Some words of financial wisdom from Bill Fleckenstein.
America is now well down the path of trying to print its way to prosperity. Of course, the reason we are trying to print our way to prosperity is because initially, in the late 1990s, we tried to speculate our way to prosperity via the stock bubble. After that didn’t work, we attempted to borrow our way to prosperity during the real-estate bubble.
Those two bubbles ended in the epic disaster of today. Now the United States and other countries will attempt to print their way to prosperity, which also won’t work.
But we are in the early stages of papering the world with dollar confetti, and it’s unlikely to “not work” just yet.
