The proverbs of old consoled generations of poor souls who had to face the whims of Lady Fortune. This was before modern, technology-defined environmental bubbles – from air-conditioned homes, offices and cars to online chat groups and Facebook pages – defined the norms of the consumer society, designed to avoid various forms of abuse. discomfort and inconvenience.
One of the most poignant of the ancient proverbs belongs to the family of expressions designed to encourage hope in the face of adversity, of which “Every cloud has its silver lining” still resonates even though we rarely find ourselves directly exposed to the inconveniences of evil. Weather report. Most people don’t remember the old watch, “It’s an evil wind blowing on no one.” The difference between the two proverbs is that the latter focuses attention on the potential illness of a wind, admitting that it may indeed be something to worry about.
Moneywise, a journal dedicated to investment advice, offers some insight into why the second proverb deserves our attention today. It is not only the increasingly visible violence of the weather that makes it increasingly difficult to deny the phenomenon of climate change. From the perspective of the investment magazine, the only weather capable of causing real concern is the kind of impending storm that the media calls a stock market crash. The alarms seem to be ringing, so for the wise and the wealthy, it’s fast becoming time to act. But how?
With a wry smile on his face in the image just below the article’s title, author and investment expert Robert Kiyosaki delivers this succinct weather report: “Millions will be wiped out.” Moreover, he believes that the crash is already underway. The title of the article ends with these words: “But now could also be the perfect time to ‘get richer’ – here’s how.”
Today Devil’s Weekly Dictionary definition:
The opposite of becoming poorer, which happens to most people in times of crisis, often threatening their survival. Only the already rich, whose survival is never in question, can “get richer”.
The article gives the reader the bright side that anyone would expect from a journal dedicated to investment advice. Kiyosaki looks beyond what is needed to weather the storm. He wants to tell the reader how to take advantage of it. “Although it can be tempting to hide in money,” the article explains, “Rich Dad Poor Dad author Robert Kiyosaki thinks this might be a great time to ‘get richer.’ .”
The rich are not afraid of crises. These are opportunities to increase one’s wealth. Kiyosaki explains what should be obvious to anyone who has followed the history of the markets over the past two decades, even if the media has traditionally been reluctant to trumpet it to the general public. “2008 was a great time to get rich,” Kiyosaki reminds those with the means to play in the large-scale market. “Everything has been put up for sale. Borrowed millions of dollars buying real estate bargains.
The message is clear. If you didn’t get rich then, you’re probably to blame yourself. But, if we take Kiyosaki’s advice, now is the time to act before it’s too late. Because this time around, the crash is bound to be a real doozy. The author considers himself an oracle, saying that in 2013 he published Rich Dads Prophecy predicting a bigger crash to come. “THIS CRASH is HERE. Millions will be wiped out. So, as another proverb tells us, it’s time to “make hay while the sun shines”, even if the sun should soon disappear behind an ominous black cloud and generate a particularly bad solar wind.
With a studied understatement, the article offers “an overview of two assets that could help you weather this storm”. But for the rich, it’s never about survival. Instead, it’s exactly as Kiyosaki says: it’s about “getting richer.”
Skeptical readers may not be inclined to believe the predictions of Robert Kiyosaki, who not only did not predict the crash of 2008 but promoted real estate investing until the subprime mortgage crisis that ravaged the market. They are more numerous to listen to the testimony of Michael Burry, the hero of The big court (book and film) who anticipated and profited from this crash. Business Intern reports that last summer, Burry “sounded the alarm bells on the ‘biggest speculative bubble of all time in all things'”, calling the upcoming event the ‘mother of all accidents’. Like Kiyosaki, he claimed “‘Doomsday is finally here’ in a since-deleted tweet” sent out last week. If that’s not enough, the New York Post presented the forecasts of “famous investor Jeremy Grantham, referring to a ‘tragedy’ and a ‘superbubble’, characterized by a situation in which “the three main asset classes – housing, equities and bonds – were historically overvalued in a way review at the end of the last year.”
Many commentators less interested in investment than in the health of the global economy and the culturally destabilizing effects of growing inequality didn’t need to wait until 2022 to realize that things had been headed in the wrong direction since the plan. bailout of 2009. They saw the writing on the wall as quantitative easing (QE) shifted from a crisis response to a way of life. In 2016, The Economic Times of India wrote: “Permanent monetization may be inevitable, given the risks and difficulties associated with reversing the asset accretion that has occurred under QE. It can also be beneficial. Writing it “may prove beneficial” acknowledges that this may not be the case in the long term. Yesterday’s short-term solution becomes today’s long-term disaster.
No one really knows what drives or sustains global markets. But everyone is free to speculate. Moneywise is an organ of the media, like many others, intended to guide the speculation of the wealthy. As long as the rich remain focused on how to exploit a crisis for themselves in the interest of enriching themselves, society itself is guaranteed to become poorer.
*[In the age of Oscar Wilde and Mark Twain, another American wit, the journalist Ambrose Bierce produced a series of satirical definitions of commonly used terms, throwing light on their hidden meanings in real discourse. Bierce eventually collected and published them as a book, The Devil’s Dictionary, in 1911. We have shamelessly appropriated his title in the interest of continuing his wholesome pedagogical effort to enlighten generations of readers of the news. Read more of Fair Observer Devil’s Dictionary.]
The opinions expressed in this article are those of the author and do not necessarily reflect the editorial policy of Fair Observer.