![](http://2.bp.blogspot.com/-m3_23VCWt1U/T3DYq01I1KI/AAAAAAAAV24/iLKK1pFBphA/s400/bull%2Bstampede%2B%25232.jpg)
![](http://2.bp.blogspot.com/_XaPHRge5GtE/TA1i3jD0fbI/AAAAAAAACXU/7um2KdZN-CU/s320/eye+of+hurricane.gif)
Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
![](http://3.bp.blogspot.com/-ELKWIvXgbkI/UXcZI2dBgoI/AAAAAAAAnU8/uFfIw8JURWo/s320/SPX_042313.png)
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21). Holding above the 38.2% minor retrace (1554.55). No daily 3LB changes (reversal is 1587.73). QE2infinity. Still below 2 of 3 trend lines and RSI(14) above 50.
![](http://1.bp.blogspot.com/-e9UKsXnQOE8/UXcZLLExLrI/AAAAAAAAnVE/WKFvKPXQePs/s320/DXY_042313.png)
Bullish long day. Midpoint above EMA(10). Holding above the 38.2% minor retrace (82.46). Tested and held SMA(21). No dally 3LB changes (reversal is 83.18).
![](http://4.bp.blogspot.com/-CsyFV5CRvSg/UXcZdZeN_BI/AAAAAAAAnVM/uP4TRL_zmTM/s320/VIX_042313.png)
Inverted hammer day. Midpoint below EMA(10). Tested and failed SMA(21,55). Still failing its 61.8% minor retrace (16.45). No daily 3LB changes (reversal is 13.36).
![](http://4.bp.blogspot.com/-opCDn48NmnA/UXcZf8yqbkI/AAAAAAAAnVU/A8bdqsl5-JQ/s320/GOLD_042313.png)
Bearish long day. Midpoint below EMA(10). Tested and held its 100.0% retrace (1407.40). Still failing all SMA's. No daily 3LB changes (reversal is 1586.70). Must have the precious.
![](http://4.bp.blogspot.com/-IOfgHfjrKhs/UXcZhyPrYzI/AAAAAAAAnVc/WwNpjTRdC9E/s320/EURUSD_042313.png)
Bearish long day. Midpoint below EMA(10). Tested and held SMA(21). Still failing its 38.2% retrace (1.3145). Daily 3LB reversal down (reversal is 1.3196).
![](http://3.bp.blogspot.com/-Jkcb0fWjvOo/UXcZj96u5QI/AAAAAAAAnVk/hrU1eeAW9do/s320/JNK_042313.png)
Bullish long day. Midpoint above EMA(10). Still above all SMA's. Holding above its 38.2% minor retrace (40.58). New high on daily 3LB (reversal is 41.22).
![](http://3.bp.blogspot.com/-2iWG9UmxJH4/UXcZl634_mI/AAAAAAAAnVs/-46bxuiB6CY/s320/10YR_042313.png)
Bullish short day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% minor retrace (17.47). No daily 3LB changes (reversal is 18.12).
![](http://4.bp.blogspot.com/-rhRng8IjIak/UXcZpnoGbaI/AAAAAAAAnV0/4RN5pGTaLoI/s320/WTI_042313.png)
Spinning top day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% minor retrace (90.37). No dally 3LB changes (reversal is 92.99).
![](http://3.bp.blogspot.com/-60QjWqdAHlE/UXcZtG0DFZI/AAAAAAAAnV8/lkcT6H2214k/s320/SILVER_042313.png)
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Holding above its 0.0% retrace (22.55). New low on daily 3LB (reversal is 23.31).
![](http://1.bp.blogspot.com/-4HPLCOvGWIk/UXcZvuKSNsI/AAAAAAAAnWE/IjwPalpwI-c/s320/BKX_042313.png)
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21,55). Holding above its 38.2% minor retrace (53.87). No daily 3LB changes (reversal is 56.87).
![](http://2.bp.blogspot.com/-QBIGHn-cfcA/UXcZz7JTJEI/AAAAAAAAnWM/B4kZrX0Ja6k/s320/HYGLQD_042313.png)
Bullish long day. Still failing SMA(89). Midpoint below EMA(10). Tested and held its 61.8% minor retrace (0.7765). No daily 3LB changes (reversal is 0.7794).
![](http://2.bp.blogspot.com/-IJ572MsQldw/UXcZ2MCiPuI/AAAAAAAAnWU/kTw1KBveJGY/s320/COPPER_042313.png)
Bearish long day. Midpoint below EMA(10). Still failing all SMA's. Tested and failed its 0.0% retrace (3.100). New low on daily 3LB (reversal is 3.188).
![](http://3.bp.blogspot.com/-DoVqsfAddN4/UXcZ4Vu_q_I/AAAAAAAAnWc/LujRDc_3Alc/s320/AAPL_042313.png)
Bullish short day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (406.99). Still failing BB(2,200). No daily 3LB changes (reversal is 419.85).
![](http://2.bp.blogspot.com/-w59nr-7Twt8/UXcZ7MM3xtI/AAAAAAAAnWk/9ZVJ360RPGE/s320/GSCI_042313.png)
Bullish short day. Midpoint below EMA(10). Still failing all SMA's. Still failing its 38.2% minor retrace (30.62). No daily 3LB changes (reversal is 31.56).
![](http://2.bp.blogspot.com/_XaPHRge5GtE/TG3WyNDKDcI/AAAAAAAAD7s/oGqN2NTLwHY/s320/infinity_symbol.jpg)
IT HAS BEGUN. YOU HAVE BEEN WARNED.
1 comments:
http://www.financialsense.com/contributors/john-rubino/news-flash-economists-clueless
News Flash: Economists Clueless
“The economic models that didn’t predict the crisis have also repeatedly overstated the recovery. The tendency is to blame errors on one-time events – say, in 2011, the Japanese tsunami, the Greek bailout and the divisive congressional debate over the debt ceiling. But the larger cause seems to be the models themselves, which reflect spending patterns and behavior by households and businesses since World War II.” There’s a very simple reason why today’s Keynesian and Monetarist economists didn’t predict the crisis or the anemic recovery. Their models ignore a country’s balance sheet, focusing instead on, respectively, “aggregate demand” (i.e. how much stuff we’re buying) and the money supply. They assume that as long as these things are rising at a steady pace you’ll get healthy growth. But for a country as for a family, how much you spend depends on how much you make and how much you owe.
The one school of economic thought that does focus on macro debt levels is, not coincidentally, the one school that got everything right. The Austrians saw the collapse coming and predicted that record deficits and money printing in the absence of massive debt liquidation would not fix our problems. Today’s policies, according to the Austrians, will just make tomorrow’s problems a lot worse.
The fact that Austrians see government as a relatively small, unimportant actor in a healthy society makes them repellent to mainstream economists who love the idea of all-powerful government – with themselves running things from behind the curtain. So Austrians have almost no role in major university economics departments. [A personal aside: When GoldMoney’s James Turk and I were collaborating on a book a while back we were amused to find that we had both learned economics by watching all the predictions of our Keynesian professors turn out to be dead wrong.]
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