CT,I must admit I enjoy the battles between you and SP and I...

CT,

I must admit I enjoy the battles between you and SP and I appreciate the effort you put into your posts but I think you sometimes fall foul of your own advice:

"Is it a case of folks reading all the things they want to see to confirm their scenario and ignoring the facts that contradict their beliefs?"

- How can you comment on the 70s without mentioning wages?
People will pay for $400 (or whatever) oil the same way that they paid for $66 oil. In 1972 the average hrly wage in Australia was $1.68 p/hr. It doubled by 1976. By 1980, it was $4.67 p/hr. What if current wages doubled by 2014? IMO wages (in Aust) are a can of worms ready to explode.

You also said:
"In 1973 AUD was 1.48 USD, talk about USD destruction in that period yet we forget that AUD has been falling much faster in value, what if gold rises to 2000 and AUD rises back to 1.48?"

- I think it a bit sneaky to use an AUD that was pegged to the GBP, then the USD, then semi-floated, then pegged to a TWI and compare it to a currency the AUD that was floated in 1983.


I enjoy your posts but I'd enjoy them more if you added a bit more balance.


Cheers,

c12