re: amory hill buys the dip ... amory
Good post Rembrant.
One could offer an analogy. Greenspan furiously attempting to inflate the US economy by printing M3 at record levels on the one hand, and then raising interest rates on the other, is like placing one foot down hard on the accelerator with the other foot touching the brake. A delicate balance, with the wrong adjustment having the potential to wrap the family car (Cheverolet Malibu?) around a tree. Probably a bit excessive, but there you go. IMO it remains to be seen whether the brake needed to be touched at all (that is, inflation being a bit of a trick or a con to achieve short-term goals). But, it is a good "toe in the water" exercise to see what happens. Given the economic data that has come out in the last 2 weeks, I suspect the brake will go untouched again for quite a while. Sorry if that sound like a Bloomberg sound bite.. This may mean a resumption in USD weakness, and may also mean that most $USD commodity prices (and therefore Aussie resource stocks) are not shot ducks just yet?
