To quote Bob Rodriguez, as we did during Thursday’s market wrap:
With the initiation of the Fed’s complete takeover and control of the US financial economy, there is now absolutely no accurate pricing discovery in the capital markets and we have entered a period of total manipulation. In light of this, the only markets I have an interest in are those where the heavy hand of government is not involved or only minimally involved. This leads me to rare commodities and collectibles. The public equity and debt markets are now nothing more than greater fool markets that are led by the greatest fools of all, the Fed and the Congress. US capital markets, RIP!
When all market risk is essentially socialized, a return vs risk evaluation is essentially meaningless.
Over a period of time which I cannot estimate yet, I will continue my preparation for a far different economic and financial environment.
Capital deployment strategies will likely have to change from what has been the norm in the post WW2 environment. We are in a New World Order.
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Simply put, the global business environment is being transformed: Like AOC and George W Bush, we are all socialists now.
QUOTED FROM HERE: