The coming deflation needs to be swift enough to out-run the actions of the Fed and Congress. If it happens fast, they won’t be able to act quickly enough to turn the credit deflation into a currency inflation before the former trend has run its course. Take a good, long look at the chart. This might turn out to be the profile of the stock averages when the big capitulation hits….
According to Wall Street, well-established rating services are to corporations what Roger Ebert is to cinema. Two thumbs up or AAA -- it's all the same. Or is it? Time and again, the hired prognosticators do not "see" the real value of a company until its completely obvious to everyone else. By then, it's too late...
Announcing EWI's New eBook ...
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