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Strategies & Market Trends : The coming US dollar crisis
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To: Real Man who wrote (23462)10/13/2009 12:25:00 PM
From: Tommaso2 Recommendations  Read Replies (1) of 71475
 
Recent conversations with a variety of people (U.S. citizens) convince me that Keynes was correct about the inability of the huge majority to understand anything about the causes of inflation. People talk ruefully about how much hotels in Europe cost, how little their dollars will buy abroad, and how their personal wealth and income are down. They have no concept of how much worse it can get and expect to wait out the bad times.

The bull market in stocks that ran at least 18 years starting in 1982 convinced people then in their forties and fifties to put most of their savings in equities. The actions of Congress and the Fed may restore some of their nominal wealth but . . . no need to repeat what everyone on this thread knows.
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