Bargain blue chips are on the way

Am I the only one to have noticed many investors seem to be using heightened uncertainty to suggest a new moral order should prevail?

Many, especially in hedge fund land, seem to be invoking a need for moral cleansing, which involves the developed world getting its ‘house in order’, ‘cracking down on the debt addiction’, and ‘punishing excessive borrowers’. Investors seem to be almost welcoming this state of affairs where debt is bad, and governments are cut radically back down to size. As one hedgie with a predilection for gold told me recently: “The Day of Judgement is near  the time for a gold standard is fast approaching.” Hallelujah! Redemption is near! In fact, I would go as far as to say a new pathology ha...