Inspirational titans, including pro athletes, executives and best-selling authors, chime in on how to re-energize your 2019 resolutions and keep career and life goals on course
As we approach the second calendar quarter, we’re entering that precarious time when many begin to flail and outright fail with their New Year’s resolutions—no matter how impassioned or well-intentioned they were at the time of inception. This phenomenon is so pervasive that a litany of studies are “peeling back the onion” to reveal exactly why so many are unsuccessful in fulfilling career, life and self-enhancing promises we’ve made to ourselves.
One recent Psychology Today article reveals that there may be four specific reasons “you may be standing in the way of your personal growth.” These are goals that are unclear, or feeling overwhelmed, discouraged or not ready for the change. And, while having a backup plan is an anxiety-alleviating strategy often proffered by field pundits, an Elsevier-published study titled “How backup plans can harm goal pursuit: The unexpected downside of being prepared for failure” explores the notion that “the mere act of thinking through a backup plan can reduce performance on your primary goal by decreasing your desire for goal achievement.” Speaking of anxiety, failing at New Year’s resolutions just may be impacting your emotional health. A report published by ReearchGate.net correlates the “conflict between goals (inter-goal conflict) and conflicting feelings about attaining particular goals (ambivalence)” that are both “believed to be associated with depressive and anxious symptoms.”
Whatever the reason your own New Year’s resolution has veered off-course, it’s never too late to rally, turn the tide and start realizing some quick successes. But it does take a bit of concerted effort, ideation and bona fide grit to make those resolutions a reality. In an effort to pull back the proverbial curtain, I tapped a variety of high-achievers and “serial doers”—“Firestarters” in various industries and trades to share advice on what it takes to start, create and even disrupt in order to achieve goals. Their anecdotal circumstances and points of advice also exemplify differences between people who actually make things happen and those who only think about making impactful changes, but never quite get there.
#1: Be Persistent with a Purpose
Best-selling author, lauded corporate executive and sought-after motivational speaker Steve Pemberton recommends unleashing “the power of persistence” with visceral determination. Having overcome a litany of adversities growing up in the foster care system to ultimately become a C-Suite powerhouse for global leaders the likes of Monster.com, Walgreens and Globoforce, Pemberton has walked the walk when it comes to “surthrival” and perseverance. Relative to the research mentioned above regarding the helpful or hurtful nature of back up plans, for Pemberton there was no such thing. There was simply no other option than to persist toward his goals, however small or large, that were doggedly pursued one at a time until, collectively, he reached that mountain peak. Then, he did it time and time again, also having spent much of his professional life helping others do the same. His childhood experiences not only gave him the resolve and tenacity to stay the course, but to do it with purpose and meaning—for Pemberton, a burning desire to “pay it forward” and help others break through obstacles in their own lives.
#2: Consistency Breeds Commitment
Ask people if they are committed individuals and many will say “yes,” however; commitment is often defined or regarded quite differently from culture to culture, and even person to person. Individuals often assert their commitment to their goals until a circumstance arises that knocks them off balance, comfortably absolving themselves of blame in the process. It’s no wonder a whopping 80 percent of New Year’s resolutions are purported to fail by February. “In order to remain committed to a goal or cause, one must conduct themselves with steadfast consistency in working toward it, and upholding it when you’ve achieved it—no matter what hardships present along the way,” urges social activist and acclaimed personal injury attorney Christopher Chestnut, partner at The Chestnut Law Firm. Despite Chestnut’s amazing early career trajectory, including recognition from former President Barack Obama (who was Senator at the time) for courtroom excellence, earning a National Bar Association award and winning a multi-billion dollar lawsuit against Big Tobacco, he suddenly found himself immersed in challenges threatening his reputation, livelihood and future at large. This included being in a dispute with his former mentor. While Chestnut was faced with possibly “losing it all,” having many chances to quit, his devotion to the idea of “justice because you deserve it”—the actual slogan of his law firm—gave him the emotional strength and fortitude to remain committed to the profession he worked so hard to attain. Consistency forges a path and, rather than focusing on the end destination, holding on to the ideals for “why” you want to grow can reinforce your commitment and serve as guideposts to help you navigate those inevitable bumps in the road.
