I have a fear of 2008 repeating, don’t you?
Not so much from a portfolio standpoint, we can always hedge for the downside, but from an economic, end of America, end of the World as we know it standpoint. We survived the last Global economic collapse by plunging most of the Global Governments Trillions into debt yet all those Trillions went towards saving the top 1% (people AND Corporations), who promptly turned around and told the bottom 99% they’d better tighten their belts to pay down the debts they incurred.
Back in December of 2009, I wrote my “2010 Outlook – A Tale of Two Economies” where we discussed the early stages of the Wealth Transfer that was taking place from the bottom to the top as well as the bifurcation of the US Economy into one for the Rich, that was doing very well and one for the Poor – that would continue to get worse. I’m not going to get into the whole thing again, that’s what archives are for and the most relevant quote from that post I will repeat here so we can move on with today’s topic:
OK, liberal rant over now – I feel better having indulged my Dickensian side and identifying with the plight of the workers but workers don’t buy stock market newsletters so f*ck them, right? We are investors and we shouldn’t be worried about if it’s FAIR or RIGHT that we have established an economic engine that funnels the wealth of the nation to the top – if you are reading this article, then chances are you are on or near the top and our job is to figure out how to maintain or improve our position and my biggest failing of 2009 has probably been worrying about the long-term repercussions of impoverishing 295M people when really it’s just us (me and my 9,999,9999 economically close friends) that we need to worry about and we have jobs and money and assets and stocks so, once again – F*ck those people!
Yes it’s very cynical but we have to be very cynical if we intend to dispassionately analyze the markets and pick up and discard stocks as if they were bridge cards. It does make me feel better to occasionally rant and rave about…
