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Paul Murray's avatar

Recession is no longer a big deal. With 50% or more of the country on some form of government dole, the state of the actual economy becomes irrelevant. The government "checks", aka transfer payments, now some 30% of GDP, will always be there. People ratchet back to subsistence living, forsaking the idea of discretionary spending that nominally drives the "economy". Half the country is living in permanent recession and likes it, because there is no risk. Klaus Schwab is waiting in the wings. Best always. PM

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Gordon's avatar

The trouble is that that lazy river can just keep rolling on longer than we expect, or even believe possible. Thirty years ago I never thought it could get this far, yet here we are. It could collapse next week, or next year, or in several years, but until then we are better off riding the wave. At some point, confidence will collapse and it will all come apart, but I have given up trying to guess when. I stay in the stock market to ride the wave, and I have my gold and silver (not as much as I would like, but...) to help cover necessities when things change.

I think it was Lenin who said, "There are decades when nothing happens, and there are weeks when decades happen." One of those weeks is lurking out there, and possible several of them.

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