140 - A Dire Prediction With a Massive Miss

At the height of the pandemic recession, a June 22, 2020, headline in The Capitalist.com caught my eye: “Dollar Will Plunge 35%, Lose Status as World Reserve Currency.” This was quoting Stephen Roach, a senior fellow at Yale University and the former chairman of Morgan Stanley Asia, someone who is well respected by his peers. As it turned out, he was wrong and some who followed his advice lost millions. Why are vulnerable parts of us with “unfinished business: so susceptible to followin...