Saturday, July 30, 2011

Gold ($GLD, $IAU, $DGP), Japanese Yen ($FXY), Swiss Franc ($FXF), U.S. bonds ($IEF) were about the only areas showing any life or safe haven status. 
For republicans who ran on a platform of reducing deficits and now control the House it’s a bitter pill to vote for bigger deficits. The reality it’s not their turn since they only have the House. They need to win the presidency and the senate to move their plans forward. Some should just abstain for now then. For democrats they see their favorite programs in jeopardy and are hardened to protect them. They need to retain power.

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