 | |  | | 本帖最后由 sharkeater 于 2009-6-2 19:10 编辑
介绍一篇文章,和观点。 看不懂,有问题提出来询问。
Are You Prepared for Inflation's Impact on Dollar Markets?
By Darrell Jobman
Traders always operate in an environment of uncertainty. Even when they "know" something will happen or they think they have a market figured out, the market usually does its best to take twists and turns that keep most people from participating in a price move.
That has been the nature of markets for many years, but the current climate has probably produced more diametrically opposed views than ever - stocks are in a new bull market/stocks are only in a bear market correction, oil prices will never recover/crude oil will reach $200 a barrel, economic recession/economic recovery, strong dollar/weak dollar, inflation/deflation . . . You can get some very plausible arguments for either case. VantagePoint, a trading tool, gives you highly accurate predictive information reflecting the intermarket dynamics that drive today's financial markets.
Although no one knows exactly what will happen, let's start with what we do know. If your town is like my town, you were amazed as McMansions were built and housing developments sprang up on the outskirts of town from roughly 2002 to 2007. Who could afford to buy these homes, and where did the money come from to finance them? Tsk, tsk, you "knew" it couldn't last. Meanwhile, lots of people made lots of money while you sat on your hands - or maybe got into the game late. Just like the technology stocks bubble of the late 1990s.
Now, we know, of course, that seldom has so much money been created out of so much air with so little substance with so much greed and so little responsibility. No one seemed to recall the Japanese bubble or the farmland or savings and loans debacles of the 1980s or other recent examples of real estate exuberance. Now, there is no doubt that we are in an ongoing credit crisis and financial crisis unlike anything most of us have experienced in our lifetimes - a generation-shaping event like the Great Depression and World War II.
To deal with the financial crisis, everyone knows the U.S. Treasury and Federal Reserve have created billions of dollars out of thin air and pumped up banks and insurance companies and automakers and many other areas of the economy with those billions of dollars in stimulus and bailout programs. Furthermore, other nations are being forced to make similar stimulus efforts. VantagePoint Intermarket Analysis Software gives you the information you need - when you need it - so you can gain an early edge in forecasting market trends that can dramatically improve your trading performance.
Everyone knows that so many new dollars and such reckless spending will lead to higher inflation rates. Well, we don't really know that yet. But for anyone who can connect the dots, it seems like a logical outcome.
Actually, inflation is already occurring if you accept that the meaning of the word is an increase in the supply of money relative to the supply of goods and services. The Federal Reserve has nearly tripled the amount of credit since last September - new "money" injected into the financial system via various lending programs - and who knows how many bailout and economic stimulus dollars have already flowed out. . . with more on the way? We are no longer talking about billions but trillions of dollars in the biggest expansion of credit/money that the world has ever seen.
The effect of inflation is usually rising prices of goods and services and interest rates and weakening in the value of the currency being expanded and diluted - what many people describe as inflation. So far, that effect really hasn't been noticed or acknowledged with housing prices remaining in a slump, auto makers and other companies going bankrupt, factories being idled or downsized, jobs being lost and unemployment rising, shopping malls and other commercial real estate in danger of default . . . In short, it seems like a very un-inflationary time.
But it seems inevitable that the consequences of the massive increase in money and credit are on the way. Just as visionary traders might have positioned themselves for the collapse of the commodities bubble in the 1970s and again in 2008, the interest rate surge of the early 1980s, the dot.com bubble of the late 1990s or the housing bubble of the 2000s, it seems like it's time for traders to anticipate and prepare for the next stage of economic history, an inflationary spiral that one can only hope will not escalate into hyperinflation. |  |  |  |  |
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