Earlier this week I came across a great article in the Economist titled “Labour Pains”. It tells a story of something we already knew but were lacking statistics. All around the world labor is loosing out to the power of capital. Technology in particular has caused this development while the impact of cheap foreign labor is probably oversold. For advisors and clients and those with capital it is critically important to maximize its utility to the full as the returns for labor start to diminish.
The Federal Reserve, the Treasury, the entire banking system is a scam. At least according to Mike Maloney a self taught economist and gold bug. In this video he breaks down step by step why the entire financial system seems to enrich those at the top and rob those at the bottom.
I am not in the habit of sharing videos from crazy people and I am not starting now. There is a lot insight and value from Mike’s video. Check it out.
Yesterday I came across this excellent video by Ray Dalio of Bridgewater Associates. For those of you who don’t know, Ray Dalio runs the largest Hedge Fund in the world with $122 billion AUM. He breaks down the economy into three parts….
Short Term Debt Cycle
Long Term Debt Cycle
Ray makes an astute observation that credit is actually more important to the economy than money and proceeds to explains it all in this easy to follow 30 minute video. Don’t expect stock tips and investing ideas. This is pure education.