If you’re gonna go and print hubris, post the winner of the World Series.
Yeah, right!

The real news is in the secular trends, which are revealed near the end of the report: “Bond prices fell…. The dollar fell … pushing commodity prices higher. Gold jumped … while oil prices gained….”

Examine the daily financial reports for the last few months and note that these indicators — bonds, the dollar, commodities, gold, and oil — are apt to be moving in a pattern about the same as they are today (and as quoted above).

Falling bond prices and a falling dollar confirmed by rising prices for commodities, gold, and oil — these are all indicators that we are entering an era of inflation.

Inflation is being driven primarily by the massive Federal deficit spending required to support the Democrat Congress and White House programs, and to a lesser extent by the low interest rates currently maintained by the Fed.

Under conditions of inflation, any economic recovery — or stock market rally — is going to be weak, poor, and brief in duration.

As inflation begins to percolate through the system, the Fed will have to raise interest rates, choking off economic recovery. Similarly, higher taxes will be imposed to support the Democrat spending programs, dealing a hammer blow to the U.S. economy.

Hard times are coming. Retirees and seniors living on fixed incomes are going to be especially hurt.