After branding Governor Janet Mills too old and too boring, the Democratic left allowed Graham Platner to march forward as their party’s nominee for a seat in the Senate.

Despite Platner’s Nazi tattoo, his boorish behavior, new revelations of his extramarital sexting, and obnoxious social-media posts, Maine Democrats shrugged off the risk.

As Kimberley Strassel notes in the WSJ, this was amateur hour for Maine Democrats, who shut the door on Maine’s best pickup opportunity this fall—the race against sitting GOP Sen Susan Collins.

Sen. Bernie Sanders also endorsed Graham Platner, and Ms. Strassle notes.

Democrats have spent a decade deploring Mr. Trump as unfit for office. In nominating Mr. Platner, they’ve tossed aside that standard, in favor of one that says any candidate is acceptable who can win for their side, no matter the record or behavior.

Slouching Forward
Debbie Young

You are living in a “haves and have yachts” world, with the “haves” being the steady economy and the “have yachts” being the rock star stock market. They aren’t running at the same pace. But that’s where we are.

Whether this divergence continues is the question. It’s why if you’ve won the war and are in or heading into retirement, developing a plan where you can be invested and stay invested is paramount.

Now, as you know, Your Survival Guy wants you to take the trips and spend some money. But it’s not cheap. Going to Paris? Bring your euros and plenty of them. But don’t miss the boat by not going, thinking prices will be lower next year. They probably won’t be. And you’ll be a year older to boot.

Which brings us to prices for stuff we need to live day to day. Inflation is a thing. And the idea of stripping out food and energy in calculations is the typical stuff you get from economists who don’t live in the real world. Stuff we need to survive and thrive isn’t getting cheaper either. But innovation has a way of deflating prices. Look at the potential for clean coal and the demand for more power.

America has an immediate need for more power to feed the growth of artificial intelligence data center demand. Big tech firms prefer nuclear generation that doesn’t emit any pollutants, but a large scale ramp up isn’t imminent, as it takes so long to add nuclear capacity to the grid. The next choice would be natural gas, but turbine producers are already running near maximum capacity. Recently, they’ve announced plans to increase capacity, but that could take some time. Utility Dive reports:

• Mitsubishi Heavy Industries plans to double its manufacturing capacity of gas turbines over the next two years in response to spiking demand and a backlog of orders, Bloomberg reported Sunday. Average wait times for gas turbine delivery have recently increased by several years.
• GE Vernova, another gas turbine manufacturer, announced on Aug. 19 that it is investing $41 million to enhance the manufacturing of its H65 and H84 generators, used in the company’s HA gas turbines. Siemens Energy, another gas turbine manufacturer, announced in December last year that it’s adding 61,000 sq ft to a facility that makes blades and vanes for its turbines.
• “An individual [original equipment manufacturer] doubling production could increase overall output by 15-40% based on historic data,” Bobby Noble, senior program manager of gas turbine research and development at the Electric Power Research Institute. “It should help over time, but it is likely not enough to drastically reduce [wait times].”

With long wait times for nuclear and for gas turbines, power producers may look to inexpensive coal generation. Energy Secretary Chris Wright and the Trump administration are supporting coal with a renewal of the National Coal Council. The Energy Department announced recently:

U.S. Secretary of Energy Chris Wright is advancing President Donald J. Trump’s commitment to reinvigorating America’s coal industry by renewing the charter for the National Coal Council (NCC), a Federal Advisory Committee that was terminated during the Biden administration. This follows the President’s April 2025 Executive Order, calling for America to take aggressive action on coal. The coal industry supports hundreds of thousands of jobs and adds tens of billions to the U.S. economy each year.

Coal production has long been the backbone of American energy prosperity, ensuring affordable and reliable power. As electricity demand surges, driven by manufacturing growth and the expanding needs of artificial intelligence and data centers, the NCC will provide critical guidance on coal’s role in strengthening the U.S. energy landscape.

