“Only thing we have to fear is fear itself” FDR 1933
As I write this the Dow futures are down 1,200 points. Oil is down over 20 percent. Gold is way up—no wait, it’s going sideways and silver back down under $17. So much for safe havens. Precious metals are also considered commodities and are now treated as such. Everything is getting punished and many bubbles will get popped.
As Ayn Rand once said, “We can ignore reality, but we cannot ignore the consequences of ignoring reality.
We should have faced those consequences long ago. Hold on—we’re in for a rough ride that will be difficult to ignore.
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