Quoting Founding Father John Adams in his preamble proclaiming all governments, including Democratic ones, are doomed to fail because of mankind's innate capacity for avarice and advantage was not how I wanted to begin my day.
His gloomy, eloquent albeit dispiriting remarks reminded me of Pogo who, perched under a tree years ago, said: "We have met the enemy and he is us."
I'm just a retired doctor with no financial expertise, but I know beautiful writing when I see it. I have been following your advice the past two years with a third of my portfolio while the rest is managed by professionals whom you probably know (one of whom is my brother-in-law). You can't imagine the fun I have gloating at family meetings comparing the earnings you created for me with the losses the professionals are rackng up!
As evidenced by the quote from John Adams, the genius of the Founding Fathers was, more than occasionally, simply amazing. Has there ever, including those from classical Greece, been a more astute grouping of political thinkers? And we've fallen exactly in the way that they predicted that we might fall.
"...While pasteurization, vaccinations, and standardizations were undertaken..." Great line! As people become wary of vaccinations and the financial incentives behind them, I don't think they, by & large, realize the harmful effects mass pasteurization has on our health. Pasteurized food fails to stimulate the immune system, is lacking in flavor and as food foes through the process, it looses useful, assimilatable nutrients. In the Northeast, I get the impression you can no longer even buy a container of apple cider without pasteurization. All to extend shelf life and increase profits. Did a bed & breakfast in the Finger Lakes region of NY once on a farm and was served raw (inspected) milk-was a diff! Treat yourselves sometime to a raw milk cheese such as cheddar. It'll cost more and will have a shorter shelf life, but what a favor! They're available in some of the more high end, health conscious stores. Not saying the process in itself is harmful, but when done on a mass scale, over time, a processed, pasteurized diet takes a toll on the body.
Do you know, Jacques, I thought the same thing. When these guys make the occasional mistake, I could not care less. I am here for the informative and elegant writing. But Yep, you are right!
Many good points with one exception....could it be that the John Adam's quote lambasting democracy was a reflection of the fact that our Founding Fathers actually abhorred democracy and therefore gave us a Constitutional Republic? I think so. That being said, if our Constitution is being constantly ignored (mostly by the Democrats, but by some of the Republicans also - actually, probably only a minority of the Republicans are mainly Constitutionalists and none of the Democrats), then the Constitution becomes irrelevant (unfortunately). It is not realistic that our Founders would come up with a perfect airtight document - and possibly no document is airtight to corruption and mischief. Keeping the idea of individual rights alive as well as the separation of powers in the government, can only be achieved by men of intelligence and character who firmly believe in these principles. Hence, we have slid down the slippery slope to a "democracy" (aka mob rule or at least rule by those in power) where individual rights are being constantly ignored and all the things that Bill mentions in his column come to fruition.
Re: Doom 2.0 Is there any thought to modifying the portfolio to avoid a major sell-off which is likely to impact Energy stocks and Precious Metals (miners?) as well, at least in the first part of any dramatic slide? Looking forward to seeing the research itself.
‘The true test of a man is what he does when no-one is looking’ . With the emasculation of a once proud and fiercely free press, with a judiciary that has not been independent for a long time and not been above politics for even longer and the masses placated by bread and circuses we can see that no-one’s been looking for a while and alas the mark of the folk in charge is let’s just say a little off the level of the founding fathers
Ah the foxes. All so gloriously versed in the politics of government. They all seem to have found their little niches. They sure know how to play their game, while it lasts. They even get trained by the WEF, just to make sure they know the overall script, until surprisingly and embarrassingly that fails. Until their central planning efforts make a failure so large that even the sheep can see the folly. But when you control the media and all the central banks it can go on for a very long time, as we currently see. They have professors to verify their "economic logic". They have the Nobel Prize to verify their professors. However when they lose confidence of the populace possibly by starving the populace or providing insufficient energy, things can change quickly for the foxes. Cold hungry mobs are hard to control. The problem the foxes face is they are making mistakes with their every move, fundamental mistakes. Mistakes like the Chinese EV cars that don't sell or the excess Chinese bikes or the empty Chinese cities. Mistakes like global warming producing less efficient energy production companies or insufficient fuel for tractors. The mistakes the foxes can't see because they believe in their "solutions", doctrines and narratives. Or maybe they believe in their WEF training. They think they have covered up the failures with more"investment" or media mantra but the mistakes are still working after hours to expose their incorrect "economic logic" or the collusion of the various foxes e.g. covid vaccinations. My interpretation is the foxes rely upon their "vastly superior" central planning. They can't escape central planning because that's what they do but it is working against them, full time.
Atlas shrugged - withdrew, bolt-holed with like-minded brilliant people in simple win-win lifestyle, invested in hard assets, simplified, and happified.
I turned off the news going on 45 years ago. My considered opinion: that withdrawal was one of the 3 best decisions of my life.
Bill curdled my coffee this morning.
Quoting Founding Father John Adams in his preamble proclaiming all governments, including Democratic ones, are doomed to fail because of mankind's innate capacity for avarice and advantage was not how I wanted to begin my day.
His gloomy, eloquent albeit dispiriting remarks reminded me of Pogo who, perched under a tree years ago, said: "We have met the enemy and he is us."
BPR’s appears to be “right on” with the counties around DC.
Those counties have the highest concentration of wealth in the entire USA. And probably the world.
A reasonable man or woman would assume that Silicon Valley would have that distinction.
Last time I looked DC does NOT have any Industry.
Since when has the National Government EARNED (ahem) more than its citizenry.