On a BTU basis, coal from Wyoming’s Powder River Basin is much cheaper than natural gas, nuclear, and oil in the United States.

But war and politics have a way of scrambling signals from what might otherwise be an orderly economic cycle. When the data feed is full of noise, sometimes clearer pictures can push their way through. Here are some of the things Your Survival Guy is paying closest attention to.

First, oil. It seems like it should go without saying that with a war in Iran, oil, and more generally traffic through the Strait of Hormuz of all products (including fertilizers and plastic feedstocks) needs to be front and center in the minds of anyone looking at the global economy.

WTI crude oil prices have oscillated wildly since the United States and Israel began their war on Iran. Prices closed at $95/barrel last night, a major increase compared to this time last year, when WTI crude closed at $64.5/barrel.

The high oil prices haven’t dampened retail sales, which grew for a sixth consecutive month, though some retailers, like Walmart, are warning about the future. Walmart CFO John David Rainey told CNBC that consumers could feel more pressure now that tax refunds are spent. He said, “I think higher tax returns muted some of the pressure related to higher fuel prices and as we’re in a period of time right now where those tax refunds are largely not coming in, I think consumers are going to feel more of that pressure from higher fuel prices.”

Another cost of the war has been an increase in shipping prices. Both the Baltric Dry Index and the Drewry Shipping Index have climbed since the war began. Costs of shipping and higher oil prices are adding to rising inflation. Year-over-year CPI came in this morning at 4.2%. The highest reading since April of 2023 (during the Bidenflation spike).  With rising inflation in mind, the market for treasuries has driven long bond yields up over 5%.

Despite inflation fears, the economy is still moving. Average weekly hours for manufacturing workers are climbing. Higher hours for manufacturing workers are indicative of overtime shifts, while a decline in hours can coincide with a coming recession.

The RAGE Gauge remains elevated as a strong stock market vies with an unsettled world, and consumers who aren’t feeling great about the economy in the face of inflation for dominance over American investors’ sentiments.

Action Line: In times of uncertainty, the best way forward is usually having a plan and sticking to it. The economy is moving, but there are risks. Prepare yourself accordingly. When you want help, email me at ejsmith@yoursurvivalguy.com.

Originally posted on Your Survival Guy.

Your Survival Guy’s RAGE Gauge: Develop a Plan
E.J. Smith - Your Survival Guy

David Kirichenko of The National Interest argues that Ukraine is becoming increasingly aligned with the Nordic countries, not geographically but strategically. Since Russia’s full-scale invasion in 2022, countries such as Sweden, Finland, Denmark, and Norway have emerged as some of Ukraine’s strongest and most reliable supporters. Sweden’s decision to provide Saab JAS 39 Gripen fighter jets to Ukraine is presented as the latest example of this growing partnership.

Beyond military aid, the relationship is based on shared values and security concerns. Nordic countries view Ukraine’s struggle as a defense of democracy, freedom, and the rule of law against Russian aggression. At the same time, Ukraine sees Northern Europe as a dependable strategic partner, especially as relations with some Central European countries have become more complicated.

Kirichenko notes that historical links between Ukraine and Northern Europe exist, particularly through the Vikings and the Varangians who helped shape Kyivan Rus. However, historians disagree on whether Ukraine can truly be considered a Nordic country. Most argue that Ukraine has always been influenced by multiple regions and cultures rather than belonging to a single historical sphere.

Ultimately, Kirichenko concludes that Ukraine’s future is becoming increasingly connected to the Nordic region. Shared concerns about Russia, expanding military cooperation, and deepening political ties are drawing Ukraine closer to Stockholm, Copenhagen, Helsinki, and Oslo, making Northern Europe one of Kyiv’s most important strategic partners.

Ukraine’s Strategic Shift Toward the Nordic Countries
Steve Schneider

Whatever happened to “The Me Too” movement?

Good question. Especially with Maine’s pick for the Democratic Senate primary being Nazi-tattooed, vanity scallop man, scandle-plagued Grahm Platner. Platner will face moderate Republican Susna Collins in the fall runoff.

