I wanted to post a Reader's Comment in The Age below Pascoe's pump. Too late. The Editor had already closed it.
You can use a chart for all sorts of things. Pascoe uses a 9-month chart for readers to picture a bubble. Here it is.
Is that a bubble chart? Nah!
To build a bubble case you need to show a parabolic chart. Michael didn't! Here are 4 examples from http://www.thumbcharts.com/1310/the-four-biggest-us-bubbles
The gold study from that website is good. Here's a pic. The 'mustard' squiggle in the bottom half is gold today.
Reuters told the world the CME Group were hiking Gold margins by 21 percent. 'The Street' knew it before then. Did MP know that? Nah! Or maybe he did. But he didn't want the reader to know that.
What was that great Mark Twain line? Read a newspaper and you are misinformed. Not read a newspaper and you are uninformed.
