http://www.lewrockwell.com/north/north501.html
CONCLUSION
We are in pre-recession mode today. Bond investors understand this. Stock market investors don’t. Neither do gold and silver investors.
The threat of recession to equities – ownership shares – is universal. There is much less threat to credit instruments: CD’s and bonds.
This time it may be different. But the inverted yield curve reveals that the smartest investors think it won’t be different.