Maine Governor Janet Mills effectively handed the nomination to the scandal-plagued Graham Platner. Ending Mills own Senate primary campaign on April 30, effectively handed the nomination to Platner.

Platner likes to paint himself as a candidate outside the Democratic establishment. He joins other strong voices in focusing on working-class issues, including affordability, universal health care, and labor union issues (really).

Platner told National Review that he attributes his Reddit commentary to his struggles with PTSD following his time in Iraq and Afghanistan and has denied or dismissed the other accusations.

Hitting Rock Bottom
Debbie Young

War and politics have a way of scrambling signals from what might otherwise be an orderly economic cycle. That can somewhat explain the disconnected economic data you can find in Your Survival Guy’s “Charting Your Course.”

But when the data feed is full of noise, sometimes clearer pictures can push their way through. Here are some of the things Your Survival Guy is paying closest attention to.

First, oil. It seems like it should go without saying that with a war in Iran, oil, and more generally traffic through the Strait of Hormuz of all products (including fertilizers and plastic feedstocks) needs to be front and center in the minds of anyone looking at the global economy. WTI crude oil prices have oscillated wildly since the United States and Israel began their war on Iran. Prices closed at $95/barrel last night, a major increase compared to this time last year, when WTI crude closed at $64.5/barrel.

The high oil prices haven’t dampened retail sales, which grew for a sixth consecutive month, though some retailers, like Walmart, are warning about the future. Walmart CFO John David Rainey told CNBC that consumers could feel more pressure now that tax refunds are spent. He said, “I think higher tax returns muted some of the pressure related to higher fuel prices and as we’re in a period of time right now where those tax refunds are largely not coming in, I think consumers are going to feel more of that pressure from higher fuel prices.”

Another cost of the war has been an increase in shipping prices. Both the Baltric Dry Index and the Drewry Shipping Index have climbed since the war began. Costs of shipping and higher oil prices are adding to rising inflation. Year-over-year CPI came in this morning at 4.2%. The highest reading since April of 2023 (during the Bidenflation spike).  With rising inflation in mind, the market for treasuries has driven long bond yields up over 5%.

Despite inflation fears, the economy is still moving. Average weekly hours for manufacturing workers are climbing. Higher hours for manufacturing workers are indicative of overtime shifts, while a decline in hours can coincide with a coming recession.

Action Line: The economy is moving, but there are risks. Prepare yourself accordingly. When you want help, email me at ejsmith@yoursurvivalguy.com. And click here to subscribe to my free monthly Survive & Thrive letter.

Originally posted on Your Survival Guy.

The Many Mixed Signals of the Global Economy
E.J. Smith - Your Survival Guy

There hasn’t been a better test of America’s maritime economy and laws than the war against Iran. Not only is the U.S. Navy’s own fleet getting a stress test, but the stresses on global shipping and logistics posed by the war taking place in the strategic Strait of Hormuz chokepoint are also revealing some points of stress in America’s shipping and shipbuilding industries.

The most obvious sign of America’s failed policies is the need for and subsequent heavy use of President Trump’s waiver of the Jones Act. The Jones Act bars foreign ships and crews from making intra-United States shipping runs. The Cato Institute has been tracking Jones Act waiver transits, and was up to 95 voyages as of June 8. These trips supplemented Jones Act-compliant ships, making it clear that America would do more intra-country shipping via the ocean if it had the capacity to do so. Here are some findings from Cato:

