Friday, July 29, 2011

Dow plunges, Gold soars as GDP data is revised downward

When I saw the revisions to the GDP data for the last couple of quarters this morning something clicked.  I'm now fairly certain we are going into a deep recession/depression and that a credit rating downgrade is waiting in the near future.  Also, from what I can tell Gold continues to reach record highs (up $10+ an ounce as I write this).  I no longer think the "default" issue being tossed about in DC even matters.  The economy has fallen off a cliff...  And the ride could be about to get bumpy....  (See, I told you I occasionally get a bit alarmist on the Blog... :) )

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