A Word From a Former Soothsayer
After nearly three decades of portraying something like this:
Yours truly left the “Soothsayer” racket. However, I do still have an opinion on markets and economies; but remind all it’s merely an educated guess at best (and unlike this guy, I’ve had ample experience of admitting wrong prognostications).
General Overview – Stamped on my head, and too as many people I can convince as well, is this analogy of what most investors should be until further notice – “Be a live chicken versus a dead duck.”
To say we’re in unchartered waters monetarily-wise across the world is an understatement. The “Don’t Worry, Be Happy” crowd that makes up much of the financial services industry, has turned its clientele into monetary addicts. So long as Central Bankers are giving out free money, ignore the consequences of the piles of debt and party-on dude!
As much as the behavior among these “Pushers” would’ve you believe there’s a “happy ending”, history strongly points to something far worse. No debt problem has ever been solved by issuing more debt.
In addition, economies worldwide are faltering, some badly. Throw in social and political unrest unseen for years (or in some cases never this extreme), and yours truly is not a shame to admit this is his investing home until further notice:
“The four most dangerous words in investing are: ‘this time it’s different.'” – Sir John Templeton