Our first post is one that I only stumbled upon by accident but captures a lot of what I’ve been feeling around the stock market, economy, Fed, and that whole world.
You can skim the first half only because we’re living through it right now (unless you’ve forgotten what happened the last two years!) but it sets the stage for the second half, which is a critique of the Fed’s action and, more to the point, the reasoning behind it.
You weren’t supposed to see that [The Reformed Broker] – “When some people have prosperity and the American Dream is still a brass ring for the masses to reach for, the system works. Everyone stays in line. When the American Dream is actually attained – by everyone all at once – the system buckles. That’s what you’re living through today. There isn’t a moment to lose. We have to hack off a couple of limbs to save the patient. Emergency surgery.”
Some Good News [Ramp Capital] – “The good news is for those who are in the beginning or middle stages of their investing careers and don’t need the money right now, you’re getting in at cheaper prices than you were in the past year.”
Six Reasons Why High Earners Don’t Get Rich [Banker on FIRE] – “Another great way to sabotage your financial future is spending like you are making $300k (or more) BEFORE you get there. It’s an easy trap to fall into, especially as you watch your more senior colleagues rake it in. “I’ll make it back”, you whisper to yourself as you put yet another luxury weekend getaway on your credit card. Except many people never do.”
I haven’t seen this documentary (yet) but the trailer for The Price of Everything is great.