Gold Up, Rate Cut, Recession Looming, Economy Booming

"Flash! Durham, NC: According to the Duke University/CFO Global Business Outlook, 67% of the nation's chief financial officers see the U.S. being in a recession by the end of next year," in spite of things being on the upswing.

Now with all due deference and respect to the noble CFOs across the economic landscape, we have engaged to levels of nauseating detail with many a financial sentinel over the decades. And here's our perhaps not-so-stereotypical view of the modern-day CFO: such is their dedication to their over-worked occupation that they don't get out much. Moored within their four-(perhaps padded)-wall world -- barring the occasional resort boondoggle to schmooze with others of their ilk -- their perception of economic issues beyond their bunker oft appears surprisingly limited: "Oh? Where is Gold these days?" Simply our own impression, mind you, of these dear frazzled souls in their ball-and-chain roles. Unaware or otherwise, those 67% seeking recession we suspect don't check in on our Economic Barometer. Here's why, per the "A Picture's Worth A Thousand Words Dept.":

From its mid-August low to its peak this past week marks the Baro's best up run since the like five-week stint into summer a year ago then following the buoyant fiscal effect of lower taxation across the nation. You know the old song "Lower rates spur housing pace."

In a wave of Fed Follies discourse - or better stated- check out this parade of concurrent incoming metrics: September's National Association of Home Builders Index ticked up to its highest level since October of a year ago; Housing Starts in August were the most since July 2007 along with Building Permits the most since May of that year; and the month's Existing Home Sales were the most since March of last year. As well, August's pace of Industrial Production increased by the most since June of last year, (someone please pass that on to St. Louis Fed President Jimmy Bullard who sees manufacturing as already in a recession); and "surprise, surprise" the Q2 Current Account deficit was actually reduced.

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