This is a critical update from one of the best financial commentators I know, a good friend of ours, Mr. Tom Beck, who runs PortfolioWealthGlobal.com and we’re excited to share this one with you!
For the past two months, I’ve sunk my mind into the subjects of income inequality and wealth inequality. It took me on a journey that included over 13 lengthy books, countless recorded lectures, and numerous all-nighters to finally articulate my main conclusion on the matter, based on the facts.
Bottom line: America’s politicians, wealthy businessmen, and CEOs do not, in their heart of hearts, give the slightest thought to the average person’s well-being.
There are laws that could be legislated, right here and right now, that would make life in America more equal and give opportunity to the poor and under-skilled to prosper.
There are policies and business strategies which would achieve the same results.
In other words, my first conclusion is that MUCH MORE could be done, by both the government and by business leadership, to tackle this and ease income and wealth inequality – but it isn’t getting done.
As it took me 60 days to reach the obvious conclusion that extreme wealth inequality is a PROBLEM, I can only imagine that any person, when presented with the data, would draw the same conclusion. When any group of people living under the rule of the same governmental system drift further apart, without the issue being addressed, there is a price to be paid by ALL, but certainly not alike.
Warren Buffett, for example, will most likely not be impacted by what happens in this matter. Buffett has resided in Omaha, Nebraska for the majority of his life, but will donate his wealth to the Gates Foundation, which will take that money and disburse it an ocean away from North America, in Africa, where the foundation focuses.
Had Buffett cared about America as much as he says, his billions would have gone to assist with education in his hometown or his own state or country, but it won’t.
Elites, especially in America, do not feel bonded by the borders of the 50 states. They also do not feel compelled to donate or invest in programs that train more people to be a part of the modern world. It wouldn’t take much for either. What the poor need is inspiration, which even a tour of HQ for Fortune 500 companies would give most people.
The wheels of the brains of elites and of politicians do not turn along those lines at all!
Therefore, my 2nd conclusion is that I wouldn’t spend even one second contemplating what either Washington or the CEO of the company you’re employed with will do for you, nor, for that matter, what anybody will. The bailout is not coming and, with that, no real changes to how federal funds are siphoned.
“No man is an island” is a great quote, but in the Western world, it does look like there’s a will to try to prove otherwise.
Therefore, it is clear that for now, equity prices will remain expensive – both stocks and real estate – while governments continue to over-spend in order to fund social safety nets and enslave newborn babies to pay for all of this.
As this madness lingers, the need to live under NEGATIVE REAL RATES will only grow, which plays right into the hands of precious metals.
The companies that I’ve profiled as my TOP PICKS have, for the past month, rallied big and hit all-time highs!
Bottom line is that YOU ARE YOUR OWN BAILOUT PLAN – the cavalry is not coming.
Image credit: Michael D’Antuono Art
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