It's not easy becoming a physician. You have to be at the top of your class in college to get into medical school. Then medical school itself is a pretty big commitment. Of course, I'm one of those crazies who added 7 years of residency training to my education. But by the time you get done with all of that training, you really do get an opportunity to master a body of knowledge. And while medicine is always changing, what we know about human physiology doesn't change much these days—at least the basics. You know that the heart has to keep beating and your brain needs to keep functioning to live. You know that it's better not to be obese and that cigarettes are bad for your health for a myriad of reasons. There is some beauty in knowing the consistencies of the human body—that despite the fact that futuristic medicine is on the way and will change the way we live, the basic knowledge of form and function of the human body remains constant. That makes it easier as a practitioner. Now if you are on the diagnostic side of the economy, it's a little different. What financial diagnosticians, aka economists, use as the core principles to predict the health and well-being of the economy are in flux. The rules are changing rapidly. This has made it much easier to predict the rhythm of the heart than the future pulse of the economy. It used to be that the United States Federal Reserve Bank had two mandates: to maximize employment and to stabilize prices. It typically did not respond to the whims of the financial markets. In other words, if the heart stopped on the New York Stock Exchange, stocks would get crushed and there would be no immediate resuscitative effort by the federal government or the Fed. Now, the rules seem a little different. The Fed artificially suppresses interest rates and responds briskly to any potential downturn. The Fed responds to what's going on in the stock market—emboldening people to continue investing even during the pandemic when it made no sense to have sky-high asset prices. The net result, in my view, is that whatever rules we played by in the past don't matter anymore. It's a free for all. We are living in times characterized by an artificial economy without natural cycles or anything else that you could previously use to forecast its future. And let me be clear, I'm not imposing my ideology here. I'm simply making an observation of the way I believe things actually are. On a recent episode of Wealth Formula, Marin Katusa made the point that as investors, our job is not to be stuck in dogmatic positions because of our beliefs. It is to respond to the reality on the ground. So with this chaotic new economic paradigm, it is interesting to speak to someone from the economic old guard. Dennis Gartman is famous for his Gartman Letters that he consistently wrote since the early 1970s until just recently. In this episode of Wealth Formula Podcast, I discuss what Dennis thinks is going on in the current economy and what his predictions are for the coming years—especially in light of what is an obvious new world economic order. Listen HERE.