Stocks and shares: tomorrow they could be up, the day after they could be down. Invariably, they’re at the bottom of a television screen. But are they worth all the scrutiny paid to them?
The last time that we were in debt-deflation was the 1930s. It took extreme policy measures to end debt deflation back then. Not the New Deal, not the Rentenmark but rather a policy, or at least an outcome, called World War II.
I’m increasingly described these days as a perma-bear or something of a pessimist. I think this is a little unfair because as I often point out, I’ve only been bearish for only most of the last 18 or 19 years or so and only in respect of most aspects of the global economy.
In the latest MBMG Investment Advisory Research Paper, The Last Innings, I’ve commented on last weekend’s Berkshire Hathaway AGM and the excitement of investors’ annual pilgrimage to Omaha to worship at the shrine of the insurance company’s iconic leader, Warren Buffett.