A Great Correction is very different from a recession.  It is not a pause in an otherwise healthy economy. Instead, it is a change of direction -- an adjustment to new circumstances.

Don't expect a balanced budget for this year or any year of this president's administration.  Instead, he'll add 75% to the nation's official national debt -- three times more than all the presidents who came before him put together.

Americans are having a hard time making ends meet.  Their incomes are falling in real terms.  Measured by the official core CPI, incomes are about flat for the last 10 years.

Will the Fed be more optimistic tomorrow?

Even modest cuts proposed by the Republicans don't have a chance.  Every privileged group threatened by the cuts will mobilize.

There has been a lot of chatter this morning about how non-commercial or speculative euro positioning turned positive for the first time in eight weeks.

Be accountable to someone other than yourself can be a big help in profitable trading.

Traders said that gold sales to China had jumped 30-50 per cent since Christmas, driving the cost of kilo bars in Hong Kong more than $3 per ounce above the market price of gold, the highest level since 2008 and an indication of the tightness in the physical market.

The dollar is looking at a potentially, trend-defining period over the coming week.

The euro hit fresh multi-month highs amidst a considerable improvement in European sovereign debt markets, defying expectations and becoming the top-performing G10 currency in the five-day stretch.