Update: We have published Happy Idiots - December 2019!
The obliquity with which the world is viewed by investors today is only surpassed by the recklessness of the Federal Reserve, the corruption of our political leaders, and the imbecility of our media. As we near the end of another year, one can only look at the world with exhaustion and ask how we can possibly think the world is headed in a positive direction. The New York Times’ columnist Bret Stephens describes the current state of affairs far better than I can:
“[W]e’ve been living in a country undergoing its own dismal process of Ukrainianization: of treating fictions as facts; and propaganda as journalism; and political opponents as criminals; and political offices as business ventures; and personal relatives as diplomatic representatives; and legal fixers as shadow cabinet members; and extortion as foreign policy; and toadyism as patriotism; and fellow citizens as ‘human scum’; and mortal enemies as long-lost friends – and then acting as if all of this is perfectly normal. This is more than a high crime. It’s a clear and present danger to our security, institutions, and moral hygiene.”
Mr. Stephens’ description is aimed at President Trump but just as easily applies to his political opponents who breach the norms of violated governance and decency themselves. The choice between Trump and Clinton was merely a choice between different flavors of corruption.