Comment: Although you make some sense,

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In reply to comment: Where is private sector debt? (see in situ)

Cyril's picture

Although you make some sense,

Although you make some sense, I have hard times to imagine "confidence" to be a major feature of the private sector for the short, middle, and possibly long term.

I don't quite care if "confidence" also implied the individual family debt average to explode, too: it's still debt.

As for the GDP (which I take as the roughest index of how the economy performs, hence the private sector, as we're officially not in USSR V2... well, yet) and its positive, lame growth at less than 2%, everybody knows but the ignorant it is total b.s. We all know the growth has been negative since at least 2006. And not only in the U.S. of course.

I don't care either that a 500 or so dice players in wall street feel confident in a rigged game they're happily the first beneficiaries.

They're not the ones who produce and strive or struggle, only a shrinking couple dozen millions do. The latter's confidence matters.

I have yet to see hard evidence that one is good.

Reagan times are way behind us.

Finally, my post wasn't meant sensational, I only tried to point out a legit question one can ask:

does it seem we are in another major gold pull back, and if so how long can we expect it to last?

On this end, I hope it can for just 2 more years, if this pattern has any profound mechanics to explain and repeat it. No one needs a drawing of why this wish of mine, I suppose.


"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius