FXI-SPY ratio & its implication

China is a leader, SPX a laggard.  The ratio usually leads the SPX by several months and now it appears the broad US market is finally getting in line w/ FXI-SPY.  The implication of the chart however, is that this will not be Armageddon '08 or anything like it.  And when you read what Leapin' Larry is putting out in the media, you can kind of see why. 

It will eventually be "inflation all the way, baby" in the words of the dear departed (from this blog's 'Gold This Morning' post) Jonathan.

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