Let’s get down to basics. The US economy is in recession, and it has been in recession ever since the bear market started in 2007. Janet Yellen should be yellin’ at Bernanke, but that wouldn’t help in the current situation. The Fed is in a position of having to taper during a recession. The economic news is bearish. And the Fed is probably wondering what in the world is going on. Nobody wants to even hint at a recession. But the dismal economic statistics keep saying "recession." The stock market is no longer fooled by the situation. It has stalled in the face of bullish pronouncements by the optimistic experts. Meanwhile gold is resting, and dancing this side of 1300. My favorite position continues to be bullion in hand and CEF. Of course I cannot prove it, but my inner voice tells me that 2014 will be an historic year.
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