Suddenly “You Can’t Ignore The Data” Has Turned Into “Trust Me”
The week that passed has been nothing short of a roller coaster ride for many nervous investors. And for some: a realization that the once hyped, hawked, and levered Billion dollar babies can indeed “come off the rails.” Turning the once joyride into something more in common with a free fall into the abyss.
And just like at the carnival the progression is the same: The barker takes your money, you get to ride and scream in fits of mania and terror, and if by chance it careens out of control? It’ll be insisted that such things can, and do happen which are clearly stated in micro-print on the back of your ticket. And – there is no refund. Only issue is the cost for such a ride isn’t comparable to some expensive latte – it’s your future retirement savings, and whether or not you’ll ever have enough left to buy another latte after this ride is through.
However, you’re told not too worry: For if you loved the ride when the prices were higher, then surely you should be ecstatic to “ride again” since the new ticket prices are clearly “on sale!”
Is it any wonder why “carnival barker” seems so easily interchangeable with the next in rotation Wall Street fund manager, analyst, economist ___________(fill in the blank) on the financial media shows than not?
If you dared question the meme “everything is awesome” you were branded as some “data denier.” If you weren’t branded with that moniker you were surely scolded to have: “No understanding of Fed. monetary policy.” Or, you’re insulted for using common sense backed up with actual business acumen for questioning their premise to which they proclaimed people like myself as: “Idiots.” (yes, that’s an actual quote) Well, I have only one “idiotic” question: How’s all that data working out?
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