Yesterday was the Wanna-Be Inflation Blowoff

The same crowd that orchestrated last years commodity run-up while a recession was unfolding, have tried again this year.  It was not quite as successful as last year but it was exciting nevertheless. 

Over the past 45 days we have laid out why we don’t believe that a big inflation run-up is in the cards now.  The stimulus is too feeble and the asset base of most players has been cut back 30 percent over the past two years.  This will lead to a stronger dollar as the world will look to the US for guidance in the next meltdown.

The EMA ETF Fund NAV was 1131 at yesterdays close.

7:38 AM CDT

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