Submitted by QTR's Fringe Finance
"There exists in society a very special class of persons that I have always referred to as the Believers. These are folks who have chosen to accept a certain religion, philosophy, theory, idea or notion and cling to that belief regardless of any evidence that might, for anyone else, bring it into doubt. They are the ones who encourage and support the fanatics and the frauds of any given age. No amount of evidence, no matter how strong, will bring them any enlightenment. They are the sheep who beg to be fleeced and butchered, and who will battle fiercely to preserve their right to be victimized."
- James Randi
One thing I’ve noticed over the last several weeks is that the more I stick to basic questions, basic economics, and basic skepticism, the more people accuse me of being a “doomer”.
That tells me far more about the environment we’re in than it does about myself. The foundation to my economic views hasn’t changed all that much over the years. What’s changed is the backdrop against which those views are being expressed. When you’re living through one of the most euphoric investing environments in modern history, ordinary skepticism suddenly reads like blistering, outright nihilism.
Apparently it’s now considered bearish extremism to point out that a company says one thing and then does another. It’s “FUD” to ask whether a proposed $2 trillion IPO valuation for a compa
