Me Generation is pretty damn apropo. "Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times." - G. Michael Hopf
For the first time, i've read every comment below before commenting on your early comment. I'm not sure, but i'm guessing many of us are no one percent, perhaps in net worth. Bill and company are probably in the top one tenth of one percent, which is really good. My brother and I went to another city for a christmas event hosted by my oldest sister. We drove by the house where we were up. The old families were nearby our house which had been vacant for years. We hung out by the fireplace eighteen or twenty of my old friends. My young adult sons were freaked out. They were not raised with a silver spoon. Absolutely not! They were afraid! It was written all over their faces. These are the people I grow up with. My brother later said it's the best education they've ever had! They're older, sister said "that's a lesson for you guys. "Eleven people grew up there." Fortunately they're all good and successful mostly because of their mother. Still kind of a amount to my point... I have businesses and I had a great opportunit's time to be fall awhat kind of quickly. And unbelievably I was happy. I was happy because I didn't want to dig out the cash to cover it. Because I'm so uncertain, and I'm a little older. A week or so ago, BPR Post a picture of uncle sam on a worn out horse. He was dejected, looked like about to fall off. ... Never in my life have I been dejected or afraid of injecting capital. It really sucks but I think that's where we're at.
Always remember... if you work hard either way you win!
Great story and thanks for sharing! I totally agree with your quote about hard work. I've always loved being around hard working, passionate, family oriented folks. Not all of them got rich, but their positive energy was/is unbelievably infectious and motivating for me :-) Those were my heros and the type of person I wanted to emulate. I'm hopeful we can have the same impact on the younger generation.
When I was in my early twenties and leased a piece of property where I ran a business, the old man that owned the lot once told me, "The harder I work, the luckier I get." He had a tool and die making business himself and lived overlooking the Pacific Ocean in Pacific Palisades, California. I figured, "that seems simple enough, what am I going to do with my time otherwise anyway?" It turned out to be one of the most sage quips I ever heard.
“I somehow resent the statement that our generation has given nothing, coming from a Billionaire.
Some of us grew up dirt poor. Did careers in the military (Giving 20 of the best years of of our life “defending” an ideal that perished, for a relative pittance of pay), did another career of field service all over the world, giving up much of “normal life” to keep industries going. And saving and investing my way to “high net worth”.
Giving back through church activities and charitable giving.
Raised 3 children, one of whom I just buried.
Currently raising a grandchild as “ward”, because nobody else could.
And I’m being lumped in as part of a generation that has “Given Nothing. Nothing!”
Nice attempt at shaming via collectivist dialogue, but go pack sand.”
I don't think Druckenmiller was talking about you and others like you
He was talking to his billionaire buddies, none of whom (to my knowledge) wore the uniform unlike you, me (Air Force) and Bill Bonner (Navy)
Better if he would talk to our elected officials. It's these guys who are over-spending and who have pushed a gargantuan tax burden onto generations of unborn citizens
I get your point. I’m sure you’re right. But words actually convey meaning. And to lump every single individual in a generation under one banner is unfair at best, ignorant at worst. And I will NOT be “shamed” by the likes of Mr. Druckenmiller. The more appropriate question is ( as Andrew Carnegie and Henry Ford answered in libraries, colleges, and the like) “What have YOU done with your exorbitant wealth”?
When I was 12, my mother told me there was a man coming who might take our car and she wanted me to promise I wouldn't fight him or shoot him (my dad, after 3 wars), was a recently retired Air Force NCO who had suffered several heart attacks, and was fighting for his VA disability rating). I went on to serve 8 years in the Air Force and and raised two daughters who did not spend one day in public schools--both are now graduates of UC Davis. Yes, our parents were part of an amazing generation and we have given far less. But given nothing?
It’s somewhat the “fault” of the Baby Boomers I suppose. But blaming an entire generation falls into the trap that Gen X and Millennials love to set. And I think you have fallen. The difference between those born in 1946 and those born in 1965 is massive. In just about every measurable way. And you are ‘covering’ for those born in the 40s who are not Boomers. People like Pelosi, Schummer, Feinstein, Soros, Warren Buffet and a plethora of others. In my view, the creak chaos has been caused by those born at the tail end of the Silent Generation and the first 1/2 of the Baby Boomers. That is where you will find most of your culprits, the vast majority who should have been sent out to pasture a decade or two ago.
