Dawn Bennett Interviews Brion McClanahan, Author and Historian

Dawn Bennett, CEO and Founder of Bennett Financial Services and Host of Financial Myth Busting, recently interviewed Brion McClanahan, PhD, acclaimed author and historian of U.S. presidents. McClanahan is best known for his famous works: 9 Presidents Who Screwed Up America: and Four Who Tried to Save Her, Forgotten Founders, The Politically Incorrect Guide to Real American Heroes, Forgotten Conservatives in American History, The Founding Father’s Correct Guide to the Constitution, and The Politically Incorrect Guide to the Founding Fathers. He has also written for a variety of news publications, appeared on a dozen of radio talk shows, and given many presentations about the founding fathers and the founding principles of the U.S.

In his interview with Dawn Bennett, McClanahan discussed his take on the upcoming presidential election—which he calls “an interesting election”—as well as  his latest book, 9 Presidents Who Screwed Up America: and Four Who Tried to Save Her. When asked, “Is there any kind of historical precedent for a populist like Donald Trump?” McClanahan replied:

“Well, I think certainly there is. Trump is unique, in that there’s not a whole lot of substance to Trump. I mean, I think what’s happening here is this anti-establishment wave has picked up Trump and they’re running with him. Now, there are some positive things I can say about that lack of substance for Trump, but I think he’s riding that wave right now. Now, in terms of past elections when we’ve had something like this, I think you can look at 1980 in that way. Reagan had more substance to him, of course, but he was also putting together this kind of coalition that Trump is, as well; you know, a lot of blue collar Democrats, very populist campaign. Even 1976, Jimmy Carter was anti-establishment. So Reagan and Carter were kind of on that path as well. And then you’d have to go back really to, say, someone like George Wallace, who did the same thing. And then going back even further into 19th Century, I know a lot of people have compared him to Jackson, kind of this anti-establishment wave. But, I mean, that’s what we’re looking at here. And certainly it is an interesting election, the most interesting election, I would say, since around 1980.”

Bennett and McClanahan also discussed his latest book, 9 Presidents Who Screwed Up America: and Four Who Tried to Save Her.  In McClanahan’s opinion, the nine presidents who screwed up America were Andrew Johnson, Abraham Lincoln, Theodore Roosevelt, Woodrow Wilson, Franklin D. Roosevelt, Harry S. Truman, Lyndon Baines Johnson, Richard M. Nixon and Barack Obama, while the four who tried to save her were Thomas Jefferson, John Tyler, Grover Cleveland, and Calvin Coolidge. In the interview, he explained how he came up with his interpretation of the presidents who screwed up, as well as those who succeeded.

He explained, “My rule is very simple; how did they uphold their oath to preserve, protect, and defend the Constitution? So FDR was awful because of his policies, but he was also awful because he ran over the constitution all the time. And so that’s really the way I was measuring these presidents. I could care less, at the end of the day, about the outcomes of the policies in this particular book, but I was looking at what they were doing, were they constitutional to begin with? And so the New Deal was completely unconstitutional, and Roosevelt was very open about that. He said, ‘Look, if congress won’t act, then I’ll do it myself.’ And he did it himself a lot of the time, which, if you look at the original constitution, the president never has any legislative authority. So that’s how I was measuring the presidents, and there are actually more than nine in the book, but they only let me put nine on the cover. I could’ve put even more in there, because when you look at the executive branch, really in the last hundred years, none of the presidents have followed the original constitution very well. And I made a statement when I was marketing my book before this, The Founding Fathers Guide to the Constitution, that nearly every president in the last hundred years should have been impeached. And people picked up on that, saying, ‘My gosh, how can you say that?’ Well, I wanted to write this book to explain what I meant when I said that. And it’s very clear that we have an executive branch that the founding generation would recognize, but they wouldn’t want. They’d recognize it, because George III had this kind of power too.”

