So often of late I hear the phrase "commodity X posts another record gain, on weakness of the dollar." Is there any true arbitrage that would cause a drop in the dollar versus euro, yen or another currency to translate into a rise in some global commodity, particularly oil? Or is this just another thing to say when no other explanation is apparent? I suspect the later, though it makes intuitive sense that a weaker dollar would be inflationary for global type products.

Heard another good definition of a bull market recently, as those times when all are waiting for the final shoe to drop. Which of course it never does.

I predict the Fed makes a tidy profit on the loans to Bear Stearns, when they are finally sold off, plus interest. Like Doc Greenspan back in the S&L days. Wonder if Bernanke was taking notes back then.





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