I thought that would get your attention versus some boring title headlining what I think is important for you to read. I have no idea if the dollar will crash.
There is good, and there is bad regarding a 24-hour media cycle. Of course, the ability to stay informed is the greatest benefit. Information is a keystroke away. For content creators, this means there is massive competition for eyeballs and likes. As a result, three types of content are created. First, there are well-researched opinion/facts-based stories. Those are gold if you can find them. Second, there is the opposite of good solid information. Some stories get the facts wrong, are written to mislead and are basically stories full of lies. Those stories usually raise so many red flags that readers move on.
The third type of information is sensationalized information. This is almost unbelievable information. It is information that raises questions in your mind. Whatever the effect, the reality is that it is information far from a well-researched, validated opinion. When you read an over-sensationalized piece of information, it is important to ask one question:
What are the odds of it happening?
The vast majority of sensationalized writing is based on a very low probability event. For instance, the latest piece of over-sensationalized information involves the IRS. They have recently been funded to hire 87,000 new employees and have been purchasing ammo, guns, etc. Of course, content creators got a hold of that information and came up with "Heavily Armed IRS Agents will be Knocking at your Door" (I just made that up) when there is a complete other side of the story. For a good explanation of the facts of that story, listen to my interview with IRS Expert Dan Pilla.
Another example is one nightly Fox TV show host stating that the stock market's collapse this year will take years to make back.
First of all, the stock market has not collapsed. Second, the worst of the loss so far this year was -25%. The market can make that up in a matter of months. Now, if we drop –50% to -60%, we are without question talking years. Oh, and one more thing: A -4% loss in the Dow in a single day is not a crash.
The end result is we have become misinformed, emotionally driven decision-makers. This is not the foundation for effective decision-making. What is the answer to wisely seeking information?
Lead me in your truth and teach me, for you are the God of my salvation; for you I wait all the day long. - Psalm 119:160
Don't forget that God gave us a prayer filter in an over-sensationalized world. Use prayer to filter what is useful information and what is low probability events.
Bob will be hosting two webinars of the same content over zoom Wednesday, October 26th and Friday, October 28th - both at 12:00 PM CST. Click here to find out more!