Bill broke my rule today and read the comments .. never a good idea but just to support exactly what you so eloquently stated in today missive .. all the guys that I grew up with at Superior Gunite in North Hollywood Calif were ex marines who had stuck together after Iwo Jima Guadalcanal etc and were all working for Ed Olsen their former commander building everything you can imagine all over the western US from Budweiser Brewery in Van Nuys to thousands of miles of Freeways Bridges from 29 Palms north to China lake up and down the entire freeway network and of course 10 of thousands of swimming pools all over the LA/Orange/Sanberdu counties .. they were tough as nails but had guts to do jobs that today would be Banned because of some health and safety laws .. they worked hard and played hard but never expressed anything close to the racism of today .. we just all got along regardless of color creed religion nationality etc no one cared only the color of your Sweat mattered .. often fights would erupt when our black crew or hispanic crew were refused service for food/drink because some one didn't like their smell etc but that was quickly settled before we had millions of laws to enforce behaviour that must come from human hearts and can not be legislated .. anyway it was a grand generation of survivors who built the USA up after WW2 like the Red Adair's or the Ed Galloway or a thousand others who saw what war meant and did not ever want that to happen again .. most of them are gone now but they would be sad indeed to see what we've made of all their hard work that has given ALL the post WW2 generations as sense of entitlement were they have little value or appreciation for their efforts !
sure did as we only lived a few blocks from there in Sepulveda but all before the big I5 came down and replaced the old Sepulveda Road .. that was an improvement but we used a lot less petrol in 1970 cars than we do today and once we got them catalytic converters we could all start to breathe again .. it was the greatest place in the world to grow up from 58' till 70' when I went back to my roots in WGermany but nothing stayed the same which was good because without the Marshall plan it would have taken Europe a lot longer to rebuild .. but you're right those guys turned me into a yank who never wanted to leave but then too many other folks came with different ideas about what's right and wrong and that changed the SF Valley from the largest most productive land on earth ie 4 crops a year .. to nothing but parking lots and pavement .. what a shame . I miss watching the constellations flying down Sherman Way as there approach to Burbank airport the only one at the time ..
Bob Hope owned most of the east valley and all them 1930's actors bought further west right out to Camarillo where we ended up .. but growing up on the corner of Bellaire and Sherman Way way a kids dream .. at least this little migrant kid got the best education ever for Free at Madison Grant Valley College and Northridge all for the price of a student card $3.50 a year .. today my kids are still paying off the HECS debt here in Oz .. ah well another life but it was terrific in the 50'-60's then it went to pot Pol Pot and all that other shit took over the sensible fair minded world that my parent moved there for .. very sad they'd be ..
Bill, I so look forward to your daily issuances (or from your cohorts). I was born in 1944 and have worked all over the world - and enjoyed it (I may have been blinded by the joy of what I was involved in constructing - like a light rail system in New Jersey, or the tanker piers in Alaska for the Trans Alaska pipeline, or offshore platforms built in England for installation in Mexico and numerous hospitals in California and one in South Korea). I am deeply concerned for my grandchildren and their future as the incompetents in DC (getting richer by the day) continue to run this country down the drain at the expense of the TRUE hard- working middle class American CITIZENS suffering due to the Politicos failures. Keep up the great work.
Happy ending dear Dorothy? I know we don't see eye to eye on too many subjects, but pleae read "Mao's America" and then follow the trail of denial it sets you apon.
You may find the "facts" and the truth, but I'm sorry, it's probably too late...
Steve, she is impossible. I sent her to sub stack, zero hedge, Lou, Rockwell, etc. websites will you get the truth. She prefers CNN. Do not engage her. It is senseless.
SL: I don't think it's always too late. I'm really an optimistic person. I still have hope that you and some of your friends will find out the real truth about the Republican's fall from grace. I know, 1-6 was just a walk in the park and Donald has Never cheated on his taxes. What a guy! I will checkout Mao's America.
It is not to lament, but to give thanks for what we have today. Tomorrow comes with its own problems. Tomorrow's generation can best work through tomorrow's problems.
Rather than a Happy Thanksgiving, let ours be a "Thankful Thanksgiving." Leonard Hartman
Well Dear Bill this morning missive was a 'tear jerker' I remember so well arriving in the US on the 1 of January 1958 after having been transported to Canada as Diefenbaker's DP's .. we spent 5 years working off our passage on a farm near a small town (Renfrew) with a family of wonderful people who gave us more than we can ever put into words and then we left for the great adventure into the 'States' as Canucks called them ( in those days they were still United) but then the 60's arrived and everything changed and not for the better .. but no amount of tears and sadness will bring those wonderful time back .. we just have to move on and so we did but the degradation of humanity followed us so that no matter where you live the plight of humanity is desperate .. yet we live in hope that some one somehow will lead us out of our decent into Dante's inferno ..
