Doom mongers are two a penny they always have been and always will. In inflationary times they now seem to be four a penny – just about the only thing you get more of!
The thing about the doom-mongers is that they are, on average, wrong. The evidence is simple – the world continues to get wealthier and healthier despite its travails.
However, doom-mongery is not some idle past time. Regrettably it leads people to make bad decisions, especially when it comes to their money.
At some point every doom monger has their day. Like a broken clock they are bound to be right one day. But will that day make up for all the profits you missed out on in the meantime? Almost certainly not but you won’t care and in an instant, you will have forgotten all the days they were wrong.
The doom mongers are convincing, nothing sells better than fear. Their modus operandi is simple – dream up a scary theory, look for evidence that supports it (there is always evidence) and ignore anything that does not.
Hardly a scientific or evidenced based approach, is it? A scientific approach would require the search for evidence that does not support the theory. The lack of that evidence then proves the theory.
Or not, in the case of our investing doom mongers who have little interest in proving anything rendering their assertions and theories as little more than ill thought out, badly supported opinions.
Based on that I wouldn’t pay any heed whatsoever to such mad ramblings, let alone act on them.