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US retail sales increased 1.1% yesterday, a sign that the money pumped into the capital goods sectors of the economy by the Fed via the banks is now flowing into the consumer sectors of the economy.
The Dow Jones Industrial average climbed to the highest level since 2007, while the S&P 500 climbed to the highest since mid-2008. US long-term interest rates climbed across the board.
This party is going to heat up substantially once ECB and BOE printing starts to drive broad money growth higher. We are in for a near global inflation in coming years. Buy gold, buy shares, buy commodities. Get out of cash and government bonds, it’s the highest risk place to be right now.
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