Yesterday we talked about inflationary pressures in stocks and in housing. But the core of the world economy continues to struggle. We are printing like crazy here and in Japan, and equity markets, and to a very limited extent some housing markets, have trended up. But retail sales are trending down. Gold is trending down. Silver is trending down. Europe continues to trend down. China? Well it depends on the day. Things are pretty weird right now. And North Korea is throwing a nuclear tipped fit.