Almost every day, people ask what I think about the state of the economy and what investors can do about it.
Plenty of people believe our financial and political systems are broken, run by leaders who have committed fraud, at least indirectly, and who cannot fix things without giving up their gains, relinquishing their power and possibly implicating themselves.
I believe this has been true for hundreds of years. We are just more aware of it today.
Personally, I have no doubt that we are heading for a severe decline that will do major damage to our financial system. I don’t know when it will happen or how it will play out. Will it take a year? A decade? A century?
There’s no way to know, but I believe there is a reasonable chance it will happen in my lifetime. And I think it’s close to a sure thing in my kids’ lives.