Alex....
The contrary investor piece was a very good read, and well worth the time to do so. I found it to be one of the more balanced pieces I have read on the Fed's new move to reflate the economy and its ramifications, and agree with most of its conclusions.
I was especially interested in that he had the first plausable explanation that I have heard for the current deflationary problems that are alongside a rising and close to breakout CRB index, which has been a puzzle for me.
The one place I disagree is that they refer to Bernanke's talk and paper as a "rookie mistake" - saying more than a Fed member should about potential Fed policy. I disagree strongly with that idea, and think his speech was very well vetted beforehand by the other members (especially Greenspan) and reflects the current thinking there. It was intentional, not a "rookie mistake", and I believe it accurately reflects current Fed thinking - remember the Fed white paper discussing the things that Japan could have done to prevent deflation from setting in.
Thanks again for the good read.
mlsoft
