Energy Higher, Earnings Lower

Charles Hugh Smith is smart--he's made the connection between lower wages and higher energy prices, the classic stagflation of the 1970's, which began America's descent in purchasing power.  But he's not that smart.  He believes gold may be due for a steep correction.  He could be right, but he obviously hasn't made the historical correlation between the rising price of oil in tandem with the rising price of gold.  One can't happen without the other.

http://charleshughsmith.blogspot.com/2012/10/energy-higher-earnings-lower.html