ebook_24447_44889068 us economic cliffhanger

7/30/2019 eBook_24447_44889068 US Economic Cliffhanger

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The U.S. Economic Cliffhanger...


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Preface / Introduction

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I found this information in an Article: The American economy is now three years into an economicexpansion that ranks as the weakest in 50 years. A bruising and exhausting presidential campaigncentered on jobs and the economy is over, but its conclusion brought little relief. In the electionsaftermath, crisis fatigued citizens are confronted with yet another government contrived crisis the

fiscal cliff a name guaranteed to scare.This cliff hanger is political theater pure and simple. From stage right and stage left, the politicianstrundle into their familiar trench lines tax cuts tax hikes deficits debts spending. Thepublic posturing by itself is debilitating to the very economy it hopes to animate.


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Table of Contents

1. The next great economic disruption is coming. Are you ready for it?2. Jobless rate drops to 8.5%... Obama winks at Michelle and does his happy dance... O! Mamma!3. How To Manifest Wealth-A Way To Get All That You Want


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The next great economic disruption is coming. Are youready for it?

by Dr. Jeffrey Lant

This title is sure to startle people who follow the ups and downs of the economy with care andperception. "Economic disruption," they might say. "Whaaat? It is my distinct impression that things

economic are improving, slowly but surely. Am I wrong?"No, you're right. Things ARE improving, the signs are unmistakable:

Item: Online 2010 Christmas sales rose 15% this holiday season from October 31 to December 23.Online retailers took in $36.5 billion during this period, compared to $31.5 billion the same period ayear ago. (Note: apparel sales lead the way with $7.3 billion in sales, up 25.7 percent from a yearago.)

Item: Weekly unemployment applications of around 425,00 signal modest job growth. Suchapplications peaked at 651,000 in March, 2009.

Item: Companies increased their orders for long- lasting manufactured products by the sharpestincrease in eight months, the Department of Commerce reported before Christmas, 2010. Demandrose for computers, appliances, and heavy machinery... with overall expected 2011 growth at 3.5percent to 4 percent, up from 2.8 percent in 2010. Andante ma non troppo.

The rich are out and about buying things meretricious de rigueur for the country club set.

As retailers to the rich can unhappily confirm, wealthy shoppers, with their penchant for acquiringgaudy and overpriced items the rest of the world gets by quite happily without, were in short supplyduring the recession. This Christmas season of 2010 was very different. Mere bagatelles such asluxury automobiles and eye-popping ice were snapped up with alacrity -- and no buyer's remorse.

Said Michael J. Silverstein, a senior partner at the Boston Consulting Group in Chicago. "Manyhouseholds with incomes above $100,000 don't believe the sky is falling anymore. And when theydon't believe the sky is falling anymore, they want things." Amen.

For instance, some national chains and independent merchants expect double-digit increases injewelry sales for 2010, a dramatic turn-around from the painful 40 percent drops the hardest hitjewelers experienced since 2008.

So, if things are getting better bit by bit, why is this article about the next great economic disruption?

Because, quite frankly, the ease and abundance of good times are like a drug obliterating the painfullessons and memories of bad times... which all contributes to creating the next, inevitable bad times.Instead of losing the lessons of the still clear and painful past, we need to make every effort toremember them.... while preparing for the next great economic disruption for which we must bebetter prepared than the one from which we're emerging from now.

The great English romantic poet Lord Byron can assist us. One day his lordship received a messagefrom his demanding inamorata Lady Caroline Lamb to "remember" her. Tired to death of herincessant impositions, he sent her this message of unmistakable clarity:

"Remember thee! remember thee! Till Lethe quench life's burning stream. Remorse and shame shallcling to thee, And haunt thee like a feverish dream!

Lord Byron indeed would remember and rearrange matters accordingly ... and so must we all. After

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all, we all know that such disruptions occur at predictable intervals for which we must be ready.

Here are the preparatory steps to follow starting TODAY!

