IMO the only thing that will lift the markets, gold, and gold miners is more inflation. That means more QE and more fiat money printing. Why was this quarter the worse one since Q1 of 2009 in the overall markets? Because there's been no QE to prop it up. The Fed and everyone else knows it. The Fed is even fighting amongst themselves about the lack of good QE does, as it hasn't helped housing or the unemployment situation in the least. The only thing it does help is the stock market and inflation, because money printing is inflationary.
The Fed's supposed dual mandate is low unemployment and low inflation, but with the situation the economy is in they're trying to create inflation to keep the economy out of recession/depression. There's only so much they can do to help the economy with the tools available to them and IMO they're no doubt running out of bullets. Bernanke so much told Congress in a speech he made recently. Obama and the Republicans aren't going to see eye to eye on anything, so there's a deadlock on the fiscal side of the ball. IMO QE3 will most likely be a reality before the end of the year.
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