Jim Rickards, bestselling author and tireless gold bug, has seen just about everything over his four decades navigating capital markets. What he hasn’t seen, however, is a better climate for a market “catastrophe” than the one we’re in now.
‘The worst panics are always preceded by a sense that nothing can go wrong. We are there again… It’s all good. What, me worry?
Rickards, who long ago also served as general counsel for collapsed hedge fund Long-Term Capital Management, says that mass complacency and euphoria has always been a recipe for historic meltdowns.
He points out that stocks are near all-time highs, the bond market bust hasn’t happened, mortgage rates are hovering around multidecade lows, the jobs market is solid, ISIS