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Date Posted: 16:27:13 06/26/08 Thu
Author: Jay
Subject: Re: shit storm
In reply to: Zombi 's message, "Re: shit storm" on 15:59:14 06/26/08 Thu

The market is in NO way higher than it was two years ago. The dollar has lost near 30 percent of its buying power in the last two years relative to damn near everyone. If you look at what one DOW "unit" would have bought you two years ago as opposed to what one DOW "unit" would buy you today, you begin to see the larger picture. And the Dow is a very poor metric of the US economy anyway, as most of the Dow companies do most of their business overseas anyhow. The fall-out has been much more pronounced in smaller companies, and those that didn't really rebound very well since 2001 anyhow.

This matters. If you want to see what is really scary in the markets today, pay very little attention to the stock markets, and look at the currency markets and realize that the US is worth only about half as much as it was 5 years ago. Nearly 100 billion dollars cashed out and fled the US dollar today, for the Yen mostly, which is a little inexplicable to me at this moment, but I'm sure will all become clear.

Get ready for the world's largest deflationary event ever.

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