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3 Comments

  1. Some random comments: The geopolitical event of the decade has been the amount of oil and gas found by frackers in the U.S. The Permian Basin alone is currently thought to contain about 2 trillion barrels of recoverable oil, enough to power the economy for a long time. In addition, “flammable ice” (methane hydrate) will within 10 years be mined from the sea floor in large quantities. The resulting gas reserves can be used for a variety of things, including cars. The result of all this will probably be low energy prices for the foreseeable future. In normal times, that would be a huge positive for the economy. (These aren’t normal times…)

    This will alienate some folks, but cryptocurrencies are more dangerous than most people realize. They are imaginary things, represented by numbers in a computerized ledger. They can evaporate as fast as they have appeared. And they require electricity to be used. Metals and barterable items are still the best way to prepare for a crisis. I suggest considering all cryptocurrencies as extreme speculations. Don’t bet the farm — literally or figuratively in a state of greed.

  2. One more thought. If there’s a bubble in financial markets, it’s in bonds, not stocks. Argentina just issued 100 year bonds. This is Argentina, which has defaulted 4 times in the last 100 years, most recently in 2014. With an 8% yield, people lined up to buy these things. Yes, 8%, but the chance of getting your principal back is low to nonexistent. And, if interest rates start to rise, the market value of these bonds will plunge. Credit markets are crazy, folks — it makes the stock market look sane and conservative. If there’s a financial crisis, it will probably start somewhere in the credit market, and then spread to stocks and everything else.

  3. I remember reading a story by Matt Bracken about not buying bonds, with emphasis on the word “BONDS”. (can’t find it right now). Government municipal BONDS at any level (local, county, state, FedGov) are a BONDAGE on the people, and are repaid by raising taxes and other fees imposed from above by the issuing government. And usually give little in return.

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