• The Gulf Coast to West Coast fuel trade springs to life: In the waiver’s first 50 days, foreign-flagged tankers moved approximately 1.59 million barrels of energy products (excluding renewable diesel) from the Gulf Coast to the West Coast, which is roughly four times the volume moved by water on that route in all of 2025. In the waiver’s first 70 days, more gasoline and jet fuel were moved from the Gulf Coast to the West Coast than in the entirety of 2020–2025.
• Puerto Rico purchases US propane: No liquefied petroleum gas (LPG) tankers exist in the Jones Act fleet. As a result, Puerto Rico had been effectively barred from bulk US propane purchases and was forced to import from distant sources. The waiver opened the global LPG fleet to domestic routes, allowing bulk propane to reach Puerto Rico from the US mainland for the first time.
• Ammonia reaches American farmers: Three voyages have carried anhydrous ammonia — a fertilizer and key precursor to other fertilizers — aboard LPG tankers.
• Crude reaches Pennsylvania: The waiver’s first 60 days saw four movements of crude oil, both Bakken oil and West Texas Intermediate, from Texas to the East Coast. In 2017, the CEO of a Jones Act tanker company acknowledged that without the law, “there probably would be more movements of crude oil from Texas to Philadelphia.” The waiver has borne that out.
• Foreign vessels have supplemented, not replaced, the Jones Act fleet: With the Jones Act tanker fleet fully employed, each foreign-flagged voyage represents demand that would otherwise have gone unmet.

One reason the Jone Act was created was to protect American shipbuilding capacity. If it has helped, the evidence is uncertain, as the American shipbuilding industry is a ghost of its former self. In Foreign Policy, Mary Bridges discusses what she thinks should be done to rebuild American shipbuilding, and the plans of the Trump administration and Congress. She writes:

Whatever Washington intends, its ability to sustain its global maritime ambitions has eroded. For years, U.S. shipyards have delivered well under 1 percent of global commercial tonnage. Singapore, a country smaller than the Atlanta metropolitan area, built more gross tonnage in 2024 than the entire United States. Roughly 90 percent of U.S. military equipment moves by sea, but the country’s shipyards can no longer reliably build or repair the vessels required. The government’s fleet of military cargo ships held in reserve for wartime sealift now averages 46 years old, more than twice the typical lifespan of a commercial vessel.

It’s not that the United States cannot build ships; in fact, it had created one of the world’s largest merchant marines by the end of World War I and grew an industry that, at its World War II peak, could build the nation’s entire prewar commercial tonnage in three years.

Reviving that industry will take more than piecemeal grants, scattered foreign investments, or the commissioning of a prestige battleship class. A turnaround will only happen by using tools that have worked in the past: public investment and public support.

Bridges applauds President Trump’s Maritime Action Plan (read the whole plan below) and Congress’s SHIPS for America Act (read the text of the act below), but says they don’t go far enough. What Bridges really wants is direct public investment (i.e. subsidies) for the shipbuilding industry. She concludes:

But for U.S. strategic interests, a maritime world with more bottlenecks and adversaries creates foundational threats. Being at the mercy of foreign-crewed, foreign-flagged, and foreign-built vessels could threaten everything from access to jet fuel to medical supplies. Private capital won’t fix this. The absence of public commitment is what allowed the gap to open in the first place. Building a baseline of shipbuilding capacity can offset these risks by expanding the nation’s manufacturing resilience and protecting its military and commercial interests.

The shipbuilding industry did not have to die. Policymakers allowed it to collapse because the political consensus trusted the markets to sort everything out. The markets did their sorting, and China won. Reversing the decline will be expensive and time-consuming, but inaction—and the wrong actions—will cost even more.

Seen in that light, the question has less to do with whether the United States can afford to create public shipyards—it’s more about whether it can afford not to.

Read more here.

The Quest to Revitalize American Shipbuilding
Richard C. Young

The CRS In Focus report IF12495 explains the US Army’s M-1E3 Abrams modernization program, which is intended to replace incremental upgrades of the Abrams tank with a more substantial redesign.

It highlights that the Army is shifting away from older variants like the SEPv4 because further upgrades were adding too much weight and logistical burden. The M-1E3 is meant to be lighter, more survivable, and easier to upgrade using a modular open-architecture design.

