| if you look at his pyramid, and compare stocks, commodities (oil, natural gas at least, don't know about wheat, soybeans, etc. cause I don't follow them) and real estate compared to say the summer of 2008, my 2008 $$ can buy all of them more cheaply today! I can buy a room at Bellagio in Las Vegas more cheaply, or a vacation in San Juan (even though air fare has gone up). You can talk about inflation in certain asset classes all you want, but the biggies (stock market, a lot of commodities, and real estate to name 3)are cheaper today in 2008 $$. As for the USD: the USD moves relative to the economies of the rest of the world and their fiat currencies. As we continue to deleverage WORLDWIDE, IF there is any order about the process, then I don't see why the USD gets creamed viz a viz other currencies as a reserve currency. You rather have a Euro, yuan, or Yen in your pocket because their economies are going to be booming while the US is in the dumps? Never happen. if there is a currency bust, it's going to be worldwide. Under those circumstances I don't know what's going to happen, but I'll take my chances right here in the old USA! |
