The alternative investing podcast ecosystem is full of doom and gloom. It’s always that way. Any time we get out of a recession and the economy gets a little hot, everyone’s calling for the zombie apocalypse. They tell you to prepare for the worst because the zombies are coming. Start growing your own food and buy lots of precious metals. Because, of course, silver coins are the currency of choice for zombies.
Eventually, the natural cycles do their thing and the economy does go south. That’s when the doom and gloomers do their end-zone dance and tell you that they had predicted the down-turn the whole time. They are right. After all, even a broken clock is right twice a day.
Now let me be clear. I understand that we live in unprecedented times of sovereign debt, record low interest rates, and the Federal Reserve is printing money at unparalleled levels. Oh yeah—and we have a hell of a demographic cliff coming up next decade.
But… if you listened to the doom and gloom crowd for the last 6 years, you missed out on a lot of opportunities to make money. Case in point: our investor club partner Western Wealth Capital has been around for about 6-7 years. Over the last 6 years, one investor turned $750K of invested capital into over $4 million! Now compare that to how far gold has come since 2015.
The reality is that the economy is dynamic and you have to make money when you can. If you’re worried about a depression happening 10 years from now and stop making good investments today, you probably will not fare as well as someone who is actively growing their wealth right now. Building wealth creates resilience. Fear does not.
But listen…if you listen to a lot of podcasts, I don’t blame you for stashing gold under your bed. There’s a lot of opportunistic financial forecasters out there telling you that the world is coming to an end…again.
You know what I would love to see? I would love to see all economists, especially those who shill gold, provide a scorecard on their financial forecasts. My guess is that in most cases, those who predicted the last two recessions, would also be the ones who predicted 5 more recessions that didn’t happen in between.
If you’re good at predicting the future, show us your track record, right? Well, as it turns out, there is one group of economists who have been keeping score since the mid 1940’s and have predicted economic events with 97 percent accuracy since that time. Not surprisingly, they predict both good times and bad. That’s the way the real world works! The firm is called ITR economics and I listen closely to everything they have to say. Maybe you should too.
You can get started by listening to this week’s Wealth Formula Podcast where I interview ITR economist, Taylor St. Germain. Learn about the pandemic economy and what’s on the horizon over the next decade. Don’t miss this show!
As an economic analyst, Taylor St. Germain provides consulting services for small businesses, trade associations, and Fortune 500 companies across a spectrum of industries. His dynamic personality and extensive knowledge of economic trends and their business relevance are highly valued by clients and colleagues alike.
Taylor is a member of ITR’s Dallas team and specializes in forecasting at both the market and company levels. With his depth of experience, Taylor is a key contributor to ITR Economics’ forecast accuracy rating of 94.7%.
- Why did the market continue to do so well when profits don’t support the valuations?
- How is a depression different from a recession?
- What makes the ITR approach to economics unique?