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Richard's Remarks

 

Those who have read Barton Biggs' great book, Wealth, War and Wisdom, have learned all about the stock market's uncanny ability to divine or forecast the future.

 

Now I want to bring that thesis into the present. I hear daily about the horrendous circumstances that the US faces -- rising interest rates, hyperinflation, debt disaster, deflation, war in the Ukraine, war is Gaza, fading GDP, unemployment, Millennials moving back with their parents. And this is only a partial listing of potential troubles.

 

I've been thinking long and hard about our so-called dangerous future, and my conclusion is that the stock market knows all our frightening future and more -- but the stock market in its uncanny wisdom is telling us that everything will be fine, and for the foreseeable future there's nothing to worry about.

 

And I ask, "How is that possible?" The stock market offers no explanation, it simply goes its own way.

 

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