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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (7421)	6/2/2004 5:29:56 PM
From: yard_man	Respond to of 116555

I guess he needs a higher low before he can surmise a turn has taken place -- heck, maybe he needs a higher high, too ... by then he would have missed a lot, IMO. Regarding inflation -- he's confused the long term with the short and intermediate term horizons. Another thing that a LOT of people get confused about -- even if you are discussing inflation in the recent narrow terms of an increase in a price index -- is: interest rates DO NOT equal inflation. They are NOT interchangeable. So, showing that gold has had its best recent performance when interest rates are trending down does not mean gold is not an inflation hedge -- it doesn't mean either, necessarily that low interest rates are always inflationary.