Where The Money Is,Mr.Executive

A frustrated Walmart executive reportedly asked where the money is,noting that February sales figures are a total disaster.One place the money is,is in people's gas tanks.Nationwide,gasoline prices are edging up to 4.00 a gallon-if they are not already there and beyond.It is the earliest in the year gas prices have been this high.Food prices are also running quite high.
Another important fact is,the payroll tax has been reinstated by Congress,and most people are making significantly less now-at least four figures less per year.Mr.Executive,that's where the money is.People are counting their pennies,and it's hurting Walmart sales.
It isn't just Walmart that's feeling the closed wallets,either.It's casual dining establishments;it's also the higher end Macy's department store,as well as Nordstrom and Kohl's.More and more retail stocks are deteriorating,according to Carter Worth,Chief Market Technician at Oppenheimer Asset Management.Americans are gonna start feeling this wherever they are on the income spectrum.
Gold prices have also been declining lately.This looks to be just beginning.This is a mess.I think we're going down to 1500.00 an ounce.Dan Nathan,co-founder of RiskReversal.com and a CNBC Options Action contributor,adds that the technicals make you want to stay away from gold right now.
Oppenheimer Holdings,Inc.(OPY)

Bill Gross:New Normal Seen Persisting in the New Year

Bill Gross,co-founder of Pacific Investment Management Company,or PIMCO,sees stubbornly high or even increased unemployment for 2013,resulting in weak fixed income and stock returns and a surge in gold prices.Mr.Gross issued his firm's "Fearless Forecast" for the new year recently.It shows basically that the economy will trundle along in the new normal as defined by PIMCO:high unemployment;slow growth;and orderly deleveraging by developed countries.
GDP growth will be 2% or less on account of globalisation,deleveraging and demographic headwinds.Stocks and bonds will return less than 5%.The market will also lack the tailwind of the Fed's quantitative easing.The future price tag of Fed policies will be in the form of inflation and devaluation of currencies,relative either to themselves or to the prices of commodities in less limitless supply,such as oil and gold.
Future growth must come from investment in education and infrastructure.It has to be less consumption-oriented.It takes a determination and a  primal-spirited momentum to put this economy back in the hands of the private sector.
Mr.Gross manages the company's iconicTotal Return Fund,which returned a strong 10.5% in 2012.The economy and global economy are limited,he pointed out.PIMCO is a two trillion dollar firm.We'll cross our fingers and we won't be totally confident,but we think we can do it again,the"Bond King"predicted.
PIMCO Total Return Fund Instl(PTTRX)

Asia This Day:Gold's Second Half Outlook

Samsung is going shopping.The Korean electronics titan is looking to acquire medical device makers.It wants to challenge the likes of GE and Siemens in the industry.
Asians are shopping for gold.India and China are bidding up the price of the precious metal.
Both gold jewelry and bullion are in demand,the latter as security in uncertain economic times.The Indian middle class will continue lifting sales in the second half at the Mumbai bazaar.The wedding season in August will contribute to the increase.
China's property controls have slowed growth in the big cities.Now Beijing is imposing such measures in the smaller ones.According to the Xinhua news agency,Q2 residential land price appreciation slowed.Credit Suisse believes that home inventories are so high,owners will have to cut prices.
Asian shares were mixed Monday morning.Hong Kong,Tokyo and Singapore stocks rose,while Shanghai,Seoul and Sydney issues retreated.
Hong Kong saw scattered clouds Monday.It was 82F,with the humidity at 84%.Winds were W at 8 mph,and thunderstorms were in the forecast.