Gold Still Shining/ House Affordability

Posted by David Rosenberg - Gluskin Sheff

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In Today’s Breakfast with Dave

– U.S.A. Today: We want to emphasize how important it is to go back and re-read these two articles in Wednesday’s USA Today edition — Mortgage Rates Fail to Motivate and Recession’s Impact on Us

– Gold still shining: We may not have a whole lot of conviction over the corporate profit outlook, but we do have conviction over the looming growth rate of fiat currency; gold, and silver, are likely going much higher still

– Housing affordability in the U.S. surges … so what?

– Renewed housing deflation… the culprit? A new wave of foreclosure supply is saturating the market

– Talk about insatiable investor income appetite: investors gobbled up $100bln of investment-grade bonds so far this month

– U.S. regional manufacturing indicators are mixed

… it all HERE