Become A Wealth Machine
In one month, approximately ONE HUNDRED AND THIRTY Million Americans will vote, if past is prologue. They can either elect the sitting president, Mr. Donald Trump, or his adversary, Mr. Joe Biden. As we speak, Trump has tested positive for coronavirus, has been whisked to the hospital and is SUFFERING MILDLY and working through the disease.
September has been HARD to STOMACH; the NASDAQ 100, S&P 500 and the Dow Jones Industrial Average have all been THROUGH THE WRINGER. A proper correction is in place, just like we’ve been WARNING ABOUT since the end of August.
I’m currently in Tel Aviv, where the government has just approved a SECOND LOCKDOWN, more flexible than the one in March/April but still EXTREMELY PAINFUL for businesses (which are forced to shut down again), families (which are now tasked with parenting their children 24/7), the NATIONAL DEBT, which is reaching new highs not seen in decades, and for morale and spirit of individuals, who have seen the COVID-19 virus impact A TINY NUMBER of people compared with the comprehensive response the government is imposing — this is the REAL ISSUE here — the tradeoff between not overwhleiming hospitals (which are short of staff and on beds) and halting the lives of the millions, who will not impact statistics, since they’re not at risk.
I know many want to hear that silver is ON ITS WAY to hitting $50/ounce at the SNAP OF A FINGER, but it might take a while for that to occur.
You need to exert a HIGH LEVEL of fortitude to come out on the other side of September with your LIMBS INTACT.
In Germany, as the 1930s progressed, it BECAME IMPOSSIBLE to maintain relationships and friendships with both Jews and others who OPENLY CHALLENGED the ruling elites and the dictatorship that the National Socialist party was running.
The three GREAT TRUTHS of these economic times are…
Since this pandemic began to TAKE ITS TOLL on the world’s governments, economies and mainstream media outlets, I’ve seen comparisons being made to The Spanish Flu of 1918, from the perspective of public health; to The Great Depression, when it comes to the FINANCIAL DESTRUCTION; to the 1930s, when discussing WEALTH AND INCOME INEQUALITY; and to The Great Recession of 2008, as it relates to CENTRAL BANKS’ RESPONSE.
One summer ago, exactly on this date, my wife and I visited the picturesque port town of Portofino, near Genoa on the Ligurian Sea of Italy. It is considered one of the most beautiful destinations in the Mediterranean; mega-yachts park right next to the restaurants and pedestrians come up close to check them out.
I’m currently reading Stephen Schwarzman’s book, What It Takes, which talks about his life journey from middle-class Philadelphia to being worth $18.7B – all self-made.