In a RealVision interview released this week (subscriber access only) economist and money manager, A. Gary Shilling, accused the Federal Reserve and Treasury of pumping up asset prices, dismissed fears of higher inflation and urged investors to resist joining the buying frenzy:
“We had a wake-up call with the pandemic. It’s time to save money, to be cautious, and certainly investment-wise, to avoid speculation. It’s very hard when everybody is making money and you feel, ‘Oh, am I missing out? There’s this garage mechanic, who is no longer fixing cars because he’s making so much money in GameStop. I’m a stupid idiot, why aren’t I involved?’ Well, there are times where you really have to just pluck up your courage and say, ‘No, I don’t want to be involved.'”
See this print article of Shilling’s 10 best quotes, lightly edited and condensed for clarity.
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