Don't Believe the Hype

Recent news on the economy is exuberant. The Dow, we are told, is reaching record highs, economic growth is unbelievable, we are skyrocketing. Don't believe it. It is true that this is the case, when the Dow is measured in dollars and euros. However, the dow, as measured in gold, silver, copper, industrial metals, crude oil, food, and stuff, is crashing. What does all this mean?

It means that the mad prophets of gold were proved correct. The US' fiat currency, not tied to any hard material whatsoever but instead simply set arbitrarily by the Federal Reserve, has become totally divorced from reality. The forces behind the economy have become almost entirely those of malinvestment, engineered by the puppeteers in the central bank. Expect a painful bust to follow this boom. Here is some data: