Quote:
Originally Posted by Boomer
Plutocracy. Kakistocracy.
What could possibly go wrong with the economy.
Guardrails gone. Dereg without regard. Jobs slashed. Bridge projects over before they begin. Food industry with worsening shortages of workers. Healthcare a mess. On and on and through and through the economy — the effects will be felt by all of us.
The markets have always been unpredictable. As Buffett said, “Beware of geeks bearing formulas.” I have never bothered with all that analysis.
But as far as a feel goes, mine is that the ship is headed into uncharted waters like none we have ever seen before.
Boomer
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My greatest concerns are the huge national debt and our disappointing (to say the least) public school systems which have been declining since the SAT scores peaked during the early 1960s. Student scholastic performance has gone downhill ever since. The decline became so blatantly and embarrassingly obvious the SAT was dumbed down in 1994. Today most colleges need to offer remedial English and Math courses to incoming students. The future does look grim.
Of course a large war could erupt or we could be hit with another pandemic. My father got and survived the Spanish Flu in 1918 but it killed more people that did The Great War. One just never knows.
An easy to read classic written about investors' experiences during the Great Depression era is "Where are the Customers' Yachts?" by Fred Schwed Jr. I found it rather chilling.