#3: Remain in Relentless Pursuit
Russian-born Eugene Gold grew up poor, ultimately immigrating to the United States with the hope of a better life. In the process, he faced setbacks too numerous to count, from financial to professional to social. But he was relentless in working toward his career goals. So much so, Gold was coined a “relentless-preneur” for his unwavering belief that rejection actually fuels success. Gold reveres failure and regards rejection as an asset. Gold points out that, “every single time you fail and every single time you get rejected, you are that much closer to a ‘yes’ and more knowledgeable at how to get there.” It’s with this maverick mentality that Gold built a business that’s grown by a staggering 4,400 percent. His incredible, fearless determination landed his company at No. 65 on the coveted Inc. 5000, also appearing on Entrepreneur 360 list twice. Producing such staggering “against the odds” results is certainly difficult, but entirely attainable with the right mindset.
Another fast track case-in-point is Chi Ta, a self-made millionaire who grew his Airbnb business to $2.4 million upside in nine months, making him one of the world’s largest Airbnb hosts by dollar volume. He not only attributes his rapid-fire success to determination, dedication and consistency, but also by being willing to take those calculated risks and leaps of faith needed to push past the status quo and not just be good … but great. Before growing his Airbnb empire, Ta was working toward his “wealth” goals in the mortgage industry where he served for over a decade. But, when he uncovered gig economy opportunity in the homeshare space and curated what he felt was a powerful strategy related thereto, he brazenly pivoted and shifted his professional point of focus on the new pursuit. Today, Ta is one of the global leaders in his field and his now mentoring others on how to achieve just the same. Gold and Ta are examples of how quickly things can get back on track after an undesirable result. Their mega success demonstrates that people falling behind on their New Year’s resolutions can actually parlay pitfalls into renewed intentions that can reinvigorate.
#4: Value and Demonstrate Loyalty
It often takes a strong character to accomplish things in life, and this holds true for New Year’s resolutions as well. This according to “Character Coach” Gary Waters who enjoyed a 30-year career as a NCAA basketball head coach. Waters believes that character begins by being loyal to yourself and that quitting is the most disloyal thing you can do. Loyalty means different things to different people, of course. For Waters, loyalty is about the commitment one makes to a cause. It involves a feeling of devotion or obligation to something in both good times and bad. Other definitions describe loyalty as involving faithfulness to something to which one is bound by pledge or duty. In all instances, however, loyalty is about integrity—keeping one’s word or upholding expectations as demonstrated through one’s actions, optimally in a sustained and habitual manner. Waters believes that ingraining a sense of loyalty to one’s own wants and needs is a fundamental aspect of character building. Once you’ve mastered this for yourself, you can then impart the value of loyalty on those you have an impact on—be that in the workplace, at home or on a playing field.
Irfan Khan also knows a thing or two about loyalty. As the president and CEO of Bristlecone, a company whose size he has doubled the last four years by completely centering it around the needs and wants of his customers, Khan is an expert in “antifragility.” A concept defined by popular economic thinker Nassim Taleb, an antifragile system is one that, “instead of breaking under stress and change, thrives under it. The antifragile grow and improve from external shocks.” While typically applied to supply chain management and a consumer-centric approach and attitude in business, Khan asserts that trials and tribulations that test and attempt to undermine one’s loyalty can, and should, actually make that loyalty stronger and uncompromising.
#5: Recalibrate When Required
It is to be expected that one will face stress and difficulties in their road to successful resolutions, but some of those roadblocks may be signs it’s prudent to rethink your goals altogether. Career coach Sheeba Forbes faced this same dilemma when starting her practice intended to help women advance in the workplace. Many times, as her business was establishing itself, Forbes had to step back and re-evaluate if a particular goal was what she actually wanted—or even needed—or if it was time to “course correct” and adapt her objectives slightly to accomplish the bigger picture of what she set out to achieve. This ability and willingness to readjust and reacclimate to new conditions and situations taught her the value of taking a break, stepping back to re-evaluate goals and ensure the “why” behind them still aligns with current circumstances and desires. To this point, Dr. Quinella Minix, a personal performance coach, concentrates on intrinsic motivation. She advocates a focus on knowing what drives you and why. Minix underscores that it’s easy to get distracted by the “wrong why,” which can lead you down a path that wastes time and energy and can often take you further away from your goal.
