Monday, August 19, 2024

Lessons from a dejected eighth grader

How the Jackson Hole Symposium really works
 
   
     
   
 
AUGUST 19, 2024
   
Editor’s Note: Make SURE you catch Jack Carter’s “10 AM Income Project” TODAY! This breakthrough tool could predict the next crash, AND he’s sharing a FREE trade idea in today’s briefing. Catch it here — Starting Soon!

Hey y’all,

Back in eighth grade, my class took a big trip to Grand Teton National Park. 

It was sort of an “end of middle school extravaganza,” and, of course, everybody wanted to go. 

Now, any of you who know how big a nerd I am won’t be surprised to know that I was a pretty good student in middle school. So I felt good about my chances to get on the trip. 

That is, until they revealed that they wouldn’t be choosing based on merit, but instead, a lottery system, since that’s the only method that was “fair.” 

Of course, you still had to apply and write an essay to get into the lottery, but as far as I know, nobody read or cared much about either one. They just drew the numbers.

And as you might have anticipated, my number wasn’t drawn.

In my memory, many, many more people were chosen than were left behind. But I spent a week in a ghost town of an eighth-grade hallway thinking to myself about all the kids who got to go who “didn’t deserve it,” how unfair the whole system was, and how this “participation trophy” mindset was ruining a whole generation of kids (ok, I probably didn’t have THOSE thoughts until much later).

When everybody got back, I had to endure all their inside jokes about their experiences, hear all the memories made, see all the pictures. It wasn’t fun. It wasn’t “fair.” 

And I still haven’t ever gone to Grand Teton National Park.

 
 
(Looks lame… who would want to go there anyway?) 

When people mention Jackson Hole, the gateway to the Tetons, that story is always the first thing I think of. 

But as we’re gearing up for the Jackson Hole Symposium later this week, which takes place from Aug. 22-24, there’s a lot more to think about, too.

Headlines today are proclaiming that Fed Chairman Powell now has to choose not whether to cut rates, but by how much

Maybe that’s the case…

His seminal speech on Friday will give us a huge idea of what direction he plans to head in.

But as I think about the meeting, I can’t help but think back to how I felt in those empty hallways back in eighth grade.

Now, granted, the stakes are a lot higher for the Federal Reserve than for that 8th grade class trip. But still… that sense of “unfairness” lingers…

Later this week, a group of government appointees who were never elected will get to take a taxpayer-sponsored trip to one of the most beautiful getaways in the country to decide the economic future of the nation in a move that could potentially swing the looming Presidential election.

I gotta say, I don’t think that’s how the founders drew it up…

As always, though, we can’t fix the system, we just have to learn how to navigate it. 

Whether the Fed makes minor rate cuts, major rate cuts, or does nothing, you’re still going to have to safeguard your accounts and manage your trades. 

Sure, news like Friday’s speech can have a temporary effect on the market, but as we learned from our experts Thursday, these fallouts don’t last.

Just keep trading this week. Focus on the things that really matter. Listen to experts like Graham and Jack Carter who have worked hard to bring you the 10 AM Income Project today.

Those are the people who want to help! Not the folks taking free trips to Jackson Hole on your dime.

This isn’t really meant to be a rant against the Fed. Maybe it’s still misplaced anger from not getting to go on that trip in eighth grade! 😂

But in the end, I learned a good lesson: you can only control what you can control.

That’s as true today as it was in eighth grade. And it always will be.

To your prosperity,

Stephen Ground
   
 

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