How to Escape Like Willie Boy
A Gentle Nudge
The America we thought we knew – the country we learned about in grade school – vanished long ago. In truth, it was gone well before we stepped foot in our first classroom. But America’s myths and legends remain.
The Wild Bunch… where are their stetsons? Contrary to myth, cowboys rarely sported a stetson. They wore bowler hats instead. The stetson only became available in 1865 and wasn’t really considered fashionable before the turn of the century. [Myth buster PT]
The myth that America makes the world safe for democracy. The legend that the role of free press in America is to hold government accountable. The myth that the U.S. Constitution is the supreme law of the land. The legend that the Fed maintains stable prices. And on and on…
Preserving America’s myths and legends has become risky business in the 21st century. Risky in the sense that it propels America towards a great geopolitical conflict. So, too, it puts hardworking Americans – and an army of shirkers – in the crosshairs of an epic financial crackup.
How to save and invest for a tomorrow that is far different from today is an extraordinary challenge. We can’t say for certain. But we venture a guess that buying and holding an S&P 500 index fund over the next 30 years won’t cut it.
The bull market in American stocks is running out of steam. The economy, propped up by a 50 year debt binge, is beyond unsound. When the credit cycle turns, and the illusion of prosperity vanishes, the hopes and dreams of millions of people will be crushed.
Yet with a little imagination and resourcefulness, you can still plot an escape route for preserving and transferring your wealth across the great divide. What follows is a gentle nudge down this path.
SPY monthly – better give it a pass at this juncture [PT]
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