The demonstrated value of strategic recalibration aside, when it comes to getting New Year’s resolutions back on course, for many the secret sauce is simply a matter of maintaining one’s vision, focus and persistence. This mix is what helped former NFL wide receiver Marques Colston become the New Orleans Saints all-time leading wide receiver (one of the top 50 in NFL history for receiving touchdowns) and, today, an entrepreneur helping retired athletes and other professionals become skilled entrepreneurs and investors in their own right. “Even though I attended a small school, my ‘plan A’ was to go to the NFL,” Marques notes. “When people asked me if I had a ‘plan B,’ I would respond that my ‘plan B’ was for my ‘plan A’ to work. I just didn’t see it any other way. It was all or nothing.”
Can this “all or nothing” mentality help the throngs of folks failing with their New Year’s resolutions reel it back in and taste victory in their own right? It seems to me that such staunch intentions can certainly be a helpful means toward that end. But reality is there’s no one single method that can guarantee goal-setting success. The insights and perspectives above can help you ascertain what’s missing in your own plight and freshen your approach, optimally lighting that fire in your belly and sustaining it until you cross the finish line. It may not be easy, but perhaps you can perceive this truth as a thrill rather than a kill.
Merilee A. Kern, MBA, is an internationally-regarded branding and marketplace trends pundit—an industry voice of authority and tastemaker who spotlights noteworthy industry innovators, change makers, movers and shakers. She reports on noteworthy experts, brands, products and services across all categories as well as exemplary destinations, experiences and events. Reach her at www.TheLuxeList.com and on social media: Instagram www.Instagram.com/LuxeListReviews; Twitter www.Twitter.com/LuxeListEditor; Facebook www.Facebook.com/TheLuxeList; and LinkedIN www.LinkedIn.com/in/MerileeKern.
Photo © Natalja24_StockFreeImages.com
Know the reasons why you should invest in Premium Quality Tires
Hankook Tire is a high-quality tire product manufacturing company. They are priced competitively at reputable websites like Super Tires, and it is not without a reason. Many vehicle owners are switching over to these tires due to their efficiency and great performance. When you are all set to lay hands on new or used Hankook tires, it is quite worthy to learn about the features of these top-notch tires.
You should buy Hankook tires as these are known for a high-class design. The tires are designed for safe travels under different climatic conditions. The tires have low rolling resistance, meaning the fuel usage is less than with other tires. The Hankook tires are durable, and they are also designed to minimize noise that is caused due to vibrations on the road. Reputed dealers maintain a huge inventory of tires so they can be picked to suit specific road and weather conditions. Also, they have formulated compounds to suit the needs of individual customers. They are designed to be used on the highways, and it offers braking and steady gripping on the road.
Enjoy a comfortable and smooth ride
It is not easy to get a smooth ride from the tires meant for minivans and crossover vehicles. The used Hankook tires can fit for these vehicles and also for the coupes and sedans. They are custom blended with all season rubber compound. They have a symmetrical design feature and offer a comfortable and smooth ride as a result. Also, there are tapered grooves and a continuous rib for the smooth drive. When it comes to the DYNAPRO AT-M they are designed to offer a bump-free ride even on uneven surfaces. They also provide excellent gripping and accelerating and are noise-free, which is a less expected feature in such a tire. They also have the stone ejectors that are built in.
Vehicle owners always look for durability. And the high-quality tires are manufactured with custom blended rubber compounds that are meant for all seasons of the year. This means they are durable. They have circumferential grooves, which make the tires a perfect partner for long drives. The design is also responsible for keeping off hydroplaning. Like in the Hankook tires the DYNPRO AT-M is molded with symmetrical tread design, and it improves traction as a result. The scallop and tiered side grooves offer the best drive no matter the road condition.
Focuses on the future
These premium quality tires offer new visions and resolutions for the years to come. These tires are made to perfectly fit the environment. This is why you can find the used Hankook tires also reliable and in right conditions. You can buy the used or new tires from the reputable dealers as these tires are utilizing the newest technology and care about the future.
The new and used tires at Super Tires meet all the needs of the customers and are being loved by drivers who need rugged tires that offer superior performance.
