Our beef with our own generation is not that it failed, but that it succeeded too well.
It took control of government and used it like an ape uses a rock – to crack open a nut.
But we’ll come back to that in a minute…
The Dow Takes a Dive
First, the Dow dropped 190 points yesterday – or 1%. It is threatening to close below 18,000 for the first time in almost three weeks. We’ll wait to find out.
Yesterday, a London-based magazine and a TV station interviewed us. Both asked if we were “pessimistic.”
“Of course not,” we replied. “We expect today’s financial system to fall apart in a terrible crash and depression. But we’re looking forward to it.”
This was not exactly the answer they were looking for… And there’s not enough time in an interview to explain why this view makes any sense at all. The audience must have thought we had lost our mind.
We also had a meeting with our old friend and editor of the Gloom, Boom & Doom Report Marc Faber yesterday. He helped make sense of our “pessimism.”
“The system is corrupt,” he said. “The government. The banks. The central banks. Big business.”