Keep the faith
Stocks dipped a little today, and gold and gold stocks were worse, on Fed minutes indicating no imminent QE3.
Sure, we could get a brutal correction this year in stocks, gold, or both. You could argue Bernanke needs a bad correction politically before he can fire up the printing presses again.
But keep your eye on the horizon. Long term, there's no way the $15 trillion (and counting) in debt can ever be paid back in sound money. Nobody can afford sound money -- not homedebtors, not the banks, and certainly not the federal government which wouldn't be able to make interest payments without slashing Social Security and Medicare.
Therefore, there will be no sound money. Devaluation is the only way out. Real assets for the long run.
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Inflation is progressive utopians encountering resource constraints for the first time.