Synopsis
Media headlines today are filled with news about the economy, inflation, possible recession, war, the stock market, and the direction of our country. In that chaos and confusion, how do we make business and personal decisions to protect our financial security?
In a model created decades ago, entrepreneur Morgan Maxfield and Florida State University Professor James Gwartney observed that there are conditions in our economy that seem to occur somewhat in order. The conditions occur because of a previous action.
Imagine a set of Dominos. Each Domino represents a specific condition in our economy. Actions taken by policymakers trigger a reaction in the economy. Unforeseen events may accelerate, modify, or delay what occurs next. The dominos seem to fall in sequence, one following the other.
This book examines the work of Maxfield and Gwartney more carefully to see how those concepts might apply to today’s economic environment. It reveals the impact of undisciplined fiscal policy by elected officials that create double-digit deficits, reactive monetary policy, disruptions that appear in the form of unanticipated events, and much more. The dominos may not always fall in perfect order, but fall they do.
This book reviews the Falling Dominos model, applies current-day dimensions to the model, and explores the lessons the Dominos offer in today’s environment. Awareness of the economic cycle and knowing what to expect next could be critical to your financial future. Investors today are fearful. In the deafening noise about investing and beating the market, it is vital you first have a context of where we are in the economic cycle.
With this context in place, investors and retirees can prepare for their future inside the economic cycle. You will then be positioned to avoid the mistakes made by most investors who follow the traditional Wall Street advice of speculating and gambling with their money.
It will open new possibilities for you to discover your true purpose for investing, setting investment goals, focusing on the long-term, diversifying your investments, why rebalancing is so critical, and the importance of personal discipline.
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Economic Dominos: Predictable Events of the Economic Cycle
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