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I often have very intelligent editorials sent to me. I thought this one was worth sharing...
KM

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I was up in New Hampshire this past weekend. My friend's father came up in the investment world in the 60s and 1970s and amassed a fortune selling his asset management business to one of the biggest firms on Wall Street in the early 1980s, and then investing on his own thereafter. He is actually going to introduce me to the CEO of a very successful Healthcare IT company who owns an interest in.

We were talking about the markets and the 1970s and he made a couple of interesting points. In the 70s there was no doubt about the supremacy of the US military and the dollar as the reserve currency of the world. He said that while we are still the dominant power, there's never been a period like this where so many small countries are essential flipping the bird at us.

The US Dollar's weakness speaks for itself. While the parallels to the 70s are interesting, it may actually be worse this time. Also, I listened to Bloomberg radio last night with a technical analyst Louise Yamada and her thought was that conditions today are more similar to the period from 1 than the 1970s.

For what it's worth...

-The Professor