Sunday, March 15, 2009
Saturday, March 14, 2009
The Depression and Recession...How does it shape Financial thought
In a recent article in the March 8th 2009 Week in Review article titled Generation OMG, the parallels of the effects of the Great depression and our now Great Recession show some surprising things. If you are not aware of this, in the 1930's, the United States was in what is called a Protectionist state. What this means is, as a country we kept to ourselves and wanted less to do with the world. This had a profound effect on the children growing up at that time. It kept them simple, unimaginative. According to the article, many of them were not adventurous and were not inclined to start businesses etc.
When you look at this recession we are in today, the fear is that this mentality and thinking has a good chance to repeat. This is not good to look forward to. As the article puts it, The Depression "...created the risk-averse generation." "In job interviews, the first thing Depression babies asked potential employers about what was the pension plan". In my opinion, many of us are STILL stuck in thought process as a result of our education. This generation "produced more than a dozen White House chiefs of Staff, but not a single president". So the recession today is creating this same bubble of protectionist attitudes for our children. Keeping to ourselves and thinking we dont have to worry about the world and what happens in it is a VERY dangerous thought in this interconnected society. The time to consider and take hold of this trend is now!
The entitlement attitude in todays society is very apparent. Our dependence upon the system has placed many of us now in very bad and dangerous circumstances. The biggest difference between the Depression era and our recession era is the way the world and economies operate today vs then. Having an entitlement or "protect me" attitude, as we can clearly see today, WILL NOT WORK. The banks need a bailout. People thought the banks and government would do right by them and took on mortgages they should never have had.
The point I am trying to make with all of this is that we need to strike out NOW and take care of ourselves. We need to fight against the traditional thought that we are going to be taken care of. Social Security is a JOKE and will NOT help you. (A concept thought up after the DEPRESSION...does not work TODAY!!) The crisis today destroyed the concept of 401k as a nest egg. Look at how MANY have no retirement money. Many are going back to work in their 60's and 70's. (How will your health be by then...the U.S does not rank very highly as a healthy country...a topic for different forum).
The time to learn about money, finances, banking, business...preferably now home businesses, investing etc is NOW. DONT WAIT for someone to find your solution. LOOK NOW if you can to learn. Dont stay in your entitlement mentality...Just look...if you are having or see others having money issues...is the Government helping them or you? Who is going to teach you? Are you going to go with the same financial advice? Look at the times. See the world around you and take action. Create your own bailout. Dont go towards the Depression mentality...or the changes in the world today may overcome you.
When you look at this recession we are in today, the fear is that this mentality and thinking has a good chance to repeat. This is not good to look forward to. As the article puts it, The Depression "...created the risk-averse generation." "In job interviews, the first thing Depression babies asked potential employers about what was the pension plan". In my opinion, many of us are STILL stuck in thought process as a result of our education. This generation "produced more than a dozen White House chiefs of Staff, but not a single president". So the recession today is creating this same bubble of protectionist attitudes for our children. Keeping to ourselves and thinking we dont have to worry about the world and what happens in it is a VERY dangerous thought in this interconnected society. The time to consider and take hold of this trend is now!
The entitlement attitude in todays society is very apparent. Our dependence upon the system has placed many of us now in very bad and dangerous circumstances. The biggest difference between the Depression era and our recession era is the way the world and economies operate today vs then. Having an entitlement or "protect me" attitude, as we can clearly see today, WILL NOT WORK. The banks need a bailout. People thought the banks and government would do right by them and took on mortgages they should never have had.
The point I am trying to make with all of this is that we need to strike out NOW and take care of ourselves. We need to fight against the traditional thought that we are going to be taken care of. Social Security is a JOKE and will NOT help you. (A concept thought up after the DEPRESSION...does not work TODAY!!) The crisis today destroyed the concept of 401k as a nest egg. Look at how MANY have no retirement money. Many are going back to work in their 60's and 70's. (How will your health be by then...the U.S does not rank very highly as a healthy country...a topic for different forum).
The time to learn about money, finances, banking, business...preferably now home businesses, investing etc is NOW. DONT WAIT for someone to find your solution. LOOK NOW if you can to learn. Dont stay in your entitlement mentality...Just look...if you are having or see others having money issues...is the Government helping them or you? Who is going to teach you? Are you going to go with the same financial advice? Look at the times. See the world around you and take action. Create your own bailout. Dont go towards the Depression mentality...or the changes in the world today may overcome you.
Friday, March 13, 2009
The Crisis of Credit Visualized - Part 1
We are all affected by this credit market. Consider how you will recover if these organizations wont help.
Saturday, March 7, 2009
Did you know? Technology.
These are some very amazing truths that you should pay attention to...It WILL affect you if you desire it or not.
Friday, March 6, 2009
Sunday, February 1, 2009
Dumbing yourslef Down?
I just had to share this with everyone. I was watching CNN yesterday and I saw a piece on what some people are doing to get A job. It did not even matter if it is one they really wanted.
The story takes place in Idaho. It was found that many people were "dumbing down" their skills and credibility for a position just to qualify for ANY position the company may have. Turns out the reasoning for this is because so many companies are laying off, if they do have positions, they may be for lower end positions. Positions that don't need quite a varied set of talents or skills. The funny thing about it is that for some this is what is getting them a check again. All things being equal, I don't blame them one bit.
