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This post originally appeared on RealMoney Silver on Dec. 16.
When I understudied for Doug Kass in The Edge, his RealMoney Silver trading diary, way back in February, my theme was "That '70s Show," with the concern at that time being surging inflation caused by the Fed's massive money creation in the second half of 2007.
Well, Fonzie, those certainly were "Happy Days," being pre-Bear Stearns, Fannie Mae (FNM Quote), Lehman Brothers, American International Group (AIG Quote), General Motors (GM Quote) and Madoff. Inflation did surge in the first half of 2008, but the financial crisis subsequently intervened, and now we are plunging into what could be the worst recession of the post-War era. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.12 |
Oil *
77.25
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DOWN
154.48
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DOWN
19.14
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DOWN
37.61
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DOWN
0.67
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10 Yr
3.21%
SPDR Gold
115.06
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-1.48%
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-1.72%
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-1.73%
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-2.04%
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