Tuesday, April 5, 2011

Maybe This Is Just Lost In The News?

Maybe there's too much to talk about with government "shut down" (as if).  Maybe they decided we needed to hear about Charlie Sheen's show bombing.  Or the real bombing - in Libya, or somewhere else.  I'm sure it's something like that.

Meanwhile, the US spent more than eight times its revenue last month...
"That $1.0528 trillion in spending for March equaled 8.2 times the $128.179 (Billion) in net federal tax revenue for the month."

Just last week, I was pointing out the Fed.gov spent $225 more than it took in for February, the largest monthly deficit in US history.  So for March, the deficit was almost five times bigger and nobody mentions it.  Is it normal for March's deficit to jump up so drastically from February?  Even when February's was so big? 

I've just been to WSJ Online, Fox Business, Investors Business Daily, Business Insider and the LA Times (since they had last months' story) and don't see anything else. 

Personally, it gives me a bit too much pucker factor to relax. 

By the way: did you notice silver is over $39/oz today?  Gold broke through a previous resistance line to over $1456?  Both of those are all time highs in "nominal dollars" (no inflation adjustment).  If Gold stays above that line for a couple of days, the next line of resistance is over $1500, if I read that right. 

2 comments:

LeverAction said...

Pucker factor indeed...

Sending the air force to Libya couldn't have cost that much. I wonder how much is aid to Japan as well? Surely both those events didn't cost ~ $800 billion. What else is going on...

Its pretty well known that the .gov is engaged in "secret" building and research projects all the time - maybe March is when they write off this quarter's "unknown" expenses. Of course we have a .gov that no longer bothers to follow its own rules, whether the pres or congress, so who knows what they just "forgot" to mention this month.

I also have noticed the upshot in silver recently, up ~46% since the low in January versus only ~9% for gold (from Kitco data). I wonder if that means more of us little guys are starting to put the pieces together and grab what's accessible at our price points, or if it means that some of the big guys are getting into silver as well - or maybe something else.

Yes, pucker factor indeed...

LeverAction said...

...or could it be that Obama's entourage ran up a massive bar tab on his vacation down in South America that had to be paid? Greens fees are rising as well and they add up pretty quickly too. =)