5 Things to Do to Get Rich in 2024 (Realistic Advice)
Joe Biden's economy is honestly pretty amazing
How do “independent thinkers” and gurus completely ignore the fact that:
Real wages have not increased since the 1970s
The banking system has been straight robbing everyone for 50 years and only makes it possible to get rich one way. (More on that below)
These two mathematically certain factors represent a crisis larger than any previous war, any terrorist attack, any natural disaster.
Almost all of society needs to devote crisis-level resources and energy to deal with these problems, and we’re sleepwalking.
Is normalcy bias that hard?
All this is to say the window for generational wealth is closing.
So I want to give you five easy things to do to get rich in 2024.
1. We’re All Debt Slaves
2008 changed everything.
By 2008 every major country had more debt than their GDP.
Normal people like you and me were in the same boat. Households: record high debts. Corporations: record high debts.
Raoul Pal, the CEO of Real Vision Finance, has a theory about this on YouTube that you need to watch. The upshot is Baby Boomers entering the workforce in the 1970s was the largest demand shock the world had ever seen.
Because of this, people had to start taking on more debt to feel richer.
Now, we’re in a perpetual boom-and-bust debt cycle where if one market fails—say real estate, for example—it takes down everything because there is so much debt in the plumbing. The only way for the Fed to prevent this is to continually print money and pump assets.
The gap will keep widening. There is no middle class anymore. So buy this…
2. The Number One Asset to Buy
Technology and crypto.
Here is a chart:
There’s a better chart that has traditional retirement accounts, energy stocks, and precious metals all next to each other on a graph… and five inches up above everything is this small dot. That small dot is Bitcoin.
Wealth inequality has risen exponentially in the exact same time frame that wages haven’t risen. This means the rich will become super rich.
The poor will become super poor.
We live inside a Blade Runner movie.
The exponential riches that will be doled out between now and 2030 only make sense because: 1) Tech is everything 2) Debt is also everything
They can’t let the system fail. We’ll keep going up. And don’t let my personal biases as a crypto investor sway you; there are multiple paths to get rich.
I like the definition by
, tech stocks, crypto, and real estate are all “inflation antennas” or escape valves to unlocking wealth.3. Has the Market Gotten Ahead of Itself?
“Inflation is always and everywhere a monetary phenomenon.”
— Milton Friedman, Godfather of libertarian economics
The S&P 500 continues to do what it does best—separating the wheat from the chaff. Lately, it's been all about oil services and energy breaking out to new all-time highs, signaling a shift in market momentum.
Gold has also hit new all-time highs.
All this is to say, just because tech has a good long-term horizon, doesn’t mean it won’t have pullbacks. Particularly with giants like Nvidia and Bitcoin leading the charge, there's a sense that it may be overextended.
Overall, since the November Fed meeting, the US stock and bond markets have added a historic $13.5 trillion.
For comparison, the value of the US economy (GDP) is ~$27 trillion.
This means that the US stock and bond markets surged by more than 50% value of the US economy in just five months.
4. Why Two Weeks Might Be the Time to Invest
Are you wondering when Bitcoin will go bullish post-halving? Mark your calendars for approximately a week after the Halving Day around April 20.
In 2020, the bull run did not kick off on the Halving Day itself. In fact, just a day after the Halving, Bitcoin plummeted by -40%.
This suggests that post-Halving, the market sentiment, as reflected in the Fear and Greed Index, will result in a "sell the news" phase before any bull run starts.
Yet, rest assured - the supply shock introduced by the event will take effect with time - and bullish investors expect BTC to reach $200k during 2025.
5. It’s the Economy, Stupid
Bill Clinton once said, “It’s the economy, stupid.”
This phrase has held up over time because no one wants to re-elect a politician during a recession.
The US Presidential elections are coming up later this year and Biden (and the Fed) will do everything to get the economy right. Even fake articles will do… the chocolate ration has increased from 40 grams to 35 grams.
Yeah, it's amazing how much more I'm paying for gasoline and groceries. It's amazing how much less money I'm saving every single month. It's amazing how even getting a promotion, raise, and then another 7% raise at the end of the year still hasn't closed the gap on my cost of living increases due to inflation.
No US President would really fair better than Biden, but rest assured the Fed will give out cookies—stimulus packages, student loan forgiveness, credit forgiveness, something—by the end of the year to make you vote. Thank you masters.
Bottom Line
Read this, then read it again.
It’s really all you need to get rich this year and beyond. It’s like Scott Adams once said, “Find out what you want, find the price of it, then pay it.”
That’s life and investing in a nutshell. Good luck out there; stay safe.
Ever since I was a child it has been my dream to become a financial advisor. Unfortunately, it never came true. Therefore I am not a financial advisor and you should do your own research and not just listen to random people on the internet. Nothing contained in this publication should be construed as investment advice.
That Raoul Pal video is excellent speaks my language!!!