Just because we deal with reality instead of pie in the sky economic flim flam doesn't necessarily mean we don't know what we are talking about. You are working way too hard trying to discredit and diminish others. We are facing very challenging economic times and your efforts to simply ignore problems and attack those who point them out is less than helpful.
Richard W.
My quarrel with the article is that the author implies he understands the problem. He doesn't and his "answers" are thus worthless. I agree that there is a problem, which may surprise you. But technical analysis doesn't describe the problem and won't solve it.
Markets are stictly human phenomena and are as complex in the particular as are individuals. The roles of law and the sanctity of property as reliable bases for economic activity are completely ignored. They are crucial. The corruption of the law will ultimately be our downfall.
Law in turn is a reflection of values and that corruption has been going on for some while. It has been our enduring beliefs in hard work, contributing and keeping what we have earned in the form of property that has made this the greatest economy in the history of Man and sustained it.
How things go bad no one can say but I would wager that nobody will see it coming, given the complete blindness among the "experts" to the relevance of law and property. And they will, as usual, describe the debacle in fine technical detail after it happens. My 2 cents.
I guess this is where we differ. There are always problems in the economy, and I don't disagree with you about everything. I just think all the macroeconomic nonsense that affects the way you look at the world is not helpful. The other day you even quoted some obscure prognosticator with a phychology degree because it supported your belief that there is a huge credit bubble about to take down the economy. The posting of these comments from Weiss, whose newsletter is anything but a stellar performer, is in the same category.
In the long run, who knows. Maybe the credit bubble fear mongers will be proven right all along. I doubt it, but it's possible. Does that mean there aren't great investments out there that will prove profitable regardless? NO. That's the real and only reality I deal with. The economy in a macro sense is basically unpredictable. You and your cohorts are basically buying into a belief that it is. To the extent my comments have sounded like an attack upon you, please accept my apologies.