Tips For Buying a Rugs and Carpets In a Rug Sale
4th July is just about to come and it is the best time to shop expensive items just like a handmade area rug, chandelier, Beautiful Furniture, wedding clothes, etc. There is a possibility that you are using the same style for a long time and now you get bored with it. Handmade carpets and rugs are known for its intricate design, “One of a kind” pattern and beautiful vibrant colors.
This is the simplest way to add charm and coziness space. Are you looking to replace your old carpet with the new one or want to buy an exclusive handmade area rug online? As we know that handmade area rugs are expensive. Everyone wants to take it but they cannot buy due to the high price. 4th July is the birthday of Americans, and it is the biggest holiday. People celebrate this day by organizing parties, by shopping their favorite things because most of the websites provide Sale or discounts on the handmade area rug and other appeals. So you can find beautiful “One of a kind” handmade rug at a very reasonable price range.
You can shop from Rugs and Beyond because they are providing huge discounts on exclusive “One of a kind” handmade carpets.
When do the 4th July rug sale starts?
You may think that many of the best 4th of July sales would be starting on the 4th of July weekend, right? Well, not exactly.
Just like Black Friday, Cyber Monday, and Labour Day, online e-tailers are starting their discounts earlier and Rugs and Beyond is one of those. Rugs and Beyond already has started 4th of July sale from today and it is valid till 8th July 23.59pm Sharp.
How can you get huge discounts?
Rugs and Beyond is offering a coupon forum special discount on 4th of July 2019. They have mentioned coupon code on top of the home page. You can apply the coupon code while adding your product into the cart. You can also shop from 4th July Rug Sale offer on Rugs and Beyond and can get up to 50% off.
Now find two best carpets on Rugs and Beyond which is ideal for 4th of July-
Bluish Central Medallion Handknotted Silk Carpet:
Bluish Central Medallion is a hand-knotted area rug which is made in pure mulberry silk. This is the finest quality of silk. The warp and weft both are in pure silk. The ground of this area rug is in dark navy blue color and center of the rug contains medallion pattern. This is “One of a kind” and one of the most beautiful carpets from Rugs and Beyond silk carpet collection. It contains a medallion Kashan pattern which is originated from Persia in the 15th century.
Rouge Bagh Carpet:
Rouge Bagh carpet which is made in pure New Zealand wool and cotton material. It is a large area rug which is suitable for a living room, a bedroom as well as for a dining room.
The ground of this rug is in vibrant red and pattern is made in sky blue, yellow and navy blue color with floral pattern. This rug contains a diamond medallion pattern in the center of the rug. It is highly durable and 100% hand washable.
So, shop beautiful handmade carpets and rugs from Rugs and Beyond and find huge discounts on your favorite carpets.
9 Easy Ways to Enhance Daily Life
It’s a fresh New Year and the perfect time to refresh our daily routines, courtesy of innovations in the consumer goods sector. With this in mind, here are an array of tried-and-true lifestyle enhancers and problem solvers that’ll help ensure a great year ahead.
Kami Home Camera (www.Amazon.com)
Kami is a brand offering an economical and complete AI-featured home security system. Mount the camera on a surface or on the ceiling, and it’ll give you more control over what you want to see in your room. In fact, its 360-degree rotation gives you an entire room’s view from one location. There are also sophisticated algorithms that allow for smarter alerts. With AI-based detection of humans, pets and abnormal sound, you only get alerted when it actually matters. You can also turn on privacy mode to temporarily disable the camera. Eyelid design makes it easy to know when you’re being recorded. Kami Home relies on Microsoft Azure to protect your data with the same level of security and privacy that protects millions of businesses around the world. It surpasses the highest U.S. and European data privacy requirements. There’s also a Kami Home App for iOS and Android which lets you check-in anytime, from anywhere. Access Kami Cloud, live view, adjust privacy settings, communicate over two-way audio and much more.
