Bill Fleckenstein: The Big Story in 2013 - The Beginning of a Bond Bear Market
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Jim welcomes back Bill Fleckenstein, president of Fleckenstein Capital in Seattle, and author of Contrarian Chronicles for MSN Money. Bill believes the deflation fears are fading as the country enters a period of stagflation. He also sees the bond market ultimately taking away the printing press from central bankers, as the US moves closer to a funding crisis. According to Bill, the big story in 2013 will be the long-awaited beginning of the bond bear market. He also believes that Fed policy and the accompanying asset bubbles are effectively destroying the middle class, and leading us down the road to serfdom. As to gold, the underperformance of the gold stocks offers investors real value in quality gold miners. Bill also favors dividend-paying blue chip stocks in this market environment.