The report notes that while requirements are still being finalized, expected features include improved armor and protection against drones—including FPV drones that have become a major threat on modern battlefields—potential hybrid-electric propulsion, greater use of AI and digital systems, and tighter integration with unmanned systems and battlefield networks. Some concepts also include reduced crew size and automation, such as the use of autoloaders.

Every Military on Earth Is WATCHING: The US Army Reinvents Its Main Battle Tank
Steve Schneider

UPDATE 6.9.26: In the Trump administration’s pressure campaign against Cuba’s communist regime, it has changed tactics compared to previous administrations on one very important point; the treatment of refugees leaving Cuba.

In the past, reports Gil Guerra in Foreign Policy, American administrations created a welcoming environment for Cuban refugees. Allowing safe passage to the U.S. for some of the Cuban regime’s greatest critics and their families reduced pressure on the communists, and was even encouraged by them in order to rid the country of potential dissidents. But now they are being forced to look for shelter in other places, as the Trump administration clamps down on refugees coming to the U.S. This could put greater pressure on the Cuban regime, and lead to unrest in the country. Guerra writes:

Shortly after taking office for his second term, Trump issued an executive order stating that “the policies, practices, and actions” of the Cuban government “constitute an unusual and extraordinary threat … to the national security and foreign policy of the United States,” owing to Havana’s ties with U.S. adversaries, including China and Russia. As a result of Trump’s hard-line Cuba policy, including a monthslong U.S. oil embargo, the island’s economic situation has further deteriorated. Inflation is soaring, basic goods are scarce, fuel is gone, and Cuba’s aging power grid is nearing collapse.

Read more here.

UPDATE 5.15.26:
The New York Times reports that CIA Director John Ratcliffe made a rare visit to Cuba to meet officials amid economic crisis and strained U.S.-Cuba relations.

He delivered a message from President Donald Trump saying improved relations depend on major Cuban reforms, while Cuban officials called for continued dialogue.

The visit is notable given long-standing Cold War-era tensions between the two countries.

UPDATE 5.14.26:

Barron’s reports that Cuba has ‘run out’ of fuel. Cuba is facing severe nationwide blackouts after the government said it has exhausted oil reserves needed for power generation, worsening an already fragile electricity system.

The crisis has sparked rare protests in Havana, with authorities blaming US sanctions and fuel import restrictions for the ongoing energy shortages.

UPDATE 4.24.26: Rep. Carlos Gimenez (R-FL): Cuba poses a security threat to the United States. President Trump has said, ‘enough is enough.’

Rep. Carlos Gimenez (R-FL): Cuba poses a security threat to the United States. President Trump has said, ‘enough is enough.’ pic.twitter.com/sjgZtXigCU

— Molly Ploofkins (@Mollyploofkins) April 23, 2026

UPDATE 3.31.26: Sovereign capitalism for Cuba? Fidel Castro’s grandson suggests that he would welcome a deal with the Trump administration.

NEW: While drinking a beer, Fidel Castro’s grandson says he is a capitalist and says if it were up to him, he would welcome a deal with President Trump during an interview with CNN.

“There are many people here [in Cuba] who want to have capitalism with sovereignty.” pic.twitter.com/zrIvQ6uH4Z

— Collin Rugg (@CollinRugg) March 30, 2026

UPDATE 3.27.26: Miguel Díaz-Canel said Raúl Castro is helping guide early-stage talks between Cuba and the United States, even as tensions rise amid sanctions, energy shortages, and a deepening humanitarian crisis on the island, according to Andrea Rodriguez of the AP. Rodriguez writes:

Former Cuban President Raúl Castro is involved in talks between the island and the United States, Cuban President Miguel Díaz-Canel said Wednesday. […]

Prolonged power outages and a near-paralysis of economic and social life are the visible consequences on the island, which in the last week experienced two nationwide blackouts that left millions without electricity as Cuba’s power grid continues to crumble. […]

Raúl Castro, who succeeded his brother, Fidel, as president, led historic talks with former U.S. President Barack Obama in 2014 that led to the reopening of embassies and re-establishment of diplomatic relations.

