It isn’t hard to see how the stock market keeps climbing. The federal government borrows a trillion dollars for a stimulus package or a boondoggle, or it doesn’t matter what it’s for, but the money finds it’s way into the equity market, and it keeps going up.
I used to think that eventually, the shit’s going to hit the fan. In 1988, I bought 10 ounces of gold and stashed it in a safety deposit box. Gold kept dropping and languished below the $430 per ounce I had paid for it. Fourteen years later, I sold at $445 per ounce. I’d made $150.
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