Pay very special attention to this documentary if you are not a sophisticated investor. The reality is most financial advisors are NOT very educated about the financial markets themselves. I had a bad experience myself with a dumb financial advisor at a major Canadian bank.
The majority of financial advisors have no idea about market timing and they usually are just salespeople wanting to sell you financial products so they can collect either commissions or residual income as long as you keep your money in the investment vehicle they recommend.
First of all 25% of Canadians think that their mortgage and car payment is not considered as DEBT. Let me just say that these people need some serious “personal finance” training from Rich Dad, Poor Dad. Anything that takes /subtracts from your monthly income and cause you to have less disposable income / spending money is considered a liability or debt. Also any loan/credit that keeps you from saving money in a TFSA or high interest account is detrimental to your financial health.
There is so much truth behind how much people who become rich, knows and how they think as compared to a poor person. People become rich because they decide to get off their ass, be self aware and learn the skills they need to become successful constantly.
If you are poor, pick up a book and read, when you are done pick up another book, then another and another. For myself, I have read over 36 books in the last 5 years, and taken several courses all on finance, and it has helped my bottom line immensely.
Central Banks are criminal, they create an environment where the wealth is transferred from the poor, middle class up to the government and elite’s pockets.
Increase money supply will eventually devalue currencies and cause inflation.
Remember, in this environment taxes, government services fees, real estate and cost of living goes up.
Notice how the former bank CEO Patti Croft keeps painting a rosy picture of the economy. Through my years of observing the markets and mainstream finance media is that people employed in the financial service industry have to lie to the public.
She keeps things upbeat by using words like “improving” and “growth” , which are just flat out lies. Remember, bankers jobs are to keep you spending money and investing so they can make money off you in interest and fees, that’s it period.
Recently there have been many articles stating that there is now record number of money inflow into stock/equity mutual fund by retail investors. This is a sign that the market might be topping, when enough money goes into this market and drives up the stock market in the short-term , it is going to be the “blow off top”.
To get to the point, the American government cannot repay all the debt it has accumulated. America has borrowed way too much, like a teenager with a brand new credit card.
In the next decade, be aware and prepare. As the U.S dollar is going down, because the rest of the world will not be buying U.S bonds/treasuries as the U.S government institution prints more money. Possible hyper-inflation might be coming.
After you read this article you will sure to come to the conclusion that the U.S government is screwed and that the politicians in Washington have no idea how to manage the nations money.
There is roughly a short fall of about 150 Billion dollars. That is right billion with a “B”. The majority of Americans still believe the government “propaganda” that America is the richest nation, however the truth is that the United States is completely broke.
