Ghost of Igloi wrote:
“Pay attention to what really is controlling, to what really matters. THAT is what is fundamental.“
That is easy, $Trillions. Of course that is fundamental since it just delays the inevitable, and encourages investors to believe there is no payback. Problem is the money will do nothing to stop the myriad of future bankruptcies, slower economic growth, longer period of high unemployment, social unrest, and higher taxes.
It’s not just monetary policy, but a kaleidoscope of policies. For every mom-and-pop bankruptcy, Amazon rises. Even so-called economic growth is measured differently now, to include government activity, among other things. The unemployed are at the margin, and come under the direct purview of the new policy set.
It is an integrated whole. Classical economics and business do not sit independently outside this whole. I get it, one must work to add value, which added value one can trade for the value that has been added by another through their work. Without that basic, the system dies.
What you are missing is that that old system is already largely dead. Of course the new one is unsustainable, but society will give it a shot for a while. How long? I would venture to guess for the remainder of your natural life. And maybe mine, too.
Posterity may award you, but you won’t be around to enjoy your victory. Neither will your descendants, because they will either accept the new conditions or be in the gutter, with no position from which to realize advantage if and when the opportunity arises. This is not the result of their individual nature, it is the result of the interaction of that nature with the nature of the new system. It does not tolerate opposition, dissent, or even difference.
The vast majority of us are products of our time—unfortunately your time ended some years ago.
Sorry Igy, that’s just how I see it.
I take a less drastic perspective—I still believe that the USD will continue to lose value over the next 10 years, for which I plan to be around. After that, if there is a currency reset, I will adapt accordingly. Nothing is sacrosanct. We are neither employees who rely on actual business for a wage, nor do we get paid to pontificate—we are here to gain, using tradeable instruments in a trading space. “Investing” is only trading on some arbitrarily long scale.