by Jeff D. Opdyke
The Sovereign Investor
I am not in the mainstream consensus. I know this because the mainstream consensus tells me I’m an idiot. It tells me I’m out of step, square, unhip to the new reality in which stock prices go ever higher evermore. Price doesn’t matter. Logic doesn’t count. Gravity has been suspended — just like it was suspended right before gravity brought down the dot-com bubble and the housing bubble in flames of irony.
Pied pipers are paid to play beautiful songs that lure the gullible to untimely fates. Listen closely, though, and you’ll hear those songs for what they really are: dressed-up dirges as depressing as the lies the pipers peddle.
I believe U.S. stocks are dangerously overvalued. I believe the U.S. economy is a meth head addicted to the narcotic of free money and that the Federal Reserve is dangerously close to an epic crisis (no matter whether it raises or lowers interest rates). And I believe the U.S. dollar has all the strength of a 98-pound weakling strutting around Muscle Beach as though he owns the sand.