Ok. I'm on a mission here. Big deal going on tomorrow, but this is a five minute window in which I'm having a break. So I'm reviewing data, writing and sending. I think of and quickly click onto this chat site, and yeah, I'm popping one off.
Generally hunkered down on the financial front, so no drama there. But let me put it to you this way: think of an avalanche. The markets are one, and their roll downhill has started. It will gather pace very quickly, with far more speed and devastation that what we went through in '08.
Gold? Laughable. China? Same. Any and all equities? Get ready to burn your scrips. Short a financial product? Can you see the short selling bans on the horizon? I can. Along with potential counter-party risk where the system is overloaded, and collapses.
This is beyond most people's awareness, which is fine.
I wouldn't rag on my son for not knowing w.t.f. about getting an airplane prepped for flight; started without burning the hot section; taxiing without ending up in the rhubarb; knowing HOW to rotate, or when; not getting lost at night on the way from, say, Singapore to London.
That's because he's 17 and he does not know jack **** about flying airplanes, or about markets, how they work, what drives them and how to profit (and limit losses) from them. I wouldn't rag on him for that.
Land, art, collectibles, commodities (talk to me about copper, i dare you), bonds, stocks; toast. Burnt bloody toast mate. Sorry, but if you can't fly an airplane you shouldn't be in the cockpit. Same goes for financial products. If you DON'T understand them, you should be in cash. If you DO understand them, you would be.
This is NOT pessimism. It's about not having faith in my son's ability to pole a whale all the way to London. It's about knowing why and when an avalanche is about to roll, and getting the phuck out of the way.
But hey, what would I know.