Stop Wasting Time Focusing On What Should Be
The economics and finance books I read follow a general blueprint with three sections you see repeated over and over:
1. A History Of Finance/Economics Surrounding The Topic
2. What Is Taking Place Now Surrounding The Topic
3. What Should Be Done By Policy Makers & Political Leaders Based On This Information
When I was a younger man I read part three of these books with excitement and hope surrounding the future. In my mind, economic and financial wisdom would find its way into the minds of those making macro policy decisions and the world would begin to move toward a better place.
Today when I finish sections one and two, which I always thoroughly enjoy and appreciate, I stop reading and move on to the next book. When I read finance/economics articles online every week I no longer spend time reading anything that has to do with what the author thinks should be done in the future.
Why?
It does not matter because the world is not going to change. I understand this sounds depressing, but it is just the reality of the world we have been given. Any time you spend discussing with people or reading about how things should be is a complete waste of your time. How do I know? I have seven years of archived articles now on this website and my early years were dedicated heavily to this topic.
Your time should be spent further developing your understanding of what is most likely to actually happen and learning how to best profit from that outcome to support your family and help grow the real economy with your personal financial success. Perhaps that can be through the development of business that creates jobs or re-investment into the global economy following the next major economic downturn.
I see the world today divided into roughly three parts:
1. (The 98%) Have no idea what is happening around them have no desire to learn
2. (The 1%) Understand what is happening and try to profit from it
3. (The other 1%) Understand what is happening, get angry, and try to think of ways to take action and "change the system"
Readers of this site fall into one of the 1% categories. Why should you not waste your time in category three? Obviously you are a smart person so you should quickly see that it is 99 to 1 against you. Following a major collapse people within the 98% will get angry for a brief period of time and try to figure out what happened. Then the government will come to the rescue with the next round of "bread and circuses" and they will go back into their zombie state.
I mention this because I caught myself this morning when I finished discussing Jim Grant's new book saying.....'"Perhaps we will finally realize after the next global financial crisis that the best way to stop bubbles is to not blow them up in the first place." Of course that is the correct course of future action, but who cares? It's never going to actually happen. If you find me talking about "what should be" please let me know, and I will do my best to quickly get back to a more important discussion surrounding "what will be."
1. A History Of Finance/Economics Surrounding The Topic
2. What Is Taking Place Now Surrounding The Topic
3. What Should Be Done By Policy Makers & Political Leaders Based On This Information
When I was a younger man I read part three of these books with excitement and hope surrounding the future. In my mind, economic and financial wisdom would find its way into the minds of those making macro policy decisions and the world would begin to move toward a better place.
Today when I finish sections one and two, which I always thoroughly enjoy and appreciate, I stop reading and move on to the next book. When I read finance/economics articles online every week I no longer spend time reading anything that has to do with what the author thinks should be done in the future.
Why?
It does not matter because the world is not going to change. I understand this sounds depressing, but it is just the reality of the world we have been given. Any time you spend discussing with people or reading about how things should be is a complete waste of your time. How do I know? I have seven years of archived articles now on this website and my early years were dedicated heavily to this topic.
Your time should be spent further developing your understanding of what is most likely to actually happen and learning how to best profit from that outcome to support your family and help grow the real economy with your personal financial success. Perhaps that can be through the development of business that creates jobs or re-investment into the global economy following the next major economic downturn.
I see the world today divided into roughly three parts:
1. (The 98%) Have no idea what is happening around them have no desire to learn
2. (The 1%) Understand what is happening and try to profit from it
3. (The other 1%) Understand what is happening, get angry, and try to think of ways to take action and "change the system"
Readers of this site fall into one of the 1% categories. Why should you not waste your time in category three? Obviously you are a smart person so you should quickly see that it is 99 to 1 against you. Following a major collapse people within the 98% will get angry for a brief period of time and try to figure out what happened. Then the government will come to the rescue with the next round of "bread and circuses" and they will go back into their zombie state.
I mention this because I caught myself this morning when I finished discussing Jim Grant's new book saying.....'"Perhaps we will finally realize after the next global financial crisis that the best way to stop bubbles is to not blow them up in the first place." Of course that is the correct course of future action, but who cares? It's never going to actually happen. If you find me talking about "what should be" please let me know, and I will do my best to quickly get back to a more important discussion surrounding "what will be."
great insight! i've also only started thinking like this in recent years, after much frustration
ReplyDeleteYou can do both 2) and 3).
ReplyDelete