Commodities as a group have been underperforming equities for about six months now. The correlation between the two groups has been grinding lower. Even more important, I think the underperformance of commodities—and by extension emerging markets—will persist for some time.
Hang on. If the…
And that is why they pay him the big bucks. key takeway - there is a fundamental misunderstanding of monetary policy and inflation mechanisms.
On the left, Balthazar’s specials in 2001. On the right, Balthazar’s specials in 2013. If you ordered the special every day but Thursday, the total cost (before tax, tip, etc) would have gone up from $135 in 2001 to $234 in 2013: that’s an increase of 73% in 12 years. By contrast, to keep up with inflation, $135 in 2001 should be $175 today.
I shudder to think what the delta is at Sydney restaurants.
Russian artist Leonid Tishkov doesn’t just experience the moon from a distance, but rather, he has a regular, close-up love affair with the glowing lunar sliver found throughout his ongoing project, entitled Private Moon.