Before the Last Snowflake Drops
We’ve been wondering how long Wall Street will keep brushing off the bad news to bid stocks to new highs. As Jim Rickards has said, it’s like the markets are constantly getting buried in bad news, much like a snow storm. At some point, the negatives will get too heavy to ignore. When it does, even what would ordinarily be considered trivial bad news — a single snowflake, if you will — could trigger an avalanche.
That day of reckoning seems close. But that’s just the thing. No one knows in what shape, whence or when the next snowfall will arrive. We’ve been focusing on places to park your money outside of your brokerage account — and still have a good shot at decent returns. The time to act is before calamity hits, not when.