Worldview Investing - Ruminations on the World Economy

We are not predicting an imminent financial crisis.  But what has transpired over the last decade ensures that we will suffer major pain at some point. It is difficult to wrap one’s arms around what has happened since the 2008 sub-prime mortgage debacle.  But what has happened during just the last year is astonishing.  If you tally up all the money the Fed has  ever printed , over 40% of it was printed in 2020. 

We are all familiar with the aphorism that, “those who do not know history are doomed to repeat it.” But even those who do know history are often doomed because they convince themselves that “this time is different.” Some events occur infrequently, so we are repeatedly surprised by and unprepared for them, like recessions, pandemics, and social unrest.