View Dawn Bennett’s full interview with Brion McClanahan here: http://www.releasewire.com/press-releases/dawn-bennett-host-of-radio-show-financial-myth-busting-interviews-brion-mcclanahan-historian-and-author-671901.htm.

 

 

Dawn Bennett Writes Article, “The Central Bank Titanic,” Regarding the Current State of the World’s Central Banks

Dawn J Bennett, CEO and Founder of Bennett Financial Services and host of Financial Myth Busting, recently wrote an article titled, “The Central Bank Titanic,” in regards to the current state of the world’s central banks. January had a bleak beginning to 2016 for equities. The Dow was down 5.5 percent year-to-date, the Russell 2000 at negative 8.85 percent, the NASDAQ off 6.84 percent. Wall Street Journal’s Market Watch recently wrote that the Dow could lose a further 1000 to 5000 points and still not be “cheap” compared with long-term stock valuation measures. In fact, most stocks worldwide are down between 18 and 54 percent from the May 21, 2015 peak of the global equities markets.

So what was the rally in January really about?

“One reason could be month-end set dressing by hedge and mutual fund managers eager to have the appearance of a win after a particularly brutal start to the year,” said Dawn J Bennett. “Even more, though, was another round of “more of the same” central bank manipulation like we’ve seen for the last six years, as the Bank of Japan reversed a position announced a week earlier and moved to negative interest rates, joining Switzerland, Sweden, Denmark and the EU.”

The main role of central banks is to influence capital allocations and spending behavior by adjusting liquidity. Over the past seven years, they’ve gone overboard in this objective – attempting to influence consumers to purchase risky assets. Seeing Japan’s equities markets still faltering, Bank of Japan Governor Haruhiko Kuroda took interest rates into negative territory, hoping to chase investors into stocks and bonds in order to reach his inflation goals.

Dawn Bennett continued, “How is that working out? Not well. Japanese Government Bonds have moved to negative yields, and the Ministry of Finance is expected to announce a decision to call off the sale of 10-Year JGBs for the first time in history. Their stock market continues to fall. Amid these unintended consequences, Kuroda continues to say there is “no limit” to monetary easing, going so far as to say he would invent new tools if going farther negative doesn’t start movement toward his 2 percent inflation goal. The New York Times wrote that “moving to negative interest rates reflects a measure of desperation on the part of the central banks. Their traditional tools have been largely exhausted as most countries interest rates have been pushed to almost nothing.” In fact, that word, “desperation,” has been appearing a lot in this context.”

Could negative interest rates be coming to America? How far will Yellen go to keep money in risk assets?

Read more from Dawn J Bennett here: http://www.releasewire.com/press-releases/dawn-bennett-writes-article-the-central-bank-titanic-regarding-the-current-state-of-the-worlds-central-banks-662763.htm

If It Walks Like a Bear and Has Claws Like a Bear… A Look Into the Economic Market

Dawn J Bennett, CEO and Founder of Bennett Financial Services and host of Financial Myth Busting, recently wrote an article titled, “If It Walks Like a Bear and Has Claws Like a Bear…” regarding the current economic economy. According to the Nielsen agency, President Obama’s final State of the Union was watched by 31.3 million people, the lowest viewership since Nielsen began tracking the annual address in the 1990s. Obama claims the economy is doing great and enemies are being defeated… and the most serious issue we’re dealing with is global climate change. However, it’s important to look at the big picture and see it for what it really is.

  • Obama touts creating 14 million jobs in the last 70 months, ignoring the jobs that were lost or not created because of an increasingly anti-business philosophy that leads to draconian and random regulatory burdens in every industry.
  • He speaks of lowering deficits but ignores the $7.6 trillion dollar increase in our national debt since he took office, a 77% increase and nearly $600 thousand dollars for every one of those 14 million jobs.
  • He said in the State of the Union that anyone who disagrees with his rosy view of the economy is “peddling fiction.”

