The shiny new Democrat-dominated Congress was suppossed to have a stimulus bill waiting for his signature on inauguration day. Then it was early February. Now Nancy Pelosi is putting a mid-February target on getting a package to the President’s desk.
Meanwhile, the US Chamber of Commerce is on the wires with a dire economic forecast for 2009. Unemployment will reach 8.5/9.0%, Q4 of 2008 should shrink in excess of 5%, they say and the bootom of the recession won’t be seen until late 2009.
Economic weakness is undermining gold this morning The yellow metal is down 3%. This is helping stall dollar weakness.