1) Start a "rainy day" fund. Build this fund by regular monthly additions until it represents at least 6months of total home expenses and not a cent less. Building this fund in good times takesexceptional determination, not least because in such times you want to "make up" for the things youwent without during the recession. At all times, therefore, you must remind yourself that the nextbad times are on the way... and that you are determined to be ready for them. Save then as if yourlife depends upon it... for it does.

2) Survey all expenses. If you think you did so during the bad times, think again. Now you knowhow many of these things you can comfortably do without. Root them out now... and put the savingsin the "rainy day" account. Turning current expenses into income-producing capital is a crucial partof how you'll get comfortably through the next bad times.

3) Review the damage the bad times made. Did you, for instance, borrow against an IRA account orlife insurance policy? If so, you must replace these funds by regular monthly payments, not leastbecause such borrowings are likely to have tax and high interest payment implications. These needto be taken care of ASAP.

4) Start your trek ahead with a clear understanding, with a precise, realistic appraisal of where youare today. Many people at this point in the economic cycle are deeply depressed by what they havelost. This is a mistake. Instead of fretting over what is gone from your asset balance, instead reviewwhat you have and consider just how you will improve your net worth.

Still more recommendations

5) If you are self-employed, as many people reading this article are, always make the maximumallowable contributions into your retirement account. Treat these as payments, as you would anyinvoice. And always pay these retirement payments first, before other bills.

6) Make the maximum charitable donations that you can. Your charitable contributions should beginin January of the new year... and not in December. You should set a dollar donation objective for theyear (in conjunction, of course, with your accountant.) Start working towards it as the new yeardawns and not as it exits.

7) Remove yourself from what I call the "squandering classes." Review each and everyexpenditure... not just for yourself but for any children still at home and old enough to have jobs. Allhave a responsibility to think first, determine whether this expense is in fact warranted, and reduce orgo without whenever possible.

8) "Batten down the hatches" for 1 month. As a test of your system and habits, live one month in thegood times as if it were one month in the bad. Cut expenses accordingly and see how easy (or

difficult) your life would be in recessionary times. Such a drill should yield many good ideas as wellas clarity on your spending habits.

Death, taxes, bad economic times

When I was growing up people said there were 2 great inevitabilities of life: death and taxes.However, there is in fact at least 1 more: bad economic times. Count on it. They will recur in yourlife over and over again.

Will you be ready for them?

You certainly will be if you treat them as the certainties they are and prepare accordingly, along the




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lines of this article. Doing so, when they arrive you will have nothing to fear, and that places youamongst the very smartest and best prepared, the ones destined to ride out the next great economicstorm in comfort and with quiet satisfaction.




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Jobless rate drops to 8.5%... Obama winks at Michelle anddoes his happy dance... O! Mamma!

by Dr. Jeffrey Lant

It is Saturday, January 7, 2012 as I write. The nation's air waves and print publications are filledwith stories about Republicans. About today's flash-in-the-pan former Pennsylvania senator Rick

Santorum... about the Boston Globe endorsing former Utah governor and U.S. Ambassador to ChinaJon Huntsman over Boston's not-so-favorite son former Massachusetts governor Mitt Romney.Bummer, but what can you expect from that crowd anyway?

Despite that little drawback, it's the Romney people who are cock-a-hoop this morning not onlybecause they are ecstatic to be running against a pigmy like Santorum, whose friends and neighborsin Pennsylvania refused him -- and by a huge number -- a third U.S. senate term. Even better today'slatest poll results show Romney still romping to an avalanche in the crucial New Hampshireprimary, and, lordy, lordy, way out in front in what could be the make-or-break primary in SouthCarolina. I hear Mitt's got all those toothsome boys of his learning to deliver a winsome a cappellaversion of "Hail to the Chief." Cute.

If all this is so -- and I assure you it is -- why did one Barrack Obama, after seeing a certain newsitem on the front page of all the newspapers he reads with voracity, take Michelle in his arms andwhirl her about the breakfast room letting those delicious blueberry scones he loves get cold?

