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Great stuff as always Rusty. I had this discussion/argument with my kid brother. He’s all in because’ they will save it because they have to " Time will tell.
Also, you have to know that you can’t reference your green chili pork stew without a link to the recipe!
Clear eyes, full hearts, and make, protect, teach!! Words to live by!
Avoid tireless self-promoters and sociopaths! Words to lose by!!
Choose wisely.
Hard to believe that over the long run that Government efforts to control the financial markets " to give us the returns we need" will do anything good.
Economic malaise, increasing wealth disparity and political discontent surely will follow.
Disturbing
Thanks, Farmer Don.
OK. No links, but here’s roughly what I do:
This recipe may be worth the whole price of subscription. I’m still dream of the Wagyu brisket you served that last summer’s ET gathering (which as I think about it, feels like a million years ago!)
Outstanding! I always love recipes that start : first, pour four ounces of wine in the cook
Great work Rusty , this note fits in so well with the concept of the long now. You wonder how much longer future returns can be pulled forward? I think the total return on treasury bonds has to be nearly maxed out , unless of course, we go deep into negative territory. With less total return coming from that pool , I can only imagine the pressure to keep the equity markets rising as we go forward. I think of the insurance companies and their reserves? How do they keep the promises made with 0 returns? All roads lead to ruin it seems.
The over/ under on the FEDs balance sheet on the other side of this is 9 trillion IMO.
The debt 30 trillion?
Unfunded Liabilities another 80 trillion?
Then a missionary comes along and tells us all what we already now --that the real inflation rate is 7-8%. Then it gets UGLY!
Randy, having grown up 200 yards from a cornfield in Morton, Illinois and a two time Pumpkin Festival pie eating contest winner …I’m curious about your Central Illinois roots. Thanks
Minooka, which was maybe 2,000 people back then.
Come on Rusty, that’s not central Illinois! That’s a suburb of Chicago…
Ya gotta be in spittin distance of Decatur and the great Staley and ADM corn and soybean processing plants to claim central Illinois. Nearby Shelbyville was my hometown, and spent a few summers detasseling corn, baling hay and walking beans, among other mundane “downstate” activities. With the way things are going, may be good skills to have in the future!