This is the most disturbing video I’ve seen in a long time about the state of our economy, the financial markets, and the job market outlook. SERIOUSLY, I wish more people understood what is happening to the core of Corporate America!!! What’s more disturbing is those same people searching for jobs, doing things they didn’t used to in order to survive (think working at Starbucks or Lowes after leaving a mid-level management job) are the same people that call me crazy for building a home based business. Opportunity lies when the economy is collapsing!!
WHY? Its simple…there are a few, and the number will grow exponentially over the next few years, that are taking a closer look at building their own businesses, and building their own retirement plan instead of depending on Corporate America.
Steve Kroft from 60 Minutes covers the 401K Recession, and the collapse of Corporate America as we know it. Aired on CBS recently, the truth is revealed about 401K’s being a “discount pension” plan and created a massive spike in the growth of mutual funds! Fast forward a few years, and if you are like me, your investments have simply gone sideways over the last…ummmm 10 years, or you’ve lost a tremendous amount. People are having to go back to work that WERE retired, families are having to reconsider the direction they are headed, and they are genuinely concerned about their financial futures.
Pay attention…Herein lies the opportunity! It’s a little known fact that more millionaires were made during The Great Depression than in any other time in U.S. history. Do you want to know how they did it so you can cash in on the current economic situation?
It takes a lot of digging to find the actual information, not just the historical data dished out by the media regarding how hard the depression was on the masses and how diligently the Presidents worked to turn the U.S. economy around. It takes digging through stacks of documents including the patent and copyright office files and the Library of Congress to find much of the data. But, there is a ton of data available on the internet if you dig deep enough.
There is one golden nugget contained in this history lesson that can enable you to make a lot of money when our country is in a recession (like right now) because a recession is exactly the same thing as a depression except it doesn’t last as long and the economic damage is not as severe. So bear with me while I give you a short history lesson that contains this golden nugget.
You should know that the Great Depression actually began a few years in advance of the 1929 stock market crash and lasted until World War II brought the country out of the Depression.
During the years before 1929, as greater and greater amounts of credit was extended to individuals and businesses the economy was tipping over the edge from available cash to excessive amounts of credit debt. When the amount of extended credit reached a critical mass, and businesses failed to pay the credit bills, the companies crashed (the 1929 stock market crash.) Because employees lost their jobs they could not pay their credit debts and the housing market and banking industries crashed.
The many business enterprises that changed hands during the depression by people with liquid cash are too numerous to mention, but due to the war effort, those with liquid cash who bought land, homes, companies, or invested in the stocks of the companies that produced products that were in demand by our government for the war effort made millions. The industries included such products as:
1. Steel, iron, copper, and aluminum 2. Communications equipment and replacement parts 3. Tanks, boats, aircraft, vehicles and parts for these 4. Ammunition and weapons 5 – Boots, clothing, belts, helmets, caps, backpacks, hats, blankets, tents and cots (and the textiles to make them) 6 – Storage and shipping containers 7 – Shipping, truck and railway transportation 8 – Petroleum products and fuels and stock in iol wells (the Texas oil boom was a biggie!)
A handful of the better known companies that were bought during that period were: Ericsson,Reynolds Metals, John Deere, Douglas Aircraft and even the Goudy Gum Company (they were the first was just a preview in April to the tune of a $% billion bail-out) and the mortgage crisis / real estate crash.
People in my company are paying off their credit debt and stashing liquid cash with a vengeance. They are sleeping well at night and can make it through whatever comes. Are you doing anything to prepare for the economic rollercoaster ride that is now underway? If not, and you’re serious about changing your situation, coachable, and ready to work I would love to help you establish hope again.