It's because of this single number: 8.5%. And you don't have to be a political junkie to know what itmeans: It's the latest piece of welcome news... in what is getting to be a lengthening string of suchnews... because every time the jobless rate drops the political fortunes of Barrack Obama go up.Let's review the facts that make the First Mom and Dad so awfully cheerful, even giddy.

8.5% unemployment means the lowest rate in almost 3 years.

Barrack Obama is a very fortunate man, a man who can say to America, with complete factual

accuracy, too, that "You've never -- at least in my Administration -- had it so good."

The nation added a tidy 200,000 jobs in December, 2011, a burst of hiring that drove theunemployment rate down to its lowest point in just under 3 years. Tra la!

Moreover, December was the sixth straight month that the economy added at least 100,000 jobs, thelongest such streak since 2006. As a result of this happy-making data, more and more practitionersof the dismal science have resoundingly concluded there's a dance in the old dame America yet.

What makes a weak and vulnerable president purr with contentment?

Just this. The unemployment rate declined to 8.5% from 8.7% in November, and 9.1 percent at the

start of 2011. The jobless rate peaked at 10.1 percent in October 2009.

These numbers made Sung Won Sohn, an economics professor at California State University,Channel Islands, positively rapturous. "There is more horsepower to this economy than mostbelieve. The stars are aligned right for a meaningful economic recovery." Obama when he read thiswas heard to mutter "From your lips to God's ear" and beamed a mega-watt smile that had been littleseen throughout the early days of his watch.

More good news.

But heart-warming though all these data were to the residents of 1600 Pennsylvania Avenue, theywere only a portion of the good news arising from grass roots America. For instance, the nation




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added 1.6 million jobs in 2011, on top of 940,000 added in 2010. Mind you, more than 8,000,000jobs were lost in the Great Recession that began in December, 2007... but this figure was History(and therefore of no interest) whereas the jobs added were very much about the present and give thePresident credibility when he launches into a rousing rendition of Franklin Roosevelt's iconic ditty,"Happy Days Are Here Again," the tune that always means we have something good to smile about,wide and broad, and which you can find in any search engine, to play along with this article.

The pretzeling of presidents; their dexterity with astonishing contortions.

Now President Obama knows... every Republican presidential candidate knows... every member ofthe Congress knows, whatever party they adhere to, that the good news is only part of the report, butwhat's a politician for if he can't take a crumb and turn it into a bakery?

Take this bothersome conclusion, for instance, the considered opinion of Eric Rosengren, presidentof the Federal Reserve Bank of Boston. He said just a couple of days ago that he expects theeconomy to grow modestly this year -- 2 to 3 percent -- despite signs of building momentum.

The reason for this deflating opinion is that households and small businesses were especially hard hitduring the recent economic turbulence now widely called the Great Recession. Until these sectorsimprove and get distance from their particular issues of foreclosure and falling house prices, the

recovery won't be as glittering as you can be sure Obama and the Democrats will paint it. You canbe equally sure Mitt Romney will be assiduous, morning and eve, about pointing out this and everylapse from the strict Truth.

Keep in mind that Mitt, too, is a close reader of these data and learned predictions. And more to thepoint, as a business wunderkind, practiced in high level (and very lucrative) leggerdomaine, he is themore likely to glean helpful suggestions and ideas from what he sees than Obama, who was a merelawyer (albeit, like Mitt, Harvard trained.)

Thus, whatever Rosengren and his ilk recommend, Mitt will (with alacrity) recommend... whilestrongly censoring Obama and his minions for not having acted. Rosengren wants the ObamaAdministration to do more to stimulate the economy.... Mitt does, too, whilst Obama (whatever he

has done) has done it too little, too late. Rosengren says the housing market and small businessshould be a particular focus, because these two sectors have traditionally lead the nation out ofrecession and unemployment... but not this time round. Mitt says ominously that is because ofObama's ineptitude and lack of vision. Obama will point to what he has done for those folks... whowere always in his mind,his heart, and his political calculus. He well knows he needs these people,especially with the acute disappointment and chagrin of Blacks, Liberals, and young voters (withhigh unemployment rates) who were once wild for Barrack but now mutter darkly about how theywere hoodwinked and deceived by their hero and his mastery of high sounding, flatulent rhetoric.