This is why they were not the greatest generation. As a generation, they were not all that great.
However, there were great among them, and you just mentioned a few.
And every generation has a few great people. Mostly not, though. And fewer and fewer with every passing generation.
We are now completely governed by the weak and the corrupt. We collectively elected them. Well, the system is rigged to vote for corrupt “A” or corrupt “B”.
However, history has a way of correcting these inadequacies…
Yes, Bill. Ad nauseum. We already know all of this. You've written it many times in your haphazard way. And I've gotten more rational analysis from elsewhere. But I get it - it's difficult to come up with something new every day as you write your daily column. So, don't write a daily column. We certainly will survive without it.
P.S. It is totally wrong to blame a generation. It's not a generation that is to blame, it's particular individuals. There are always dissenting voices within a generation. Who was it, Brokaw, that wrote the Greatest Generation - the generation that gave us FDR for 3-1/2 terms?
I spend a great amount of time lobbying Congress and going door to door in an attempt to reform our immigration system (stop illegal immigration, deport illegals and greatly reduce legal immigration) to no avail.
I did not find the younger generation supporting these positions in the least.
The older generation? They gave us the Immigration Reform Act of 1965 that set us on this course. That bill was not passed or signed into law by Boomers.
Damn straight, and it was either Teddy Kennedy, of the famed Kennedy ilk, (or maybe LBJ) that proclaimed, "This bill we sign today is not a revolutionary bill. It does not affect the lives of millions. It will not restructure the shape of our daily lives" when they passed the "Immigration and Nationality Act of 1965".
It's too bad neither one of those idiots is still around today to see what they foisted upon us as a nation.
Mr. Bonner, and the rest of you, are wrong as to the cause of the decline of the USA. The real reason the US is declining is the unbelief of the 7th church. Jesus description of it in Revelation 3:14-21 is perfectly accurate. This church was supposed to preach the good news to a dying world, and usher in Christ's second coming. Instead, the 7th church rejected the righteousness of Christ in 1888, and, not content to wander in the desert for 40 years, went even further to Egypt, joining the other partially fallen Christian churches. Isaiah 4:1. Thus, the 7th church is responsible for all the wickedness in the 20th century; the wars, starvation, the perfection of godlessness, the millions murdered, the hopelessness, and, of particular interest to BPR subscribers - the debasement of money. As the acorn to the oak. There is no 8th church. Thus, the only one who can remedy this is God Himself. When the cup of the 7th church is full, He will separate the wheat from the chaff. The details are in Ezekiel 9, and the reasons this event will come about are in the previous chapters. Hardly any of you know what I'm talking about, but the wise among you will understand. Stay tuned, all will be made clearer.
There are a thousand hacking at the branches of evil to one who is striking at the root.
-Henry David Thoreau
Christ will strike at the root, or, rather, He will prune the dead branches, so the tree can flourish.
“People are neither always good, nor always bad… but always subject to influence.”
The Baby Boomer generation was the first to live in an economy without a gold backed currency… only possible because of the ‘goodwill’ earned by previous generations and ‘globalisation’ which traded cheap labour for our technology and paper.
But… “what do we do when it becomes impossible to keep living in the style to which we’ve become accustomed? Do we own up … and straighten up?
Or print more money? If only? All we can do is print more inflation… after which we will be forced to straighten up!
How many very wealthy, such as Mr. Druckenmiller, so convincing on what WE should do, are convinced enough themselves to do it first, just to see if WE will follow.
