Friday, November 27, 2009

DUBAI DEBACLE UPSETS THE DOLLAR CARRY TRADE...TEMPORARILY.

THE ENTIRE MARKET IS A TOXIC SOUP...WITH PLENTY OF UNINTENDED CONSEQUENCES... LIKE TODAY...

GOLD IS STILL THE ONE STOP...NO BRAINER... SO... GOLD SNAPPED BACK NICELY TODAY...

EVEN AS THE GLOBAL ECONOMIC TOXIC SOUP RESUMES ITS BOIL...

THE DUBAI DEFAULT IS VERY DANGEROUS... MAJOR COLLAPSES ARE ALWAYS STARTED IN THE SMALLEST PLACES... THE ONLY CONSOLATION...IS THAT CENTRAL BANKS ARE NOT AFRAID TO PRINT MONEY LIKE MAD...

BUT THAT IS NOT A SOLUTION TO THE DEBT BUBBLE...IT ONLY MAKES IT WORSE IN THE LONG RUN...

BUT WE GAVE UP ON LONG TERM THINKING A LONG TIME AGO...

WHEN THIS GLOBAL DEPRESSION FINALLY CRASHES AND BURNS... FOR THE LAST TIME...THE NOTION OF INSTITUTIONALIZING "LONG TERM THINKING" WILL BE THE KEY STONE OF WHATEVER COMES NEXT...