Ray Dalio Is Today's Market Hagelslag
When I was a kid, my Oma would always make me the Dutch treat of hagelslag whenever I felt down in the dumps. It's essentially untoasted white bread with as much butter as you can stand with some chocolate sprinkles on top. It's the most delicious thing in the world for a child to eat. No matter their mood they will instantly forget whatever they were so emotional about the instant before.
So have some hagelslag, stock market! It'll do you some good.
Now doesn't that feel better, Dow and Nasdaq?
"But," you say, "@shanghaipreneur, we are down triple digits again today, what could possibly be 'market hagelslag' (whatever the fuck that is you crazy old man)?"
Well, I have news for you! The market hagelslag today, my friends, would be the comments of Ray Dalio, definitely a guy that I would classify as way way way smarter than me.
He's a Harvard MBA that has written a few books that I highly recommend, most recently Principles and A Template for Understanding Big Debt Crises. He's worth about $20 billion and he's made nearly all of it off of fees earned managing other people's money (OPM) at the firm he founded in Connecticut back in 1975.
He's been a pretty outspoken bear for the second half of this Trump rally. But now Dalio claims that China is “a comparable power of the United States.”
Yes, that China, the one whose currency depreciation has been killing the stock market this week.
Dalio goes on to say, “Would you have not wanted to invest with the Dutch in the Dutch empire? Would you have not wanted to invest in the industrial revolution and the British Empire? Would you have not wanted to invest in the United States and the United States empire? I think it's comparable.”
The head of Bridgewater Associates concludes, “In a nutshell, it's going to have the largest economy in the world, the most trade in the world, the most market capitalization in the world... now is the time” to invest.
So calm down, everyone.
Have you tried these chocolate sprinkles?
I definitely agree with you and Dalio. There's plenty of evidence that capitalism is not working properly or effectively, and that it is indeed broken.
It's unsettling how some people equate a ballooning stock market bubble with a vibrant economy. And disturbing that they then tell us that we have nothing to worry about, cuz everything's fine. It aint fine, and a major crash / collapse is coming. Soon.
As for that hagelslag, I'm surprised you ate it on plain bread. We often toasted our bread first, meaning that the butter would melt, along with some of the hagelslag, making a delicious creamy topping. And hagelslag on ice cream is another real treat.
But the thing I miss most is .... Dutch salted licorice / dropjes. MMMmmmmm.
My dad craved that stuff. I couldn’t stand it. Speculaas for the win though!
Definitely time to move into defense mode. There will be some great opportunities for those that are ready.
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I was born and raised in Canada, of Dutch immigrant parents, in a community of Dutch immigrants. Hagelslag, speculaas cookies, gouda cheese, edam cheese, and salted licorice were frequent treats.
We imported that stuff for Sinterklaas. Chocolate letters, boterkoek, amandelstaaf, the works!
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