Nowhere is the inflation argument more relevant today than what we're seeing in the relative performance of the stock market versus gold. After several years of going up and down together, they've begun to diverge dramatically. Since February the April gold contract has dropped more than 7%, while the Dow has risen more than 2%. That's a big divergence, and an encouraging signal that fears of a deflationary collapse have finally faded.
Nowhere is the inflation argument more relevant today than what we're seeing in the relative...
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