My two unabashed bullish calls – – gold and bonds – – have been doing fine. I think precious metals are going to ease back for a while, but bonds seem well positioned to make another push higher.
My general theme is that not only are interest rates going to fall, but they’re also going to keep falling to the point where it finally dawns on us all we’re in a severe deflationary environment. All this celebration and back-slapping about interest rate cuts is going to lead up to a holy-crap moment.
