It looks like there is a minor correction going on today in the market.
Check it out over at
Markets Insider.
Over the next couple of days, I see a 5 to 8-percent correction then followed with a modest rebound. I base this on crude and gold dropping in spot price. If I saw the correction we are seeing with crude and gold climbing it would signal to me that a major correction is coming, 15 to 20-percent.
As outlined in my 2021 predictions, a bubble burst is coming our way by year end. It will be triggered by inflation we have not seen since the President Carter era (14.9%). How can it not, with vehicle fuel (Diesel and petrol) prices rising at the rate they are. I am seeing a 25-percent jump in fuel prices around my AO since Christmas. The inflation of fuel prices will translate into higher costs for goods in your stores. This is just the beginning.
New York State is about a pistol shot from the redoubt. Gov. Cuomo has announced that taxes will have to increase. Specifically, fuel, property taxes, income and some others. Although taxes are not counted in the inflation formula, it reduces your buying power so in essence it is a form of inflation just more local.
To finish this post up, keep an eye on the market along with the commodities. If you start to see a prolonged correction, maybe a percent or two a day along with a sharp increase in commodity prices. Keep an eye on the 2021 $1.9-Trillion Covid-19 Relief Bill.
United States Debt Clock
