David Morgan’s weekly perspective. IMF lists 9 banks could be struggling in the coming years to achieve sustaining profitability. The huge debt problems continues. A yellow light, something to pay attention to. The ongoing struggle of the auto industry. GM is laying off 1500 workers. Sales degrading double the rate of other companies. Look for model cancellations. Real economy is not doing that well. Housing industry is where we get out of a recession and we’re not doing it now. Stock market looks great but not so much in the real world.
There’s been a pull back in bond yields. Dollar continues to weaken boosting commodities. Base metals are doing very well. Indicative of a reversal of the economy.
Precious metals looking good. Russian Central Bank may start buying gold on the Moscow Exchange. Move would boost lackluster trading. Physical gold continues its move from West to East.
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