Doug Casey: The Energy Crisis is Just Beginning
Tom welcomes back a man who should need no introduction, Doug Casey. Doug is a libertarian philosopher, speculator, and author.
Doug believes the economy is on the ragged edge of collapse and things are starting to get serious. Currently, he is spending much of his time between the U.S. and Latin America.
The people drawn to government positions are typically those that like to control and manipulate others. Crisis are used as opportunities for those in power and the next set of problems will be very serious economically. It’s said that the average American can’t find a spare 500 dollars, and most are heavily in debt. The people will look for a savior in the coming collapse and a sociopath will take advantage. We’re in a scary situation.
The level of freedom in the world for the average person has been gradually diminishing. A hundred years ago, governments ran on a trivial amounts of the GDP, largely import duties. Since then, all have become behemoths and control their economies excessively. Most countries have VAT taxes over 10 percent. Today you need approval for everything and anything not mandatory is likely prohibited.
National debts are now being sold to their respective central banks via direct printing of money. This is why inflation is exploding since they’ve increased the money supply massively. Debts are dangerous as most people today are borrowing from their future selves.
Equities and bonds are both in mania phases. When bonds begin to collapse things get much more serious. Right now we would need returns of over 10% just to mitigate inflation. Pension funds will go bust and local governments will go bankrupt while raising taxes. Gold is the only alternative because it’s not someone else’s liability.
Doug believes the place to me is in the gold miners along with uranium and most commodities. You can’t be a saver or investor in this environment. You should consider speculating on mining stocks but it’s a crappy business. The problem with mining today is the cost and regulations. When you find gold that’s when your problems are just getting started. However, if the world doesn’t have mining we won’t have anything.
Doug discusses the energy markets and the problems being created by green energy policies. Prices seem certain to continue to rise and then normalize. There are no easy ways out of this energy crisis.
The causes of the Ukraine conflict are based on U.S. foreign policy and Russia’s reaction is understandable. Largely the conflict is and should be none of our business. Ukraine remains one of the most corrupt countries and all we hear in the media is one side of the story.
A lot of commodities including grain, fertilizer, and energy come from Russia and Ukraine. This is a big problem.
Talking Points From This Episode
- Outlook for the economy and the ever-encroaching government overreach into personal lives.
- Bubbles, equities, and why bonds are the biggest bubble.
- Importance of speculating in commodities, uranium, and miners.
- The collapse of empire and the effects on society.
Time Stamp References:
0:00 – Introduction
0:48 – Travel & Globalism
2:57 – Crisis & Fear
6:02 – The Freedom Gap
8:15 – Debts, Deficits & Bad Times
11:10 – Speculation & Risk
16:24 – Investing Vs. Speculating
21:06 – Crisis Investing
25:00 – Energy & Nat. Gas
30:18 – Empire & Collapse
37:58 – Consequences
38:37 – The Ukraine Conflict?
44:03 – China & Taiwan
45:45 – Educating Yourself
47:10 – Wrap Up
Amazon Books: https://tinyurl.com/an3uxhc
Best-selling author, world-renowned speculator, and libertarian philosopher Doug Casey has garnered a well-earned reputation for his erudite (and often controversial) insights into politics, economics, and investment markets. Doug is widely respected as one of the preeminent authorities on “rational speculation,”, especially in the high-potential natural resource sector. Doug’s most recent book, “Assassin,” can be found on Amazon.
He has been a featured guest on hundreds of radio and TV shows, including David Letterman, Merv Griffin, Charlie Rose, Phil Donahue, Regis Philbin, Maury Povich, NBC News, and CNN; has been the topic of numerous features in periodicals such as Time, Forbes, People, and the Washington Post. Doug has lived in 10 countries and visited over 175. Today you’re most likely to find him at La Estancia de Cafayate (Casey’s Gulch), an oasis tucked away in the high red mountains outside Salta, Argentina.