For those who are unfamiliar with Zigg, our contrarian friend who shows up at times of extremes, here is a recent conversation with a few of his thoughts. Zigg is of course our mythical friend who has no barriers of speaking and thus always tries to speak his mind candidly.
Zigg told me he has great concerns about Mr. Bernanke and his money printing as he might want to save the printing presses for a REALLY rainy day. Here are a few of Ziggs thoughts:
- The bigger the hole we dig the harder it is to escape (think debt)
- Interest rate vigilantes are watching the US and too much debt may have the exact opposite effect as desired, rising rates rather than firmly lower
- Less is more as even too much of a good thing will cause you to lose reality
Maybe the real reason for Zigg’s less than recent positive view was near the conclusion of our most recent visit, Zigg let it slip that his son had recently graduated college. All through college Zigg had been sending him a nice amount of money on a monthly basis to keep his bills low and overhead down. Apparently Zigg’s son thought this monthly amount was just fine for him as he had grown to expect it, and after graduation directed his old dad to just send the monthly money to his son’s new island. Upon confrontation by Zigg, his son stated it was a troubling economic times and he just thought it better to not change a thing (more QE please.) I did not pry any further into their personal affairs.
We hope you enjoy Zigging while other Zagg and have patience with our parity.
Thanks for reading us this week and have a great weekend!
8222 Douglas Ave Suite 590
Dallas, TX 75225