Friday, October 28, 2016

Marc Faber Thinks Correctly

Obvious point, well-couched:
Paper money, in general, can then collapse, and it has to a large extent against asset prices like real estate around the world over the last 30 years, against equity prices, against bond prices—which have been rallying since 1981—and against precious metals since 1999.
Asset price inflation is less obvious to the average person in the street. The average American has no money, so he doesn’t care if prices for paintings and real estate go up—until it touches him.
He played the game of an investor, and has done extremely well.  And here is the problem, what he did was valid (it worked) but is unreliable (it does not work for others).  Nonetheless the world is sinking with people trying to make a living on investments (or protect there ex nihilo credit tallies) when it cannot be done.  Read Nassim Taleb on survivorship bias, and that explains Buffett, Soros, Faber etc... and they know it.

There are no doubt a couple of people marketing and making money on the internet, and those would be valid (I haven't seen them) but they are not reliable, they cannot be copied.

What can be copied is process, which is what I teach, and the content is the individual.  And if the content is lacking, ahem, the process feedback becomes a personal transformation engine. That is important, but the real importance of self-employment is the authentic economy it builds, with the concomitant peace, justice and prosperity.  There is no other means to achieve that.

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