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T-bill update: 90 day at 0.16%

Posted By Mike On Sep 17, 2008 @ 10:49 am In bonds, deflation, depression, gold | 1 Comment

So this is what an old fashioned panic feels like. I think this is the beginning of the plunge that will take us to near 9000 on the Dow within a few weeks. But that won’t be the end. I’ll consider the possibility once we’re under 4000 or 2 ounces of gold per Dow unit, at least 2 years from now. Anyone who is unsure about their stock holdings should get out immediately. I don’t care how big and “defensive” a stock is, all equities are going down.

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Click for sharper view. Source: Bloomberg

The Fed can’t hold at 2% if T-bills stay this low for long. Watch for a surprise cut.

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