We’ve discussed before TMF’s transition from teaching people who to invest to selling stock picks. You gotta do what you gotta do, I suppose. But now TMF has fallen into full blown nuttery. At one time, TMF featured top tier financial writers like Whitney Tilson and Morgan Housel. Compare anything those gentlemen wrote with this example of crack pottery:
I’ll spare your poor eyeballs. The author is claiming a US recession is “inevitable.” Maybe, but we’re at full employment and prices for lots of things like lumber, energy, and food are dropping. Plus interest rates are still pretty low by historical standards. So, I don’t agree about the inevitable part. Seems like there is still some give in the economy. Then he says when the recession happens the Fed will lower interest rates. Makes sense. Then he claims that will cause inflation. That makes no sense at all. A recession by definition is slowdown in the demand for goods and services. That causes prices to fall, not rise.
He goes onto say the key to surviving his future inflationary period is to buy…Bitcoin. Now, in just over a year Bitcoin has lost 2/3 of its value vs. the USD. Which means Bitcoin is hyperinflating. In other words, he’s recommending you protect yourself from dollar inflation by buying a hyperinflating currency. What kind of crackpot logic is that? And how come Bitcoin isn’t protecting against inflation right now? You know, when you actually need the protection?
The mind reels. I thought it was the TMF April Fool’s joke for a minute.