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Economic Outlook Doesn't Look Good

|Includes: FXA, GLD, iShares Silver Trust ETF (SLV)

I hate being the pessimist but I believe the jobs number this week will not be good. Recently this week we heard consumer spending increased and Wall Street thought this was good news. However, on the other hand the savings rate fell, and Fannie, Freddie, and AIG needs more bailout money. Wow, who would have thought?

Washington and the Fed keep doing everything that caused this bust in the first place. Now investors are focusing on soverign debt and they are starting with the worst (the PIGS) which has hurt the EURO (which will evitably collapse) and helped the US Dollar. While this is good news for the US Dollar, its strength is shortlived. It is a matter of time till investors realize that the dollar is set to plunge due to ridiculous government spending, and low interest rates again from the Fed (oh wait they raised rates a Inflation will eventually creep in (and even when it does the governemnt cooks the data so never really know).

So what is worth looking into?

The australian dollar looks great as their central bank has raised interest rates (something our central bank should do). Gold has been strong, Oil has been strong, and SLV has been recovering.

Disclosure: Long all stocks mentioned.