What a week

There is CARnage on Wall Street, GM is thinking of possible Bankruptcy. My prediction that is would go under is coming true. There is good news for the gold bugs though as the yellow metal pop over $1000 for a brief bit.

Another DOWn day for the dow, retail industry must face the music and it is sounding a lot like a funeral dirge. JC Penny is dow-ing horrible, it lost money in its last quarter and is hoping things turn around this year so it can break even. Actually, things will get worse.

Today we saw multi year lows in Wall Street the dow was DOWn again. As predicted by me, the bank bailout was a failure, the stimulus was a failure, and investors have lost confidence in Obama. This means that we will soon see things begin to spiral out of control like an airplane in a tail spin.

Actually, so many people are dumping the dow and buying bullion that there is a fear that confiscation of gold bullion to happen again like it did in the 1930's. Many are moving gold offshore.