This Diminished Greenback
How fitting, for an industry fixated on black swans, that I am reporting from the land of the Black Swan. I am finishing up a short trip to Perth in Western Australia, and my time here was instructive for investing lessons we can apply to our markets.
Most notable, in this clean and modern city, is how expensive it is. The prices would have been reasonable back when the Aussie dollar to US dollar was at 0.7. But now, at parity, I am reminded of how we Americans are impoverishing ourselves with the natural devaluation that comes from printing massive amounts of money. The U.S. is by no means in a hyperinflation -- although some worry about that outcome -- but we are accelerating the long-term depreciation of our currency....144 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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