Rich Dad’ author has the nerve to state If you’re investing for the long term ‘you’re crazy’
“The rich do not work for money. Most people do not understand that, because they’re taught to go to school and get a job for money. The rich don’t work for money. And one of the reasons for that is money is no longer money. One of the reasons for that is in 1971, President Nixon took the U.S. Dollar off the gold standard and basically screwed the world. It’s bad for the poor and middle class. As Bernie Sanders said, ‘wealth and income inequality is the greatest moral crisis facing America as well as the world today.’
The gap is growing between the rich and poor. The rich don’t work for money. If you went to school and got a job, and you’re saving money and investing in the stock market today, you are going to lose.” Full Story
While he makes some Salient points, his headliner where he states if you are investing for the long term, “you are crazy” is simply wrong. One year could be long term for one person, while for another it might be four years. However, that is all nonsense, because what matters is the trend. If the trend is on your side and you are getting in early, then if the trend lasts for years, it is a great investment; if it does not you move into a new sector or a market that is trending up. The focus should not be on long term or short term but on following the trend.
FAA Forecasts 600K commercial drones within the year-total chaos could ensue
There will be 600,000 commercial drone aircraft operating in the U.S. within the year as the result of new safety rules that opened the skies to them on Monday, according to a Federal Aviation Administration estimate.
Commercial operators initially complained that the new rules would be too rigid. The agency responded by creating a system to grant exemptions to some of the rules for companies that show they can operate safely, Huerta said.
On the first day the rules were in effect the FAA had already granted 76 exemptions, most of them to companies that want to fly drones at night, Huerta said.
“With these rules, we have created an environment in which emerging technology can be rapidly introduced while protecting the safety of the world’s busiest, most complex airspace,” he said.
Transportation Secretary Anthony Foxx said people are “captivated by the limitless possibilities unmanned aircraft offer.” The few thousand commercial drones that had been granted waivers to operate before Monday have been used to monitor crops, inspect bridges and transmission lines, assist fire-fighters, film movies, and create real estate and wedding videos, among dozens of other uses.
The FAA considered requiring drone operators to have manned aircraft pilot licenses, but relented when the drone industry complained that the time and expense involved in obtaining a license, including considerable time practicing flying a plane, would be prohibitive. Full Story
What happens when the number soars to 20 million and it will; don’t be surprised if a drone crashes in your back yard in the future. While the topic might not be related, we are drawing closer and closer to the age of robots. The commercialization of drones is the first step in that direction. A massive part of the workforce will be replaced by robots in the years to come. Warn your kids not to embrace fields where the work is repetitive.