The only thing worse than being a “loser” is being a “winner.” From MN Gordon at economicprism.com:
We had seen God in his splendors, heard the text that Nature renders. We had reached the naked soul of men.” — Ernest Shackleton
One Essential Insight
Welcome to 2021!
The New Year’s edition of the Economic Prism is a place of wild conjecture. This is where we squint our eyes and peer out 12 months through our proprietary prism and report back what we discover.
Make no mistake, 2021 will be the year where everything under the sun happens precisely as it should. Some good. Some bad. Each day shall unfold before you with reciprocal imbalance. You can bet your bottom dollar on it. But what else?
Will gold top $3,000 per ounce? Will bitcoin hit $100K? What about the S&P 500, the yield on the 10-Year Treasury note, and the price of oil?
Will collateralized loan obligations (CLO) be roiled by mass corporate defaults? Will Walmart run out of toilet paper? Are we fated for complete social distortion? Did WWIII just commence in the South China Sea?
The answers to these questions we’re leaving to you this year. Trust your gut.
After a dismal 2020, and with Joe Biden returning to the White House, we’re eschewing predictions of the 12 months before us. Why bother? The Fed’s already said it will leave interest rates near zero through 2023.
Instead, we’re doing something different. With humility and modesty we’ve zeroed in on one essential insight. Our objective is to provide you something of practical value; something that’ll help you navigate through the 2021 unknown.