Jay, good morning. Every day there is a LOT of clearing. Today, there was vast buying of shares and clearing of markets. Billions of dollars changed hands in housing, loans, goods and services and employment, clearing the markets and rebalancing positions.
Financial gravity exerts a steady, relentless, irresistible force and as you say, we are coming in for a landing, but note that it is a landing, overall, not a deflationary implosion [though individual mileage will vary and some have been and will be roadkill].
That in itself has been a spectacular success. I really had my fingers crossed for the past few years that my theory would be right that Uncle Al would be able to use money like an air bag in a collision - rapid inflation, absorb the shock, then quickly release the pressure.
Meanwhile, another day, another down. It's almost a trend. Q currency down to US$23. Gold trending up. NZ$ trending down [soon to reach my switch US$ to NZ$ mark].
What a LOT of fun this is.
Mqurice |
