We have already stated the high regard that we hold for Jared Dillian and his literacy works. However, a Bloomberg message that he sent to his clients stands out to being particularly relevant to the current economic state in Europe and the US.
In 2008, Jared delivered this thought provoking email to his clients
….deja vu…you decide.
We all know a slowdown is coming…..
….as we have learnt so many times before, optimism is not optimum. Someone just needs to let the Politicians know.
"The only rational thing to do here is buy everything that isn't nailed down. Buy Oil. Buy Gold. Buy Wheat, Corn, and Beans. Buy Copper, Lead, and Tim. Buy the whole damn commodity index. Buy it until your head caves in. Buy EUR, CAD, AUD, and NZD, and finance it by selling the Bolivar, er, I mean the Dollar. Buy GE, MSFT, PFE, XOM, and CISCO. Buy the SPX, buy the NDX. Buy the S15HOME, Sell puts on homebuilders and use the proceeds to buy a house. Buy POT. Buy AGU. Buy several 50 pounds of Fertliser and keep them in your basement. Buy 100 Propane bottles at a Home Depot. Buy Home Depot, home equity loans are back in style. Buy a Ball-Peen Hammer. Buy an Air Compressor. Buy a Cheese Grater. Buy a German Shepherd. Buy a Racehorse named "Currency Debasement". Buy one of those things you shake up and it snows inside. Buy a Baseball team. Buy the Washington Nationals and rename them "Dirtnaps". Buy Maddonna's Ray of Light. We are living in a Nominal World, I am a Material Girl. Buy a Website, A Banking Licence, and start Selling Mortgages. Buy a Dancing Alien in a Bikini. Buy Scrap Metal. Buy my class ring and smell it. Buy Gillette Fusion and 20 years supply of razor blades. Buy a Gravel Truck. Buy all the Village People Costumes. Buy the Barry Bonds 756 Ball, brand it with an Asterisk and send it out into space. Buy several copies of Atlas Shrugged and send them to the House and Senate Finance Committees. Buy Farmland. Buy Dirt. Buy every last freakin' element in the Periodic Table. Buy a Particle Accelerator. Buy the Chunnel. Buy Litchenstein. Buy a Commercial Fishing Permit and exploit one of God's creations. Buy a Lenny's Sandwich Shop. Buy a Spool of Networking Cable. Buy me something nice for Christmas.