“Fake it ‘til you make it,” is a good way for building confidence when starting out in one’s career. But the truth is, the mentality is a huge part of the economy. That’s seen in a number of economic measures, such as those that look into what’s called confidence.
While consumer confidence is the best-known, small business confidence is pointing to a yellow flag for the economy right now. Rising inflation, sliding profit margins, and a labor shortage are a trifecta of pain for these firms. These businesses were the worst hit by the pandemic lockdowns, but they’re also companies without the same access to capital markets as publicly-traded stocks.
Delta variant or not, big businesses are likely to get bigger, and they’re the ones already traded. So the latest business confidence data shouldn’t shy investors away from the stock market.
Now here’s the rest of the news:
The Folly of Ruling Out a Collapse –Dr. John P. Hussman,Strategic Advisors
Among all the bubbles in economic history, none has so thoroughly embraced the belief that extended losses are impossible than today’s. And no forecasts are required to know what’s coming… [Read Here]
August 11, 2020
Over the past few trading sessions, it’s been clear that the bulls are looking to make a run at value stocks after the trade stalling out in early June. Makes sense as the mega-cap tech stocks are reaching nosebleed territory. That means that industrial, financial and cyclicals may start to catch a bid in the coming weeks. Whether the bulls can continue to run free is unclear, but what is clear is where they’re looking to go.
Here’s the rest of the story:
Silver’s Rally Is Far From Over –Chris Igou,True Wealth
Silver hit its cheapest price in 40 years relative to gold a few months back. The metal was lagging behind gold in a big way. And as I explained to DailyWealth readers in May, this meant one thing… Silver would come back with a vengeance. That’s exactly what happened. Silver is up 58% since I shared that opportunity. Meanwhile, gold is only up 18%.
We Got Fired! … And It’s the Best Thing That Ever Happened to Us
Many people have lost their jobs during this pandemic though no fault of their own.
In Harvey Mackay’s book, “We Got Fired! … And It’s the Best Thing That Ever Happened to Us,” Harvey interviewed 29 people who landed on their feet and excelled after they were furloughed or given a pink slip. These were high profile people, often fired in a very public arena. To sum up each of their inspirational stories, I asked everyone what advice they would give to people looking for a job today.
Pat Mitchell was the first woman president and CEO of PBS at the time. She had been working as a researcher/writer for Look Magazine when it went out of business. Her advice was: “Be determined … I was deter-mined not to give up. I figured it would all come around if I could find a way to survive financially while I stayed focused on what I wanted. It didn’t come easily. If you look at my resume, it seems like one exciting jump from one run to the next. Every one of those moves was somewhat of a risk. Some didn’t work out as I planned or hoped. I didn’t follow a straight line to get where I am, but I never went backward either.” She added: “Seize every chance you have to learn. It’s amazing how many skills we seem to acquire by accident.”
[Pat’s story, like many others are within the pages of this great inspiring book! … a must read.]
August 11, 2019
The concept of the smart factory has been around for quite some time. But technology and connectivity limitations have held back development. Until now.
5G Paves the Way
Jonathan Wilkins, director of global machine supply firm EU Automation says, “The technology could bring about a fundamental change…” I just hope it gets us out of the mess we’ve created. [I think technology will get us out of problems such as ‘Global Warming’, the ‘Opioid Crisis’, and this ‘Age of Plastic’ bombarding our shores and choking our landfills.] Has it not already improved efficiency, reduced wasteful maintenance, and generally lowered manufacturing costs?
The Consumer Technology Association says 5G will allow you to download a two-hour movie in just 3.6 seconds, versus six minutes on current networks. But 5G is much bigger than just movie down-loads. It is expected to propel innovation across multiple fields, including transportation, healthcare, defence, consumer electronics and appliances, agriculture, shipping and warehousing, education… the list goes on. Just imagine what knowledge could-be-share and wisdom acknowledged?
Capitalism is best described by the term creative destruction, first described by economist Joseph Schumpeter. The term indicates that new technologies can replace old ones – possibly ones that seem entrenched and incapable of innovation. Of course, not all new technologies work out.
The Hyperloop, an attempt at faster, safer transportation, just set a record 288 mph in a recent test. Some parts were lost along the way – a generous term for an explosion that occurred. This form of creative destruction is certainly both creative and destructive.
We’ll let someone else do the first human tests… 😉
August 11, 2017
Making money online or offline is really simple. Making money with a home business is also simple. If that were true, why do so many of these secondary businesses at home fail to make money?
It’s because the majority of those who try, can’t focus on one thing for long enough to see it work before they’ve moved on to the next. I’m going to meet with (these five people) and show (each one of them) how they can save money on their taxes. Before they know it they’re checking email, posting pictures on Facebook, chatting on the phone, and wasting time watching YouTube. Not because they are bad people! But because there was no clear amount of time allocated to the task. What was the task?
Meeting and showing these specific people “the tax advantages they are missing.” But instead — they’ve been very busy for those three hours, but haven’t been even slightly productive. What you’ll find most difficult is knowing which tasks actually bring in the money. That where we come in…