Nuheara IQbuds BOOST (www.Shop.Nuheara.com)
Those with mild hearing loss should definitely check out Nuheara’s IQbuds BOOST earbuds. Because only one out of six Americans hear perfectly under any conditions, such as a crowded restaurant, a concert or the movies, among others, these help enhance your hearing experience no matter where you are. With a sleek design and Bluetooth compatibility, IQbuds BOOST delivers smart, personalized hearing. It includes Ear ID, a clinical grade hearing assessment that automatically calibrates the earbuds to your unique hearing profile. They also feature audio transparency to bring the sound directly in front of you into sharper focus; an intelligent audiometric system that learns how you hear and automatically adjusts the IQbuds to your hearing prescription; super Intelligent Noise Control to balance between world noise and speech; 20 hours of on-the-go Bluetooth streaming and so much more. They’re perfect for people who could use a little help with their hearing, but either don’t want, or aren’t ready for, a traditional hearing aid. They cost thousands less than a traditional hearing aid and deliver “20/20 hearing” (20Hz-20Khz) without the need to visit an audiologist. IQbuds BOOST will transform the way you hear and connect to your world.
HairMax.Com Hair Regrowth Solutions (HairMax.com – Save 10% with Code: LUXELIST)
Thick and healthy hair is a sign of youth and vitality. But, unfortunately hair loss happens, and a once thick of head hair can becoming thinner. When it happens, it can negatively affect self-esteem and make you look older than you actually are…or feel. But, the good news is that there’s something you can do about it! Specifically, the HairMax LaserBand 82—a leading-edge medical device that uses photo biostimulation laser energy to stimulate hair follicles, restore your hair’s natural growth cycle, and grow fuller, denser, stronger hair. It’s FDA cleared for both men and women and proven effective in seven clinical studies. During testing it averaged an increase in hair count of 129 additional new hairs per square inch. That’s thousands of new hairs! You use it only 3 days a week for as little as 90 seconds per treatment. The therapeutic light energy is delivered through 82 medical-grade lasers in a specially designed band to provide full scalp coverage. Also consider the new ‘HairMax for Density Hair and Scalp Treatments’ formulated with their proprietary NRG8-pLEX complex, and bio active ingredients like apple stem cells, DHT blockers, caffeine and niacinamide—highly active ingredients that are delivered to the root of the follicle through liposome technology to help protect against biological aging and transform thinning hair into thicker, more voluminous-looking hair. And, the Acceler8 Hair Booster is light-activated giving an additional kick for healthy hair growth. This nutrient rich system also works to transform thinning hair and can be used with the laser treatments. Together the system helps address all six mechanisms of thinning hair, leaving you with fuller-looking locks. Learn more about these at HairMax.Com and save 10% with checkout code ‘LUXELIST.’
Giani Wood Look Garage Door & Granite Look Countertop Paints (www.GianiGranite.com)
From plain white to the elegance of natural hardwoods, Giani Wood Look paint will make your garage door look like wood and upgrade your home’s appeal in as quickly as a single morning. In fact, the paint kit is a simple, two-step application that will transform smooth, embossed, flat or raised panel metal doors in just three hours. Each kit contains the tools to cover 180 square feet of surface, which is the typical size of most two car garage doors. And, there is no need to prime prior to applying Giani Wood Look as its unique water based safe system contains a Wood Tone Base Coat that will typically cover in one application. Plus, the specially formulated Wood Grain Finish completes the total wood transformation of your garage door. But, why stop there when you can also transform your countertops and get the kitchen you’ve dreamed of without the mess, time or cost of replacement? Giani Countertop Paint is a simple, three-step application that will transform formica, laminate, corian, ceramic tile and cultured marble in a single weekend. Each kit contains all tools to cover 35 square feet, which is the average amount of countertop area in a kitchen. The granite paint comes in five granite shades, is water-based, safe and low odor. Its specialized primer hides existing discoloration and minor scratches, while its mineral colors create the characteristics of natural granite. The acrylic topcoat provides maximum protection as well.
Giani Liquid Stainless Steel Paint (www.GianiGranite.com)
Want to give your appliances an upgrade? Don’t switch out seemingly outdated appliances that still work but, instead, keep your functional machines and just improve their look with paint. Giani’s Liquid Stainless Steel is a single-day makeover process that will transform existing refrigerators, ovens and dishwashers, coffee makers and more with the bright, clean look of stainless steel. Liquid Stainless is a micro-metal technology made with real stainless steel. It’s a simple brush and roll-on application that will cover most common appliances in three easy coats, and dries to a brushed, metallic finish. The kit contains all tools to cover 19 square feet. Liquid Stainless is water-based, safe and low odor. It hides existing discoloration and minor scratches, while a clear acrylic topcoat provides maximum protection and is smudge free. It’s the perfect resolution to make those older appliances look fresh and fabulous!
