And yet another year has passed without the market failures predicted by most of the gold bugs (self included). So many economic indicators showing growth, higher employment, even a rise in iterest rates, which in the old days was used to cool off an overheated economy.

Yet people dropping out of the labour force is not the same as job creation, increases in necessities while luxury items drop is not the same as price stability and the amount of government, business and consumer debt does not lend itself to growth or more importantly a solution if another crash does occur.

Strained welfare systems, food stamps, high unemployment amongst youth and student debt does not bode well for those hoping to enter the workforce or those underemployed as they seek a career.

The decreased standard of living for near everyone (except the much less than 1% and those elected or appointed or hired as government consultants) continues to insidiously permeate the collective mindset and to think the worst is not yet to come seems pretty unrealistic.

It has been a number of years I have predicted a crash, however I have been wrong and hope to continue to be. I do believe I wrote some time ago that all of the pundits who predicted a major decline would be made to look foolish ... so far that is the only thing I probably have gotten right.

I wish the few readers who remain in this group a healthy and prosperous new year and remain hopeful I am again wrong, I do think 2016 will be the year of reckining, but it could also take another 10 years.

orgy