Oh, you take me too seriously sometimes, Steve. I should hang grinnies all around that bond market post. I was using more than a little irony (you should have seen my face). But, I do think the bond market as the mover and shaker is the conventional wisdom. In that respect, I agree with Krugman. I have no really serious idea about bonds versus gold.
If, however, what moves markets is very heavily expectations, perceptions, hopes, wishes, etc., then the bond market is the big mover; not the gold market.
Save for a few posters on SI (the mirror for you) and a few, very few, talking heads on CNBC, gold rarely enters conversations. |
