One of my hobbies is reading, and specifically reading history. I find the parallels of historical events to life in today’s world fascinating. We’ve all heard that history repeats itself. Others say it doesn’t exactly repeat, but it rhymes. Either way, there is nothing new under the sun and we can better understand our own world by educating ourselves about the world of our predecessors.
Paul Volker, in a lecture he gave in the 80s spoke of the Spanish Empire in the 16th century and the easy money train they had coming from South American gold and silver. He said that although it seemed to create great wealth it also made for a false economy in Spain. In addition to creating price bubbles, the Spanish did not use it to build much of anything other than big villas, built by itinerant foreign labor by the way, so when the gold and silver flow slowed when the biggest mines were effectively depleted, their economy crashed so hard that it never recovered, even up to today. We see that exact scenario playing out again in the United States, with the difference being, instead of great quantities of gold and silver we have even greater quantities of fiat money propping up every segment of our economy.
Tom Luongo says, “…banks are getting nervous, emerging market central banks are positioned for radical currency defense. Rates are rising and dollar liquidity is falling. Bitcoin and gold are screaming this. If there was ever a time to get to cash it’s now.”
But wasn't Ben Bernanke saying in 2010, “Higher stock prices will boost consumer wealth and help increase confidence, which can also spur spending. Increased spending will lead to higher incomes and profits that, in a virtuous circle will further support economic expansion”?
According to the Bureau of Labor Statistics, real average hourly earnings increased 0.8 percent from January 2017 to January 2018. (Reported 02/20/2018). While this is dismal, it doesn’t reflect the majority of American’s experience, as the averages are skewed by those at the very top whose earnings increase dramatically, while the guy in the middle of the pack sees no growth, or even a loss after accounting for inflation.
I know I sound like a broken record, but the only solution for the average American (or Brit or Australian or anyone else for that matter who has access to a relatively free capitalist economy, is to diversify his or her income.
There are numerous ways for a person to start a business without massive amounts of startup capital and without having to devote full time to the project. You can keep your job and put in a few hours a day developing a business that will, if not replace your employment income, at least provide another source of revenue for you and your family for savings or investment in other opportunities that do require more capital.
Over the course of many years I tried network marketing, real estate investment, import/export, drop shipping, and an Amazon affiliate store. None of these provided me with the income I needed to make the investment in dollars and time worth the effort. Others do well with these businesses, but they didn’t suit me.
I finally found affiliate marketing and now have a workable business model for the future that does provide an income that compensates me very well for my small investment in time and dollars.
I highly recommend the program below for anyone interested in looking into affiliate marketing.
Hard (harder) financial times are coming. If you’re in the majority of the U.S. population experiencing hard times now, just wait—it’s going to get worse. There’s a saying,
“Life is hard.
Life is harder if you’re ignorant.”
We could replace ignorant with broke.
Even in the Great Depression, times weren’t tough for everyone. People who had all their money tied up in financial instruments suddenly found themselves in dire straits. But those with lots and lots of cash suddenly became wealthier as the general price levels dropped through the floor.
The time is now to build up your cash by diversifying your income sources. As I’ve said before, one of the ways you can do that is to leverage the power of the Internet and become an affiliate marketer. Very little investment in dollars and time can result in a substantial increase in your earnings—earnings that can be put away for hard times to come, or maybe just a vacation to Bali. This 7-Figure Income blueprint is an excellent way to get started.
As a bonus, if you haven’t downloaded this free guide to Internet Marketing 101, it’s still available for all my newsletter subscribers by simply clicking on the link.