Now that’s what I call Financial Independence! 27

First they said it was just a one off “to flatten the curve”.

We should be patient, they said. Just one more time, they said.

They’re taking the piss now. Enough is enough.

Yes, that’s right…The Escape Artist is back to review more classic songs about financial independence in the guise of a music critic from the NME…armed with earnest prose, psycho-babble and increasingly tenuous metaphors.

Proud Mary (Tina Turner)

Tina got herself a job working in the City, working for The Man every night and day.

She’d worked minimum wage jobs and realised that if you are going to work like hell, you might as well get well paid for it. The maths of compounding reward working long hours to get established early on in your career. Just make sure you stash the cash, convert into wealth producing assets and don’t work for The Man forever.

I defy anyone to watch this and not love Tina Turner’s energy and mojo.

Pump it up (Danzel)

Central bankers used to say that their job was to take away the punchbowl just when the party was getting started.

How quaint that now seems. Now The Fed spikes the punch with vodka and bullies the wimpy kids (cash savers, bondholders that were sat on the sidelines) into drinking it. Think Animal House but without the decorum.

First central banks and governments removed the incentive to save, then they pumped risk asset bubbles…and then they warn retail investors not to get involved with speculation. Go figure.

Pump up the Jam (Technotronix)

Here Technotronix explain how zero interest rates, quantitative easing and the threat of inflation all push investors out along the risk curve.

Shortly before the 2008/09 Global Financial Crisis, the CEO of Citibank (Chuck Prince) said that “while the music is still playing, you gotta get up and dance”.

Or, as Technotronix put it “get your booty on the dancefloor…make my day”.

Frankie (Sister Sledge)

Do you remember Frankie Fuckwit and his gambling habit?

Recently I’ve been getting some questions about why I changed my mind on crypto. What happened to Frankie? And am I now encouraging gambling?!?

No, as a general rule I don’t gamble because the odds are usually stacked against us. But when the facts and the macro environment (see above) change, I change my mind. What do you do?

The Gambler (Kenny Rogers)

Poker players understand the concepts of expected value and risk management. We can always be wrong so we have to estimate the odds and not bet so big that we can’t survive a loss.

I see buying Ethereum (ETH) as a fintech venture capital play. It’s a punt: a high risk bet that could go to zero. It could also 10x so there are asymmetric payoffs skewed to the upside. You need to size the bet appropriately or you could get rekt.

Poker players are like pilots. There are old pilots and there are bold pilots. But there are no old, bold pilots.

Here I Go Again (Whitesnake)

You can’t get to financial independence without doing things differently to the herd.

Unfortunately, most people would rather be wrong in a group rather than right on their own. If you want to understand the power of groupthink, I recommend the book Extraordinary Popular Delusions and The Madness of Crowds.

Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.

Not Whitesnake though who are made of sterner stuff. Great hair as well.

Not Fair (Lily Allen)

Here Lily Allen dunks on her Nice Guy boyfriend. He may be a woke “ally” but he’s clearly not cutting it in the bedroom. Funnily enough, Lily now seems to be looking for an upgrade.

There’s something you need to know about fairness. If you believe that the world is fair, you’re cruising for a bruising.  The universe does not care about our quaint little ideas of what is fair.  If you understand this, you’ll be more resilient. You’ll be more ready for the hard times when they come and better able to bounce back.

Shaddapa Your Face (Joe Dolce)

Nobody said it was gonna be easy. And one of the hardest things in life is not to complain, sulk and give up when things get tough.

The electrical interweb hums with the whiney entitlement of The Victimhood Olympics. So be it…but not on my watch and not on this website.

Keep On Moving (Five)

What’s the alternative to sulking when the world seems to be conspiring against you?

Well, everyday you move the ball a little further forward. No zero days. You are allowed to have a day at the beach. You are allowed to have a hangover. But everyday you do at least one thing that inches you forward. It could be anything: a bike ride, a workout, reading one chapter of a great book. Sending off that form you’ve been meaning to get around to. Anything that keeps you moving forward.


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4 comments

  1. ratspook · · Reply

    Nice one. Thanks for reminding me of these two in the same post:
    First they said it was just a one off “to flatten the curve”
    And
    “Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one”.

    Great DJ style link – probably the key to understanding our odd world today

    Matt

  2. Never realised how deep lyrics “Pump up the jam” had 🙂

  3. I’m impressed that you found Joe Dolce. I thought only Aussies of a certain vintage knew that song.

  4. Gwen Hamer · · Reply

    Tina…The Best!

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