What Is Really Going On In The Financial Markets Today

David Mulvaney Mindset, Wealth Building Leave a Comment

What Is Really Going On In The Financial Markets Today 8-14-19

This is an email response I sent to my Uncle

Subject Line: Re: News Alert: Markets plummet on one of their worst days of the year, as recession signs emerge around the world

I’m on your side.

I hate the tariffs.

I have a container landing in the Port of New York on Tuesday, and the new Trump tariff cost me an extra $2300.

That comes straight out of my pocket because I received the order before the tariff went into effect.

I understand the risks; when you move products all over the world, there are always risks.

I’m an entrepreneur, who’s been at this since 1992 and have been hustling my ass off for over 28 years.

I’ve made a lot and lost a lot.

I see things differently than most people on this planet because most people trade their time for money, whereas I sell products that help people improve their lives.

To say it more clearly, I solve problems.

That’s what people do who are in business.

People want their problems solved more than the money it takes to solve their problem.

Then the exchange happens.

To quote the late Mitch Hedberg, “How about I give you money, you give me the doughnut.”

That’s a fair exchange.

One thing that never works is when the government screws with people who provide jobs, and that is what happens with tariffs.

Every export I have sent to China since 2004 has had a 20% tariff.

Therefore it’s only fair to me and all of the American workers that those tariffs go both ways.


Isn’t that something everyone is screaming lately?

Can we look at the truth?

If China’s market collapses, it has a significant effect on banks in Europe and around the world, especially in Hong Kong.

Hong Kong is one of the wealthiest places on earth, and they are feeling it because they have connections to everyone.

This is all excellent news for the US worker because a level playing field means it is highly probable that a company will be able to get the same work done in their hometown rather than halfway around the world by a bunch of people that don’t give a s**t about them or their company.

China is really struggling and this is why people are protesting in the streets of Hong Kong.

They want freedom and capitalism instead of oppression and government control.

Hong Kong is the only place they are allowed to express themselves, the Chinese were chanting “USA, USA”.

The markets are crashing for the following reasons.

The owners of the factories don’t want to lose their customers, so they are adjusting prices to keep their customers happy, which is making them fire workers because in they don’t want to lose business.

The country who is propping up the banks is losing money because the state-run banks have loaned all of their money to the manufacturing companies and now those manufacturers are losing money.

The Chinese banks are going broke.

Who do you think has money in the Chinese banking system?

Europe and the rest of the world.

Today’s market adjustment is because people aren’t sure of who to bet on.

The US or China.

Let’s look at a worst-case scenario for China (it’s not that far from possibility).

If the state-run banking system of China were to fail, it would send shock waves throughout the world, but the US dollar would end up at the top of the heap.

The US market will be the first to return to normal, probably in a matter of months because we really like air conditioning.

I will tell you something that many know, but few will say.

The markets are crashing because people owe banks a lot of money, and when the bankers get worried that their gravy train might be up, everyone gets terrified.

Here we go again.

Lots of crap loans and the same jerks who screwed us before are doing it again.

So what do we do?

Bet on the entrepreneur.

No matter what happens, we always find a way to turn things around.

We may fall many times, but the true entrepreneur always gets back up.

There’s a major battle unfolding in front of our eyes, and it’s the battle to control the world’s currency, and the one guy, who half of the world thinks is an idiot, actually appears to know what he’s doing.

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