“In many respects, the market action over the past 2 years — in stocks and gold — seems to reflect a misunderstanding of how periods of monetary expansion affect consumer prices and asset prices. In the pages that follow we’ll highlight a few of these monetary expansion/inflation misunderstandings, and we’ll explain why equity investors should be growing more pessimistic — not optimistic — in light of current market valuations and the Fed’s continued quantitative easing.”
http://www.sitkapacific.com/wp-content/uploads/May-2013-Strategy-Letter4.pdf
Related posts:
FISA-Gate: The Plot To Destroy Our Republic
Do Citizens Have the Responsibility to Protect the Police?
Michael Scheuer: For Egypt’s Islamists war is a legitimate option
If NATO Is Obsolete, Stop Feeding It
Bill Bonner: And the Next Fed Chairman Will Be...
Why Is No One Listening to the US Government?
An Open Letter to the FBI
QE Won’t End—It Will Increase
Bill Bonner: A Secret Only a Tiny Number of Investors Understand
Gold: Fear vs. Greed – and Taxes [Bullish]
The “Moral Obscenity” of Washington’s Empire
Question the 'National-Defense' Exception to Free Trade
US Evacuation in Libya Shows Ill Effects of US Interventionism
The American Democracy Pitch
Cracking of the Euro-Elite ... The Triumph of Hope?