And the hits just keep on coming:
• Initial jobless claims in at 472,000, up 12,000 and far higher than the expectation of 450,000.
• Last month's jobless numbers were revised upwards from 456,000 to 460,000.
• The Consumer Price Index came in at -0.2%, which translates to out-and-out deflation;
• Gold hit another all-time high as investors fled the deficit-stricken dollar and Euro;
While the U.S. deficit grows like the Gulf oil gusher, the economy stumbles under oppressive regulatory and taxation regimes, and global investors come to grips with the self-destructive policies of the Obama Democrats, gold has only way way to move. And that one way is not down. It's not sideways.
For you liberals: that means gold is headed still higher. At least until November.
Image: Big Bureaucracy (translation: "Workers of public health and physical education! Improve the medical service to the people, more actively introduce physical education into the daily life of the people!")