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This is the first time we have spent Christmas in Ireland. Our family is spread out…between the US and Europe. Usually, we return to the old family farm in Maryland for the holidays. But this year, we decided to make it easier on the European contingent of the family
Tomorrow, we launch a new project to investigate this new era. It involves, once more, a renaissance in our resources sector. We believe this will be the most important topic for Australian investors to understand and position for, for the rest of this decade. Maybe longer.
Without the discipline of real money, wickedness and fraud are impossible to control. And here comes more fake money…
The Fed and its member banks funded the federal government by expanding the money supply, lending out newly created dollars — especially to the US Government. GDP growth slowed. But debt growth sped up. In 1980, US debt was still less than US$1 trillion. Now, it is US$31 trillion…and growing fast.
As predicted last week, stocks began trading yesterday with the Dow at less than 30,000. Next target: 20,000.