Japan’s New Government
November 1, 2009
A few months ago, a friend asked what I thought of Japan’s then-potential new government. I told him I’d wait until after the election, then take a look. Well, I finally got around to it. Here are my impressions, in .pdf format.
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Interesting action in the bullion market:
I think it is quite likely that we will have another leg higher in gold, perhaps to the $1500 range. In the past, these legs higher have not caused any distress — on the contrary, they have added that giddy quality common to early-stage inflation. So what’s to be afraid of? However, there’s a chance that things will start to crumble this time around, between now and the end of 2010. We’ll just have to see how it works out.