Something rather strange is going on. Ten year Treasury yields and gold are simultaneously envisaging inflation and deflation. Yields on the ten year Treasury note have jumped from 1.98 percent to 2.34 percent during the last 30 days. Gold’s price, on the other hand, has dropped about $100 an ounce during this same time.
Who’s right…Treasury yields or gold? Will there be inflation or deflation?
These were the questions that faded from our thoughts as we traversed east along the 60 freeway from Los Angeles to Oak Glen last Saturday. The answers seemed to matter less and less the further the urban sprawl receded behind us.
Oak Glen, located just past the outer limits of Southern California’s sea of concrete, is a world apart. The air is clean and crisp at its mile high elevation. The locals are relaxed and amiable…not frenetic and mad.
There are no stoplights or franchise drive-thrus. Billboards and transmission lines do not blight the landscape. These, and other aesthetic eye lacerations, end (Read More....)
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