Betting the Farm on the Imaginary War, by William Schryver

It’s bad when you believe your own bullshit. It’s even worse when you act on it. From William Schryver at imetatronink.substack.com:

The Highway of Death, Iraq War, 1991

It has now been ten years since I first turned my attention to the necessity of prudent financial investments in order to both preserve and hopefully enlarge the modest amount of wealth I had accumulated up to that time. I began by attempting to identify the wisest and most discerning “experts” in the field. This was no easy trick.

Fortunately, in the ten years preceding my late-2014 awakening to the importance of financial and macroeconomic matters, I had spent several years discovering that most of western academia is a sham dominated by highly credentialled ignoramuses. Therefore I was alerted to the likelihood that the so-called “experts” in other fields of study were similarly intellectually impaired, regardless of their seemingly impressive curricula vitae, how many framed certificates hung on their wall, and the size of their “assets under management”.

That said, it became apparent over time that even those I initially identified as reliable “experts” could be well-informed most of the time, and yet still be subject to blind spots that rendered them susceptible to fatal errors which could often nullify their seemingly correct judgment of everything else.

In the context of financial matters, it must be understood that the “Quantitative Easing” and near-zero interest rates that followed on the heels of the so-called “Great Financial Crisis” of 2007-2009 was a tide that floated a great many boats captained by fools whose folly would not be recognized until the consequences of central bank profligacy were revealed several years further down the road.

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