The Way Forward
So, my personal feelings aside, if people want to invest in a meme or follow an influencer to the moon, that's perfectly fine, as long as they understand the risks. My feeling is that these days, most people who are around do, almost assuredly more than in 2017.
The world is moving forward and the cycles are progressing. Bitcoin stepped timidly above $12,000 this morning and gold took another leg higher following the recent pullback.
Stocks are mixed but what really concerns me is the sate of the U.S. dollar. Buffett's speech is more than an echo of the mantra that's been emanating from the likes of gold bugs and bitcoin maximalists for many years.
Now that money is free, everything else starts to get expensive. As the Oracle said...
"Well, we're gonna be negative for a long time. Uhh ... You better own equities. Or, you better own something other than ... than debt. I mean, it's remarkable what's happened in the last 10 years. I've been wrong in thinking that ... that you could really have the developments you've had ... uhh, without inflation taking hold. But uhhh ... we have 120 odd billion in treasury bills (bonds) and they're basically paying us nothing and they're a terrible investment over time but we need to hold them to be sure that we can pay our liabilities. ..."
"If the world turns into a world where you can issue more and more ... money and have negative interest rates over time. Uhh ... I'd have to see it to believe it and we've seen a little bit of it already but I've been surprised ... I've wrong so far. but I don't see how you can create ... uhh ... If you can have negative interest rates and pour out money and create more debt relative to productive capacity, you'd think the world would've discovered it in the first 1000 years instead of just coming onto it now."
Or something along those ... uhhhh ... lines.
Wishing you a wonderful afternoon/evening.
Best regards,
