*** Message from Mad Monk ***
I am back from "vacation". Six months ago, I said that when Japan and China devaluate, all bets are off. Now, Japan has devaluated from 130 Yen to 148 Yen. China officially stands firm, but unofficially, the RMB has devaluated 12%. I know. I was in China last week, where black markets in currency thrived. The handwritings have already carved in stone. What we're waiting for is the official confirmation.
Add to the above, Canada has devaluated, ditto Mexico, ditto Pakistan, ditto S. Korea, ditto Indonesia, ditto Russia, ditto India, ditto Malaysia, ditto Australia, ditto New Zealand, ditto Thailand, ditto Singapore, ditto........
Against this backdrop, how could one be bullish in equities? There has been an INVISIBLE crash of equities since January. While the Dow is only off by 9%, the average stock is down a hefty 40%. We are now in a cyclical BEAR market.
Hence I hibernate.
Regards
PS. And Denver won the Superbowl. |
