Yes folks, welcome to your future, where "you'll own nothing and be happy"(WEF) As we see the prices of most assets starting their ascent to the out of reach level for most people. This is their 2030 agenda goal, and it’s happening at a frantic pace. So shut up, obey, rent and be happy 😃 Now back to the American Nightmare, where health cost are bankrupting hard working citizens while illegals get it for free 🤔 where we wait months and months for our tax refund while paying billions for tens of thousands of new IRS agent's to withhold our money 🤔 Where our children are protesting for an ideology that wants them dead 🤔 Where mental illness is considered healthy behavior 🤔 Where the most mentally disturbed and ignorant of society control your education, medical, entertainment and government 🤔 yes folks welcome to your present, welcome to the New World Order of America 😊
Good judgment comes from experience; experience comes from bad judgment.
My takeaway, too few consequences. Many have been taught their lesson(s) and have not learned from them …so, so many excuses for bad behavior and bad judgment… though that is drowned out by the long, loud, bawling of miscreants spewing, “I didn’t know better, was, drunk, was drug addicted, suffering from woke [?] statism.
Well, this in from San Diego WTH file https://tinyurl.com/msawdxfv “Cracking Down on Groups Exercising Outside Without a Permit”
There is little difference between opportunity and obstacle. Maybe. Maybe not. We’ll see.
U.S. Constitution, First Amendment: Congress shall make no law respecting…prohibiting the free exercise… NO YOGA downward facing dogging allowed! Really.
Of course not brother! The only reason the fraud in chief is emptying our reserves is to make sure we have an excuse not to intervene with China’s takeover of Taiwan…”sorry folks, we’re out of gas”🤔
...and to keep gas prices from skyrocketing, so the voters who don't dig into facts will still cast their vote for "Old Yeller". Just infuriating!!! And Jennifer Granholm...don't get me started...
Get you started Bob? I know, you only hit on two of the mentally unstable subjects out of the hundreds we live through daily. In the mind of madness, every filthy perverse subject is goodness. Every evil is pure, everything good is bad. The rule of man over the laws of God. Yes Bob, mental illness has no boundaries in America. Lawlessness, violence and corruption are considered a virtue on the left, as we see in their states, cities, towns and homes, thoughts and actions. We can’t fix stupid, and definitely shouldn’t allow the mentally unstable to dictate and control our lives 🤔
From 1970 to 1972, Biden served on the New Castle County Council. He was elected to represent Delaware in the U.S. Senate at the age of 29…and non-stop to POTUS.
Good judgment comes from experience; experience comes from bad judgment?
WTH #46? Just another gimmick to lure in the vote at taxpayer expense.
You don’t honestly believe Biden is even in this next fake election? The fix is already in brother! Which ever demented person the leftist choose to replace Biden is the guaranteed next president of this banana republic. No chance for an American comeback due to the unprecedented corruption in the Justice Department, CIA, FBI and the entire democratic cult. I know you know it’s over, but it’s still fun to complain about it…as we’ve done our entire lives. Never thought the destruction would happen so quickly, but too late to worry about it now…so get out, cast a few into your favorite hole, and enjoy the time we have left 🎣🎣🙏
As Stalin might have said, “…it is easier to change a man’s beliefs than his faith…”
Well Amigo, as soon as the deluge of snowmelt subsides a little more, I have faith and believe a dinner date with some 🌈 rainbow trout will come to pass.
You need to come out east here to NC, like most of the world seems to be doing. Still some incredible spots up in these hills where I get to smoke my trout year round and fry some brookies this time of year 😋
GF: It's actually a little surprising that you have seemed to become a liberal Republican. Obviously, You are not following the various trials with Donald who said he would testify and then changed his mind. No surprise there! He wants to debate Biden and is saying nasty things about him. Biden is anxious to debate him but just wait, Trump will probably make an excuse not to when the time is near just like he did with testifying. Why don't you find someone smarter since Trump is not a good candidate or an ethical person?
You note that in 1914 a Model T cost $700. In 1940, my father bought a '41 Plymouth Mayflower for $500, an arguably nicer car for a considerably lower price...
On another note: Mr. Ford's Model T came with a tool kit that contained all the tools necessary for the owner to maintain his vehicle. When I was a younger man I removed the engine from my '67 VW, did a major overhaul of the engine and reinstalled it, in my back yard using hand tools. Try doing that on one of todays cars...
