Why the Financial Crisis Doesn't Really Matter
The Q Wealth Report
28 October, 2008
For weeks now weve been glued to our screens, watching the latest news, share prices, currency rates and so on. In this article I want to suggest a different approach. It took me a long, introspective walk on the beach last week to figure this one out, and now I will run it by you.
Its easy to get drawn in by mass media hysteria. Thats what happened to me as the bailout plans unfolded. But at the end of the day, why get stressed by things we can do nothing about? Let me restate two facts we all know already:
- The market is no longer free, nor is there even any pretence of a free market
economy. A huge part of the global financial system is now in hands of governments.
Apart from the obvious intervention (bailouts) you dont have to be
a conspiracy theorist to see there are lots more political factors playing
out behind the scenes. Lots of special interest groups. Lots of infighting.
- The media is in business to make news. There was a time when reporters reported. Now, they dont. They take stories from the internet and rewrite them, changing them a little so as not to stand accused of plagiarism.
It would be hard for anyone to dispute these two facts in isolation. The conclusion I draw from these two facts combined is that it is simply not worth participating in the financial markets anymore not unless you happen to be a central bank, maybe.
What we need to do is concentrate on living. During that walk on the beach, I thought back to some decisions I made years ago. They have stuck with me and served me well ever since. I decided I wanted quality of life a healthy life with friends and family. Time to do things I believed in, that pleased me. In other words I wanted to be in control of my life.
That is why, back when I was a business student in London in the early nineties, I didnt jump on the bandwagon and apply for a job with a big American investment bank. I knew a lot of people who did, and sure they made a lot more money than I did. But their lives didnt seem to me to be complete. Or maybe it just seemed too much like hard work for me.
Thats why now, I dont want to be a slave to the TV and the endless market watching sites. If I cant do anything about it, I might as well look for better things to do with my time.
When times look tough, the Americans talk about heading for the hills. I headed for the beach in Latin America, with a few stopovers in European cities on the way. And Ive never regretted it for a moment.
Now, just in the last few weeks, Ive talked to a lot of people who have been dreaming for years about a new life offshore but now they are really taking concrete steps towards that goal. It is really possible to live better, live healthier, at lower cost, make money using the internet, and best of all you can hedge against the effects of the financial markets in a way that you would never achieve with even the most sophisticated derivative!
Maybe now is really the time to do something about it, if you are one of those people. If the financial situation is pressuring you, it could be time for that radical change you have been putting off. Dont doubt your abilities. Grab your spirit of adventure, stop gambling on rigged markets, and move yourself offshore!
If you are interested in this topic, Ill be addressing more specifics
of how to achieve this in my blog entries here over the coming weeks. Ill
also talk about more recession-proof investments and businesses you can start
from scratch all in a low tax environment of course! No promises as
to specific dates, but I will certainly cover this topic more! And if you would
like to investigate this through a more in-depth approach (i.e. peek ahead),
you can read articles in this vein by myself and others at www.QWealthReport.com
Peter Macfarlane is joint editor of The Q Wealth Report an established newsletter dedicated to informing readers about creating, protecting and growing wealth in a secure offshore environment. It also covers international living, banking, retiring and investing. Visit www.QWealthReport.com to see more.
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