Intraday Update - February 23.
We may be seeing a resumption of the bear market downtrend this morning, although there is still a good chance that the markets could recover intraday and push for a final high through tomorrow.
That being said, if we see the following pattern play out through the afternoon, the chance that this is a bear market trend-resumption increase greatly.
Many of the messages on my site as well as emails sent to me attempt to tell me that, clearly, the vast majority of people are predisposed to the notion that "deflation is coming". Funny enough, the vast majority of people I talk to are fully aware of what inflation is, and have come to expect it as a regular occurrence (while you and I know that inflation is, always, a monetary phenomena only capable through direction action on the money side of the economy). Mind you, they don't put it into economic/cause terms in light of total money etc., however they do put it into symptom terms. Something like this: "What is inflation?" A: "Rising Prices". "What is deflation?" A: "Falling Prices?"