Frank. You reminded me of a 61 bug my brother and I had as a first car. Top speed on a flat stretch of highway was 50 mph. Downhill it would do 60 mph at risk of throwing a valve seat. We dropped the engine twice with simple hand tools and a floor jack. Life seemed more simple!
Kam, I could pull my VW into my driveway, turn off the ignition, and have the engine out of the car in twenty minutes, working alone. I used a pair of scissors jacks. Life WAS simpler...
¡Viva los taxis Volkswagen amarillos de la Ciudad de México!
Was it better being 20ish in the 70’s than being 70ish in the 20’s?
Maybe. A whole lot of yellow VW taxis to hop in and go around. And the dollar peso exchange rate was fixed. A big bonus…take home cute little dos peso gold coins as keepsakes.
I got T-boned (driver side) in my 2018 Malibu and came out of it without a scratch on my body (except my psyche). If I got T-boned in your 60’s VW, my ghost would be posting this right now, so some things are better.
You are correct that cars today are safer than they were in the sixties. They are also more reliable, more comfortable and have infinitely better sound systems (if you can figure out how they work)...
They are also fast becoming too expensive to buy or maintain. I've downsized from three vehicles to one and dread the thought of having to replace the 2014 Tacoma I'm currently driving...
I'm glad to hear that you came through your accident without injury. What was it like, cost wise, replacing your Mailibu?
Bill as hard as it is to see through the fog of debt based money which is why the stock market is at all time highs, but still lower measured in Dow / gold. I believe your team is doing very well.
Tom it is my belief that you are anticipating this change in environment from high confidence in government to low confidence extremely well. When all the governments in the world are essentially bankrupt or said another way, when virtually every government in the world is bankrupt by "old fashioned standards" (those that have been successful in the long run), then the most difficult strategy of relying on "old fashioned standards" of bankruptcy (those which have persisted with drastically better odds) based upon history. See "It's Different This Time" by Reinhard and Rogoff. On the other hand it is so difficult to see through the fog of free money. It is so hard to resist the FOMO especially when the silicon valley dudes are presenting AI but the silicon valley dudes didn't understand that rising rates meant falling bond prices BUT they did understand that they would be bailed out after they lost billions. However now we are talking trillions ($14T dollars) in refinancing in the next year in the dollar bond market. Adding 3 more zeros to the end of those credit numbers might make a difference to millions (six zeros) more people who make hundreds of thousands (5 more zeros) less than the silicon valley free money boys spouting AI. Given the ratios I'm tossing out here we can only bail out these big money boys so much longer.
Couple of things that sort of challenge me. We talk about people focus 100 years back, about buying their house & first motor and it took a big chunk of what they earned as a wage.
Now days our kids have a bigger problem trying to do this today and have less left over.
1) Have we forgotten that the modern motor or truck is a bit different to a T model Ford, that came off the production line, in a shiny ‘Any colour, as long as it’s black’.
2) My grand folks home was sure different to what their great grandkids ‘require’ as their ‘entry point’ first abode.
Which brings me to the next question, So as a multi billion or even a grossly underrated several millions’aire, when it gets a bit ugly in say 10 years time what then? What and who is going to want to buy their extra 2 or 3 residential palaces & mansions and their fleets of 4,5 or 10 autos? Whats their market vs book value, just like commercial buildings now?
Always amuses me looking at thousands of McMansions of Versailles look-like, with 2 or 4 people living there with 6-15 bedrooms, bathrooms, 99% never used.
Armadas of watercraft in marinas, private aircraft and the toys of the ubers.
Fire sale values aren’t pretty.
We homo sapiens are so often crazy delusional animals, when we believe we have so many bank notes or credit facilities to lean upon and dream it will last forever..
Romans thought the same as did other civil homo sapiens.
‘Oh when the saints, come marching in… ‘ or when the they march through, will the good oil scrip, 5% govt.bonds & gold bars really be the sustaining answer?
If you look at the Fed balance sheet we still have about two trillion dollars floating around the economy. The Fed is only slowly cutting it down. This money is working its way through the economy causing inflation. The Wall Street crowd have collected theirs, the middle class is losing out to inflation. If the two trillion comes out a lot of real estate loans will not be able to be renewed as rates will climb.
