The Biggest Threat to Your Wealth

Andy Snyder|September 29, 2023

A Note From Amanda: Readers have been asking for our take on the debt ceiling crisis that is looming (yet again) over the markets. We figured why not dig up this “Manward Classic,” which details why this type of buffoonery matters to investors… even more than you might think.

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Some days don’t go as planned.

I was halfway through writing today’s essay when I got an email from a reader.

It was about too good of a topic not to share with you right away. (I’ll save the piece I was writing for another day.)

Here’s the email… from Reader S.F…

Is it possible to not spread your political views in this financial newsletter? Not everyone, myself included, agrees with your political views.

Nope.

No, it is not.

Money and Power

That’s not because we’re a political zealot. We’re not. We wish everything political would go away.

And it’s not because we’re an extremist on either end of the political spectrum. We’re not. We know the nuts fall on both sides of the tree.

We can’t help but “spread our political views” in a financial newsletter because it’s the damned politicians who control our financial futures.

We got in trouble when we said it a decade ago, but we’ll say it again today: The biggest threats to our wealth are the folks in Washington… no matter which side of the aisle they sit on.

Between trillion-dollar stimulus deals…

Mailbox money…

(It’s now been handed out by every administration since George W. Bush…)

The new threat of unrealized capital gains taxes…

Universal basic income…

Distorting subsidies for this… that… and everything else the free market wants nothing to do with…

Lockdowns…

Lies…

Red tape…

Lousy trade deals…

Wars…

And the latest… debt ceiling fights (again)…

How in the world can we tell somebody the very best way to invest… while ignoring all this?

We’d be sending readers into a lion’s den with T-bones tied around their necks.

Power vs. the Truth

Our elected leaders aren’t telling the truth. They’re too busy putting lipstick on their pigs to tell their constituents what the real effects of their legislation will be.

What a lovely world it would be if the truth reigned free…

“Indeed, we’ll pay working Americans $1,200 today,” our leaders would say, “but it will come at the cost of the nation’s economic superiority and your children’s hard work. The inflation is going to hurt.”

Or maybe this…

“I voted for this budget-busting plan against my conscience,” they’d admit, “but have you seen the health plan congressmen get? I want to keep it.”

“Of course I went to Cancún,” they’d brag. “I’ve got more money than those poor dopes in Texas. Más tequila, por favor.“

But here’s what we’ve learned…

The truth can’t afford the Beltway’s tolls. It merely circles Washington, where folks like us put it on our shoulders and let it peep in over Capitol Hill’s new razor-wire fence.

But even if we woke up tomorrow and found all that had changed… there’s something else in that innocent-sounding note above.

It’s a perverse and pervasive idea going around these days that sounds like this…

“I don’t like what you’re saying, so shut up.”

Ears Closed

If we had to write to an audience that agreed with everything we said, not only would it be a small audience, but our writing would also become too boring to be worth getting up each morning to do.

We wouldn’t be doing anybody any good.

It was Friedrich Nietzsche who advised, “The man of knowledge must be able not only to love his enemies but also to hate his friends.”

Good. Agreed.

And it was Oscar Wilde who said, “I choose my friends for their good looks, my acquaintances for their good characters, and my enemies for their good intellects.”

Let’s be clear… Nobody is here for our good looks.

But, darn it, what fun would this be if we weren’t challenging our minds each day?

Our words aren’t our politics. Politics is the art of scheming to get what you don’t deserve.

Our words are tapped out each day to help you keep what you do deserve.

If you don’t like that… keep reading anyway.

Note: Manward’s own Robert Ross also has a controversial take… on where to generate the best returns in the market. It’s Wall Street’s best kept secret… and he’s revealing it all at his Breakout Fortunes Summit on October 5, at 2 p.m. ET. Learn how to keep what’s yours… and potentially make a whole lot more… at this FREE online event.

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