A: |
In my weekly newsletter, I recently
quoted 68 books written since 1969 with the words Depression, crash, deflation,
etc. in the title. They all had one thing
in common: It didn't happen. There are
always those that predict this or that
terrible calamity. We have been through tough
times before: 1974, 1981, 1987, 1990,
1998, 2001, 2008, etc. etc. Each time we
were in it, we heard: "We have never had
it this bad before." And yes, the naysayers
were right, it was always worse. Primarily
because we were printing more money
than before. Now, we are printing the
most ever! That is why I believe the naysayers will be wrong again. Each time
the numbers are bigger, the zeros larger
and each time - after climbing a wall
of fear - we muddle through, with the
result that hard assets will be even higher
again five or 10 years later. I would still
rather have that investment property
(particularly one where the tenant pays
my mortgage).
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