Bill, You are comparing how many hours of work to buy something 110 years ago. So, how much did a cell phone, pacemaker, cancer vaccine, computer, tv, air conditioning etc. cost 110 years ago. You don't account for quality or quality of life. We do not account for the well being of people. GNP is not everything
Uh, what well-being? Happiness is hard to quantify, as is frustration. Still, despite more things that attempt to make us more comfortable, there seem to be a lot of unhappy people. But what do I know other than I try to apply this idea from Epictetus: “To make the best of what is in our power, and take the rest as it occurs.” And yet I’m feeling rather bruised by some of the things I’m taking. 😎
The greatly expanded life expectancy comes to mind in terms of well-being.. I'm sure there was caveman with a great outlook.Many more that were unhappy. That's on them.. Shake your bruises off.
Its not difficult to imagine the abundance of capital 110 years ago save for taxes. Pulling down the future is not a very smart receipe wait till the automobile needs repair in absence of credit. And not all quality is necessarily seen in the same manner when viewed from a prognosis or economic stand point. Advancements and innovations are great, dont get me wrong, its the application, motivation that has me twisted up in knots.
And its not free markets we see today best of luck.
Tom, you talk about how great all your recommendations are doing. But frankly, after losing my ass three times on recommendations of yours, I stopped following.
So, overbought, overvalued, Dow/gold, blah blah blah…the fact is, some of these high-flyers have solid earnings. I’m sitting on your “max safety” watching the rising stock and index ship sail away while I’m bobbing in a dinghy in its wake.
It cost me 800 Deutsch Mark (1992) for my driving license. 12 DM average students salary made it possible to have it financed in 70 hours of work.
Our kids have to pay in average 3.000 Euros for a license which allows you to drive only have of the things I have on my plate. 15€ average student salary ( if the take you under the age of 18) end up in 200 hours of work.
Yes folks, welcome to your future, where "you'll own nothing and be happy"(WEF) As we see the prices of most assets starting their ascent to the out of reach level for most people. This is their 2030 agenda goal, and it’s happening at a frantic pace. So shut up, obey, rent and be happy 😃 Now back to the American Nightmare, where health cost are bankrupting hard working citizens while illegals get it for free 🤔 where we wait months and months for our tax refund while paying billions for tens of thousands of new IRS agent's to withhold our money 🤔 Where our children are protesting for an ideology that wants them dead 🤔 Where mental illness is considered healthy behavior 🤔 Where the most mentally disturbed and ignorant of society control your education, medical, entertainment and government 🤔 yes folks welcome to your present, welcome to the New World Order of America 😊
🤔 That makes two of us 🤔
Good judgment comes from experience; experience comes from bad judgment.
My takeaway, too few consequences. Many have been taught their lesson(s) and have not learned from them …so, so many excuses for bad behavior and bad judgment… though that is drowned out by the long, loud, bawling of miscreants spewing, “I didn’t know better, was, drunk, was drug addicted, suffering from woke [?] statism.
Well, this in from San Diego WTH file https://tinyurl.com/msawdxfv “Cracking Down on Groups Exercising Outside Without a Permit”
There is little difference between opportunity and obstacle. Maybe. Maybe not. We’ll see.
U.S. Constitution, First Amendment: Congress shall make no law respecting…prohibiting the free exercise… NO YOGA downward facing dogging allowed! Really.
…own nothing and…
But, until then there’s this hot off the ⛏️ pickaxe substack - https://tinyurl.com/4wbxmdvs
Spoiler Alert: Biden admin to release 1 million barrels gasoline from reserves in the Northeast
Takeaway: Will this help the teamsters pushing diesel big rigs delivering food & sustenance?
Of course not brother! The only reason the fraud in chief is emptying our reserves is to make sure we have an excuse not to intervene with China’s takeover of Taiwan…”sorry folks, we’re out of gas”🤔
...and to keep gas prices from skyrocketing, so the voters who don't dig into facts will still cast their vote for "Old Yeller". Just infuriating!!! And Jennifer Granholm...don't get me started...
Get you started Bob? I know, you only hit on two of the mentally unstable subjects out of the hundreds we live through daily. In the mind of madness, every filthy perverse subject is goodness. Every evil is pure, everything good is bad. The rule of man over the laws of God. Yes Bob, mental illness has no boundaries in America. Lawlessness, violence and corruption are considered a virtue on the left, as we see in their states, cities, towns and homes, thoughts and actions. We can’t fix stupid, and definitely shouldn’t allow the mentally unstable to dictate and control our lives 🤔
From 1970 to 1972, Biden served on the New Castle County Council. He was elected to represent Delaware in the U.S. Senate at the age of 29…and non-stop to POTUS.