Let’s look at the facts. According to Dawn J Bennet, “Median household income is down over 7% from 2007 levels, meaning that American families are worse off, on the whole. The money-printing policies of the Federal Reserve have disguised the basic fundamentals that should be driving markets and economic decisions, and the chickens are finally coming home to roost, as we can see by what has happened in the equity markets since the beginning of 2016, the worst start to a year we’ve ever seen.”

“As recently as a few months ago, so many investors, and even professional money managers, were still bullish on the markets,” said Dawn Bennett. “More and more are coming around to the old adage: If it walks like a bear and has claws like a bear, then it probably is a bear market. And you don’t sit and wait to be attacked in that case… you back away quietly before running like hell. Some of the most iconic market callers around have started talking about this. George Soros, speaking at an economic forum in Sri Lanka last Thursday, addressed global markets including the United States, and said that investors needed to be cautious, concluding that ‘I would say it amounts to a crisis which reminds me of 2008.'”

She continued, “President Obama, Congress, the Federal Reserve, and all of their media mouthpieces continue trying to sell us a view of the economy that is provably false. We can see that our lives are not getting better, so why do they keep trying to convince us that they are? And now, the markets are finally coming to the same conclusion, so we need to be ready for the bear.”

Read the full article from Dawn Bennett here: http://www.releasewire.com/press-releases/dawn-bennett-writes-article-if-it-walks-like-a-bear-and-has-claws-like-a-bear-regarding-the-economic-market-658991.htm

Dawn Bennett Writes Article, “The Year Ahead,” Regarding the Economic Year Ahead

Dawn J Bennett, CEO and Founder of Bennett Financial Services and host of Financial Myth Busting, recently published an article titled “The Year Ahead,” regarding the economic year ahead and her financial predictions for 2016.

“I’ve been saying for over a year that the so-called “recovery” being promoted by the government and mainstream media is propaganda to cover failed policy initiatives from both the White House and the Federal Reserve,” said Dawn Bennett. “Real Americans just aren’t seeing the supposed benefits. A good example of this is this year’s holiday retail numbers. Consumer spending is especially important to the United States, because it makes up 70 percent of our GDP, and holiday retail sales have been disappointing if not depressing.”

“Looking at the numbers from credit card companies, Black Friday sales were down by nearly $1.2 billion, which is good neither for the retail sector nor the economy as a whole. Why? Well, aside from the obvious facts that we simply don’t have the money or the job security to spend-spend-spend, there may be other reasons. AlixPartners, a consulting and research firm, took a look at consumer spending trends over the last year. They reached the conclusion that weak holiday retail numbers are partially a result of upper-middle class shoppers being scared by a fluctuating stock market and waiting until the last minute to shop. And with 300 point drop in the Dow last Friday, it seems like that volatility will remain a factor for even last-minute shopping. Reuters reported that sales growth for the holiday season is expected to be half what it was last year at this time. It seems like high income and low income families alike will be spending less on the holidays this year.”

Below are Dawn Bennett’s predictions for 2016:

  • Prediction 1: The Fed will continue tightening monetary policy (not a one-and-done rate hike) until our fragile economy rolls over even more.
  • Prediction 2: The junk bond asset class is going to continue to liquidate. This started in August and September of this year, but really became apparent in the last several weeks. The media hasn’t given it much focus, but they should, since every major crash traditionally starts with a single asset class the first domino to fall.
  • Prediction 3: Corporate profits and revenues will continue to be weak, along with manufacturing and exports in general, pointing to the fact that we are already in a recession.
  • Prediction 4: The Fed’s rate hike will prove to be very painful. It will continue to soak up liquidity for 2016, which could be as much as $800 billion in excess liquidity taken out of an already fragile and illiquid system.
  • Prediction 5: Greece’s problems will become exponentially worse and Europe’s along with them.
  • Prediction 6: Gold and silver have a strong potential to rise 25 to 50%.