Me Generation is pretty damn apropo. "Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times." - G. Michael Hopf
For the first time, i've read every comment below before commenting on your early comment. I'm not sure, but i'm guessing many of us are no one percent, perhaps in net worth. Bill and company are probably in the top one tenth of one percent, which is really good. My brother and I went to another city for a christmas event hosted by my oldest sister. We drove by the house where we were up. The old families were nearby our house which had been vacant for years. We hung out by the fireplace eighteen or twenty of my old friends. My young adult sons were freaked out. They were not raised with a silver spoon. Absolutely not! They were afraid! It was written all over their faces. These are the people I grow up with. My brother later said it's the best education they've ever had! They're older, sister said "that's a lesson for you guys. "Eleven people grew up there." Fortunately they're all good and successful mostly because of their mother. Still kind of a amount to my point... I have businesses and I had a great opportunit's time to be fall awhat kind of quickly. And unbelievably I was happy. I was happy because I didn't want to dig out the cash to cover it. Because I'm so uncertain, and I'm a little older. A week or so ago, BPR Post a picture of uncle sam on a worn out horse. He was dejected, looked like about to fall off. ... Never in my life have I been dejected or afraid of injecting capital. It really sucks but I think that's where we're at.
Always remember... if you work hard either way you win!
Great story and thanks for sharing! I totally agree with your quote about hard work. I've always loved being around hard working, passionate, family oriented folks. Not all of them got rich, but their positive energy was/is unbelievably infectious and motivating for me :-) Those were my heros and the type of person I wanted to emulate. I'm hopeful we can have the same impact on the younger generation.
When I was in my early twenties and leased a piece of property where I ran a business, the old man that owned the lot once told me, "The harder I work, the luckier I get." He had a tool and die making business himself and lived overlooking the Pacific Ocean in Pacific Palisades, California. I figured, "that seems simple enough, what am I going to do with my time otherwise anyway?" It turned out to be one of the most sage quips I ever heard.
Good stuff! I never tire of those stories.
Bill,
If you could relay to Mr. Druckenmiller:
“I somehow resent the statement that our generation has given nothing, coming from a Billionaire.
Some of us grew up dirt poor. Did careers in the military (Giving 20 of the best years of of our life “defending” an ideal that perished, for a relative pittance of pay), did another career of field service all over the world, giving up much of “normal life” to keep industries going. And saving and investing my way to “high net worth”.
Giving back through church activities and charitable giving.
Raised 3 children, one of whom I just buried.
Currently raising a grandchild as “ward”, because nobody else could.
And I’m being lumped in as part of a generation that has “Given Nothing. Nothing!”
Nice attempt at shaming via collectivist dialogue, but go pack sand.”
Thanks.
Jim
I don't think Druckenmiller was talking about you and others like you
He was talking to his billionaire buddies, none of whom (to my knowledge) wore the uniform unlike you, me (Air Force) and Bill Bonner (Navy)
Better if he would talk to our elected officials. It's these guys who are over-spending and who have pushed a gargantuan tax burden onto generations of unborn citizens
Jimm,
I get your point. I’m sure you’re right. But words actually convey meaning. And to lump every single individual in a generation under one banner is unfair at best, ignorant at worst. And I will NOT be “shamed” by the likes of Mr. Druckenmiller. The more appropriate question is ( as Andrew Carnegie and Henry Ford answered in libraries, colleges, and the like) “What have YOU done with your exorbitant wealth”?
Carnegie was a socialist and atheist. He suffered from the same fatal flaw most people suffer from - he wouldn't allow God to save him.
When I was 12, my mother told me there was a man coming who might take our car and she wanted me to promise I wouldn't fight him or shoot him (my dad, after 3 wars), was a recently retired Air Force NCO who had suffered several heart attacks, and was fighting for his VA disability rating). I went on to serve 8 years in the Air Force and and raised two daughters who did not spend one day in public schools--both are now graduates of UC Davis. Yes, our parents were part of an amazing generation and we have given far less. But given nothing?
It’s somewhat the “fault” of the Baby Boomers I suppose. But blaming an entire generation falls into the trap that Gen X and Millennials love to set. And I think you have fallen. The difference between those born in 1946 and those born in 1965 is massive. In just about every measurable way. And you are ‘covering’ for those born in the 40s who are not Boomers. People like Pelosi, Schummer, Feinstein, Soros, Warren Buffet and a plethora of others. In my view, the creak chaos has been caused by those born at the tail end of the Silent Generation and the first 1/2 of the Baby Boomers. That is where you will find most of your culprits, the vast majority who should have been sent out to pasture a decade or two ago.
