By Bill Holter – Re-Blogged From http://www.Gold-Eagle.com
It smells like crunch time to me, the markets have flattened or begun to even roll over on continuously decreasing volume. The economy has also turned down all over the world including in China. Europe is contracting, Britain has finally figured out their finances are FUBAR and the U.S. would not show growth if not for the biggest inventory build in history. Oil tankers are sitting idle (and full) all over the world, is this a sign of “recovery” or of stagnation. The Baltic Dry index is plumbing news, this would be a sign of what? When I wrote crunch time above, I should have clarified, it looks “credit” crunch time and this time there is no white knight to save the day.