Overall, we seem to be closing in on the truth, which is not surprising as the future steadily arrives, day by day, bringing our foggy guesses of 18 months ago into the hard light of day and reality testing up close and personal.
There seems to be a developing compromise. The Dow has not reached 16,000. Neither has there been a financial implosion in 2001, nor 2002 so far. There was barely an economic slowdown, let alone a recession, in 2001.
Meanwhile, no, I am not comfortable with a lot of US$ cash. I am very nervous and wish to abandon that position as soon as I can. It's like holding the $ parcel in a "pass the parcel" game, with nothing in the middle, waiting for the music to stop and finding the last layer of paper come off in my hands instead of somebody else's.
I am currently the sucker in the Ponzi scheme; the end-fool in the greater fool theory; the last multi-level marketing participant when everyone else has joined. Well, that's an exaggeration, but it feels a little like that.
Like standing at the North Pole admiring the view as the ice melts away and there's only a great northern ocean left.
So, it's a temporary position, while I wait for financial balance to re-establish or some opportunity shows up which I like. Gold is NOT one of those. With all due respect to nature, it really is just another stable atom which conducts electricity, smears out nice and thin, is corrosion-free and fits in a pocket nicely [etc].
Mqurice |
