When you speak what you believe to be the truth, it matters not if anyone disagrees, or if doubters abound. You speak what you believe to be the truth and if you are wrong, so be it. Agreement and acceptance are not required. You merely observe the world around you, report your findings, and be done with it.
When you say 2+2=4, you don't need someone else to verify your observation. You are merely reporting the facts as you see them, and though misperception abounds among us humans, we keep trying to percieve accurately because that is in our nature.
In a previous post, I said Peter Schiff was right, and he was.
http://www.kelowna.com/2009/09/18/u-s-economic-recovery-cant-work-peter-schiff/
So, as Peter says "Don't believe the propaganda!"
I am telling you - the Dow could run to 11,000 on pure irrationality and market manipulation.
If you want to, or you believe the propaganda, get in now! Or, better yet, try to be a trader if you aren't one. (obvious sarcasm)
If you don't, listen to Peter, he has been right all along. His logic is sound, and the market will correct.
The emperor has no clothes.
Right now deflation is the biggest threat to our economy. However, if the government keeps adding debt at the pace they are, hyperinflation will be. Actually, we will be facing hyperstagflation. (Inflation of the money supply with falling asset prices-most notably stocks and bonds and consumer goods-combined with dollar devaluation.)
The only way out is if consumers, small businesses and corporations massively deleverage and we start from scratch with a freer economy. This will require anemic GDP growth for some time.
From this new place of economic health (perhaps 15 years from now), we can move forward at a sustainable place and take to heart the lessons we learned by believing that GDP growth alone is the measure of societal abundance.
One can only hope.
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