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Mr. Macro. Tues 10am. Feb 23 2010
Written by Stewart Thomson
Tuesday, 23 February 2010 10:00
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"the disease is deflation (from delevering), the medicine (in the traditional Keynesian policy response) is inflation
money supply, already in the low single digits, will be negative once the fed is done with this round of QE
the combo of core PCE/CPI and neg money supply can only mean one thing
(and that you are all over) its likely result, much higher gold and a lower $...same thing if/when it happens in Japan, Britain et al...
the record shorts in the euro ought to have their stops close in hand
tomorrow the 1st round of bernanke, perhaps trying to put a brave face on things, the reality of which we know is different...
when I read about the the panics of the 1870's, it sounds much like 29 and 07/08 (and too many other times in history!)...too much leverage, driven by greed, a major human character flaw...so much for bernanke and co studying/understanding economic history...(unless they have another motive)
how paradoxical it is to see china working to grow a middle class while we are working to destroy one
good stuff Stewart, you're the man"

-Mr. Macro. 10am, tues feb 23.

Last Updated ( Tuesday, 23 February 2010 10:02 )