The Phaserl


Circling the toilet, or light at the end of tunnel?

from TF Metals Report:

Most of you, dear friends and family, do not comment about my economic views when we chat, but I feel compelled to speak out because most of us have funds invested somewhere. I know you care, at some level. This essay may ruin my reputation with many of you. I would prefer to be wrong, and I’ll eat crow if I am, but the evidence points to economic downturn in our future. It began last Friday. Why not pour a cup of coffee and read on? In the rest of this essay I’ll explain what has happened with our economy and make suggestions for what you can do about it.

There is light at the end of the tunnel we have entered. And no, it’s not named Sanders or Trump. Read on. Get educated. But don’t read part of this essay without at least skipping to the end where I discuss the light at the end of the tunnel. What follows was not written by your old friend-relative named Jerry, but by my alter-personality that many of you do not know: Dr.J– a well-educated professor who understands something of the world financial system and the history of economics. I know what the f— I am talking about.*

Search your heart. All is not well. Our economic system was irreparably broken by greed and mismanagement in 2008. Our economy has entered a slow slide into 3rd world status.

From there to here.

Prior to 2008, We had capitalist economic system where people worked hard, saved money, and invested that money to earn a return—sometimes in a savings account, other times in mutual funds. Few of us traded stocks directly and even fewer understood how the financial markets really worked. But we do understand interest. I put $100 in the bank in a 4% passbook account and at the end of one year, the bank pays me 4% on the 100—a whopping $4. Now I have $104 But hey, don’t get cynical. Next year I get 4% on 104, and I am also able to put far more than $100 in savings if I am frugal. It adds up, fast. Enter mutual funds. My fund made 17% for several years in the 1990s. Now we are getting somewhere. It all makes sense. Save more and invest it and one day you can retire.

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