I find it remarkable that people like this exist today. I have been following this blogger for many years. His original recommendation to get out of the stock market in 2007 turned out to be right, of which I took advantage of so didn’t lose any money. The problem was timing my reentry of which I was late and missed the rebound so in the end the exit and reentry timing turned out to be a wash for me from a gains perspective. I have since changed my perspective to never try timing the market, rather to stay fully invested with the confidence that over the long term my wisely chosen investments will grow significantly.
I didn’t know what a permabear was until it slowly dawned on me, over a few years, this blogger will find the cloud in any silver lining. Every single post that is made is negative and paints a doom and gloom picture. I find it very interesting that someone can take this approach and still maintain credibility. I suppose a broken clock is right twice a day, eventually he will be proven right, but after how long? I suppose there is a section of society that are pessimists and will always think that California will fall into the ocean, the government has a organized plan to take away their guns and fiat currency Armageddon is just around the corner.
I like to get diverse opinions from various sources and make up my own mind. This board in particular is helpful in that it appears to be full of people with reasonable opinions of the current and future state of the world economy.
Personally I think he is right about the coming Fiat/debt Armageddon event, but it could be a hundreds of years from now. There is plenty of opportunity remaining to invest and get great returns from a variety of investments. I feel for the guys who only invest in stockpiling physical gold.
The blogger in question is routinely pumping gold and miner stocks as a safe haven, of which I have placed a small portion of my portfolio in as insurance, but over the past few years these two investment vehicles have performed horribly. Particularly miner stocks. I don’t believe this blogger has ulterior motives regarding his pumping, I truly believe, he believes the end is nigh.
Thank you for all of you who contribute to the forums with balanced reasonable perspectives on where we are and where we are going.