I had to chuckle at this image posted by Fabrizio Goria on Twitter. It shows the recent market cycle in Europe. In essence, the overarching problem (an unworkable currency system) remains, but they keep papering over the long-term issue with short-term fixes. But inevitably, the long-term disease continues to plague the patient so he keeps relapsing. Rinse, wash, repeat:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.