The gloom and doom 'big-picture' theorists swarmed out of the woodwork during the 2008 financial meltdown in reaction to the massive government bailout programs and stimulus efforts taken to prevent the collapse from worsening into a 2nd Great Depression.
Everyone knows the odds of winning in a casino are worse than 50% (often much worse depending on the game played). So who wouldn't rush to a casino where, instead, the odds were overwhelmingly in the gambler's favor?
Gold bugs have done a lot of crying, rending of clothing, and gnashing of teeth in recent weeks as gold has swooned. It’s worse this morning as gold's price sinks even a little below the levels on these charts. At the same time there’s been lots of gloating and cheering among mainstream media types who hold the yellow metal in low regard.
There have been quite a few bold predictions, since the beginning of the year, that the dollar was set to soar and that the great "bond bull market" was dead.