I feel duped. Cheated. Robbed.
Last weekend I forked out £19.95 to watch the Mayweather versus Pacquiao fight. Those of you in Australia would have had to pay AU$59.95. If you were in the US and wanted to watch it at home it was a whopping US$100.
Of course you could have gone to the pub to watch it. But considering the fight was on a 4:30am Sunday morning here, that wasn’t an option for me.
The bout, as you’re probably now aware, was the richest in history. All in, somewhere around $400 million (probably more) went to the fighters. Within 15 seconds Mayweather had made US$1 million. And he hadn’t even thrown or taken a punch yet.
The build up to the fight was six years in the making. While watching the preview shows even my partner Hayley began to get excited about it. And she pretty much hates boxing. Such was the hype and hysteria around the fight, you couldn’t help but get swept away.
By 6am the whole shebang was over. And it was the biggest anticlimax I’d ever come across in sport. I’ve seen a lot of sports events in my life. And none, I repeat none, have ever been as underwhelming.
What annoyed me most was that I got sucked in. I fell for it. I should have known a convicted wife-beater notorious for defending his way to victory would put on a lame duck event.
His opponent, a soon-to-be political powerhouse in the Philippines, was well past his used by date and didn’t add much either.
Between the two they managed to put on one of the most anti-fan-friendly displays of all time. And I’m pretty sure millions of people around the world also felt cheated out of their money.
We only get to see the puppets in action
It’s not the first time I’ve seen a hyped up battle and thought to myself after the event, ‘You both suck. You cheated me of my time and my money.’
The last time I felt this let down was the Australian Federal Elections.
There was all the build up. Something most boxing promoters would be proud of. There was plenty of hype, some mudslinging and even a bit of good old fashioned knife-in-the-back action.
But the end result was a huge anticlimax. Underwhelming doesn’t even get close to describing it.
There was a winner at the end of it all. But the outcome was a letdown.
Another time was the Victoria state elections. Same thing. Hype, hysteria and some pre-fight argy-bargy. Then another winner, and a feeling of disappointment. Another big letdown.
After the last few federal and state elections I’ve just felt down. Kind of sad. Definitely disappointed.
The eventual winners of these political bouts, Rudd/Gillard, Gillard/Rudd, Abbott and more locally, Andrews, are all the same.
It’s easy to understand why there’s such distrust in politics. It’s the same feeling you get from boxing. No one likes to feel cheated.
Like boxing, politics is a world unto its own. It’s a private members club where back room dealings script the outcome of the main event. It’s the silent influencers, the ‘shadow men’ that really get things done.
What we see are just the puppets of a far greater machine.
Yet every time we buy the hope and belief that the next time will be better. The reality is it’s always the same. But we fall for it hook line and sinker. Well, not anymore. Enough is enough.
In Australia, we’re now facing the shakiest economy since the early 90s. Yet what have we got to look forward to? A government that’s going deeper and deeper into debt. An opposition that’s content to be a bystander. There’s political instability, economic instability and a lack of any forward planning.
The RBA has cut rates again. But is it really helping at all? Nope. Doesn’t appear to be. If the RBA wanted to boost the market and weaken the Aussie dollar, it failed on both counts. Since the rate cut, the Aussie market is down and the Aussie dollar is up!
So they’ll cut, and they’ll cut again. And before you know it Australia will be in the same spot as most of the developed world. With historically low interest rates and an economy still stuck in ‘Park’.
Worst of all, very little hope for a way out.
Do something. Take Action. Only you can
The time to plan for Australia’s future was 10 years ago. But instead of figuring out how to turn Australia into a growth hub, our politicians rode it into the ground.
So what can you do? Can you impact the RBA’s rate cut decisions? No you can’t. Can you create the policy for our political parties that might help Australia? No you can’t. Can you impact the price of the Aussie dollar? No you can’t.
Feeling helpless yet?
Not all hope is lost. You see, the RBA can move rates, but it has little effect these days. And the government can create policy, but it too has little effect.
They don’t control corporate Australia. That gives you a chance. Hope that you can still have a bright financial future.
But you have to invest. And invest in stocks that can deliver returns regardless of what incompetent leaders manage to stuff up.
These are stocks you don’t read about every day in the Financial Review. You don’t hear about them on 7 News. They’re the unknown raiders. They’re stocks that operate under the radar on the ASX.
And while your average mainstream punter gives up hope of a brighter future, you can seek returns that defy belief.
If there’s one thing to learn from all the shenanigans going on around the world it’s this. Don’t get sucked in to their nonsense. Don’t be a victim of their incompetence. Take the bull by the horns and do something for yourself.
Contributing Editor, The Daily Reckoning
Ed Note: This article originally appeared in Money Morning.