)