Read more from Dawn J Bennett here: http://www.releasewire.com/press-releases/dawn-bennett-writes-article-the-year-ahead-regarding-the-economic-year-ahead-652454.htm

 

3 Big Reasons to Plan Ahead for Retirement

If you are young now, you’ve probably heard financial analysts like Dawn Bennett talking about the many reasons to plan ahead for retirement. The realities are scary: a great deal of new growth is in low-paying jobs like retail, and many of those employers don’t offer full time or benefits to most employees, forcing them to work multiple jobs to make ends meet. Because of this, and the increasing cost of living, many twenty-somethings are still living with their parents as a matter of practicality. These facts are unattractive at least, and frightening at most. Here are some of the factors that make planning ahead for retirement an absolute necessity in today’s economic climate:

time to retire stopwatch

Interest Rates Aren’t Rising

We have a lot of debt as a country, something that most people are aware of. Increasing the amount we owe by raising interest rates seems like a bad idea in that context; however, it may be necessary to combat our increasing debt levels. Essentially, we have to pay off the money at some point, but since we have made very few inroads in that regard and simply keep raising the debt ceiling, Americans will continue to see higher costs of living. With most jobs unwilling or unable to provide the kinds of wages that will support people in this climate, the middle class will continue to disappear and the poor will get poorer. Every penny that you can put aside for retirement now is an investment in your future comfort.

Retirement Age is Rising

Since people aren’t able to save as much early on and pensions are being cut, many seniors are working well past the traditional retirement age so that they can afford to live. While there are still some who can retire at 65, for most people that just isn’t the reality anymore. In addition, the technical age at which you can receive full social security benefits is rising to 67 for people born after 1960. And there have been predictions that it will rise even higher for newer generations. This is a disturbing idea, especially for younger people, so it’s important to start putting away money now and making investments to ensure that you have something to fall back on when you are older.

Social Security is a Safety Net – and It’s Being Threatened

There are several politicians out there who would like nothing better than to get rid of social security entirely. Why? Well, it depends on who you are talking about but, in many cases, the argument is that the money could be used to help pay off our debt and bolster other areas of government spending. The problem with this notion is that social security isn’t really big enough to make a dent in our national debt. But it would look good to some people – until they retired, that is. While it’s unlikely that the system would or could be taken out of commission entirely (as doing so would put a lot of people on the street), it’s not a bad idea to have a contingency plan in case the program sees drastic cuts.

Can the U.S. Realistically Be Like Denmark?

Those who have been following the Democratic side of the presidential race will notice that Bernie Sanders has been directing a great deal of the discourse, whether he has been leading in the polls or not. Clearly, people want change and many of them are looking to the person advocating the most radical moves. Sanders’ staunch cries for more government-funded programs, education, and healthcare, have struck a chord with citizens and have influenced even middle-of-the-road Hillary Clinton to start talking about how she would handle these issues.

Denmark map

Specifically, Sanders has compared our system with that of several Nordic countries like Denmark, which all share a rather more social system than exists in the U.S. These nations are well-known for their embrace of socialized healthcare and higher education, as well as their high quality of life, notable lack of crime, and the general contentedness of their populace. Despite Denmark’s record of success, however, many Americans and financial analysts like Dawn Bennett wonder whether the same principles could be applied to the United States effectively. After all, we have some very unique conditions and demographics that many believe would foil such a system.

For instance, while Denmark’s population tops out at 5.6 million people over 16,639 square miles, America has 321.7 million people spread over 3.8 million square miles. Not only are the people more spread out, but the types of people in the country are much more diverse as well. Denmark has had a very stringent immigration policy in place for years, which doesn’t allow for the entry of as many low-income workers and also doesn’t welcome as many people of different racial backgrounds. This obviously doesn’t mean that we should be pursuing a no-inclusion policy for people of foreign origins, but it does mean that we have some complications to work out that Denmark never really has to face.

