Jason Kasher will run 1,000 miles to pay off the last $30,000 of his student loan. Six miles a day for six straight months.
Michael Penn stood on the street near Goldman Sachs, giving out coffee and donuts so he could get hired.
Gregory Kloehn converted a $2,000 commercial dumpster into a fully functional living space.
Uber has introduced fare-splitting, meaning customers can share cab costs easily.
People are renting out their cars… their spare bedrooms… their floor space…
In the process, we’re steadily changing how we interact with each other, how we tackle our circumstances, and how we operate.
As Harry said on Thursday, “Welcome to new sharing economy,” where innovation is the order of the day. And as we continue through this winter economic season, where deflation is the prevailing trend and times are tough, creative thinking will only accelerate.
How far would you go to make yourself a shoe-in for that promotion at work?
How far would your kids go to get a job in this environment?
What innovations are you witnessing, personally?
Write to me at email@example.com and let me know. While you think about it, here’s what happened this week at Dent Research…
- Monday and Tuesday was an intense, two-day meeting. Harry, Rodney, Adam and the rest of us were crammed into a boardroom for hours on end, listening to what Harry’s views are on gold, China, jobs, the Fed, and economists on CNBC… Rodney’s views of Spain, Portugal, real estate and banks… then we reviewed our November 6-8 Irrational Economic Summit and the great speakers we’ve lined up for attendees (George Gilder included)… the focus of our next Boom & Bust and Forecast issues respectively… how Rodney’s beta-testing is going on his new service… how much closer we are to bringing you the new real estate-related service we’re developing… new books on the horizon, including an update on Harry’s Demographic Cliffs book, due in January, and a concept for a new book from Rodney… you name it, we covered it. As a result, this week has felt like the longest. Ever. And none of us would have it any other way.
- In between the back-to-back meetings on Monday – in other words, during lunch and coffee breaks – Harry and Rodney talked to Boom & Bust subscribers about the GDP numbers and revisions to them. Remember way back, in the fall of 2012, when 2013 was supposed to see 3% to 4% GDP growth? Remember that the second quarter was supposed to mark the lift off of the economy? Yeah right! GDP estimates fell for the last eight months, reaching the point where the actual first release of second quarter GDP of 1.7% beat the consensus of 1%. Nothing says anemic economy like sub 2% growth. And the Bureau of Economic Analysis (BEA) decided to revise how GDP is calculated, now adding in research and development spending and entertainment production like music and film. This added over $500 billion to the official total of GDP and basically threw historical comparisons out the window. We understand the BEA’s logic when it includes research and development as fixed costs, not expenses. We even understand it when it says the same about entertainment production, given that songs, movies, and TV shows can be copied and replayed. What we don’t understand is its revision of pension savings, because it makes a mockery of honest accounting, particularly in light of our situation today.
- The best chart of the week is this one, from Adam on Wednesday…
The Secular Shift Underway
in Health Care
- Adam sees a secular shift underway in health care. We’re not in the least surprised about the changes taking place in this sector. In fact, we expect change here to accelerate because we know possibly the most crucial piece of information. That is, Baby Boomers, half of which are now retired, will spend more on health care going forward. It’s a foregone conclusion. As we age, we spend more on staying healthy and curing age-related diseases than we do on, say, potato chips. That’s why, in Harry’s newest resource – Spending Waves: The Scientific Key to Predicting Market Behavior for the Next 20 Years – you’ll find details on several specific areas within health care that hold the most money-making potential. Do you know exactly what Baby Boomers are going to spend their health care pennies on? Do you know how you can invest in those areas to cash in on the booms ahead? I’d wager you’ll find this resource invaluable.
Talk to you next Saturday. Until then,
P.S. I’m a fan of Gmail. But I’m not a big fan of its new tab format. Don’t get me wrong. I appreciate the company trying to make my inbox a little less cluttered. But I’m a little OCD and honestly, I prefer to manage my inbox myself. Many times over the last few weeks, e-mails I’ve been looking out for have gone unread for several days because Gmail thought they were “promotional” or “social.” Gmail deciding for me what’s what and moving my e-mails around is more annoying to me than taking a few seconds to delete an unwanted message. So I found this set of instructions useful in helping me take back control of my Gmail account. I’m hoping you’ll find them useful to. Let me know.
Ahead of the Curve with Adam O’Dell
Gold prices sliced through $1,550 like a hot knife through butter in April, falling $350 an ounce in less than three months.
Recent Articles by
Harry Dent, one of the most respected economists in the industry, has uncovered a disturbing market event that could soon devastate millions of investors. In short, he has undeniable proof that one of the market’s safest and most popular investments is about to get slaughtered… and it will have dire consequences for those who don’t prepare right away.
For full details on the event Harry’s dubbed as the “Safe-Asset Slaughter”… and to ensure you escape the coming carnage, I urge you to watch this special presentation.