Gold, silver, oil, Euro... they're all vehicles for people who look at Uncle Buck - slumped and hung over with a mess in his shorts - and scream 'RUN AWAY!!!'. This is quite sad and a little bit scary folks. At what point does the US stock market start to realize that it is a merely a vehicle (denominated in USD) for the hopes, dreams and Wall St. enabled assumptions that have been carried forward from a more productive time. Do I buy oil or the Euro fundamentally? You know I don't in the short term. But if the people get a whiff of Weimar here, it is more than precious commodities like oil that are going to sky. The Fed is in danger of losing control. You know, the man behind the curtain and all...
November 2, 2007
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