January, 2020 | Moneytruths

Thursday, 23^rd January 2020

Magic Man or the Master of Disaster?

I must confess that I quite enjoy President Trump – albeit probably for all the wrong reasons….

Perhaps it is the spectacle of a man drunk on a heady mix of self-regard and bombast….

Or perhaps it is because the word preposterous might have been coined specifically to describe him….

President Trump has definite elements of the ridiculous about him. He is almost certainly a lunatic. And he is quite likely dangerous….

But he is also absurd. And that makes him compelling and amusing viewing….

At it again….

America’s Commander In Chief was at it again earlier this week….

Speaking at the 50^th World Economic Forum in Davos, Switzerland – almost in the same moment the American Senate was preparing to embark on his impeachment trial – Trump stood shamelessly before an audience of the great and the good and told them this….

‘America’s thriving, America’s flourishing, and yes America is winning again like never before….’

The implication was crystal clear. This position of apparent global dominance has been driven by a ‘blue collar boom’ brought about by President Trump’s economic policies….

Apparently, the US economy was in a ‘dismal’ state when he took over from Barack Obama in 2017 – a reading of recent history that overlooks the fact that the longest-ever economic expansion in US history (still running) began under his predecessor in office, Barack Obama….… Click here to read more

Ignore forecasts – a good New Year’s resolution….

It’s the start of a new year – a time when newspaper editors traditionally flip through the old rolodex in search of experts who can provide forecasts and predictions about what’s going to happen in the economy and the markets over the next 12-months….

Our advice is to ignore this stuff….

Read it for entertainment purposes if you must. But don’t take it seriously….

Nobody knows what is going to happen in the future. Not for sure….

Fruits of guesswork….

Experience tells me that 98.8% of this ‘what’s going to happen this year’ material published by the newspapers is somewhere on the guesswork spectrum….

And the time it would take to figure out which bits of this avalanche of spurious ‘information’ might form part of the other 1.2% is probably better spent clearing out the kitchen junk draw or giving over to transcendental meditation….

But here at Money Truths we collect these things anyway….

Primarily, because they amuse us and because laughter is always the best medicine….

But also, because these tales of wrong-headedness serve as a constant reminder of the fallibility of ‘experts’ when it comes to predicting the future….… Click here to read more