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How to Survive & Thrive in Tough Times - Part 2

Written on the 8 December 2016 by James Cagney

When the BUST in the Boom-Bubble Bust Cycle hits Australia many will feel helpless because:
  • They ignored the warning signs and were not prepared.
  • They were too busy with everyday life and there is no time to think about the future.
  • The boom which has lasted since 1991 will be over and the bust will surprise most non-vigilant people especially the Gen Y's and Millennials who have never lived through a recessionary period.
  • We were shielded from the worst of The Global Financial Crisis (GFC) because the Australian government threw $500 Billion dollars into the economy providing jobs for many Australians.
  • Our blinkered typical Australian attitude of "she'll be right mate".
I do not like being a PROPHET OF DOOM and I do try to be positive about the future. There will be opportunities for those who make the decision today to attempt to "See Things differently".  We view life based on our upbringing, our education, the influence of our family, friends and colleagues, our own life experience and our perceptions of life ( we do not see things as they are we see things as we are). 

In the movie "99 Homes" Rick Carver (Michael Shannon) is a principal of a real estate agent who sold houses prior the Global Financial Crises (GFC) in California.   During the GFC the banks were foreclosing on homeowners who could not pay their mortgages. Dennis Nash (Andrew Garfield) had taken out a business loan to start a construction business which went bankrupt during the GFC and could not repay the loan.  Rick Carver, under instruction from the bank, evicts Dennis Nash who lives with his mother and his son. Dennis was raised in the house and the experience is traumatic for him and his Mum and his son.  Dennis goes to work for Rick Carver as a handy man because he can't find any other work because of the GFC.  Rick Carver takes a liking to Dennis Nash and starts mentoring him how to make money during the GFC. Whilst driving through a nearby suburb Rick asks Dennis what he sees and Dennis shrugs and says "I see houses".  Rick replies and says "I see opportunities to make money."  During the GFC Rick Carver's business had changed and the focus of his realty business was now making money on the many bank foreclosures. What Rick was seeing were houses which were empty, mail overflowing in mailboxes and overgrown front gardens. This was a tell-tale sign that the owners  or occupants had vacated the premises and thus presented an opportunity for him to make money.

Just like Rick Carver that's what you have to do to prepare for the coming BUST. I don't mean go into foreclosing houses for the banks (watch the movie to see what a terrible job that is) but you have to put on a new pair of glasses that will help you spot opportunities.

By the way, do try and watch the movie "99 Homes" and you will get a glimpse of what the banks can and will do to unfortunate people who can't pay their mortgages. At present you will not see much in the media about this because it not sensational news. However in a BUST thousands of people will be losing their homes and the media will be all over this. Make sure you read Part 1 of "How to Survive and Thrive in Tough Times" to see which industries are going to feel the squeeze and where some people will be losing their jobs. They are prime candidates for the banks to foreclose on. Click >>> PART 1 of the article I publishe "How to Survive & Thrive in Tough Times" to see how you will fare in the coming BUST phase.

I urge you to PREPARE. PREPARE. PREPARE for the coming BUST phase of the Boom-Bubble Bust Cycle.

In Part 3 of this series of articles I give you:

  • Motivational stories of people who did well during BUST periods.
  • A formula for guaranteed success
  • How to detect a scam and avoid losing your money
  • Safe investment during the BUST
I am reminded of what Albert Einstein said "In the middle of difficulty there is opportunity." Click >>>PART 3 to discover gain the knowledge

If you want to get started before next week "Procrastination is the thief of time" call James Cagney on +61 416 137 645 or click >>> HERE.

DISCLAIMER

This is not financial advice. You should not act solely on the basis of the material contained in this article for your investment strategies. Changes in government and legislation occur frequently and without prior notice and financial markets are unpredictable.
Please note that the information herein is of a general nature only and is not intended as specific advice for any particular person or entity.

This information was written and compiled by James Cagney.  The opinions expressed herein do not necessarily represent the views and opinions of his associates including
Asset Finance Pty Ltd.


Author: James Cagney
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