tag:blogger.com,1999:blog-9619963.post3527395876177770998..comments2023-12-08T12:50:34.303-08:00Comments on W.C. Varones: Devaluation is like the weatherW.C. Varoneshttp://www.blogger.com/profile/17663570682958847976noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-9619963.post-72686335555795668492012-02-22T19:34:00.627-08:002012-02-22T19:34:00.627-08:00if people want to close their eyes to the inevitab...if people want to close their eyes to the inevitable, their loss. Just make sure you invest in a good home protecting firearm and large dog while you stock up on precious metals....cause the haters will come a callin'SarahBhttps://www.blogger.com/profile/10201948440490000538noreply@blogger.comtag:blogger.com,1999:blog-9619963.post-82006830395433776462012-02-22T15:30:35.215-08:002012-02-22T15:30:35.215-08:00Lie back and enjoy it? Sounds like goldbuggery to ...Lie back and enjoy it? Sounds like goldbuggery to me. Ironically, the dollar has <i>already</i> been devalued and it has not had the impact sought after by the Keynesians and their fellow blog-writing travelers.<br /><br />Please do not confuse anger with annoyance. What is there to be angry about? Because somebody is <a href="http://xkcd.com/386/" rel="nofollow">wrong</a> on the internet? (That the "outhouse macro" piece made the Greatest Hits list does, however, indicate a lack of quality control.)<br /><br />As to whether the price of oil is a result of Bernanke's attempted devaluation, that's debatable. What is not debatable is that the current prices are not even remotely comparable to what happened in Zimbabwe or any other hyper-inflationary sovereign incident.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9619963.post-31022931005022321342012-02-22T07:01:16.555-08:002012-02-22T07:01:16.555-08:00Spot on and anyone who thinks there is an alternat...Spot on and anyone who thinks there is an alternative hasn't spent anytime looking at the myriad examples of how severe over indebtedness is ultimately cleansed. The real question I continue to have is how will it take shape? Will persistently low rates simply exhaust the earnings power of the USD, as we watch the steady creep up in commodity prices? Will Keynesian defenders try stealth price controls? Will the executive branch simply ignore Congress and monetize liabilities, forcing the hand of the Federal Reserve? I am fairly confident that what we won't see is a sudden news splash one day that announces the USD is now worth 15% less. It will continue to seep into the system until the cost of labor in the US is sufficiently competitive with other major manufacturing countries. For this reason, I tend to think in terms of decades, not years, much less months.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9619963.post-17320195773054091472012-02-22T04:43:14.000-08:002012-02-22T04:43:14.000-08:00DDE,
An astute observation, and one ZeroHedge not...DDE,<br /><br />An astute observation, and one ZeroHedge <a href="http://www.zerohedge.com/news/dow-passes-13000-nominal-terms-here-real-picture" rel="nofollow">noticed</a> too.<br /><br />And check out the <a href="http://www.zerohedge.com/news/presenting-biggest-tradeoff-surging-stock-market" rel="nofollow">S&P vs. gasoline</a>!W.C. Varoneshttps://www.blogger.com/profile/17663570682958847976noreply@blogger.comtag:blogger.com,1999:blog-9619963.post-78833892991938255032012-02-22T00:55:43.246-08:002012-02-22T00:55:43.246-08:00It does seem a probability. Consider that both gol...It does seem a probability. Consider that both gold and silver are rising at the same time the stock market is climbing. It may make one think that it is actually the dollar decreasing.Doo Doo Econhttps://www.blogger.com/profile/05010201031724821495noreply@blogger.com