Jan Rogozinski

Five Most Promising Emerging Market ETFs for 2009

In the market, one must consider both reality and investors' fantasies.
(1) Some brain-dead folk think that huge government deficits, 0% interest rates, and vast increases in the amount of paper money AUTOMATICALLY lead to inflation. They don't. Consider the 2000's. Greenspan kept interest rates at 1% year after year. Bush combined $3 or 4 trillion worth of silly aggressive wars with ending taxes for the rich, doubling the deficit every year. Meanwhile the Fed happily monetized Bush's deficits.
SO, DO WE NOW HAVE INFLATION?? OR DO WE HAVE DEFLATION?

(2) However, brain-dead folk still think we will inflation "some beautiful day" and their silliness moves markets. Hence, for example, the run up in gold. So one might well have bought gold, even though one knew it is, as far as reality goes, a dumb investment.