It’s starting to hurt some people for sure. When the pain becomes unbearable, when normies start talking about “the market” then it will be time to buy heavy.
I thought we’d bounce by now but I was wrong. Commodities have been killing it since Joe got elected (or erected) and I think they still have lots of upside.
On a side note, the silver guy, Robert Kyosaki (I’m sure I spelled that wrong) thinks 50% of Americans will die because of inflation and food shortages. He’s been wrong about silver basically since forever, I hope he’s wrong about that one too.
A fair number of financial prognosticators have an amazing tendency to be quite wrong, or at the very least way off on their timing.
Gold guru Peter Schiff has been forecasting the imminent demise of the dollar for the last ten years or so. Eventually that demise will come to pass and he'll say "see? I told you so!"
Ronan Manly said Russia's gold peg meant there was a floor price for gold--and the markets promptly took the price of gold well below that floor where it has stayed ever since.
During the European Sovereign Debt crisis of 2010, I would have bet money on the Eurozone cracking up--and would have lost every penny.
Still, when all markets head south at the same time and to this degree, that's unusual. There's literally no bright spot anywhere. There's not even a flight to safety in gold.
That's how I conclude that the paper wealth tied up in financial markets is simply disappearing. If that is in fact what is happening, there will be knock-on effects that likely will not be comfortable for folks on Main Street (the eternal problem of Wall Street financial crises is they inevitably infect Main Street finances, which leaves the average Joe well and truly screwed).
It’s starting to hurt some people for sure. When the pain becomes unbearable, when normies start talking about “the market” then it will be time to buy heavy.
I thought we’d bounce by now but I was wrong. Commodities have been killing it since Joe got elected (or erected) and I think they still have lots of upside.
On a side note, the silver guy, Robert Kyosaki (I’m sure I spelled that wrong) thinks 50% of Americans will die because of inflation and food shortages. He’s been wrong about silver basically since forever, I hope he’s wrong about that one too.
A fair number of financial prognosticators have an amazing tendency to be quite wrong, or at the very least way off on their timing.
Gold guru Peter Schiff has been forecasting the imminent demise of the dollar for the last ten years or so. Eventually that demise will come to pass and he'll say "see? I told you so!"
Ronan Manly said Russia's gold peg meant there was a floor price for gold--and the markets promptly took the price of gold well below that floor where it has stayed ever since.
During the European Sovereign Debt crisis of 2010, I would have bet money on the Eurozone cracking up--and would have lost every penny.
Still, when all markets head south at the same time and to this degree, that's unusual. There's literally no bright spot anywhere. There's not even a flight to safety in gold.
That's how I conclude that the paper wealth tied up in financial markets is simply disappearing. If that is in fact what is happening, there will be knock-on effects that likely will not be comfortable for folks on Main Street (the eternal problem of Wall Street financial crises is they inevitably infect Main Street finances, which leaves the average Joe well and truly screwed).
“ALEXANDER AND THE TERRIBLE, HORRIBLE, NO GOOD, VERY BAD DAY”
by Judith Viorst
"I went to sleep with gum in my mouth and now there’s gum in my hair and
when I got out of bed this morning, I tripped on the skateboard and by mistake I
dropped my sweater in the sink while the water was running and I could tell it
was going to be a terrible, horrible, no good, very bad day."
When I read this it reminded me of Alexander......just a little laugh in this crazy world we now live in.....
A little laughter is usually the best medicine. Especially in the face of a terrible horrible no good very bad day! 😉