On top of all that, there is the inevitable burden of higher taxes that would accompany any move towards socialized healthcare and education. Those living in these Nordic countries pay what would be considered insane amounts of taxes when compared to those we face (about 40% of income for a single person in Denmark). The tradeoff is that when it comes time to go to college or send a child there, neither parents nor students will have to pay. That $100,000 that has become a common expenditure for college-goers here would be completely covered – as would any emergency care or regular healthcare checkups, maternity leave, dental, etc.

While these services sound good, the question of whether or not our already fragile middle- and lower-classes could handle a higher tax burden is one that cannot be lightly dismissed. Bernie Sanders has laudable ideals and some interesting notions, but finding out whether his plans are practical would involve some risk-taking that the country may not be prepared for.

Dawn J Bennett Interviews Tres Knippa, Member of the Chicago Mercantile Exchange

Just recently, Dawn J Bennett of Financial Myth Busting interviewed Tres Knippa who has been trading futures in currency markets for 17 years, and became a member of the Chicago Mercantile Exchange in 1996. Bennett believes there is a currency war going on that most have no even recognized, much less understand. Bennett stated, ” I believe most economists and analysts and investors out there believe that the currency war that we are in refers only to the competitive devaluations that nations engage in to boost their economies. At this time, I’m beginning to see that it’s much more profound than I think people are giving it credit for. I believe there are differing agendas out there that revolve around one goal, which is the demise of the US dollar as the international reserve currency of choice.”money3

Knippa responded with the fact that the Chinese devalued the yuan in August, an offensive move – they’re trying to spur exports. “But weakness in other currencies can be a side-effect of a government that is mired in debt,” said Knippa. “Now, clearly that will dovetail into the U.S. dollar discussion, but in a situation like Japan, the Japanese are not devaluing the yen because they’re trying to make something positive happen. The Yen is devaluing because they have so much debt that the market does not want their bonds. And here, if you start with politicians, you and I can probably agree that there is a massive disincentive for politicians to cut spending. So it’s not going to happen; we can forget that. The politicians are not going to cut spending, ergo more debt will be on the balance sheet. They’re going to issue more debt to pay for that spending, right?”

Now the savior is the central banks.

Bennett asked Knippa if he believes that a currency should be policy neutral without any regard to any party to it, so that it can be a true medium of exchange and whether or not that is what is currently going on in the United States.

Knippa replied, “Well, like I said, currency movements tend to be side effects of those decisions, you know. But by the same token, they can also be policy tools. Governments can say, ‘Oh, I don’t want to cut spending, so I will go this other route,’ and, ‘A devaluation of your currency, why is that any different to a tax?’ Things like that. This will clearly dovetail into a discussion about inflation. So if we want to talk about policy decisions, how odd do we think it is, from a policy standpoint, that Janet Yellen and other central bankers continue to target inflation as a specific policy goal? I find that a little weird. Inflation is a negative side effect. Now, it can be a positive side effect of growth, but in this case, just targeting inflation seems rather odd; why wouldn’t you want to target growth?”

Read the full interview between Dawn J Bennett and Tres Knippa here: http://www.releasewire.com/press-releases/dawn-bennett-host-of-radio-show-financial-myth-busting-interviews-tres-knippa-member-of-the-chicago-mercantile-exchange-629882.htm.

Comparing the Current Financial Economy to Death Spirals and Skinned Knees

Last month was eventful. Puerto Rico defaulted on debt payments for the first time while US wage growth and earnings reports relented more disappointment. Canada reported that for the past four months, economic growth continued to shrink and the Federal Open Market Committee once again issues a statement hinting at interest hikes coming soon. Feds continued to try and reassure investors that they would never fall down and no skinned knees would be involved but the current events prove differently. To break it up simply:

  • “America’s Greece,” Puerto Rico, defaulted for the first time on debt payments, missing payment on $58 million of their $72 billion dollars of debt. Residents continue to flee, making things even worse as the tax base shrinks and President Obama has said that there will be no bailout from the Executive Branch. Even if some havoc results in the markets, it is time for us to start standing on our own two feet, taking the skinned knees that come with the uncertainty of life, markets and economies. China, Brazil, Canada, and Greece also are suffering.
  • Wage growth and earnings reports continued to disappoint. The United States is on the edge of a recession and it may even be the inside edge.
  • The Federal Open Market Committee issued a nearly unchanged statement that hints at interest rate hikes in the near future.

