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Faith can overcome evidence but not forever.
Two trends will be with us for the next 20 years:
Inexorable Trend #1: Peak Cheap Credit
Inexorable Trend #2: Peak Cheap Oil
Within these two long term trends, the latest diversions
• Late gold investors on board since 2008 exit market as the USD again becomes GAGFO as Europe, Japan, and China falter
• Credit Bubble temporarily reflated
• Stock market temporarily levitated
• U.S. oil import trade deficit and dollar crisis temporarily averted
• Housing market temporarily… you get the idea
Six months. That’s how long we’ve wrestled this greased pig, this drunken monkey, this long, stinky cat running for its life barely inches ahead of a pack of rabid coyotes.
These markets. This economy.
Sheesh.
The problem is not in understanding human nature. That never changes.
We want. We hope. We kid ourselves.
We fuss about the house. Fix the broken gutter, the rotted trim, the chipped paint, the cracked concrete step. But our hair is on fire.
We don’t notice. No one told us and there are no mirrors on Planet ZIRP.
No, we understand human nature. Humans want and what we want more than anything is to be told what to believe.
A story that makes sense of the world, that puts it all together in logical order with a happy ending.
The good and hard working, the brave, the smart, and the righteous, will prevail.
“We” deserve to win, don’t we?
Except those are not the rules on Planet ZIRP.
I get this all the time. The questions.
What’s with the stock market? Bonds? Housing? Gold?
My answer: Do you really want to know? (read more...)
iTulip Select: The Investment Thesis for the Next Cycle™
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