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Negative US GDP & the end of the business cycle
Manage episode 326947889 series 3085687
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Last night’s shock news of the US falling into recessionary territory with a negative GDP print was a salient reminder of both the precariousness of the world’s biggest economy and the farce that is a sharemarket RALLYING on the news likely because they think it will force a reversal of the Fed’s tightening! Importantly gold rallied (despite an also stronger USD) as it called BS on the shares’ “bad news is good news” hope rally. As we reported yesterday Crescat Capital released their latest monthly research letter late last week and today we look further into it.
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