Market focus has shifted almost completely to the size and impact of the U.S. fiscal stimulus package currently under construction.
Few are considering the consequences of such reckless spending, least of all how it will be paid for.
The unspoken truth is that the Fed may eventually "monetize," or print new money to finance the Treasury Dept.'s funding needs, if necessary.
I think the assumption that this new government spending will debase the U.S. dollar at an accelerating rate is going to become apparant by year-end.
The rush to inflation hedges like gold and oil, should likewise accelerate before the year is out.