Hunter Fan Company’s SIMPLEconnect Smart Fan Collection (www.HunterFan.com)
For the tech-friendly household, Hunter Fan Company’s line of SIMPLEconnect smart fans are a stellar choice, with each providing connectivity with Apple HomeKit, Amazon Alexa and Google Home. One way to step into a more connected home is with the Symphony ceiling fan model. This modern smart fan works with an integrated remote control as well as home automation applications. With graceful, sweeping blades, elegant lines and a glossy finish, the Symphony is a soft modern masterpiece perfect for large indoor living spaces. Symphony’s Exclusive SureSpeed guarantee delivers high-velocity gusts with airflow optimized for ultimate high-speed cooling. The blade pitch is also adjusted to ensure ideal air movement and peak performance at all times. It includes dimmable bulbs to give you complete control of the light output and create the ideal ambiance in your room. Plus, its reversible four-speed WhisperWind motor delivers ultra-powerful air movement with whisper-quiet performance so you get the cooling power you want without the noise you don’t.
If you’re looking to change up your breakfast or snack game this New Year, this fab foodie brand surely will get you on the right track. WaffleWaffle goes beyond the average breakfast with all-natural, Belgian-style waffles that are flavor-forward. The grab-n-fo WaffleWaffle’s come in various flavors so you can mix it up and satisfy your changing cravings, These include Cinnamon Roll, Buttery Vanilla and Buttery Maple. The company also makes more traditional flavors like the Original or Chocolate Chip, There’s even Birthday Cake! If you want to get a little sweeter you can get try their Red Velvet, Double Chocolate or Chocolate Cocoa varieties. Enjoy them on-the-go or go ahead and pile them high with your favorite toppings. I also like that every WaffleWaffle is made using the highly sustainable practices and energy efficient methods. As well, all products and packaging are made using wholesome ingredients, renewable resources and wind power.
BambuLife Socks (www.BambuLife.com)
Perfect for work, play or leisure, BambuLife socks deliver a trifecta of quality material, comfortable fit and unique style. They are two times softer than cotton and are naturally anti-microbial. They feature arch grip support and a cushioned sole for maximum comfort. BambuLife’s Low Cut socks have non-slip tabs to keep them in place, and their No-Show socks have an anti-slip silicone grip on the heel so they stay put. The No-Show socks also have size indicators on the toe to make sorting easier than ever. Plus, the socks’ fabrics naturally resist typical trapping odors because they are made of viscose rayon derived from bamboo, which regenerates naturally and grows without the use of harsh chemicals or pesticides that can cause skin irritations. Unlike cotton, bamboo needs no fertilizers to boost its growth since bamboo is naturally pest-resistant. Once harvested, bamboo can replenish itself within a single year. You’ll even stay a few degrees cooler in warm temperatures, and warmer in the colder climates thanks to the product’s moisture-wicking properties.
NasalGuard Airborne Particle Blocker (www.NasalGuard.com)
Stop the sniffles all year through! You can prevent the cold and flu, and indoor and outdoor allergies, with NasalGuard. With a mild electrostatic charge, this topical gel reduces inhalation of particles as small as rhinovirus, pet dander or pollen, along with many other airborne pollutants, contaminants and allergens. The electrostatic technology creates an invisible filter around the outside of your nasal passages. A pin-sized couple of drops of NasalGuard restricts thousands of fine and ultrafine particles from entering your system for up to six hours by either attracting the particles to stick to the gel rather than being inhaled, or by repelling the particles away from your nose in the first place. Plus, it is drug-free and lasts up to 150 applications. As the leader in particle-blocking electrostatic technology, NasalGuard has sold over 12 million units worldwide. It’s a great way to avoid airborne illness.
As the Executive Editor and Producer of “The Luxe List,” Merilee Kern is an internationally-regarded consumer product trends expert and hospitality industry voice of authority—a travel, dining, leisure and lifestyle expert who spotlights noteworthy marketplace innovations, change makers, movers and shakers. She reports on exemplary travel destinations and experiences, extraordinary events and newsworthy products and services across all categories. Reach her online at www.TheLuxeList.com, on Twitter at www.Twitter.com/LuxeListEditor, on Facebook at www.Facebook.com/TheLuxeList and on Instagram at www.Instagram.com/LuxeListReviews.
