I had a successful career as a financial advisor and later as a consultant that spanned nearly 15 years, focusing on estate planning, wealth preservation and retirement planning. For many years we were able to use both technical and fundamental analysis as helpful tools to provide in the design and planning process. All of this to a great extent is now almost meaningless as far as I am concerned if one is attempting to grow and preserve “real wealth” in today’s world. Now some may argue this and defend their positions indicating all kinds of “proof” supporting their point, so be it. However all of that, regardless of such analysis, can (and will) change on a dime with no notice and then it’s too late. Feed the greed? Fear the fear? Or plan according to the writing on the wall. So what to do? I will cover this in an on-going series of blogs which will be archived under the “Financial-Economic” category on my blog site. This particular blog post merely sets the stage.
I of course am not providing any specific advice here as each person’s situation varies and planning is based upon many criteria. So where to begin? I think it is most important to understand the world in which we live.
The world is now witnessing yet another transition of power, this time from West to East, from weak hands to strong hands as the US and EU hierarchy is imploding and hemorrhaging with massive debt, another banking crisis looming, and inflated markets. There is a movement towards a global cashless society and the volatility in the currency markets as the days are numbered before the US petro dollar is no longer the big dog on the street.
Although it may take some short years for this to be fully realized, the transformation of the global financial system is now under way. There are significant dangers and opportunities that must be identified and understood in order for one not only to survive, but also thrive as the new system is ushered in. And make no mistake about it a new global financial system is being implemented and there will be serious carnage all across the globe before things settle down.
There are certain things that are presently beyond our control so we must identify, accept, embrace, and prepare. This is not the time to be the eternal optimist and go about life as though it were business as usual for it is not business as usual of this you can be sure. Nor is it time to be the eternal pessimist and bury our heads in the sand like an Ostrich. It is, however, wise to practice critical thinking, do our due diligence, and to think for ourselves and to perhaps create leverage within and without of the system. I will begin discussing, paper to tangible ratios, and real wealth strategies along with other related topics in future posts. Meanwhile tic-tock-tic-tock. USA debt clock.
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