Doug Casey: "the entire country has been greatly over-financialized

The entire country has been greatly over-financialized.  It's all about credit and manipulating interest rates and propping up the bond market and floating government debt and so forth.  In a stable, capitalist, free market society, people produce and they consume and they save, but it's not a question of, "Hello, New York, buy.  Hello, Chicago, buy.  Hello, Los Angeles, sell."  Watching the screen all day...  People aren't producing as opposed to gambling.  And as inflation gets out of control, which it will, they're going to be forced to try to speculate to stay ahead of the destruction of their money.  And after a while it becomes no point in saving because your savings vanish before your very eyes.  And that destroys the actual structure of society.  This is much more serious than the talking heads mention on TV.

~ Doug Casey, interview with Dan Ferris, Stansberry Investor Hour, 35:15 mark, July 11, 2022