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Thank you for a great ride, and for 8 years of support!

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Michael Nystrom's picture


Regarding that second link - about the NSA regularly breaking its rules - I think we've got a slow boil going here, much like the Nixon Watergate scandal. I wasn't there for it - I was only 5. I remember my dad watching it on a tiny black & white TV, and understanding it was grave. There were anchors back then called Harry Drinkwater, and Roger Mudd. What funny names they were to a kindergartner.

But reading back over it, as I've mentioned before, in The Time of Illusion, the Watergate scandal really was a slow boil. Woodward & Bernstein were breaking those stories in the Post for over a year before people really started paying attention.

But somehow, the snowball got rolling. And it coincided with a tremendous bear market (Down 50% overall, if I recall). And a corrupt Fed Chairman (Arthur Burns). And a once-popular president. And an unjust war. And a whistleblower (Daniel Ellsburg). And a long, hot summer. And eventually it all boiled over.

And I just find it fascinating how all the same ingredients are back in place. A little different yes, but substantially the same.

Once this bear market starts rolling - look out.