You’re a Joke, Barefoot

Barefoot,
 
You are a joke. Telling people to put their money into a savings account while the fake CPI numbers are off the charts with inflation! The real CPI would be unimaginable. Inflation is blatant central banking and governmental theft. Case closed. If you really want to help people, teach them about sound money, like the gold standard. You’re only slightly better than the fake news financial pundits on MSM (mainstream media). Our currency is completely manipulated by the RBA and government policy. FIAT is garage. Stop brainwashing the public with your Keynesian bulldust.
 
Luke
 
Hi Luke,
 
It sure is nice to be back at the crease … and the first ball is a bouncer aimed at old Barefoot’s head!
 
So I’m guessing you made a typo when you said “FIAT (as in government-backed currency) is garage”. I’m sure you meant to write “garbage” but I’m going to run with “garage”, because the savings strategy in the Barefoot Steps is all about having a getaway car ready for when life happens. It’s not about a financial return, but a psychological boost. And it works.
 
Now, let me take a swing at a few of your deliveries:
 
First, gold-bugs like you (and their children, Bitcoin bros) believe it’s only a matter of time before the world goes to hell and we end up with hyperinflation, like in the Weimar Republic in 1920s Germany.
 
And that could end up happening.
 
However, for me, the world is far too complicated to bet on any one binary outcome, much less waste what could be decades of your life waiting around for it.
 
Second, you can live your life believing that the powers that be are manipulating and lying to you.

Yet that’s not a worldview that equates to happiness, sunshine and cupcakes.
 
Finally, since the dawn of time capitalism has worked, and that is the driver of the Barefoot Steps: you systematically save and invest in profitable businesses and hold them for the long term.
 
Is that all too idealistic for you?
 
Maybe.
 
Yet which outlook leads to a more peaceful life?

Scott