My copy of Vox Day’s new book–Return of the Great Depression–has arrived. Hope to read it this week.
Seems like (a) gold is at an all-time high, (b) stocks are at a high for the year, while (c) the dollar is in the crapper and (d) oil prices are shooting above $80 because of the dollar’s demise.
Something’s gotta give.
Trouble is, the dollar is in the dumps because of the enormous amount of debt, and the Fed’s electronic creation of trillions of e-dollars to bail out the banksters at our expense. That’s gonna bite us sooner or later. Oil and gold might continue to spike if that continues.
This would not bode well for stocks, or for anyone with adjustable-rate debt. Even those with fixed-rate debt might be in trouble if their jobs get impacted by the impending shock. This is going to be one hell of a ride, and any one of those cheerleaders–i.e. economists–who are applauding “recovery”, are going to find their credibility in even more disrepute.
The [hyperinflationary] hundred trillion-dollar question? How long will Americans drink their Kool-Aid?