Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

We had a hell of a storm in Connecticut yesterday – and there’s no calming down the raging Full Investing Cycle bull market in Gold this morning either!

“There are two major cycles in American history.” George Friedman

The aforementioned quote comes from Friedman’s latest big picture macro book, The Storm Before The Calm, where he makes a compelling case for both the “Institutional Cycle” (80 year cycles) and the “Socioeconmic Cycle” (50 year cycles).

“This is the first time in American history that the two cycles will culminate so close together, practically overlapping. That obviously means that the 2020s will be one of the more difficult periods in American history.” 

Gold looks like it agrees with that too.

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