The Mogambo Guru on the stock market:
(I agree with him 100%, by the way)


As a result of the latest failure of a fiat money that has resulted in ruination, just like all the other experiments with a fiat money have ended in failure for the last 2,000 years, the S&P500 is now down to where it was in 1997, which is 11 long years ago, which means that everybody who bought the shares of the S&P500 since 1997 has lost money both in nominal terms (since the price of the shares has gone down), but also more in real, inflation-adjusted terms, because in the meantime the U.S. dollar has declined in value by about 60%, meaning that everybody who was stupid enough to think that they would make a profit by "buying and holding" stocks over the long-term has now lost 60% of their buying power! Hahaha! Morons!

Once again, the overwhelming majority of schools that teach economics, or any other scientific discipline for that matter, never even noticed that it is mathematically impossible for the majority of investors to make real, inflation-adjusted money by investing! Everybody puts one dollar into the market and then everybody takes two dollars out? It's insane!

It's so obvious, and yet almost nobody ever said, "Hey! This 'universal investing for retirement' is the stupidest Ponzi-scheme crap I ever heard of, at least for the majority of investors, and sometimes, like now, for all investors! We must be morons!"

What can I do except laugh scornfully, "Hahaha! Yes, you are morons!"

Agreed!