Mitchell Clark, B.Comm.

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Immediate term outlook:
The bear market rally in stocks that started March 9, 2009 is coming to an end. Since March of 2009 we have been and continue to be immediate term bullish on stocks. Gold bullion is up $1,100 an ounce since we first recommended it in 2002 and we are still bullish on the metal.

Short-to-medium term outlook:
World economies are entering their slowest growth period since 2009. National U.S. debt increasing at the rate of $100 billion per month will eventually debase the U.S. dollar. Our concern is future deterioration of the greenback, an expansive money supply and rising U.S. national debt will eventually push domestic inflation higher, negatively impacting the American economy and equities.