Jeff Clark of The Growth Stock Wire discusses what the future may hold and says “I Single-Handedly Crushed the Dreams of the Next Generation.”
Last Wednesday was “Career Day” at the local high school. I was invited to speak, just as I have for the past six years, on the opportunities in the world of finance.
The room was filled with starry-eyed students â€“ their heads swimming with dreams of million-dollar opportunities working for Goldman Sachs, trading crude oil futures, or taking over Ken Lewis’ spot heading up Bank of America.
It took me less than 30 seconds to crush those dreams.
“Every year, I’m asked about how best to prepare for a career in finance,” I started my speech. “And for the past six years, I’ve suggested taking courses in statistics, human psychology, behavioral finance, and demographics. Today, however, I’m going to give you the same advice I’ve given my children, the same advice I’ve given my friends, the same advice for which people pay me thousands of dollars every year…”
I paused just long enough to notice the students were on the edge of their seats. The faculty, standing in the back of the room, stopped whispering to each other. The parents stopped texting on their Blackberries and sipping their lattes, anticipating the wisdom I was about to provide.
“If you want to be successful in life,” I said, “learn to grow a frickin tomato.”
Mr. Clark provides an entertaining and informative commentary on what will define success for the next several decades, and for many, it will be an eye opener.
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“learn to grow a frickin tomato” – In other words, the economy will deteriorate so muchÂ that the division of laborÂ will collapse and Ricardo’s Law will be inapplicable. Ouch.
only if you believe that the growing, preparation and distribution of food has no value… which I doubt you do.
I haven’t read a whole lot of Ricardo… actually, none, to be honest. But I will add some of his work to my SHTF reading list, along with Adam Smith. When the world collapses, electricity is cut off, and no TV stations are broadcasting, I think I’ll catch up on all this classical economics stuff.
>I will add some of his work to my SHTF reading list, along with Adam Smith
I recommend reading Bastiat, Hazlitt, and Mises. Mises is the best but a more difficult read than the others.
>I think Iâ€™ll catch up on all this classical economics stuff
Learn Austrian economics.