Posts Tagged ‘growth’

“The married couple of 20 years is just a step away from financial disaster….

Millions of over-leveraged consumers – who can’t distinguish between a ‘want’ and a ‘need’, refuse to live within their means, require a certain standard of living, and use most of their available credit without knowing when or how they’ll pay it off – are a big credit risk. They live on the edge of default….

Inevitably, irresponsible lending always leads to a bust….  Credit-card debt is growing so fast, it’s even outpacing strong wage growth….

Trouble is brewing… It’s only a matter of time before this recklessness blows up.” -Bill McGilton

“When scared, don’t worship the mediocrity of giving up. When scared, go forward. Change fear into growth…. When scared, that’s the place where nobody else is. Go there.” -James Altucher

Economic Growth?

Posted: October 18, 2018 in Economics
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“Right now, credit growth drives economic growth.” -Richard Duncan

“Americans feel squeezed because the cost of rent, medical insurance, and tuition – as well as other basic living expenses – is rising much faster than their wages. This creates very real problems for ordinary people.

By every measure – including stagnating wages and rising costs – things have been going downhill for the American middle class since the early 1970s. August 15, 1971, to be exact. This is the date President Nixon killed the last remnants of the gold standard. Since then, the dollar has been a pure fiat currency.

The rejection of sound money is the primary reason why inflation has eaten up wage growth since the early 1970s – and the primary reason why the cost of living has exploded.

Measured in gold, wages in the U.S. have fallen over 84% since 1971…. Priced in gold, the minimum wage has fallen 87% since 1968. Note that the federal minimum hourly wage was $1.60 in 1968. It’s $7.25 today, or 353% higher in dollar terms. But that $7.25 buys 87% less than $1.60 did back in 1968. That’s the story you won’t hear from the mainstream press.

Inflation follows a clear a pattern of corruption:  In a fiat currency system, the government will invariably print an ever-increasing amount of currency. This makes prices and the cost of living rise faster than wages. The average person feels the pain, but doesn’t understand what’s happening. More people support politicians who promise freebies. In order to pay for the ‘freebies,’ the government prints more money. This creates even more inflation, and the cycle repeats.”

-Nick Giambruno

“All growth depends upon activity. There is no development physically or intellectually without effort, and effort means work.” -Calvin Coolidge

Every Decision

Posted: July 15, 2018 in Thought for the Day
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“For every decision you make: MAKE SURE IT’S A GROWTH DECISION AND NOT A FEAR DECISION.” -James Altucher

“All growth depends upon activity. There is no development physically or intellectually without effort, and effort means work.” -Calvin Coolidge

“There are only two types of decisions: Decisions made out of fear and decisions made out of growth.” -Unknown

“A growth-based decision becomes the story of your life later. A fear-based decision turns into regret.” -James Altucher

“As the Financial Times reported yesterday, more than 1 million U.S. consumers are ‘at least two months behind on car loan repayments,’ noting that the delinquency rate in the $1.1 trillion market hit its highest level since 2009. And that’s not just limited to subprime borrowers. That figure includes everyone with a U.S. car loan….

The financial Times also cites, ‘Delinquencies on credit cards also rose by about the same amount over the period to 1.79% – the highest since 2011. The rise in bad loans comes despite persistently low borrowing costs and unemployment levels – suggesting lenders may be letting consumers take on bigger debt burdens than they can handle.

Lending to consumers with weak credit scores has been one of the fastest-growing parts of the industry. Still, the increased delinquency levels follow a period of rapid expansion and could be a natural consequence of that growth. Separate figures published on Thursday by the New York Federal Reserve showed the total amount of debt held by American households rose last year at the fastest clip since 2007.'” -Porter Stansberry

You don’t start with a passion, “You start with an interest….  Mastery leads to passion, not the other way around.  You weren’t ‘born’ to invent the next iPhone.  Nobody was.  Even the people inventing the next iPhone weren’t born to invent the next iPhone.  You have to get to the cutting edge, learn what’s missing, identify room for growth and innovate.” -James Altucher