Something broke in the world last August:
After more than 6 years of dependable steep upward appreciation in the stock market, it all stopped. August 2015 saw a sharp drop in stock values, which quickly rebounded — but to lower highs. Things more or less flat-lined until the start of 2016, when the markets started selling off in earnest.
What ended the party? We can speculate on the specific trigger (anemic global economic growth, the collapse in the price of oil, China's hard landing, central banks running out of options to intervene — the list is long), but one conclusion is becoming clearer with each passing day: The trend has reversed. The stability and relative prosperity (false or not) of the past 6+ years is now over. And we are now entering more turbulent times.
This observation is true for much more than the stock market. Last year was the hottest year on record as well as the highest in atmospheric CO2. Our oceans are acidifying at a terrifying rate, threatening all life within from tiny (but essential!) phytoplankton to large mammals. Our privacy and civil liberties are being stripped away at a faster pace than ever before. The US shale oil "miracle" has swiftly morphed into a gigantic capital destruction morass, and the coming losses could well plunge the country back into deep recession. Cash may well be outlawed soon.
The point being made here is: Change is coming.
As we say in the Crash Course, the next 20 years are going to look completely different from the past 20. While not all of the approaching changes will be bad, a lot of them are not going to be pleasant for the unprepared.
How prepared are you?
All of this makes this year's annual Peak Prosperity seminar at Rowe the most important one we've hosted in years. It's looking increasingly certain that time is now beginning to run short to get sufficient preparation in place before the next crisis arrives — be it economic, energetic or environmental.
At the seminar, you'll learn our latest thinking on the biggest risks we face in the near term, and develop a personal plan for prioritizing your actions over the coming months in developing sufficient resilience to face them without fear.
Just as important, you'll spend meaningful time in the presence of other like-minded people, who will inspire, inform and support your efforts. We always say the relationships you leave with are easily the most valuable assets our seminar imparts.
This year in particular, we're seeing spots fill up at the fastest rate we've ever seen. And many of those signing up are active and long-time members of the site. So, if you're thinking about attending this year 1) it's shaping up to be an excellent crew of PP community members, and 2) you should consider registering soon. We sold out of spaces last year and if the current pace continues, we'll sell out much sooner this year.
We hope to see you there from April 14-17th. This is always our favorite weekend of the year, and this year is looking to be one for the record books…
Adam, Chris & Becca