The Next Generation Deserves an Apology, by Matthew Piepenburg

This article sounds like Repudiation. What happens when the next generations realize how badly they’ve been screwed? From Matthew Piepenburg at vongreyerz.gold:

I spend a lot of time tracking the ripple effects of embarrassing and unsustainable debt levels on our credit markets, rate markets, equity bubbles, inflation metrics and, of course, the daily-debasement of our currency’s inherent purchasing power.

Inevitably, I round that all up with the role precious metals play in insuring against the same.

But there’s more to debt than gold and other financial conversations.

We All Cherish Our Children’s Future

Global and national debt forces have a ripple effect on far more than portfolio returns; they affect our kids.

For anyone blessed to parent a child, there is no greater love, no greater joy nor any greater vulnerability and source for endless concern.

This is intuitive, axiomatic and universal. As John Kennedy said (hauntingly) just weeks before his own death in 1963:

“For, in the final analysis, our most basic link is that we all inhabit this small planet. We all breathe the same air. We all cherish our children’s future. And we are all mortal.”

But what does cherishing our children’s future have to do with the current state of the global and financial markets?

Invisible and Visible Forces

Love for family, friends and partners of all stripes (despite its painful lessons, mistakes and contradictions) is the most important yet invisible wealth. As Saint-Exupery’s Little Prince reminds, “the essential is invisible.”

But there are other invisible forces, from politics to inflation, which have a direct bearing on our collective well-being from one generation to the next.

And if we were to pause to reflect on the hard math of unprecedented debt, openly (criminally?) failed monetary policies and a US-lead global economy falling to its knees in deficits and the concomitant currency destruction which always follows, it would seem, at least at an “economic” level, that we and our leadership do not hold a very high regard for, well—our children…

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