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| They were doing the same thing at this point of the last cycle. Remember "guns and butter"? Remember the "WIN" button? *No one* thought anything could be done about it. I fully admit that things are not "the same" this time, but the similarities are hard to miss. And then there are the signs along the road - copper, oil, corn, beans wheat, etc. Remember, the market will (nearly) always anticipate events.
But, here again, I don't know what the future holds. If you are reading into what I write anything other than that, I have done a poor job of writing. The only thing I (think I) know is that it is folly to be sure of what you believe. | |
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John - inflation/deflation - probably one after the other
