Rising gold prices have seemed to depend on falling stock prices lately, but we should try to make hay in any case for as long as it lasts. There is always the possibility we are witnessing a sea change and that the reversal of long-term trends in bullion and stocks as the New Year began reflects a realization that The Great Recession is not only still very much with us, but that it is about to bear down on us with irresistible force. If so, we’ll have Obamacare to blame, since it has made a bloody mess of a sixth of the U.S. economy.
