Interesting Synopsis of Economy…..

…..from a source that I wouldn’t have thought of. He hits all of the points that I’m (very) worried about.

An Important Note of Caution by Tony Robbins

His main point (paraphrased by me): 70% of the economy is consumer spending. There are a lot of reasons that consumer spending is not going to rebound in the near future. Unemployment is a HUGE reason. Lack of consumer confidence is another. Banks are essentially insolvent, although he doesn’t use that word, but instead points out that nobody is borrowing and entities are going bankrupt and not repaying their mortgages and loans.

As he points out, fortunes can be made if you have the cash to buy when everybody else is selling. This is a great opportunity for anybody paying attention who is not in denial about the state of the economy. See what IS, not what the news media tells you to believe.

Fortunes can also be lost. If you’re highly invested in the stock market and aren’t an expert, this might be a good time to look very critically at the companies that you are invested in. Do they produce something essential that will be used/consumed in bad times as well as good? If you don’t know/aren’t sure, this might be a good time to sell out and wait on the sidelines.

It sounds like applied common sense to me.

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