Bill broke my rule today and read the comments .. never a good idea but just to support exactly what you so eloquently stated in today missive .. all the guys that I grew up with at Superior Gunite in North Hollywood Calif were ex marines who had stuck together after Iwo Jima Guadalcanal etc and were all working for Ed Olsen their former commander building everything you can imagine all over the western US from Budweiser Brewery in Van Nuys to thousands of miles of Freeways Bridges from 29 Palms north to China lake up and down the entire freeway network and of course 10 of thousands of swimming pools all over the LA/Orange/Sanberdu counties .. they were tough as nails but had guts to do jobs that today would be Banned because of some health and safety laws .. they worked hard and played hard but never expressed anything close to the racism of today .. we just all got along regardless of color creed religion nationality etc no one cared only the color of your Sweat mattered .. often fights would erupt when our black crew or hispanic crew were refused service for food/drink because some one didn't like their smell etc but that was quickly settled before we had millions of laws to enforce behaviour that must come from human hearts and can not be legislated .. anyway it was a grand generation of survivors who built the USA up after WW2 like the Red Adair's or the Ed Galloway or a thousand others who saw what war meant and did not ever want that to happen again .. most of them are gone now but they would be sad indeed to see what we've made of all their hard work that has given ALL the post WW2 generations as sense of entitlement were they have little value or appreciation for their efforts !
sure did as we only lived a few blocks from there in Sepulveda but all before the big I5 came down and replaced the old Sepulveda Road .. that was an improvement but we used a lot less petrol in 1970 cars than we do today and once we got them catalytic converters we could all start to breathe again .. it was the greatest place in the world to grow up from 58' till 70' when I went back to my roots in WGermany but nothing stayed the same which was good because without the Marshall plan it would have taken Europe a lot longer to rebuild .. but you're right those guys turned me into a yank who never wanted to leave but then too many other folks came with different ideas about what's right and wrong and that changed the SF Valley from the largest most productive land on earth ie 4 crops a year .. to nothing but parking lots and pavement .. what a shame . I miss watching the constellations flying down Sherman Way as there approach to Burbank airport the only one at the time ..
Bob Hope owned most of the east valley and all them 1930's actors bought further west right out to Camarillo where we ended up .. but growing up on the corner of Bellaire and Sherman Way way a kids dream .. at least this little migrant kid got the best education ever for Free at Madison Grant Valley College and Northridge all for the price of a student card $3.50 a year .. today my kids are still paying off the HECS debt here in Oz .. ah well another life but it was terrific in the 50'-60's then it went to pot Pol Pot and all that other shit took over the sensible fair minded world that my parent moved there for .. very sad they'd be ..
Bill, I so look forward to your daily issuances (or from your cohorts). I was born in 1944 and have worked all over the world - and enjoyed it (I may have been blinded by the joy of what I was involved in constructing - like a light rail system in New Jersey, or the tanker piers in Alaska for the Trans Alaska pipeline, or offshore platforms built in England for installation in Mexico and numerous hospitals in California and one in South Korea). I am deeply concerned for my grandchildren and their future as the incompetents in DC (getting richer by the day) continue to run this country down the drain at the expense of the TRUE hard- working middle class American CITIZENS suffering due to the Politicos failures. Keep up the great work.
Bill, enjoyed your article today...good job! Not looking forward to a happy ending...but hopeful.
Happy ending dear Dorothy? I know we don't see eye to eye on too many subjects, but pleae read "Mao's America" and then follow the trail of denial it sets you apon.
You may find the "facts" and the truth, but I'm sorry, it's probably too late...
Steve, she is impossible. I sent her to sub stack, zero hedge, Lou, Rockwell, etc. websites will you get the truth. She prefers CNN. Do not engage her. It is senseless.
Yes brother, as I always say, “ you can’t fix stupid” 😳
SL: I don't think it's always too late. I'm really an optimistic person. I still have hope that you and some of your friends will find out the real truth about the Republican's fall from grace. I know, 1-6 was just a walk in the park and Donald has Never cheated on his taxes. What a guy! I will checkout Mao's America.
GF: I am optimistic, but it gets harder each day. Thanks for giving to the food banks..every little thing helps someone...Have a nice day!
It is not to lament, but to give thanks for what we have today. Tomorrow comes with its own problems. Tomorrow's generation can best work through tomorrow's problems.
Rather than a Happy Thanksgiving, let ours be a "Thankful Thanksgiving." Leonard Hartman
Well Dear Bill this morning missive was a 'tear jerker' I remember so well arriving in the US on the 1 of January 1958 after having been transported to Canada as Diefenbaker's DP's .. we spent 5 years working off our passage on a farm near a small town (Renfrew) with a family of wonderful people who gave us more than we can ever put into words and then we left for the great adventure into the 'States' as Canucks called them ( in those days they were still United) but then the 60's arrived and everything changed and not for the better .. but no amount of tears and sadness will bring those wonderful time back .. we just have to move on and so we did but the degradation of humanity followed us so that no matter where you live the plight of humanity is desperate .. yet we live in hope that some one somehow will lead us out of our decent into Dante's inferno ..
