Playing With Fire

Friday, February 4, 2011, 5:33 PM
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There were rolling blackouts and natural gas delivery failures in the southwest, long bonds broke to new multi-month lows (that is, yields are rising), and Bernanke claimed that the Fed's policies have nothing to do with global commodity price increases.

Those may sound like entirely unrelated events, but I see them as intimately connected. Here's how:


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