1. I heard on a recent podcast that the quote you ascribed to Ben Graham is actually inaccurate. Warren Buffett said it but ascribed it to Graham. I haven’t done the fact checking myself but I wanted to give you a ‘heads up’.
2. I agree that the US has avoided recession mostly because of fiscal largesse. I also agree that the deficit will need to be addressed at some point. However if Pippa Malgren is correct and we are at war, the talk of‘largest peacetime deficit’ is mistaken. Perhaps the task of investing going forward is to avoid being assigned the cost of the policy. My first inclination is to avoid long duration debt like the plague.
I subscribe to Jim Stack's InvesTech newsletter, and they track many different indicators--some public, some proprietary, and it's a similar story of "haven't ever seen these indicators look like this and not been in a recession". I also think the US market has especially lost its way in thinking tech can some how magically propel us without oil, gas, coal, metals, etc. Is "The Great Disconnect" the signal for the next commodity supercycle?! You have a good theme here, and I'm looking forward to the subsequent parts.
I remember seeing "Being There" when it was first released in 1979. It was the most disturbing movie I had seen to that point in my life, and maybe one of the most disturbing of all time, given the clearly realistic idea that Chance the Gardener, who had no skeletons in his closet, was deemed a viable presidential candidate. I often think about the current president and wonder if Chance would be worse. at least he was honest.
meanwhile, the disconnect is completely real and growing more evident by the day. It cannot end well, and I think what we all need to do is work to find ways to protect any assets we have from the coming storm
Very depressing about your efforts to offer an alternative for November. For me it offers further evidence that much of the destruction of this country is on purpose - it’s happening in every area. When the will of the people is ignored at every turn - and these same people demonised by name-calling and smears - it’s not because bureaucrats and politicians are merely immature and stupid, it’s because their pockets are filled by others with more cynical interests. They know exactly what they are doing.
There is RFK Jr, who may not be economically transformative, but will at least stand for what he believes in.
So the Economist chose a pumped up body builder image to symbolize the U.S. economy…I guess they didn’t see the irony
between steroids and QE?
David,
A couple of points:
1. I heard on a recent podcast that the quote you ascribed to Ben Graham is actually inaccurate. Warren Buffett said it but ascribed it to Graham. I haven’t done the fact checking myself but I wanted to give you a ‘heads up’.
2. I agree that the US has avoided recession mostly because of fiscal largesse. I also agree that the deficit will need to be addressed at some point. However if Pippa Malgren is correct and we are at war, the talk of‘largest peacetime deficit’ is mistaken. Perhaps the task of investing going forward is to avoid being assigned the cost of the policy. My first inclination is to avoid long duration debt like the plague.
I subscribe to Jim Stack's InvesTech newsletter, and they track many different indicators--some public, some proprietary, and it's a similar story of "haven't ever seen these indicators look like this and not been in a recession". I also think the US market has especially lost its way in thinking tech can some how magically propel us without oil, gas, coal, metals, etc. Is "The Great Disconnect" the signal for the next commodity supercycle?! You have a good theme here, and I'm looking forward to the subsequent parts.
I remember seeing "Being There" when it was first released in 1979. It was the most disturbing movie I had seen to that point in my life, and maybe one of the most disturbing of all time, given the clearly realistic idea that Chance the Gardener, who had no skeletons in his closet, was deemed a viable presidential candidate. I often think about the current president and wonder if Chance would be worse. at least he was honest.
meanwhile, the disconnect is completely real and growing more evident by the day. It cannot end well, and I think what we all need to do is work to find ways to protect any assets we have from the coming storm
That was excellent.
Very depressing about your efforts to offer an alternative for November. For me it offers further evidence that much of the destruction of this country is on purpose - it’s happening in every area. When the will of the people is ignored at every turn - and these same people demonised by name-calling and smears - it’s not because bureaucrats and politicians are merely immature and stupid, it’s because their pockets are filled by others with more cynical interests. They know exactly what they are doing.