There’s a cheap rhetorical move you see a lot in religious debate, where the God-pusher retorts, “But don’t you ever doubt your doubt?” The hero of Revival, Stephen King’s 2014 novel of loss and obsession, could reply in tones of trembling horror: “All the time. God help me, I doubt my doubt all the time.”
I’ve just heard the news: Justice Scalia found dead on a hunting trip. First, gut reaction: I have not been as unsettled about the future of the country since 9/11.
Open thread.
From Robin Landry of Raymond James
Since The Fed stopped its money-printing extravaganza things have changed a little for the status-quo "believers"...
So, after all this time, we were right - "It's The Fed, Stupid"
Talking of Oil and Gold, last week Deutsche Bank showed a long-term graph of Oil in real adjusted terms, showing that the average real price since 1861 was $47.
Following on from that, Deutsche notes one ratio they occasionally look at is the ratio of various assets to the price of Gold...
Today we update the Oil/Gold ratio back to 1865 and find that the Gold price has just hit an all time high at around 44 times the price of Oil.
The previous high of 41 in 1892 has just been exceeded.