Jeff, 3 weeks later and Russia/Ukraine in the mix, you still feel STFR is appropriate? Obviously individuals circumstances and needs vary, but in general are you still feeling the same? Thx.
I am still sell the f'ing rips. No reason to buy. Are stocks cheap? No. Inflation stopping? No. Biden showing any sense of capability? No. Putin stopping? No.
True, 1861. Lincoln elected November of 1860, so the fate was sealed then. Will have to see if I can watch that series. Free to Choose was a book I read and watched post MBA at Chicago. I love how Friedman took very difficult concepts and distilled them into ways even marginally intelligent people could understand. You didn't have to be smart to get it.
Didn't mean to pick a nit. By all means, make the time to watch "How Shall We Then Live". It is available from time to time at Prime. I was first exposed to it as a freshman at Oral Roberts University in 1978. Along with Bill Gothard's "Seminar in Basic Youth Conflicts" really helped me understand the why behind my faith. Was hugely instrumental in helping me form my world view. Lot's of wisdom, kind of like your blog:).
In fact, regarding "How Shall...", I would recommend you doing it with like minded folks, watch one episode a week and then discuss what you have watched.
If you are ever in Denver or passing thru, we would love to host you and your wife and whomever else in our home for a meal.
One last thing on influencers. I also watched "Free To Choose", but I think it was at Oklahoma Baptist or after college, don't remember. But an even clearer thinker and writer than MF (if that is possible) is Thomas Sowell. Any of his 45ish books are a joy to pick up and read.
Did you know that TS has had ten (10!!!_ books published after he turned 80 years of age? Try and find the episode of "Uncommon Knowledge" by Peter Robinson where he interviews Sowell. Awesome stuff.
"Virtually everything and people in the know told us the price won’t go down ever again. It might stabilize, might go up, but it’s not going down. Faucets are not gasoline."
This is the part that I think is lost on most Americas that were not around in the late 70s and early 80s. Hearing reporters say things like "it's hard to know when prices will return to normal" makes me chuckle as quietly reply "uh, never". Sure, your gas and some commodity prices will moderate but that won't translate to consumer goods that people need to buy week in and week out.
The cost of an existing house goes up, simply because the stuff inside it is so much more expensive to replace. Government's answer will be to subsidize housing, which will make costs go up even more.
Hi Jeff, I'm with you that the daily chart looks ominous. But the weekly and monthly SPY are currently nothing to fret and so far this is a garden variety correction. The 420 level needs to be cleared and the weekly and monthly's need to establish down trends or a pullback is just going to be bought eventually. The long term time frame buyers need to be whooped good, a la like with FB. They have ruled the roost for a long time. I wish your friend Brian would look beyond just daily charts some. Thanks and glad to hear that your remodel is done!
Agree on the fact that it is a correction and NOT a full blown crash. Still think it's a bear though and you will make more money selling the rip than buying the dip
Yes, probably selling upside zones probably a good thing, appreciate your analysis. Speaking of which, I totally agree with you re: bitcoin -- selling highs there golden. Sorry to jinx anything in advance, ha. Have to give it credit to sew together a massive whip zone versus totally tanking into the slag heap along the lines of what silver accomplished. It if does not get killed back to 10k eventually, I'll eat my hat. Let's go brandon!
Jeff, 3 weeks later and Russia/Ukraine in the mix, you still feel STFR is appropriate? Obviously individuals circumstances and needs vary, but in general are you still feeling the same? Thx.
I am still sell the f'ing rips. No reason to buy. Are stocks cheap? No. Inflation stopping? No. Biden showing any sense of capability? No. Putin stopping? No.
1861, April. You should be more precise and careful. But I do love your blog.
Going to start my own. Thinking of calling it "How Shall We Then Live" in tribute to the great Francis Schaeffer.
His film series of the same name had a HUGE influence on my life and how I viewed the world.
True, 1861. Lincoln elected November of 1860, so the fate was sealed then. Will have to see if I can watch that series. Free to Choose was a book I read and watched post MBA at Chicago. I love how Friedman took very difficult concepts and distilled them into ways even marginally intelligent people could understand. You didn't have to be smart to get it.
Didn't mean to pick a nit. By all means, make the time to watch "How Shall We Then Live". It is available from time to time at Prime. I was first exposed to it as a freshman at Oral Roberts University in 1978. Along with Bill Gothard's "Seminar in Basic Youth Conflicts" really helped me understand the why behind my faith. Was hugely instrumental in helping me form my world view. Lot's of wisdom, kind of like your blog:).
In fact, regarding "How Shall...", I would recommend you doing it with like minded folks, watch one episode a week and then discuss what you have watched.
If you are ever in Denver or passing thru, we would love to host you and your wife and whomever else in our home for a meal.
One last thing on influencers. I also watched "Free To Choose", but I think it was at Oklahoma Baptist or after college, don't remember. But an even clearer thinker and writer than MF (if that is possible) is Thomas Sowell. Any of his 45ish books are a joy to pick up and read.
Did you know that TS has had ten (10!!!_ books published after he turned 80 years of age? Try and find the episode of "Uncommon Knowledge" by Peter Robinson where he interviews Sowell. Awesome stuff.
"Virtually everything and people in the know told us the price won’t go down ever again. It might stabilize, might go up, but it’s not going down. Faucets are not gasoline."
This is the part that I think is lost on most Americas that were not around in the late 70s and early 80s. Hearing reporters say things like "it's hard to know when prices will return to normal" makes me chuckle as quietly reply "uh, never". Sure, your gas and some commodity prices will moderate but that won't translate to consumer goods that people need to buy week in and week out.
The cost of an existing house goes up, simply because the stuff inside it is so much more expensive to replace. Government's answer will be to subsidize housing, which will make costs go up even more.
Our total debt isn't just the headline $30T, but also social security, medicare, and government pensions
Hi Jeff, I'm with you that the daily chart looks ominous. But the weekly and monthly SPY are currently nothing to fret and so far this is a garden variety correction. The 420 level needs to be cleared and the weekly and monthly's need to establish down trends or a pullback is just going to be bought eventually. The long term time frame buyers need to be whooped good, a la like with FB. They have ruled the roost for a long time. I wish your friend Brian would look beyond just daily charts some. Thanks and glad to hear that your remodel is done!
Agree on the fact that it is a correction and NOT a full blown crash. Still think it's a bear though and you will make more money selling the rip than buying the dip
Yes, probably selling upside zones probably a good thing, appreciate your analysis. Speaking of which, I totally agree with you re: bitcoin -- selling highs there golden. Sorry to jinx anything in advance, ha. Have to give it credit to sew together a massive whip zone versus totally tanking into the slag heap along the lines of what silver accomplished. It if does not get killed back to 10k eventually, I'll eat my hat. Let's go brandon!