In fact he was never even invited to this party, just as his invitation to the last great bull party must have gotten lost in the mail. I mean, back then they at least pretended to want him around, with Mr. Snow trotting out the 'blah blah blah... we believe in a strong dollar... blah blah blah... a strong dollar is in the national interest... blah blah blah...' boiler plate. Whatever China wanted Snow to say, he said. It was simple.Today there is a bit more of an 'every man (or levered up economy) for himself' feel to events. China attempts a massive inflation to bail out a national Ponzi scheme of its own while the US is left to attempt a devaluation in broad daylight. With the goal of raising asset prices measured in the inflated currency and diminishing balls to the wall levels of debt that were panicked into the system.
Here is the monthly (big pic) chart of the dollar. The bull party goes on as long as the USD remains on the outs. The chart mentions 'banana republic'. What I mean is, if the dollar loses the lows of 2008, then there can be no arguing that the next phase of the inflation problem is on. Yeh, we've lived with inflation all our lives. But this would be err, serious. The bull party could go much higher - to best SPX (and HUI for that matter) targets noted in NFTRH44, but if the dollar makes new lows, considering that this would be uncharted territory with no support, the boom might very well morph into the 'crack up' variety. Silly bulls... you don't want a crack up boom, believe me.