Its amazing to me how a recession of this magnitude changes the landscape and rules of that JOB. All of a sudden when things get tight, people are willing and motivated to adjust not only what they do but who they are to obtain a source of income...wages in this case. For all the problems we are having, I believe in a way that this bas situation can work out well for some. I say this because hard time tend to reshape us and redefine who we are or what we chose to do in our lives. I am sure we have all heard stories of change through adversity. Whoever you are, I pray that if adversity has hit your life you can find what you need. Redefine yourself in these tough times. It can be done.
The story takes place in Idaho. It was found that many people were "dumbing down" their skills and credibility for a position just to qualify for ANY position the company may have. Turns out the reasoning for this is because so many companies are laying off, if they do have positions, they may be for lower end positions. Positions that don't need quite a varied set of talents or skills. The funny thing about it is that for some this is what is getting them a check again. All things being equal, I don't blame them one bit.
Its amazing to me how a recession of this magnitude changes the landscape and rules of that JOB. All of a sudden when things get tight, people are willing and motivated to adjust not only what they do but who they are to obtain a source of income...wages in this case. For all the problems we are having, I believe in a way that this bas situation can work out well for some. I say this because hard time tend to reshape us and redefine who we are or what we chose to do in our lives. I am sure we have all heard stories of change through adversity. Whoever you are, I pray that if adversity has hit your life you can find what you need. Redefine yourself in these tough times. It can be done.
Thursday, January 29, 2009
The Importance of a Plan B
If you have not read the little Bio I have on myself, then you missed that I am a licensed pharmacist in NY. That being said, I can say through personal experience that I have witnessed first hand the ravages on families that poor health can create.
I want to share with you a story that I just experienced first hand today. In doing so, I feel this will provide everyone out there with a great reason to start pursuing a Plan B for their financial future.
Early this morning, I received some prescriptions for a patient at a major NYC hospice. The patient is clearly dying and is on a great deal of what we call palliative medicine. These are medications to keep you comfortable. This patient only had their new Medicare Part D coverage instituted by President Bush and a secondary card to cover copays. Once I had finished processing the medications, even with supplemental insurance, the copays came close to $500. I had the unpleasant task of calling the patient's wife to ask how she was to pay for the medications. Here is the crushing part. She tells me that she must have his medications. However, she has no money left. She and her husband are on fixed income through social security. She herself has advanced Multiple sclerosis and already has heavy bills of her own. She tells me that all she can do is continue to charge on her card until she cant any longer. Her last statement to me was "soon enough, we will all be on Medicaid." She also said "things like this are easier to handle when you are earning a living and have a job."
This story is tragic already. What makes this situation all the more difficult to handle is the lack of money. Its hard enough coping with the loss of a loved one. Not having the money or resources to provide for them the way you want to makes it the harder to handle.
Now we should all look at this and learn. We cannot afford to rely on our J.O.B to be our safety net. We clearly can see Social Security is not a help at all. Although 401k have their place, they may not be the all out vehicle we need to be comfortable and secure in the retirement years. The point is that if there are alternatives to the 9-5 that can increase our income consistently, residually and passively, why are we not doing it? Why do we continue to stay in the rat race?
Considering your own business, whatever it might be should be of paramount consideration for those that feel they have what it takes to make it happen. I believe you can accomplish anything you put your mind to. Look at me. I studies science, not business. Yet that is where I am going. That is what I am learning. I have taken my desire to help others and put it to a different health....Financial health. As I continue on my journey and grow and gain the wealth that is possible, I will be helping many. When that happens.....I will sleep real well at night!!!
I want to share with you a story that I just experienced first hand today. In doing so, I feel this will provide everyone out there with a great reason to start pursuing a Plan B for their financial future.
Early this morning, I received some prescriptions for a patient at a major NYC hospice. The patient is clearly dying and is on a great deal of what we call palliative medicine. These are medications to keep you comfortable. This patient only had their new Medicare Part D coverage instituted by President Bush and a secondary card to cover copays. Once I had finished processing the medications, even with supplemental insurance, the copays came close to $500. I had the unpleasant task of calling the patient's wife to ask how she was to pay for the medications. Here is the crushing part. She tells me that she must have his medications. However, she has no money left. She and her husband are on fixed income through social security. She herself has advanced Multiple sclerosis and already has heavy bills of her own. She tells me that all she can do is continue to charge on her card until she cant any longer. Her last statement to me was "soon enough, we will all be on Medicaid." She also said "things like this are easier to handle when you are earning a living and have a job."
This story is tragic already. What makes this situation all the more difficult to handle is the lack of money. Its hard enough coping with the loss of a loved one. Not having the money or resources to provide for them the way you want to makes it the harder to handle.
Now we should all look at this and learn. We cannot afford to rely on our J.O.B to be our safety net. We clearly can see Social Security is not a help at all. Although 401k have their place, they may not be the all out vehicle we need to be comfortable and secure in the retirement years. The point is that if there are alternatives to the 9-5 that can increase our income consistently, residually and passively, why are we not doing it? Why do we continue to stay in the rat race?
Considering your own business, whatever it might be should be of paramount consideration for those that feel they have what it takes to make it happen. I believe you can accomplish anything you put your mind to. Look at me. I studies science, not business. Yet that is where I am going. That is what I am learning. I have taken my desire to help others and put it to a different health....Financial health. As I continue on my journey and grow and gain the wealth that is possible, I will be helping many. When that happens.....I will sleep real well at night!!!
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