Today the DOW plummeted over fears of a US recession. "Fears of" immediately grabbed my attention due to the fact we're "IN" a recession (and "have been" for about 6 years now. While I realize this is sounding like the all too familiar rant on 'how can some people be so mislead', since we keep having to have the conversation, we're going to keep needing to share the reality this isn't new news.
Today. Some of the legitimately wealthy, will watch as some of the wannabee wealthy scramble to get out of their stocks by cutting their losses with losses. Tomorrow. Those same legitimately wealthy, will go back in and buy up & back stock driving the markets up (now or later) at which point they will sell off to the wannabee wealthy at higher prices points and get out. ‘Fearful when people are greedy and greedy when people are fearful’ Warren Buffet (he’s done well).
This game has and will continue until the wannabe wealthy understand a few things.
1. Fear and Greed are two of the most powerful primary human motivators. Leaders know this, marketers know this, media knows this and when you’re feeling nice a relaxed, in a crumpled mess of wood pieces – they YANK THOSE STRINGS AS HARD AS THEY CAN AND MAKE YOU DANCE.
2. YOU don’t buy your way out of a recession. WE WORK your way out of a recession. Does anyone recall Obama’s speech where he said something to the effect of ‘we will have to work through some tough times together, but if we’re committed to working together we can make it’ or.... Did we just hear what we wanted to hear ‘yes we can!’
3. Times are a changing. Technology for one, the same miracle that enables you to access things more easily is the same miracle that’s made it easy to replace you.... more easily. This is a HUGE ‘not seeing it’ for most until it’s too late. For those reading this post, start thinking about what you can do to remain relevant bcs the middle class of jobs is about to be eradicated. It’s high end and bargain basement polars.
And until the masses concede & look to be the change they want in the world (eg: wanting it to work), we will ride this roller coaster all the way to the 3rd world country.