I’ve had one or another mutual fund for more than twenty years, since I was not much more than a kid. Today I cashed out of all of them.
Look at the things that have happened in the short space of time (that has been the tenure of the current president). My stately old bank has become nothing more than an aggressive interstate shylock with good government contacts that help it buy other banks at bargain prices. The most reputable accounting firms spent their reputation in exchange for consultancy cash. Inflation has been a mostly academic concern for so long no one can remember the ruinous effect it has on ordinary life – and it is back. This country no longer produces anything so it has no influence in the world except that of the client or what can be derived from the threat of violence. US Treasury bonds have been seen as perfectly safe from default since before I was born but, it seems, no longer.
To think that I would live to see this. I really don’t know what to do.