Strength across the broad commodity sector has lifted the CCI to yet again another new all time high. Seeing that it is the end of February, we have what now amounts to a new all time high closing price on the daily, weekly and monthly charts.
This continues to occur across a backdrop of a weaker Dollar and a soaring stock market. The Fed of course will continue denying that there is any connection whatsoever with these developments and its QE policies, but the charts tell a different story.
Bernanke and company wanted to produce inflation to stave off what they view as the more dangerous deflationary pressures. They got what they wanted.
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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