Trump has opposed such policy, tightening sanctions even further, exacerbating a deep economic crisis to the extreme of the current energy blockade. […]

UPDATE 2.24.26: Marcos Falcone calls the crisis currently unfolding in Cuba, “its worst yet,” and blames the Cuban government. He writes:

Daily life for Cubans is just as nightmarish. Recent videos filmed by locals depict an almost empty Havana, as the country’s capital can no longer afford to keep public transportation running. The federal government has mandated remote work, and universities are also operating virtually, though a lack of energy effectively means they have shut down. Food shortages, which have long been a part of Cuba’s reality, have become more acute.

The decline of Cuba’s economy is producing mass emigration, even more than in the past. A recent study suggests that up to 1.7 million Cubans fled the country between 2020 and 2024. That study placed the 2024 population of Cuba at 8 million people. For comparison, the 2021 US Census estimated the number of foreign-born Cubans living in the US to be 1.3 million.

Even though recent US action may be putting more pressure on Cuba, the dismal performance of the Cuban economy is a function of the Cuban Communist Party’s central planning, which has been uncontested since the establishment of the dictatorship in 1959. Supporters of the Cuban regime point to the 1960 US embargo as the source of Cuba’s economic problems. However, research suggests that between 1959 and 1989, the embargo was only responsible for “a trivial part (less than a tenth)” of the income loss that can be attributed to the Cuban Revolution. There is no reason to believe that the sanctions, and not communism itself, have played a larger role in the years since.

UPDATE 1.13.26: President Trump has put Cuba on notice that there will be no more money or oil coming to it from Venezuela.

“…THERE WILL BE NO MORE OIL OR MONEY GOING TO CUBA – ZERO! I strongly suggest they make a deal, BEFORE IT IS TOO LATE. Thank you for your attention to this matter.”- President Donald J. Trump pic.twitter.com/bHEIysJ7q1

— The White House (@WhiteHouse) January 11, 2026

To Avoid Capture, Go Somewhere Unknown

“If you are really trying to avoid capture, you go to places people don’t know about,” a former US military officer told the WSJ.

Escape: 101

“You wonder why Maduro didn’t go to some nondescript apartment in the middle of Caracas or the countryside.”

Intelligence is critical in protecting VIPs. Patterns of life, daily habits, and routine can seem mundane, but become critically important in helping to keep VIPs safe. For example, it is well known that Russian President Vladimir Putin goes to great lengths to maintain secrecy about his movements, residence details, or workspaces.

Become Unknown

Is there trouble for Havana’s leaders? Maduro’s capture was bad enough. There was more carnage. Cuba reported that 32 officers assigned to a safety detail for Venezuela’s strongman were killed. This doesn’t augur well for Cuba’s leaders.

Cuban intelligence, known for decades as Cold War stars, just had its invulnerability punctured.

U.S. elite forces descended on Maduro’s compound at around 2 a.m. local time Saturday, grabbing him and his wife before they could escape to a safe room, said Gen. Dan Caine, the chairman of the Joint Chiefs of Staff.

Cuba’s defeat indicates its weakness, according to María Werlau, author of “Cuba’s Intervention in Venezuela,” a book published in 2019.

Relied upon by the Soviet KGB for its extensive informant networks in Latin America and Africa, Cuban expertise to protect allies, detect unrest and suppress dissent became a lucrative export. After the collapse of the Soviet Union, Cuba’s security and intelligence services secured a lifeline from oil-rich Venezuela as Havana inched closer to economic collapse.

Old School Craft

Despite a U.S. armada threatening the Venezuelan leader for months from the Caribbean, how did Cuba’s security detail fail to defend Maduro? Perhaps even worse, Cuba’s security failed to inflict any damage on the Americans, points out  Jorge Castañeda, Mexico’s former foreign minister and author of several books about Cuba’s regime. “This means the Cubans weren’t where they needed to be, with the strength they needed to have.”

