The Importance of Gray Swans and your Money
I rarely do endorsements, but in this case, I highly recommend that you read a book by Crown Financial Ministries by Chuck Bentley, CEO. His book is titled “Seven Gray Swans: Trends That Threaten Our Financial Future.” He was on my program last Thursday. (Incidentally, we are looking for a new home for our podcasts. So, we will be posting this show sometime soon).
Bentley’s book is as small in size as it is in pages (only 106pg’s). You can say it is a compact wealth of knowledge. He discusses what you need to know efficiently.
His book is about seven trends. These trends develop a real-time view of what you need to do to prepare for events. The challenge is the Coronavirus Pandemic. It sped up the development of some concerning trends creating a sense of urgency.
I love his book because it is not about predicting gloom and doom and then selling you a subscription to a newsletter that will tell you how to survive it. It is about an honest assessment of some trends starting to develop and why you need to prepare quickly.
First, what is a gray swan?
You might be familiar with a black swan. A black swan is something that we don’t see coming that shocks the economy/stock market and has dire consequences. A gray swan defines the development of a negative trend you can see coming. Of course, you can’t predict its impact or its timing, but you are aware of it.
Proverbs 22:3 & 27:12 are two verses that are word for word the same verse. (how is that for a warning)
"A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences."
You can see these trends developing. So you can foresee the danger of some type. If you can anticipate the potential danger, you can take precautions. Then again, you can ignore it and suffer the consequences.
The Seven Gray Swans or trends that Chuck writes about:
· UBI: The Promise and Peril of Universal Basic Income
· Digital Currency/Electronic Economy
· MMT: The Upside-Down World of Modern Monetary Theory
· American Democratic Socialism
· Social Scoring and Biometric ID
· Fragile Networks: Insecurity in the Digital World
· Contra Mundum: Against the World
For more information about the book, go to www.crown.org.
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