Good judgment comes from experience; experience comes from bad judgment?
WTH #46? Just another gimmick to lure in the vote at taxpayer expense.
You don’t honestly believe Biden is even in this next fake election? The fix is already in brother! Which ever demented person the leftist choose to replace Biden is the guaranteed next president of this banana republic. No chance for an American comeback due to the unprecedented corruption in the Justice Department, CIA, FBI and the entire democratic cult. I know you know it’s over, but it’s still fun to complain about it…as we’ve done our entire lives. Never thought the destruction would happen so quickly, but too late to worry about it now…so get out, cast a few into your favorite hole, and enjoy the time we have left 🎣🎣🙏
…honestly believe Biden is even… 😏
As Stalin might have said, “…it is easier to change a man’s beliefs than his faith…”
Well Amigo, as soon as the deluge of snowmelt subsides a little more, I have faith and believe a dinner date with some 🌈 rainbow trout will come to pass.
You need to come out east here to NC, like most of the world seems to be doing. Still some incredible spots up in these hills where I get to smoke my trout year round and fry some brookies this time of year 😋
GF: It's actually a little surprising that you have seemed to become a liberal Republican. Obviously, You are not following the various trials with Donald who said he would testify and then changed his mind. No surprise there! He wants to debate Biden and is saying nasty things about him. Biden is anxious to debate him but just wait, Trump will probably make an excuse not to when the time is near just like he did with testifying. Why don't you find someone smarter since Trump is not a good candidate or an ethical person?
You note that in 1914 a Model T cost $700. In 1940, my father bought a '41 Plymouth Mayflower for $500, an arguably nicer car for a considerably lower price...
On another note: Mr. Ford's Model T came with a tool kit that contained all the tools necessary for the owner to maintain his vehicle. When I was a younger man I removed the engine from my '67 VW, did a major overhaul of the engine and reinstalled it, in my back yard using hand tools. Try doing that on one of todays cars...
Frank. You reminded me of a 61 bug my brother and I had as a first car. Top speed on a flat stretch of highway was 50 mph. Downhill it would do 60 mph at risk of throwing a valve seat. We dropped the engine twice with simple hand tools and a floor jack. Life seemed more simple!
Kam, I could pull my VW into my driveway, turn off the ignition, and have the engine out of the car in twenty minutes, working alone. I used a pair of scissors jacks. Life WAS simpler...
¡Viva los taxis Volkswagen amarillos de la Ciudad de México!
Was it better being 20ish in the 70’s than being 70ish in the 20’s?
Maybe. A whole lot of yellow VW taxis to hop in and go around. And the dollar peso exchange rate was fixed. A big bonus…take home cute little dos peso gold coins as keepsakes.
Being in your twenties in the 1970s was definitely better than being in your seventies in the 2020s...
I got T-boned (driver side) in my 2018 Malibu and came out of it without a scratch on my body (except my psyche). If I got T-boned in your 60’s VW, my ghost would be posting this right now, so some things are better.
You are correct that cars today are safer than they were in the sixties. They are also more reliable, more comfortable and have infinitely better sound systems (if you can figure out how they work)...
They are also fast becoming too expensive to buy or maintain. I've downsized from three vehicles to one and dread the thought of having to replace the 2014 Tacoma I'm currently driving...
I'm glad to hear that you came through your accident without injury. What was it like, cost wise, replacing your Mailibu?
Bill as hard as it is to see through the fog of debt based money which is why the stock market is at all time highs, but still lower measured in Dow / gold. I believe your team is doing very well.
Tom it is my belief that you are anticipating this change in environment from high confidence in government to low confidence extremely well. When all the governments in the world are essentially bankrupt or said another way, when virtually every government in the world is bankrupt by "old fashioned standards" (those that have been successful in the long run), then the most difficult strategy of relying on "old fashioned standards" of bankruptcy (those which have persisted with drastically better odds) based upon history. See "It's Different This Time" by Reinhard and Rogoff. On the other hand it is so difficult to see through the fog of free money. It is so hard to resist the FOMO especially when the silicon valley dudes are presenting AI but the silicon valley dudes didn't understand that rising rates meant falling bond prices BUT they did understand that they would be bailed out after they lost billions. However now we are talking trillions ($14T dollars) in refinancing in the next year in the dollar bond market. Adding 3 more zeros to the end of those credit numbers might make a difference to millions (six zeros) more people who make hundreds of thousands (5 more zeros) less than the silicon valley free money boys spouting AI. Given the ratios I'm tossing out here we can only bail out these big money boys so much longer.
