Where were you when the dot-com and real estate bubbles popped? Do you remember watching the Dow sink and your portfolio disintegrate?
It’s like watching your retirement go from cruises and dream cars to budgeting and scraping by right before your eyes. Poof!
It’s like being road kill on Wall Street.
And yet, here we are again. Wall Street and the Federal Reserve have blown another massive bubble right when another wave of people have to retire. Only this time, when the bubble bursts, it could be about surviving and eating, let alone budgeting.
It’s tragic how central banking has distorted our economy. What’s most tragic is how all these distortions can affect your family when it all comes to a head in the not too distant future.
After the last FOMC meeting the Fed punted again on raising interest rates, but the watch continues as New York Fed President William Dudley teased the other day that the economy is still on track for a rate increase this year.
Fed Chair Janet Yellen herself said as much at a speech at the University of Massachusetts last Thursday, Sept 24. What could that mean? And how do we time our portfolios around Fed thinking? Are you doing all you can to defend yourself against the possibility of very bad judgment on their part?
We’ve seen how loose, inflationary monetary policy can make fiat dollars seemingly evaporate in the blink of an eye. But why does this keep happening, and more importantly, how do you defend yourself and your portfolio against it?
To understand that, you have to understand how markets should work . . . continue reading this article
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Scott Carter is chief executive officer of Lear Capital. He is an economic theorist, an investment specialist, and an authority on precious metals. Carter is also a popular talk-show guest with appearances on Bloomberg Businessweek, CBS Market Watch, Fox Business News, The National Post, Forbes, and Investors.com. For more of his reports, Go Here Now.
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