How will you Emerge from this Economy?

Get comfortable, we need to talk.  Right now, you have some serious concerns about the direction the global economy is going.  Those are good concerns, indeed, valid concerns .  But I want you to realize something else.  The economy we have enjoyed for the last ten or twenty years is almost completely unprecedented in world history.

For millennia humans have struggled to find their next meal, in fact most humans in the world still do.  Relatively speaking, you and I are way better off than any of our fellow humans now or ever.

So first off, be thankful.  Be glad you have it so well.  This is an essential part of surviving this downturn.

Yes there is a downturn, and I realize it may have affected you in devastating ways.  Some people’s retirement is wiped out, others college funds, savings, down payments, all gone.  These represent broken dreams.  But there is hope for a restoration.   There is a future.  All economies are cyclical.  It was foolish of us all not to see this coming because upswings depend on downswings and vice versa.

So the real question for you right now is what can I do to pull out of this thing and maybe even profit?

Here are some ideas 

Micro Luxuries

When the economy gets bad folks avoid big expenses, they drive less, they go out to eat less, they put off new cars and swimming pools.  But they buy chocolate and beer.  These small purchases help sooth the pain of existing in a downward economy.  We are such chronic self-medicators that these things will survive.  If you can, invest in or start a company that profits from selling small, inexpensive luxury items that would be wise.  Chocolate and alcohol are the two major industries that actually thrived during the great depression.

Prohibition was repealed near the beginning of the Great Depression, I would expect the government to start talking about legalizing the sticky green weed that was so popular in the sixties.  The tax revenues alone from this could jump start the federal budget.  And let’s be honest, its becoming more accepted.  I am not telling you what I think of that – I am only saying it is likely to come up in the next administration (probably depending on the outcome next week), and I think economically, it could be an advantage.

Savings

How are you with saving?  in the next few years we are going to see less and less credit.  That’s the problem after all isn’t it?  Sure the government passed this rescue bill that’s supposed to help us out.  But it will only last so long.  The banks are going to keep dumping that money out because they all have some bad habits and the 600 billion will be gone soon.  People with money to lend will be able to get pretty high interest rates on it, and they will have no problem finding someone to borrow it.

You want to be saving your money now, investing it wherever you safely can, because on the other side of this economy there will be plenty of opportunities for you to earn higher interest.

Open a Business

There is NO better time than a bad economy to start a new business.  Sound crazy?  It’s true I swear!  Because when the economy has no where to go but up – it WILL!  And you can ride that boat all the way to the bank.  Think about the things you have always wanted to do.  Realize that your job (just like almost every other job in America) is in jeopardy.  And now is a great time for to start thinking about earning an income on the side.

Go for it.  Since there is a credit crunch, start small, use an inexpensive marketing strategy to get the word out.  Operate on low overhead and reinvest just about everything you can.  Build it slowly but surely until you can use the profits to support yourself in the event that your job is terminated in the coming months.  Better to be safe than sorry.

And Remember

Trials test our perseverance and perseverance produces endurance.  When the economy turns around, you want to be one of the few who endured.

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