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Richard's thoughts on Debt, Inflation and the Fed

Daily Recap

Despite a decent rise in oil prices today (up over 50 cents/bbl.), stocks recorded a down day both in the US and Europe.  The Dow lost more than 100 points today, comparable - percentage wise - to drops in other major indices. With the year now over, US markets were almost exactly unchanged since last January.

European stocks were up for the 4th year, despite their worst December results since 2002.  Asian markets mostly finished lower on the year, with China being the notable exception. The Shanghai index managed a 9% gain for the year despite its horrific summer collapse.


Gold and the rest of the precious metals complex continued to struggle, down modestly today.  Apparently nobody wanted to play the hero role by stepping up ahead of the New Year's holiday. 2016 is just around the corner, where we'll see what the metals are really made of.


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