Hello CB, <<... Ben Bernanke to the Fed? Makes me almost giddy with glee>>
I am not almost but totally giddy with knowledge that Bernanke and Greesputin will make me explosively wealthier.
<<Not quite as good as, say, nominating Friedman would have been in 1930, but sort of in the same ballpark>>
Yes, we will end up in the same 1930s ballpark by a different route.
We must take care with investment allocation to take advantage of Bernanke, exploit his fatal flaw, leverage enough but not too much, edge towards the efficient frontier, and gain by his mistakes.
In this game, cash is no longer the answer.
I figure we will see in 2003 the inklings of trade protectionism in all its variations, with cries for tariffs, calls for competitive devaluation, and screams due to pension and social security losses.
Many electorates will vote with street demonstrations, and many other electorates will ballot with currency flows.
The music for the Script is quickening, and yes, I am giddy with anticipation;0)
Chugs, Jay |
