Sometimes looking back helps us remember how things have changed and how perhaps they may change again. From the always interesting Zero Hedge Richard Nixon justifying tariffs and price controls. It also has a "don't worry about the dollar decline as it will only affect those who buy non-american and travel abroad."
Scary stuff any thoughts on how far away we are from it today?
The big picture has a nice post showing the 90% decline in S&P 500 profits.
And the first time ever for negative S&P 500 earnings.
I just put a Norwegian Krone & gold currency overlay position on a friends portfolio. We will see how this insurance policy works out in 2-3 years.
Here is a little video with FDR putting on the Gold hurt that caused people to lose 50% on their gold by controlling the sales prices. Please note that "blame the banker" rhetoric never goes out of style.
Here is an Ad for an $8,300 Chrysler from the 80's. Amazingly the thing gets 40MPG Hwy back then.
My first car was a 1968 cadillac limo similar to the one below, which was handy for driving about with ones freinds growing up in Iowa gliding by the corn fields.
