Gary discusses how people are waiting for more stimulus, but the next program will likely not arrive until February. The economy continues to contract, and while some businesses are doing very well, others are being hit quite hard.
The Fed has stated that interest rates will remain unchanged as they still have some options in their toolbox. Expect gold and equities to continue to do well in this environment.
We've had the most massive budget deficit on record at three trillion to fund this crisis. There is still a lot of work to be done, and he expects that 2021 will have a similar or perhaps even larger deficit than 2020.
The government will likely continue bailing out specific sectors through next year.
Typically Democrats spend more than Republicans, and there is much uncertainty surrounding Trump.
What America needs no matter who wins is a peaceful transition of power. From now on, there could be a lot more protests. Gary discusses how fast technology is moving quickly and why that makes him cheerful and optimistic about the future.
Gary believes cryptocurrencies will find a place in the fabric of society. Crypto allows third world countries and developing countries to transfer value with relative ease.
He likes silver as it will outperform gold during moves but will also correct harder to the downside.
There is a finite amount of both metals, and there will always be intrinsic value with these assets.
He discusses what being a hybrid technical trader means for him and how he was mentored by two great technical traders Larry Williams and Don Bollinger.
He says, "Making money isn't that difficult. Keeping it is the hard part." Finding the tops is the hard part of the markets, and he discusses some of the alternative trading techniques he uses.
- Source, Palisade Radio
