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About two months ago, on April 3, I posted Reinhart and Rogoff Fight the Fed, in which I said: …the permissive financial environment of the past few years in which the different assets of bonds, stocks, and gold all appreciate in nominal terms. This in fact is what happened both in yesterday’s trading (and then prices [...] In 2009, Drs. Carmen Reinhart and Ken Rogoff published This Time Is Different: Eight Centuries of Financial Folly. This academic work became topical as it was nearing its completion due to the “Great Recession”. They added a long ending chapter to deal with the crisis and predicted a great deal of what has transpired: several [...] On June 28 last year, I wrote a post titled Important Battle at Four Dollar Copper. Shortly thereafter, copper surged half a buck but then dropped by one-third to $3. With global money-printing picking up and hopes that only a minor European recession and mild Chinese growth slowdown would let the party resume, copper rebounded- [...] |
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