Everything is looking good for the US of A! Or is it?
The dollar – up.
Auto sales – up.
House prices – up.
Consumer confidence – up.
Consumer credit – up.
Stocks – up.
Let’s see. Where are we?
Dow up 88 yesterday. Gold up $22.
What’s pushing up the Dow? A lot of chatter about a “new American century”… and an apparent recovery.
You know our position: Recovery isn’t possible. Drug addicts do not recover by taking more drugs. They may get high again… but that’s a different story.
The Fed’s EZ money policies will either succeed or fail. Either way, it will be a disaster.
If they succeed, interest rates will rise… and America’s debt-addicted economy will get the shakes.
If they fail, the Fed will double down with further acts of reckless improvisation – including bigger doses of credit – until the whole thing blows up.
Today, I want to do something a little unusual…
I want to tell you why I’ve set up something called a “family office.”
Family offices have for hundreds of years been protecting and growing family wealth, based on a number of unique long-term investment strategies.