Collectibles Are Still in Bull Market
The first gold coin produced in the American Colonies is known as the 1787 Brasher Doubloon Realizes that was just sold at the Heritage auction for $4,582,500. Ancient coins are generally up substantially over the last 10 years with pieces that sold for $20,000 in 1994 bringing today $150,000 to $200,000. Money continues to move out of banks and bonds looking to get off the grid. These market may still rise sharply and the peak appears to be actually 2025 or the peak on the next 8.6 year wave completing a cycle wave from the 1994 low.
European real estate seems to be headed for a high in 2015.75 on a 26 year bull market. It appears that equities and collectibles may fair the best with real estate tending to peak first.
Civil Unrest Erupting in Turkey
This weekend, 20,000 people in the Turkish capital Ankara renewed their protests against Prime Minister Recep Tayyip Erdoğan. Democracy is really under the spotlight in Turkey. This appears to be a movement that is on the rise in Turkey.
Education of Heads of State
An interesting study comparison of the education background of heads of state around the globe reveals our problem. Most of the educated people in government in the USA seem to be lawyers. In Europe, they tend to be not idealists. China has leaders schools in economics and business. Very curious comparison.
Do Government Always Default?
QUESTION: Mr. Armstrong; Is there any exception to the Sovereign Debt Crisis? Has any government survived?
Thanks
HJ
ANSWER: No. There is no exception whatsoever. Countries such as Spain were at the top of their game – the richest in the world. They borrowed against every ship because they could not wait for the money. They defaulted 7 times wiping out the Italian bankers and then the Germans. They successfully sent themselves into a third world status. Even England and France defaulted (see13th and 14th century Panics).
Any established government defaults on its debts. Those that are revolutionary and have no credit – hyperinflate. Either way, there is NO government that hasEVER survived. Government and bankers have been entwined since the dawn of civilization. (See the Great Athenian Financial Crisis of 354BC). Corruption even in Rome during the elections sent interest rates up dramatically to afford to pay bribes. (See Financial Panic of 53BC).
2014 Conferences Accepting All Reservations Now
This will include How to Trade using the Fourth Dimension & The Forecasts for the Biggest Movers into 2015 from around the world
We have a Room Block at less than $170 a night (saving $100) but this is very limited and on a first come first serve basis. We do not control that aspect so act very fast
Formal Education a Total Disaster – Return to Apprenticeships
COMMENT:
Hi Marty,
I refer to your recent post “Education becoming a fraud?”
I couldn’t agree more but it’s surely it’s worse than that. I live in a northern UK town with an above average university. Over the last 3 years at least 3 very large academic buildings have been erected and countless apartment blocks for student accommodation. This is mirrored in numerous other UK towns and cities. My inbox in filled daily with e-mails with opportunities to invest in student accommodation offering 9% fixed / guaranteed returns on investments. Student fees have trebled in the last 3 years and the UK government have outsourced their student loan debt http://www.bbc.co.uk/news/business-25084744. As I am a director of a recruitment firm I notice that the quality of basic education and brain washing that these institutions churn out I know is poor. Attaining a degree has become more important than core values, substance and a strong work ethic. How does your computer see this scenario playing out?
I’ve only recently discovered you and I have to say I am starting to see the light, thank you for all your insights!
Kind Regards
REPLY: For centuries, the primary schooling was an apprenticeship. You learn by doing the same as a language. You can read about a language all you want, but the best way to learn is simply being there. Rosetta Stone teaches precisely that method. That show you pictures and you get the gist of what is going on. Teaching cannot be done by someone who has never done anything in the field. All the blow-ups from Orange County to Long-Term Capital Management when they said Genius Failed, was because taking theory and applying it to reality NEVER works. This was the very difference between Karl Marx and Adam Smith. The former tried a theory and killed more people that anyone in history and the latter OBSERVED the Invisible Hand the Socialists hate so much because they keep trying to force the economy to do what they would like to see.
We really need to return to apprenticeships. I only had to retrain the people who had degrees, which was a huge waste of time. The vast majority of CFOs I met around the world did not have MBAs in finance. The majority had degrees in Engineering where people are taught to at least think out of the box.