Second, the slope of the line if the graph is very revealing.
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Anytime you see an inflection point (a sudden change in the direction or slope of a line) in a graph that amalgamates the decisions and actions of hundreds of millions of people, you are witnessing the impact of government policies.
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If expansions in base money were correlated with predictably higher GDP growth, and contractions in base money were correlated with predictably lower GDP growth, the slope of the line would be flatter and the fit would still be reasonably good.
Stated differently, if Simon was really betting that inflation-adjusted prices of a basket of commodity prices have a significantly negative trend over long periods of time, and Ehrlich was betting that the slope of that line was significantly positive, I think Simon wins the bet.
After all, one can plot a line of most any slope or shape through a single point.
However, investors should also keep in mind that average prices for crude oil (Brent, WTI, Alaska North Slope) in Q4 2012, have generally remained in line with the previous quarters.
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He saw things he recognized but his brain, befuddled with chemicals released by fear, couldn't locate the words to describe them: the twin stacks spewing plumes of dirty white smoke, the abandoned custom's station with a faded red star painted above the door, the line of white-washed bee hives on a slope near a copse of stunted apple trees.
But Russian diplomats have held the line against economic sanctions, describing them as the start of a slippery slope to military intervention, which Russia opposes.
Once, when she turned to look out the window, I saw in the mirror the curved line of her forehead, the upward slant of the bottom of her nose, the little slope between her nostrils and her upper lip, and I was struck by the fine liveliness of her profile.
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