Don't see a managed currency like the yuan accepted as reserve currency. Too many opportunities for hanky-panky.
We'll see, could be wrong.
The recent baby steps are a good thing but presently insufficient, IMO.
Nope, no qe4.
Nothing.
No increase in interest rates, no qe4, no helicopter drops.
Nothing.
At least in USA.
And that's an organically good thing because debt, jeez, the DEBT, globally and local, is incredible.
A drag on growth. Deflationary.
Get gold, silver, etc.
Remember, debt is consumption advanced, savings is consumption delayed.
Consumption advanced means production stalled or delayed in the future, and with ZIRP, means production enhanced in the face of slackened demand because capital is cheap. Ergo, deflation as capital becomes badly allocated and the inevitable writing off takes place with misallocated capital.
Ergo, bankruptcies, crashes, lowered corporate profits, interregna, etc. all of which are starting.
Ergo, wait patiently for inexorable script to unfold.
I've knowingly missed opportunities because script is not written and timing is everything. But the certainty of darkness and the huge opportunities to come pale in comparison to fretting about stock market's zigs and zags. |