Couple of things that sort of challenge me. We talk about people focus 100 years back, about buying their house & first motor and it took a big chunk of what they earned as a wage.
Now days our kids have a bigger problem trying to do this today and have less left over.
1) Have we forgotten that the modern motor or truck is a bit different to a T model Ford, that came off the production line, in a shiny ‘Any colour, as long as it’s black’.
2) My grand folks home was sure different to what their great grandkids ‘require’ as their ‘entry point’ first abode.
Which brings me to the next question, So as a multi billion or even a grossly underrated several millions’aire, when it gets a bit ugly in say 10 years time what then? What and who is going to want to buy their extra 2 or 3 residential palaces & mansions and their fleets of 4,5 or 10 autos? Whats their market vs book value, just like commercial buildings now?
Always amuses me looking at thousands of McMansions of Versailles look-like, with 2 or 4 people living there with 6-15 bedrooms, bathrooms, 99% never used.
Armadas of watercraft in marinas, private aircraft and the toys of the ubers.
Fire sale values aren’t pretty.
We homo sapiens are so often crazy delusional animals, when we believe we have so many bank notes or credit facilities to lean upon and dream it will last forever..
Romans thought the same as did other civil homo sapiens.
‘Oh when the saints, come marching in… ‘ or when the they march through, will the good oil scrip, 5% govt.bonds & gold bars really be the sustaining answer?
I think not. At least maybe the safest place to plant your flag..
Like drunken or drug crazed teenagers with Mom & Dads Credit Card.
Once Mom or Dad get the bill.
It’s a swift kick in the teenager’s ass and TAKE BACK the credit card!
Plus now mow the grass for 6 months! Lol
If you look at the Fed balance sheet we still have about two trillion dollars floating around the economy. The Fed is only slowly cutting it down. This money is working its way through the economy causing inflation. The Wall Street crowd have collected theirs, the middle class is losing out to inflation. If the two trillion comes out a lot of real estate loans will not be able to be renewed as rates will climb.
This is a great post to share. Thank you for making it public.
Bill, You are comparing how many hours of work to buy something 110 years ago. So, how much did a cell phone, pacemaker, cancer vaccine, computer, tv, air conditioning etc. cost 110 years ago. You don't account for quality or quality of life. We do not account for the well being of people. GNP is not everything
Uh, what well-being? Happiness is hard to quantify, as is frustration. Still, despite more things that attempt to make us more comfortable, there seem to be a lot of unhappy people. But what do I know other than I try to apply this idea from Epictetus: “To make the best of what is in our power, and take the rest as it occurs.” And yet I’m feeling rather bruised by some of the things I’m taking. 😎
The greatly expanded life expectancy comes to mind in terms of well-being.. I'm sure there was caveman with a great outlook.Many more that were unhappy. That's on them.. Shake your bruises off.
Bruises cannot be shaken off. They run deep into the skin of things. They must heal from the inside.
Its not difficult to imagine the abundance of capital 110 years ago save for taxes. Pulling down the future is not a very smart receipe wait till the automobile needs repair in absence of credit. And not all quality is necessarily seen in the same manner when viewed from a prognosis or economic stand point. Advancements and innovations are great, dont get me wrong, its the application, motivation that has me twisted up in knots.
And its not free markets we see today best of luck.
Tom, you talk about how great all your recommendations are doing. But frankly, after losing my ass three times on recommendations of yours, I stopped following.
So, overbought, overvalued, Dow/gold, blah blah blah…the fact is, some of these high-flyers have solid earnings. I’m sitting on your “max safety” watching the rising stock and index ship sail away while I’m bobbing in a dinghy in its wake.
Just a comment from the other side of the ocean:
It cost me 800 Deutsch Mark (1992) for my driving license. 12 DM average students salary made it possible to have it financed in 70 hours of work.
Our kids have to pay in average 3.000 Euros for a license which allows you to drive only have of the things I have on my plate. 15€ average student salary ( if the take you under the age of 18) end up in 200 hours of work.
And then you need a car…
If there is one thing that legitimately can be labelled ‘white privilege’ … that is … US credit!