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November 8, 2007
"Poems are made by fools like me, unlike this 'fearful symmetry'"
I was amused by the headline of the featured item in the print edition of today's Financial Times "Lex" column, to wit: "Fearful Symmetry."
The column goes on to relate how the prices of gold and oil are heading toward $1,000 an ounce and $100 a barrel, respectively.
The emphasis of the piece was on how people seem to like round numbers when it comes to targets.
But what got my attention was the graphic (top) that accompanied the piece.
Looks like Mr. Gold and Mr. Oil are headed for the same hotspot, once you multiply the latter's unit price by ten.
Even a blind, anosmic pig finds an acorn every now and then.
November 8, 2007 at 02:01 PM | Permalink
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Comments
The increase in the price of oil and gold is exaggerated by the fact that both are traded in US dollars.
Since the US dollar has been sliding quite rapidly relative to every other major currency (and most of the minor ones), oil and gold prices would be "rising" even if the actual value of those commodities was not changing at all.
Posted by: Daniel Rutter | Nov 8, 2007 4:08:30 PM
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