January 14, 2009 at 11:41 am
David Reed (1/14/2009)
If it's back2basics time, why is everybody focused on when The Economy™ will get back to its previous highs? Of course, by The Economy™ most people seem to mean The Schtock Market™. It's a proxy for what's going on in the broader economy, but mostly a lagging indicator and many of the indexes (like the Dow) have needed to be reshuffled for quite a while.There've always been people looking to get rich quick. It happens when preparation meets opportunity, so keep your eyes and ears open... but I believe we're going to have to circle the drain a lot longer before the current workforce truly begins to relearn AND reapply The Basics™: work like a dog, sell your product like your job depends on it, spend like Scrooge (before those pesky ghosts had their way with him) and save for a rainy day.
Yep. It's a set of false standards.
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"Nobody knows the age of the human race, but everyone agrees it's old enough to know better." - Anon
January 14, 2009 at 3:32 pm
Times of economic downturns represent great times for opportunty for those who are looking for it. While the masses are busy pulling all of thier limbs into their shells, some folks will come out of this more that squeeky clean. Great transitions of wealth have, many times, happened in times of economic recessions.
My personal thought....those who purpose to find/create opportunity during the next few years will be the economic leaders of tomorrow. The right person(s) with the right attitude and the right vehicle can take these next few years and set themselves up for financial independence for life.
Frankly, I'm quite excited about how the next few years will shake out.
January 15, 2009 at 8:54 am
John has a great point and this is definitely a time for opportunity if you are ready to take advantage of it.
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