Originally Posted by
Daly
I’ve read some of his books and one night I actually went to one of his lectures where I was able to shake his hand and ask him a few questions. Definitely a smart guy who understands classic Chicago school economics. A libitarian by libitarian standards and for an economist one hell of a funny guy. I’m a fan if anyone who isn’t a hypocrite and he is far from that and I honestly believe he believes everything that he says.
I’ll give Peter credit for one thing above all else. Eventually he will be right.
The problem is the entire world is working against him every day. And I’m not talking about Mumbles, Tine, Tgull and Daly from PFA - I’m talking about all the heads of stare from across the entire world and the deep state within. The Illuminati and all of the 1%. Literally the entire world wants to keep the current system in place for as long as posible. USA, China, The Middle East all of Europe - everyone that “matters”. The whole world is working together to prevent the collapse he is talking about..... eventually he will be right but world wide markets representing the most powerful people in the world are working against collapse.
If you want to dumb it down into a results driven excercise you could have invested in Gold in 2008/9 in the teens and rode it up to 1900 before it eventual fell off. Right now it’s ~1700 and you would have spent the last 13 years up but close to even. During that timeframe you could have bought a house that doubled. BTC - special case for sure but up by a factor of 1000. Stonks went from 670 to 3400 on the S&P. You could
Sell it all right now at depressed prices to 4 months ago and still be light years ahead of “his book”.
Smart guy - worth the listen. Just don’t sell it all and go live in a bunker.
I don’t have your financial acumen, but your post feels particularly insightful. He’s always fundamentally right. I’m just not sure any of us live long enough to see the point in time where he’s right in the big picture sense. Like he nailed the housing bubble but expected gold to crack $2000 by the end of 2009. I don’t believe it’s ever gotten quite there. He’s right on all the concepts about the fake dollar and is printing it, but he’s been kind of wrong on most of his calls about it cratering a decade ago. Like you say, when everyone is working against allowing the fundamentals to play out, they can play a shell game almost forever.
I mean Madoff lasted over 40 years doing shit that half the street knew couldn’t be possible. If not for housing crash, he still would.
I’m waiting for similar ponzis to start surfacing if it gets worse this year and people start snatching cash. He kept it afloat a few months until it was unsustainable.
If one dude can keep a scam going that long, how long can basically the entire world keep one going?