Chaos is coming (actually, it’s already arrived). From Chris MacIntosh at internationalman.com:
Doug Casey’s Note: There aren’t too many newsletters that I can recommend wholeheartedly. Chris MacIntosh’s is one of the few. It covers the entire investment waterfront, it’s thoughtful and well-written.
Let me add I’m completely on the same page with Chris and his views. I urge you to read what he has to say.
International Man: First, I’d like to introduce Chris MacIntosh.
After working for many top-tier investment banks, Chris left the corporate world. He has since built and sold multiple million-dollar businesses, built a VC firm allocating $35m into early-stage ventures, and become a full-time trader.
He now manages money for clients of Glenorchy Capital; a macro focused hedge fund. Chris is the founder of Capitalist Exploits, with its flagship investment subscription letter called Insider.
Alright, let’s get into our discussion.
Chris, the government’s response to Covid-19 has unleashed an unprecedented amount of economic destruction around the world.
In the US alone, tens of millions of people are now unemployed. The government-ordered shutdowns have decimated many businesses. The Fed has printed more money out of thin air in just the last couple of months than it has for its entire 107-year existence.
From your perspective, what’s going on here, and what trends do you see taking shape?
Chris MacIntosh: There is quite a bit to unpack on that.
If we go back to before the global lockdowns began in February, Western governments were in debt to an extent where it would have been impossible to repay. That’s just a fact that can be proven with mathematical certainty.
So, we went into this crisis—and this is not a crisis, as it is currently being portrayed as an existential threat. For anybody who looks at the data, you can understand that this is largely a big “nothing burger” for what the virus itself is.