Daily Reckoning

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  • 5 Doubt-Killers to Keep You Sharp

    5 Doubt-Killers to Keep You Sharp

    This post 5 Doubt-Killers to Keep You Sharp appeared first on Daily Reckoning. Most of us know the story of Chicken Little, who ran around the barnyard crying out about impending doom after an acorn fell on her head. In the story, the sky is not falling, of course, but to Chicken Little, facts didn’t matter. Rather than investigate and learn what was happening, Chicken Little panicked and spread her fear to others. All of us know Chicken Littles—the classic cynic and panicker. And, if we’re honest, we all have an inner Chicken Little who comes out in the face of fear and doubt. We hear noise around us from friends, family, co-workers, and the media, and we tend to succumb to it because of all that clucking. The latest dip in the market has a lot of chicken littles clucking right now, “See I told you now wasn’t the right time to invest.” If you have any hope of being rich, you must learn to overcome this cynicism in your life. Cynics never win. They are do-nothing alarmists who spend their time spreading fear. In my investment classes, there is always a cynic or doubter of the idea that …Read More »
  • Dow 40,000 After “Large Panic Event?”

    Dow 40,000 After “Large Panic Event?”

    This post Dow 40,000 After “Large Panic Event?” appeared first on Daily Reckoning. Dow 40,000? Yes, says the man who in 2016 predicted Dow 25,000. But there is a “catch,” this fellow warns. What catch… when can you expect 40,000… and what earthly force could propel the Dow to such preposterous heights? Answers anon. But first a progress report… Our agents inform us that last week’s thunder and lightning broke the bullish trend line that has held since 2016. The big question today was if stocks could carry over Friday’s momentum, when the Dow Jones rebounded 287 points. As Investor’s Business Daily reminds us: “For a confirmed stock market uptrend, the major averages must rise over several days.” Could they keep the steam up today? The Dow Jones was the little engine that couldn’t… then could… and finally couldn’t. It closed the day down 89 points. The S&P was down 16. The Nasdaq sank no less than 66 points. Will things get worse? The Fed Has Blocked off Every Southbound Lane on the Road to Price Discovery “It’s hard to say for certain,” hedges Chris Martenson, co-author at PeakProsperity.com. “But the systemic cracks we’ve been closely monitoring,” he warns, “definitely …Read More »
  • 3 Investment Myths Holding You Back

    3 Investment Myths Holding You Back

    This post 3 Investment Myths Holding You Back appeared first on Daily Reckoning. People think investing is risky. When I was growing up, my poor dad believed this. Because he valued comfort and security, he felt that smart people got a good job and saved their money. He would say things like, “Do you think money grows on trees?” or “Do you think I’m made of money?” My rich dad, on the other hand, felt that my poor dad’s plan was risky. He aspired to own his own businesses and to invest his money rather than save it. He would say things like, ““Don’t worry about money. If we do the right things, there will always be plenty of money. Don’t let not having money be an excuse for not getting what you want.” As a young man, I had to decide for myself who was correct, my poor dad or my rich dad. It was not an easy decision. Both men were confident in their opinions, but after much questioning and study—as well as an understanding of what I wanted in life—it was clear that my rich dad’s path was the path for me. As you can imagine, I’ve …Read More »
  • 4 Pillars of Debt in Danger of Collapse

    4 Pillars of Debt in Danger of Collapse

    This post 4 Pillars of Debt in Danger of Collapse appeared first on Daily Reckoning. Last month I was in a series of high-level meetings with members of Congress and the Senate in Washington. While there’s been major news about the Supreme Court, my discussions were on something that both sides of the aisle are coming to consensus over. You see, issues that impact your own bottom line are way more about economics than they are about politics. On Capitol Hill, leaders know that. They also know that voters react to what impacts their money. That’s why, behind the scenes, I’ve been discussing issues focused on protecting the economy. Behind closed doors, we’ve been working on how to shield the economy from Too Big to Fail banks and how the U.S. can better fund infrastructure projects. These are initiatives that all politicians should care about. Underneath the surface of the economy is a financial system that is heavily influenced by the Federal Reserve. That’s why political figures and the media alike have all tried to understand what direction the system is headed. Also last week I joined Fox Business at their headquarters to discuss the economy, the Fed and what …Read More »
  • Learn How to Earn… and Actually Keep Your Earnings

    Learn How to Earn… and Actually Keep Your Earnings

    This post Learn How to Earn… and Actually Keep Your Earnings appeared first on Daily Reckoning. In the U.S. we are obsessed with football—the American kind. Every year, each of the 32 professional teams perform a draft where they pick the best player from college teams across the country and pay them extraordinary amounts of money. The National Football League Commissioner stands at the podium in front of a live and nationally televised audience and announces their name along with the team they will call home. For some, this is the culmination of a life-long dream. For these young men in their 20’s, getting signed to a multimillion-dollar contract is also a part of that dream. For most, they will receive more money over the next four or five years than they could ever imagine. Families and friends, and shady advisors, have been waiting for this payday since the moment they started playing the game. The worst part of this fairytale is that 78 percent of NFL players will go bankrupt within two years of retirement according to Sports Illustrated. Whether it’s football, the lottery, an inheritance—when people suddenly come into money, more often than not, they are unprepared for …Read More »