And so it will go, ad nauseam, until our can't-come-quickly-enough-for-me November Election Dayconfirms what most of us already feel in our bones...

... that the President will defeat Mitt in a solid but not overwhelming victory.

... that both houses of the Congress will be comfortably Republican.

... that Obama's second term will be in such slow motion and so undistinguished you'll think theWhite House Sleeping Beauty's castle, all asleep.

What then should der Mittster do, when he's handed the worthless presidential nomination of hissplintered party? Easy. He should tell the truth, the straight-forward, unvarnished truth about wherethis country is going and offer SPECIFIC proposals of the type congenial to policy wonks like him.In this role the Romney too few like to make him President will become respected and even admired,




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his considerable merits at last put to proper and significant work, saving America as he once savedthe Olympics; greatly honored by all who love the Great Republic and wish her Godspeed.

*** What do you think? Your comments are invited below.




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How To Manifest Wealth-A Way To Get All That You Want

Life is funny isn't it? You work hard to get all the things you want, but you seem never get them, andsometimes it feels like you are going backwards. Why can't you catch an even break? The answer isthat you can have all that you want, and more, when you discover how to manifest wealth.

1. Belief is everything. Everything you have, good or bad, is the result of your beliefs. For example,if you think you can't sing well, then you are right. However, if you would like to sing and believethat it's possible, even remotely possible, then you can move forward and improve your singing.Beliefs can be deep-seated and they can take time to discover and change. New beliefs can take timeto adopt, but you can bridge the gap between non-belief and belief by believing that you will believesome day.

2. What you have isn't the same as what you will get. Too many people fall into the trap of believingthat they will always have what they have. These are the people who make excuses and are quick toblame others. Maybe they say that they aren't educated enough, or that the government is keepingthem down, but that's nothing more than justifying their own bad situation. You don't have to be likethat. Once you understand how to manifest wealth, you will also understand that the future has betterthings in store.

3. Positive expectation is the key. Once you believe you can get what you want and you start tounderstand the "good stuff" is coming, you need to wait for it with positive expectation. Imagine akid seeing a bunch of presents under the Christmas tree. The child knows the presents are for them,and it's only a matter of time before they can rip off the wrapping paper to see what's inside. That'sthe feeling you should have.

4. Be receptive. Another key to manifesting wealth is accepting the good things that come your way.Just about everybody thinks they would be more than happy to take any wealth that was offered tothem, but you can do a little experiment to see if this is true. Take a five-dollar bill and try to give itaway to a stranger, with no strings attached. You may be surprised at how many people eye you

with suspicion and refuse to take the money. Would you take it? Being receptive is how you showyou are ready for wealth, so get in the habit as soon as you can.

5. Be thankful. Gratitude is a wonderful characteristic. Have you ever given a gift to someone, onlyto have them say something negative about it? Not only do you start wondering why you gave themthe gift, but you start to think about whether or not you will give them any gifts in the future. Thesame concept comes into play when learning how to manifest wealth. Be grateful for what you haveand more good stuff will come your way.




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Resource

About The Author Harvard-educated Dr. Jeffrey Lant is CEO of Worldprofit, Inc., where small andhome-based businesses learn how to profit online. Attend Dr. Lant's live webcast TODAY andreceive 50,000 free guaranteed visitors to the website of your choice! Dr. Lant is also the author of18 best-selling business books.

Republished with author's permission by Elizabeth English http://LizsWorldprofit.com.

http://lizsworldprofit.com/http://lizsworldprofit.com/

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