“I think this is a precursor to a trade/currency war. Tariff is not such a bad word in lots of countries, and money printing is easier for China/india/brazil then it is for us. So we either get a race to the bottom in currency valuation (Armageddon) or we get rising tariffs and there is nothing to buy because we don’t make crap (Armageddon).”

Correct. But there will be pain. Lots of it. Even in Carmel Valley. Bernanke seemingly bought you CV homeowners a couple of years but when you go the grocery store and pump (soon) you will see the price you’ve paid for that. The frightening thing is that what he really wanted was have that house start going up in value again…not gonna happen without wages.