These intelligence flaws are likely to hurt the communist regime at home, writes the WSJ, especially should Cuba lose its economic support and subsidized oil shipments amid an unprecedented economic implosion.

“The people can go hungry, but the repressive apparatus must have privileges,” offers Enrique Garcia, a former Cuban intelligence officer who defected to the U.S. “If the regime loses all economic capacity, no system can withstand it.”

Is Cuba Ready to Fall?
Debbie Young

When your lazy cash is sitting on your couch, streaming shows, and eating all your food, it makes you wonder if it could lead a more productive life. One thought that comes to mind is using it for yourself, where you take the trips, and you enjoy the fruits of your labor. Yes, it’s expensive, but prices typically don’t come down for stuff people value. I’m here to tell you hotel room prices in Paris are not coming down.

There’s always competition for your cash. T-bills are more attractive of late, the stock market is always a temptation, but what about you? Saving ‘til it hurts your whole life can make it painful when it comes time to switch into spending mode. I’m here to tell you that if there’s something you want to do, now is as good a time as any to do it.

U.S. News and World Report has published a list of the best places to visit in the United States for 2026. The top 10 are:

1. Grand Canyon National Park
2. Maui
3. Honolulu – Oahu
4. Glacier National Park
5. Zion National Park
6. Yosemite National Park
7. Yellowstone National Park
8. Grand Teton National Park
9. Lake Tahoe
10. Kaua’i

Action Line: You and the family could put some of that lazy cash to work as you visit some of America’s finest locations. Now that you’ve saved so much, what do you plan on spending your money on? Where will you go? Let me know at ejsmith@yoursurvivalguy.com.

Originally posted on Your Survival Guy.

There’s Always Competition for Your Cash
E.J. Smith - Your Survival Guy

Originally posted March 11, 2020. 

There are few histories as crucial to the course of my life as my awakening to the power of compound interest and the importance of dividends. Since my decision to climb on the dividend bandwagon, I have been an evangelist to hundreds of thousands of paid subscribers, and many more investors beyond. My message has been consistent and clear, and I don’t regret focusing on dividends a bit. Here’s how it all started.

Back to Monterey and Woodstock

I’ve been developing investment strategies for investors like you before The Association kicked off the 1967 Monterey International Pop Festival with “Along Comes Mary” or Richie Havens opened Woodstock in August 1969. I started soon after John F. Kennedy was shot in Dallas in November 1963, and even before Dr. Martin Luther King, Jr. was shot at the Lorraine Motel in Memphis in April 1968. That’s a long time ago. The ‘60s was of course a seminal decade in American history. Key events, including the difficult investment environment of the ‘60s, seem like yesterday.

My 1964 Beginning

I’ve put together a display that tracks the Dow Jones Industrial Average through the decades. When I entered the securities business in the summer of 1964 (with Ed Rosenberg, Clayton Securities), I had no way of knowing that during my complete career in the Boston investment community, which ended in 1981, the Dow would end lower than when I began. How would you have liked to have retired in 1964 and faced a 16-year Dow downer? Talk about retirement financial hell.

As my display indicates, the decade of the ‘60s provided a sad annual average return (ex-dividends) of only 1.65%. Moreover, the 1970s were set to be even worse. When the curtain came down on this miserable decade, investors had scored an average return of only 0.5% (before dividends). Thankfully for conservative investors today, as has been the case well before the ‘60s and ‘70s, dividends remain the name of the game.

Ben Graham’s Powerful Investment Advice

After my first reading of Security Analysis by Ben Graham in 1963, it’s still my most powerful investment influence. Ben was Mr. Dividends. I became attached to the concept before I landed at Clayton Securities at 147 Milk St. in Boston’s financial district. As early as 1964, I knew I would concentrate on dividends throughout my investment career.

Originally posted on Young’s World Money Forecast.

Concentrate on Dividend Record and Compounding
Richard C. Young