Yes Altschule, the communist had much power in the "States" during the 50's, 60's, 70's 80's....and now its over.
You are in a "safe" place down under, but your government is also highly infected, and will eventually destroy it's host, as we witness here.
Most of the world is on coarse for a quick decent into the inferno, but we don't need to follow, and i'm sure your safer then you think:)
This is why they were not the greatest generation. As a generation, they were not all that great.
However, there were great among them, and you just mentioned a few.
And every generation has a few great people. Mostly not, though. And fewer and fewer with every passing generation.
We are now completely governed by the weak and the corrupt. We collectively elected them. Well, the system is rigged to vote for corrupt “A” or corrupt “B”.
However, history has a way of correcting these inadequacies…
Yes, Bill. Ad nauseum. We already know all of this. You've written it many times in your haphazard way. And I've gotten more rational analysis from elsewhere. But I get it - it's difficult to come up with something new every day as you write your daily column. So, don't write a daily column. We certainly will survive without it.
P.S. It is totally wrong to blame a generation. It's not a generation that is to blame, it's particular individuals. There are always dissenting voices within a generation. Who was it, Brokaw, that wrote the Greatest Generation - the generation that gave us FDR for 3-1/2 terms?
It is not correct to blame a single generation.
I spend a great amount of time lobbying Congress and going door to door in an attempt to reform our immigration system (stop illegal immigration, deport illegals and greatly reduce legal immigration) to no avail.
I did not find the younger generation supporting these positions in the least.
The older generation? They gave us the Immigration Reform Act of 1965 that set us on this course. That bill was not passed or signed into law by Boomers.
Correct David, it never was a "Generational" issue, but always a communist one.
Damn straight, and it was either Teddy Kennedy, of the famed Kennedy ilk, (or maybe LBJ) that proclaimed, "This bill we sign today is not a revolutionary bill. It does not affect the lives of millions. It will not restructure the shape of our daily lives" when they passed the "Immigration and Nationality Act of 1965".
It's too bad neither one of those idiots is still around today to see what they foisted upon us as a nation.
Stanley D for President!!!👌👊
Mr. Bonner, and the rest of you, are wrong as to the cause of the decline of the USA. The real reason the US is declining is the unbelief of the 7th church. Jesus description of it in Revelation 3:14-21 is perfectly accurate. This church was supposed to preach the good news to a dying world, and usher in Christ's second coming. Instead, the 7th church rejected the righteousness of Christ in 1888, and, not content to wander in the desert for 40 years, went even further to Egypt, joining the other partially fallen Christian churches. Isaiah 4:1. Thus, the 7th church is responsible for all the wickedness in the 20th century; the wars, starvation, the perfection of godlessness, the millions murdered, the hopelessness, and, of particular interest to BPR subscribers - the debasement of money. As the acorn to the oak. There is no 8th church. Thus, the only one who can remedy this is God Himself. When the cup of the 7th church is full, He will separate the wheat from the chaff. The details are in Ezekiel 9, and the reasons this event will come about are in the previous chapters. Hardly any of you know what I'm talking about, but the wise among you will understand. Stay tuned, all will be made clearer.
There are a thousand hacking at the branches of evil to one who is striking at the root.
-Henry David Thoreau
Christ will strike at the root, or, rather, He will prune the dead branches, so the tree can flourish.
“People are neither always good, nor always bad… but always subject to influence.”
The Baby Boomer generation was the first to live in an economy without a gold backed currency… only possible because of the ‘goodwill’ earned by previous generations and ‘globalisation’ which traded cheap labour for our technology and paper.
But… “what do we do when it becomes impossible to keep living in the style to which we’ve become accustomed? Do we own up … and straighten up?
Or print more money? If only? All we can do is print more inflation… after which we will be forced to straighten up!
How many very wealthy, such as Mr. Druckenmiller, so convincing on what WE should do, are convinced enough themselves to do it first, just to see if WE will follow.
Aw, gee, Bill...what the hell? Can't "we" hate "ourselves" just a little more? Best always. PM