Early in the summer, Garcia Padilla, the governor of Puerto Rico, compared the territory’s debt situation to Greece, starting it was a “vicious death spiral” – the debt was simply unpayable. He continued, “This is not politics, this is simply math.”

Despite persistent and pervasive central bank manipulation of economies, the news from the world is so consistently disappointing that we all need to own up that it’s time to stop adjusting the markets and let them find their own free-market price discovery levels. The job growth in the headline numbers is a surge in low-paying jobs, while high-paying manufacturing jobs are being crushed.

Dawn J Bennett, founder and CEO of Bennett Group Financial Services and host of the radio show Financial Myth Busting with Dawn Bennett discusses in further depth the financial crises, using euphemisms like “death spirals” and “skinned knees.” Read the full article here.

Why Japan’s Economic Hardship Matters to the U.S.

In light of recent outrage over Japanese Prime Minister Abe, Tokyo is awash with protesters and Abe’s approval rating has dropped by 39%, which has financial experts like Tres Knippa, member of the Chicago Mercantile Exchange, questioning Japan’s economic stability.

In a recent interview with Dawn Bennett, host of the nationally-syndicated talk radio show “Financial Myth Busting with Dawn Bennett”, Knippa argues that the stability of the Japanese economy is not just called into question as a result of political unrest; the Bank of Japan’s  increased purchase of government bonds is also cause for concern, given that the purchases are being made out of necessity, not as a part of some larger plot to weaken currency and ease fiscal policy in the fall. The bank is purchasing government bonds because there’s simply no other market for them.

Japan currently suffers from crippling debt and spends twice what it actually brings in tax revenue. Japan’s aging population isn’t helping matters. Knippa points out that what Japan needs more than anything else is additional bodies, not more currency.

A Lesson for the U.S.

Japan’s economic woes are unfortunate, but they have a larger significance, particularly for the United States. In many ways, Japan’s economic situation reflects the likely future of the U.S., as Japan was set on the same course of economic upheaval with a housing market that burst, a government bailout and subsequent low interest rates 16 years ago. In other words, we can expect something very similar in the near future if we don’t change course and reign in unwieldy government spending, which is what Japan failed to do, too. Heightened government spending in the face of growing public demand only exacerbates the economic challenges faced.

Japan’s economy shrank in the second quarter by 1.6% with decreasing exports (a decrease of 16% year-over-year), and while some speculate that Japan’s economy is suffering the consequences of a weakening Chinese economy, the influence of its housing crash, government bailout and zero interest rate policy can’t be ignored.

Interestingly, there may be an immediate upside to Japan’s economic crisis for those in the U.S.  Knippa notes that it can be wise for individuals to borrow from weakening currency like the yen. For example, if an individual takes out a mortgage in yen on a rental property (as Knippa did himself), but collects the rent in dollars, the mortgage principal decreases faster as the yen is devalued and the dollar strengthens. Knippa also advises that when investing in a sinking currency like the yen, it’s imperative to guard against the risk with a large investment in something more stable like gold.

Ultimately, though there’s a bright side for international investors in the short term, Japan’s weakening yen and overwhelming debt should serve as a warning to the U.S. above all else.

 

 

Bennett Group Financial Services LLC, based in Washington, D.C., is a comprehensive financial services firm committed to providing opportunities to clients’ as they seek long-term financial success. Its customized programs are designed with the potential to help grow, lower overall risk and conserve client assets by delivering a high level of personalized service and skill.

