Be enterprising, educated and committed
Despite what you hear in the media, the “recession” is not over and the global economy is not on the mend. VERY difficult times are ahead. To confirm this, you need look no further than the tooth-and-nail fight Washington is waging today over a small number of spending cuts — less than a few weeks of interest-only payments on the US national debt. USA – to try to score political points. Meanwhile, the Middle East is on fire, Japan is literally under water, unions and radicals are planning a major financial terrorism later this spring, and the imminent replacement of the US dollar as the world’s reserve currency threatens to collapse to the entire world economy. .
But we are arguing in Washington about less than two percent of our national budget, and about (once again) whether taxpayers should fund abortions.
Experts say the powers that be have already taken us past the point of no return of global financial collapse, and it’s only a matter of time. What can you do to prepare? How can you build wealth and what is still possible in terms of crash-proofing your prosperity? The first three strategies you should consider are entrepreneurship, education, and engagement.
First, if you haven’t already, start a business. If you have a job, great, don’t leave it! Instead, start a side business and build it up so you have a backup position when the unthinkable happens (like a layoff in the family). Understand that a serious business venture requires you to invest a TEAM of resources: your time, your energy, your attention, and some of your money. But in these days of internet entrepreneurship, you can create a viable business with strong cash flow for a fraction of the TEAM investment it once took to open a physical business.
You also need to educate yourself on what is really going on in the world economy. Do you think a big crash (one that makes the Great Depression of the 1930s seem mild) can’t happen? Think again. Some financial pundits with amazingly accurate records say the US stock market will eventually trade below 1,000 (it’s currently above 12,000)…and that no one alive today will live to see a new “high market.” , so desperate and widespread will this next accident be. Now, these guys know more than you do about the trends and tricks central banks employ to artificially prop up the world’s economies. And you won’t learn about this in school or from the mainstream media. Therefore, you should seek financial advice directly from the real experts and from those who have already left “the system” and are no longer required to simply put you into some company’s investment vehicles.
Finally, you have to stay engaged. Gone are the days when you could ignore the events of the day and live in the bliss of ignorance. And when you get smart about what’s really going on, you’ll have to ACT on what you know. You are going to feel anxiety, and the only recipe for it is action.
Here’s some good news: You may become truly rich in the coming months as everyone around you loses everything they’ve worked hard for. Difficult times are also times of tremendous opportunity: More millionaires were created during the Great Depression than at any previous time in history, but you must anticipate trends and be ready to act. If you have taken your entrepreneurial step and done everything you can to educate yourself, you will be in a position to participate and capture the greatest opportunities of your life.
by Michael D. Hume, M.S.
