This year will likely be another year in which stagnant real wages freeze, or erode, the living standards of those in the middle and the gap between the haves and the have-nots widens - and this all marked by mounting uncertainty about prospects for global economic growth.
Inflation cannot be switched off like a light switch. By the time the Fed realizes that preserving the consumer's financial health may be a losing battle, inflationary pressures will no longer be containable.
A weekly update combining the commitment of traders (COT) data usually released each Friday by the major exchanges, with reporting on the difference between the long and short positions of the largest traders in gold, the Large Commercials (LCs) as of the previous Tuesday, with technical commentary.
There were some pretty scary names for potential Fed chairman floating out of the White House, but we all dodged a bullet when George Bush nominated Ben Bernanke to succeed the all-powerful Alan Greenspan.
Resurgent dollar bullishness has caused Dr Martin Murenbeeld to revise his scenarios for the gold price. He continues to expect higher gold prices for the next six quarters though as the global economy continues to grapple with a weak dollar but relatively strong US economy.