I Am Unique

Skating is fun, until you fall. I am relatively unique among the "hard money" types you see on TV or on YouTube. I do not think that the crisis we all are expecting will happen any time soon. I would not at all be surprised if the US will continue to skate its way though various types of sub crisis for years. I expect that President Clinton will have to deal with this, maybe in her second term.

The power of the system is immense. Japan, for example, has huge reserves that can be spent. They will be spent, but that will take years. There is still "seed corn" that can be eaten. It will be eaten.

There are actually several positive signs right now. The two recent deals are having their effect on the US budget. There was a modest reduction in the planned increase of government spending, combined with a modest tax increase, combined with continued corporate profits. The domestic increase in oil and gas production is also positive. Thus I describe myself as guardedly pessimistic.

I have often quoted Herb Stein, what can't continue won't continue. He was right. Get ready.