How to Survive

I have received a number of emails from people who have lost it all for faulty investment advice and then personal tragedies. Without repeating their stories, which are rather personal, this is a common sense approach.

Go with whatever interests you. That is the key. Whatever you find interesting you will be the best at and succeed. Education is really worthless anyhow for just look at politicians. They could not manage a bubble gum machine fiscally. They would spend whatever change came in, lack funds to refill it, and then go and steal a new supply from someone else and start all over again repeating the same nonsense.

Street smarts is far better. The most successful creators left college and created major companies with an idea. Build it and they will come. Be the best you can be and in the end that is the key to success. School will never teach you how to do that. This is something you have to feel your way through. Those who pinch-pennies trying to squeeze everything out of every deal then and there, will never rise to the top. They are transaction oriented and cannot see the long-term if you smack them in the face 10 times.

Look for an area that you could be self-employed. That may be the best stability in the future for relying on a big corporation of government may be a rude awakening. Be aware that the odds are society will move toward authoritarianism. This is a steam-roller that is going to be hard to stop. Those in power will blame the rich, bankers, and the definition of the “rich” is not salary income, it is investment income. Just be aware that this is the historical course with the highest probability.

Can we change that course? Well the Roman goddess Fortuna was appropriately portrayed – in one arm the cornucopia and all the benefits of life and freedom. The other hand she holds the rudder of a ship symbolizing she can change course on a whim. She was a very appropriate representation of the future. As they still say to this day in Italian – buona fortuna (good luck).

Reprinted from Armstrong Economics.