For more information, call 866-286-2268 or visit http://www.bennettgroupfinancial.com

Securities offered through Western International Securities Inc. (WIS), member FINRA/SIPC. BGFS and WIS are separate and unaffiliated entities.

About Dawn Bennett

Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting http://www.financialmythbusting.com

She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.

She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett ordbennett@bennettgroupfinancial.com

 

Economic Teachings from Ancient Greece

How much can be learned from the past? Quite a lot, according to financial expert and experienced money manager Dawn J Bennett, host of the “Financial Myth Busting with Dawn J Bennett” radio talk show. In Greece’s current climate of turmoil, which threatens to send economic shockwaves throughout Europe and the world should it succumb to economic failure, Bennett sees lessons of the past as highly applicable to the Greece of today.

How can Greece, with its closed banks and impending July 30th payment to the International Monetary Fund, take a few pages from history as it attempts to move forward?

  • Wisdom from the Oracle of Delphi

While the story of the Oracle of Delphi features some interesting “words of wisdom” from priestesses like Pythia, there are two truly important messages to take from the story: “know thyself” and “nothing in excess.” As Greece navigates the difficult waters of the terms of its latest bailout agreement, which include even more tax and pension reforms—both its creditors and itself should keep these dictums in mind and refrain from actions that are either extreme or a poor fit for the struggling nation.

  • Homer’s Odyssey

The story of Homer’s journey following the fall of Troy exemplifies the power of persistence and determination. When Homer returned home to find his house occupied by 108 suitors vying for the hand of his wife, he didn’t back down; rather, he fought and was successful. Bennett sees Homer’s resilience in spite of unlikely odds a beneficial attitude for the present-day Greek government and citizens. Numerous signs—including a skyrocketing suicide rate and greater dependence on welfare—suggest that some Greeks are simply giving up. If Greece hopes to bounce back from its depths of despair, it will need a healthy spirit of determination to do so.

  • The Questions of Socrates

Socrates was a man known not only for his wisdom, but his questions. He cross-examined practically everyone he met as a way to learn more about the world around him and heighten his wisdom. The lesson here is that asking questions of others can lead to greater knowledge and insight, and is essential when attempting to understand complex problems. It’s unlikely that anyone will have all of the answers; but the answers they do have can shed valuable light upon a situation. Greeks must remember this aversion to “accepted wisdom” and refrain from taking statements from governments and central banks as gospel without asking questions of their own.

  • The Teachings of Heraclitus

One of Heraclitus’ most well-known teachings includes the dictum, “You can’t step in the same river twice,” which refers to the belief that the universe is in a constant state of change. Bennett believes that Greece should take a revised perspective of this teaching in the upcoming weeks as the Greek market experiences intense fluctuations; change may coming, but solid ground—whatever it is that can be an economic back up or constant (like gold)—is key.

Will Greece pay mind to these important lessons in the coming months? Though Greece reached an agreement with Eurozone creditors to continue bailouts after a marathon summit on July 12, it still faces a slew of economic hurdles. Legislation must be passed immediately to reform the nation’s tax and pension systems, as well as liberalize the labor market, and Greece must learn to adjust in the aftermath. The lessons of its ancient history couldn’t be more pertinent.

Bennett Group Financial Services LLC, based in Washington, D.C., is a comprehensive financial services firm committed to providing opportunities to clients’ as they seek long-term financial success. Its customized programs are designed with the potential to help grow, lower overall risk and conserve client assets by delivering a high level of personalized service and skill.

For more information, call 866-286-2268 or visit http://www.bennettgroupfinancial.com

Securities offered through Western International Securities Inc. (WIS), member FINRA/SIPC. BGFS and WIS are separate and unaffiliated entities.

About Dawn Bennett

Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting http://www.financialmythbusting.com

She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.

She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett ordbennett@bennettgroupfinancial.com

 

Bennett Group Financial Services, LLC