From Gold Scents:
It's almost impossible to find anyone who is long-term bearish on the stock market or economy at this time. In the recent Barron's poll, every single analyst expected a rise in stock prices next year and continued economic expansion.
I think they are all going to be wrong... horribly wrong. I believe next year the stock market will begin the third leg down in the secular bear market. And the global economy will tip over into the next recession that will be much worse than the last one.
I've gone over the three-year cycle in the dollar index many times. The dip down into the next three-year cycle low this spring should drive the final leg up in gold's massive C-wave. What I haven't talked much about is what happens after the dollar bottoms.
I actually expect this three-year cycle in the dollar to play out almost exactly like it did during the last three-year cycle. When the dollar collapses this spring it will...
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