There’s a “global economic crisis” – just listen to the “news”…
Petrol prices are sky high, companies are filing bankruptcy left and right, people are getting laid off, the economy’s in recession…
My question is, how is it affecting you?
How do you feel about the current situation of the economy?
I’m genuinely interested in your opinion on this…
My personal perspective?
I’m not the best person to ask since:
1. My age and the cyclical nature of economics means that whatever crisis occurs will be corrected long before it’s a major factor in my life…
2. I’m not from the US (though the AU economy’s not what it used to be either)
Having said that, my point of view is that I have no concern about the issue for myself because I believe no one is in control of my financial destiny but me, but at the same time, I have concern for alot of the people who haven’t yet taken this mindset… I have concern about how it will affect them.
Looking forward to your thoughts.
Post to Facebook
Share on Twitter
Digg This Article
Save on del.icio.us
Though it might be tough to find a bright side during the economic crisis at hand, this blog post gives some good tips for using this as an opportunity for positive change. Dr. Toni Galardi coined this as a “LifeQuake™” and talks about looking on the bright side – i.e, no money to dine out means more meals spent at home with the family and downsizing to a smaller house means living in closer quarters and getting to know your loved ones better. Check it out for inspiration: http://lifequake.blogspot.com/.
I’m with you, Andrew…The Internet opens us up to the World, and it allows us to “legally print money”. =)
When things go wrong, we know that the vast majority of the purchases people make (especially true with digital information products) are either i. due to desperation, or ii. just extra purchases with excess spending money.
This means that by diversifying our markets, traffic methods and marketing styles, we can gradually build up our residual income, and the state of the economy as a whole can have a much smaller effect on our personal financial situations.
Nice post as usual Andrew,
Kyle
Kyle,
I totally agree mate.
It’s interesting to watch people’s reactions out in the real world. Some seem to carry on as usual, while some really take it to heart, start to feel the worry in a very real way.
No surprise that some are more affected by the “crisis” than others huh?
Andrew
Andrew,
it seems that the more people live on the proverbial edge, the more effect this “crisis” will have on them.
Imagine profiling the most affected and scared out of their wits – what would the demographics be?
Media-created illusions drive many around the bend even though getting off the monster newsreel would plain do them so good…at last.
Having woken up this morning to another stock market crash and doom and gloom over the banking sector, Iam in the Andrew camp where I think “What the hell, I am doing stuff that makes me master of my own finances”. If as andrew says you change your mind set to one of self determination who cares whats happening out there. Now for most people there are going to be hard times due to job losses, poor mortgage market etc. I have taken the view that this opens up opportunities if you think outside the box. Therefore I have started a Blog via Andrews Firepow site relating to saving money and personal finances. Also I have switched industries from the Mortgage Industry (No Mortgages available to sell!!) to the Debt management industry. Which industry do you think will be a growth industry over the next few years? We all know the answer. Look at what your skills are look at adapting them to something that goes against the trend. I’ll bet my house on the fact that people with lots of disposable cash are piling into property now as its so cheap whilst everyone else is trying to sell. What happens? They get property really cheap and then sell when the market is high again. Sounds simple but what they are doing is going against the heard and they will profit massively.