Rally Fizzle-Out Bodes Badly for Markets

5:30 AM ET Tue, 23 Aug 2011

"I think longer-term we're still in a stable range, or even a decline on economic trends, with potentially slowing economic growth in the United States, a lack of direction in fiscal policy, and the issues in Europe that are still unresolved," Michael Cuggino, president of Permanent Portfolio Funds, told CNBC.