DC IS CORRUPT TO THE CORE!
You can vote, Mr. & Mrs. Whatever.
Stop giving them campaign contributions.
AND for heavens sakes STOP FOR VOTING FOR THE BUMS IN DC!
Gosh I so enjoy reading your email/newsletter. On point as usual.
I'm just a retired doctor with no financial expertise, but I know beautiful writing when I see it. I have been following your advice the past two years with a third of my portfolio while the rest is managed by professionals whom you probably know (one of whom is my brother-in-law). You can't imagine the fun I have gloating at family meetings comparing the earnings you created for me with the losses the professionals are rackng up!
Maybe the point of the wars, and all the rest, is not to win, but to weaken the US, and remake it into more of a feudal society?
As evidenced by the quote from John Adams, the genius of the Founding Fathers was, more than occasionally, simply amazing. Has there ever, including those from classical Greece, been a more astute grouping of political thinkers? And we've fallen exactly in the way that they predicted that we might fall.
Very moving Bill! Great piece
"...While pasteurization, vaccinations, and standardizations were undertaken..." Great line! As people become wary of vaccinations and the financial incentives behind them, I don't think they, by & large, realize the harmful effects mass pasteurization has on our health. Pasteurized food fails to stimulate the immune system, is lacking in flavor and as food foes through the process, it looses useful, assimilatable nutrients. In the Northeast, I get the impression you can no longer even buy a container of apple cider without pasteurization. All to extend shelf life and increase profits. Did a bed & breakfast in the Finger Lakes region of NY once on a farm and was served raw (inspected) milk-was a diff! Treat yourselves sometime to a raw milk cheese such as cheddar. It'll cost more and will have a shorter shelf life, but what a favor! They're available in some of the more high end, health conscious stores. Not saying the process in itself is harmful, but when done on a mass scale, over time, a processed, pasteurized diet takes a toll on the body.
Was just about to write a message regarding your opening John Adams quote... But...JR has already covered it beautifully.
And Joel’s knitting of Your and Tom’s “homework” was elegant and eloquent.
A Powerglide is a transmission that has nothing to do with steering.
I caught that also. , Thx Jacques
Part of life before Teslas,
Do you know, Jacques, I thought the same thing. When these guys make the occasional mistake, I could not care less. I am here for the informative and elegant writing. But Yep, you are right!
Most don’t realize it yet. BUT normal ain’t coming back.
Jesus IS…
Many good points with one exception....could it be that the John Adam's quote lambasting democracy was a reflection of the fact that our Founding Fathers actually abhorred democracy and therefore gave us a Constitutional Republic? I think so. That being said, if our Constitution is being constantly ignored (mostly by the Democrats, but by some of the Republicans also - actually, probably only a minority of the Republicans are mainly Constitutionalists and none of the Democrats), then the Constitution becomes irrelevant (unfortunately). It is not realistic that our Founders would come up with a perfect airtight document - and possibly no document is airtight to corruption and mischief. Keeping the idea of individual rights alive as well as the separation of powers in the government, can only be achieved by men of intelligence and character who firmly believe in these principles. Hence, we have slid down the slippery slope to a "democracy" (aka mob rule or at least rule by those in power) where individual rights are being constantly ignored and all the things that Bill mentions in his column come to fruition.
Re: Doom 2.0 Is there any thought to modifying the portfolio to avoid a major sell-off which is likely to impact Energy stocks and Precious Metals (miners?) as well, at least in the first part of any dramatic slide? Looking forward to seeing the research itself.
‘The true test of a man is what he does when no-one is looking’ . With the emasculation of a once proud and fiercely free press, with a judiciary that has not been independent for a long time and not been above politics for even longer and the masses placated by bread and circuses we can see that no-one’s been looking for a while and alas the mark of the folk in charge is let’s just say a little off the level of the founding fathers
Ah the foxes. All so gloriously versed in the politics of government. They all seem to have found their little niches. They sure know how to play their game, while it lasts. They even get trained by the WEF, just to make sure they know the overall script, until surprisingly and embarrassingly that fails. Until their central planning efforts make a failure so large that even the sheep can see the folly. But when you control the media and all the central banks it can go on for a very long time, as we currently see. They have professors to verify their "economic logic". They have the Nobel Prize to verify their professors. However when they lose confidence of the populace possibly by starving the populace or providing insufficient energy, things can change quickly for the foxes. Cold hungry mobs are hard to control. The problem the foxes face is they are making mistakes with their every move, fundamental mistakes. Mistakes like the Chinese EV cars that don't sell or the excess Chinese bikes or the empty Chinese cities. Mistakes like global warming producing less efficient energy production companies or insufficient fuel for tractors. The mistakes the foxes can't see because they believe in their "solutions", doctrines and narratives. Or maybe they believe in their WEF training. They think they have covered up the failures with more"investment" or media mantra but the mistakes are still working after hours to expose their incorrect "economic logic" or the collusion of the various foxes e.g. covid vaccinations. My interpretation is the foxes rely upon their "vastly superior" central planning. They can't escape central planning because that's what they do but it is working against them, full time.
We are down but not out. I am a 65 year old male born & raised in America.
We have had serious governance issues for my entire adult life. One crisis after another. This or that. Always something to bitch about!
BUT WE ARE STILL STANDING!
Barely, but there is hope!
Atlas shrugged - withdrew, bolt-holed with like-minded brilliant people in simple win-win lifestyle, invested in hard assets, simplified, and happified.
I turned off the news going on 45 years ago. My considered opinion: that withdrawal was one of the 3 best decisions of my life.