***Some or all of the accommodations(s), experience(s), item(s) and/or service(s) detailed above may have been provided or arranged at no cost to accommodate this review, but all opinions expressed are entirely those of Merilee Kern and have not been influenced in any way.***
Dow Dives 800 points to below 22,000, S&P 500 enters bear market
Trump resumed his attack on the Fed on Monday, tweeting that the central bank is “the only problem” with the U.S. economy.
Treasury Secretary Steven Mnuchin held calls on Sunday with the heads of the six largest U.S. banks in order to reassure nervous investors.
The NYSE closes early on Monday at 1 p.m. ET. The exchange is closed on Tuesday for Christmas day.
U.S. stocks plunged on Monday in their worst day of Christmas Eve trading ever, as the S&P 500 entered a bear market.
The Dow Jones Industrial Average dropped by 653 points Monday in volatile trading, falling below 22,000. The Dow sank more than 2 percent, then recovered nearly all of the day’s losses, before again falling more than 2 percent. The S&P 500 fell 2.7 percent, slipping into a bear market, falling 20.06 percent from recent highs. Wall Street traditionally considers a drop of 20 percent or more from recent highs to be a bear market.
The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!
— Donald J. Trump (@realDonaldTrump) December 24, 2018
The uncertainty over the global economy weighed down all of the indices. The tech-heavy NASDAQ ended the day 3.8 percent or 283 points lower at 7,158. The S&P 500 index closed at 2,700, down 90 points or 3.24 percent.
“Violent volatility resumed as tumbling bond yields, a flattening yield curve and lingering questions about the G20 US-China trade truce combined to stoke increasing recession fears. While US growth is still holding up OK, worries are increasing about the overseas economic outlook. All this macro-economic uncertainty is clouding the 2019 earnings outlook, leading to increasingly violent equity swings as investors try to handicap what 2019 will look like,” Alec Young, managing director of Global Markets Research, FTSE Russell, told ABC News.
“Cyclical sectors like technology, financials and industrials led markets lower, while defensive areas like utilities and real estate weathered the storm best. Until confidence in the global economy improves and bond yields stabilize, market psychology is likely to remain fragile,” Young added.
Shashikant Das appointed as the new RBI governor
NEW DELHI: After Urjit Patel quit from the post of RBI’s governor, due to personal reasons, just a day ago, the new face for the highest position has been appointed, very quickly. Shashikant Das is the new and overall 25th RBI governor of the country. The government, on Tuesday, appointed him as the next chief of the central bank of India.
Shashikant Das has been appointed for a tenure of three years; he had retired as economic affairs secretary in May 2017.
After a sudden stepping down of Urjit Patel as the RBI chief, the central government praised his work, and for his services.
“The government acknowledges with a deep sense of appreciation the services rendered by Dr. Urjit Patel to this country both in his capacity as the Governor and the deputy governor of the RBI. It was a pleasure for me to deal with him and benefit from his scholarship,” Finance Minister Arun Jaitley said.
PM Mr. Narendra Modi also thanked him via a Twitter post, saying that he brought ‘financial stability’ to the RBI.
The appointment of Shashikant Das, the new chief though, was done very quickly. It wasn’t the case in the past.
For the past few weeks, Urjit Patel and the finance ministry of BJP’s central government were at loggerheads, on the issues of giving relief on loans to small and medium sectors, which the government wanted and RBI refused to accept.
But the dissent of Dr. Patel became open when deputy governor Viral Acharya talked about the freedom of the central bank. He argued that any compromise could be ‘potentially catastrophic’ for the economy.
Although it’s not that this tussle between RBI governors and the government is only happening during the reign of BJP. In the past too, there have been several similar incidents between the central bank’ and the government. Some examples include Sir Osborne Smith (RB chief in 1935, in a pre-independence India), Sir Benegal Rama Rau (RBI chief from 1949-57), S Jagannathan (RBI chief in 1975), and Raghuram Rajan (RBI chief from 2013-16).
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