The Alarmists’ Circle of Mistrust
When I was just getting started in this business, I had a couple mentors (rest their souls) who taught me a lot.
And I’ve learned a great deal from several more since.
But it’s odd sometimes how you don't know how much you’re actually being taught until years later, eh?
And what did they teach me?
Well, one thing was to make sure you’re hanging around people who are genuine influencers, or those who’ve already accomplished the types of things that you want to achieve.
Now, we’ve all heard from these types of folks for our entire lives.
The new media model lives off them. They fill the airwaves covering any topic, always with the same agenda; fear.
They told you expensive oil was bad in 2008, and that the world would end.
Then they told you cheap oil was bad in 2016 and the world would end then too.
When quantitative easing (QE) arrived, they said that was bad as well, and described how the world would go up in an inflationary firestorm and plunge with a crashing dollar.
As for QE2, well, that was going to be even worse.
Brexit? Yep, we should expect the horror show to commence immediately.
And China will rule the planet.
Oh, and they told us North Korea would get nuked, and that the Dow Jones was done in 2009 when it fell to 6700…
And on and on and on.
Folks, alarmists are neither successful nor wealthy.
And they’re never accurate.
By the Way
US GDP has come in better than expected. In fact, it’s absolutely friggin' hilarious, as are the PMI, Retail Sales and Home Purchases:
And then there’s this:
That last one is like an alarmist’s nirvana moment.
For those outside that circle of mistrust we say, “bring them on.” The more robots we have, the more higher paying jobs will be created for those ‘replaced’ by those pesky little creatures.”
Fear is futile. Buckle up instead, my friends.
Embrace the changes that new opportunities are giving rise to.
And don't be swayed by the alarmists.
They have nothing you want or need.
Nor are they something you want to become.