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Three Core Things To Do To Protect Yourself
This is Porter’s Daily Journal, a free e-letter from Porter & Co. that provides unfiltered insights on markets, the economy, and life to help readers become better investors. It includes weekday editions and two weekend editions… and is free to all subscribers.
Reader thoughts about Friday’s Daily Journal… What should I do today to protect myself from the global financial reset?… Coke is an example of a great business to own… Yes, a default by the U.S. government is possible… Goldman Sachs sees higher inflation coming… |
Table of Contents
You guys surprised me.
Over the last 30 years, anytime I wrote anything that was, in any way, critical of Social Security, there was a tsunami of angry letters and cancellations.
But over the weekend, I didn’t get a single angry letter. Instead, I heard from dozens of people who, like me, are deeply concerned about our country and its enormous debt load.
Here’s a sample:
It was very depressing to read that article, but I do believe you are right… I feel so betrayed by the people like Richard Syron and a long list of others who have stolen our future and our children’s future…”
I have believed for over a decade that the only way the government can get out of this debt trap is to inflate their way out of it… If this is not managed, what about civil unrest and the fabric of society?”
I do not have the wealth or the knowledge that you have gained over the years. It is quite a bleak picture you have painted for us. I appreciate your wisdom but sometimes wish I didn’t read what you just wrote…”
Stay the course and keep telling the truth. Greatly appreciate you taking the time to dig in and give a real breakdown on things I’ve intuitively known but never had the urge to go quantify.”
If tariffs, a trade war, and unsustainable levels of U.S. government spending and debts will destroy the entire global financial system in the next four years, why did I just spend $10,000 to become a Porter Partner? What good is investing in good companies if the entire global financial system is going to hell?”
I have said basically the same for the last 20+ years – that in my lifetime (65 now) that the U.S. will default on their debt obligations at some point…. I’m a tad perplexed on keeping much, if any monies in stocks if the situation is truly doom-n-gloom. Would it not be better to go to gold and safer currencies than the U.S. dollar?”
How To Protect Yourself
I want to answer the two most frequently asked questions from readers.
First, if there’s a global financial reset and a U.S. default, what should I do today to help protect myself?