Picture of the week
Jim Willie CB (1): ”(…) astonishing rapid deterioration. Consumers and business are holding firm their money rather than investing it, as they see poor prospects. New capital formation is not occurring inside the USEconomy, or pitifully little. Debts are being dissolved, usually in default. It should be noted that the velocity of money has also been falling in the EU and Japan. The entire global economy is in recession, the pathogenesis shared.”
CANADA = UNITED STATES / 10 (just like always).
”The destruction of capital is the ugliest dirty secret behind the official New Normal of central bank monetary policy.”
Technical Scoop Chart of the Week, by David Chapman, GoldSeek.com, April 10 2014
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