Fred Hickey comments on the plunging global economy and gold.
There’s No Hiding From A Global Recession
January 17 (King World News) – Fred Hickey on the plunging global economy and gold: It’s ugly out there (global economy). Eventually, stock market will notice (as it did in Oct.-Dec.) As I said: there’s no hiding from a global recession. And there’s only so many bogus Chinese “deal/tariff reduction” stories bulls can lob out there before they stop working…
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We already know what’s going on in Asian and European economies (sinking). Starting next week & in following weeks we’ll get a better sense of what’s going on in U.S with Q4 reports & even more importantly Q1 & 2019 guidance. (banks don’t count – they can make up any number).
The Smart Money & Gold
All I hear is whining from dispirited gold stock investors. With stocks up triple-digits nearly every day (bear market is over per Cramer – after two months.?), no fear of recession (despite 83% of Fed rate hike periods leading to 1) – no 1 needs gold/miners-until bear market slaughter resumes. The smart money is buying gold: Dalio, Gundlach, Zell (for the first time ever!) & many others. Should be quite a frenzy when the rest of the (Western) world figures this out.
King World News note: Hickey is correct. The global economy is rolling over hard and it will be even more difficult to hide that fact in the coming months. Gold will continue to trade inverse to the stock market, which is why Zell bought gold for the first time because gold “is a good hedge.” Zell also brought up the fact that gold production is going to fall off a cliff in coming years. This will be another massive bullish catalyst for the gold market in the years to come.
ALSO RELEASED: US Government Shutdown, Home Buyers Struggling, Trouble Brewing In Europe, Plus The Beef With China And Tariffs CLICK HERE TO READ.
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