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A year ago, in the wake of then-announced additional monetary easing measures by the Federal Reserve (which since sent stock prices on a rocket ride for the next nine months), many of our readers feared a major decline in the dollar was imminent. To add some balance to our site content, we asked Peak Prosperity contributing editor Charles Hugh Smith to argue the case for a strengthening dollar. He graciously accepted, and in the year since writing Heresy and the US Dollar, America's currency has strengthened notably vs. its fiat counterparts. Now, after the Fed's announcement of QE3 (plus), many of us are girding once again for dollar weakness. So we've invited Charles to once again play devil's advocate.
The Siren Song of 'Beautiful Deleveraging'
In a world of rising sovereign debts and an overleveraged, over-indebted private sector, history suggests there are only three possible ways out: gradual deleveraging, defaulting on the debt, or printing enough money to inflate away the debt.
Welcome to the Era of ‘Ugly’ Inflation
by charleshughsmithA year ago, in the wake of then-announced additional monetary easing measures by the Federal Reserve (which since sent stock prices on a rocket ride for the next nine months), many of our readers feared a major decline in the dollar was imminent. To add some balance to our site content, we asked Peak Prosperity contributing editor Charles Hugh Smith to argue the case for a strengthening dollar. He graciously accepted, and in the year since writing Heresy and the US Dollar, America's currency has strengthened notably vs. its fiat counterparts. Now, after the Fed's announcement of QE3 (plus), many of us are girding once again for dollar weakness. So we've invited Charles to once again play devil's advocate.
The Siren Song of 'Beautiful Deleveraging'
In a world of rising sovereign debts and an overleveraged, over-indebted private sector, history suggests there are only three possible ways out: gradual deleveraging, defaulting on the debt, or printing enough money to inflate away the debt.
A valuable resource to have on the bookshelf to give insight on how to grow food year-round, even in areas with hard winters and sub-zero temperatures. Now is the time to prep your fall and winter gardens and establish cold frames, row cover and greenhouses for the coming cold.
Four-Season Harvest: Organic Vegetables from Your Home Garden All Year Long
Also check out the WSID article by Woodman, Extending the Harvest in Your Home Garden, to give you a jump start on your garden prep.
Book Recommendation: Four-Season Harvest
by JWA valuable resource to have on the bookshelf to give insight on how to grow food year-round, even in areas with hard winters and sub-zero temperatures. Now is the time to prep your fall and winter gardens and establish cold frames, row cover and greenhouses for the coming cold.
Four-Season Harvest: Organic Vegetables from Your Home Garden All Year Long
Also check out the WSID article by Woodman, Extending the Harvest in Your Home Garden, to give you a jump start on your garden prep.
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