What a strange thing it is to be on the “before” side of a market crash while most economists are oblivious to or in complete denial of the inevitable.
It’s like seeing an accident about to happen, but you’re powerless to stop it.
One person raising the alarm, however, is David Stockman in an article entitled “The Illusion of Growth” and published November 21, 2017. As his biography states, he was a two-term Congressman from Michigan. He was also the Director of the Office of Management and Budget under President Ronald Reagan. After leaving the White House, Mr Stockman had a 20-year career on Wall Street.
Rather than go into the details of the article, it essentially asserts that the current economic health of the US (and, consequentially, most of the world’s) economy is teetering on collapse and that you shouldn’t believe the “hype” that everything is okay.
Whether Mr Stockman is correct about the coming financial “correction” matters not. It is simply another consequence of allowing money to govern our lives in that we are constantly in a state of anxiety about the next market downturn and worrying about our life savings being wiped away by the next big “crash”. Honestly, what kind of a life is that?
Waiting for the collapse to happen is like how Damocles must have felt sitting under a huge sword suspended only by a single hair of a horse’s tail: Constant fear.
This is essentially the point of this blog: To remind everyone that we do not have to live this way forever and that we have a choice to abandon this way of life before the coming collapse. Let’s not wait to be on the “after” side of a market crash if we can avoid it.
