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How To Prosper During Bad Times

(1 customer review)

$3.00

Many people often associate the economic downturn with the lack or absence of opportunities. “It’s simply impossible to make money, much less to prosper, during an economic recession or depression.”

This is absolutely not true.

Because the truth is, economic recessions, or it’s an uglier cousin, economic depressions, are just the perfect opportunities that anyone with vision can take advantage of to become not just rich – but filthy rich!

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For the record, no less than America’s second-richest person alive, Warren Buffet, whose personal fortune reached a dizzying $48 billion, before he decided to give $31 billion back to society, can attest to this.

Warren Buffet built his massive fortune buying businesses and properties that most people had given up as lost. To many businessmen, he is the great rescuer who bailed them out of their economic miseries.

But of course, Warren Buffet saw more than rescuing them out of their economic woes. If he sees no value or potential in their businesses, he sees no reason to buy them.

But what exactly does he know that ordinary mortals don’t usually know about economic downturns?

First and foremost, economic downturns don’t last. During bad times, Prophets of Doom would say the worst things about the economy.

Of course, things are bad. But they only remain bad to a certain point. This is because of the thing called the Economic Cycle.

Economic Cycles are periods in the history of booms and busts. Economic cycles are the hallmarks of the laissez-faire system. Economic cycles behave just like the seasons.

And just like the seasons, the climate always changes. And just like the seasons, you can predict a downturn or an upturn.

What happened just after the turn of the 20th century was a classic example of an economic boom suddenly gone bust.

In the roaring ’20s, people thought that there was no stopping to the prosperous times. Until one day, people started dumping stocks at such a frenzy that it sent the whole world is probably the worst economic depression in history.

By all means, the signs of a coming collapse were present. Stocks were at an all-time high. In fact unreasonably high. And people were living beyond their means.

The same thing happened again with the housing market in 2007. The sense of affluence was everywhere with home values skyrocketing.

Because of the high cost of homeownership, many Americans were forced to borrow beyond their means. The result was a credit crisis that sent the world reeling again in another round of recession.

So the question now is if we could predict an economic downturn, could we also predict an economic upturn?

The answer is yes.

If you religiously watch CNBC or read CNNmoney.com, you’d find that home prices had already gone low enough to attract the buyers back.

But how low it could get is the question. Prospective home buyers are still in the sidelines waiting for better bargains. The question this time is when will they decide that the price is already right enough to make them buy?

These articles will open your eyes to the realities of economic cycles and the opportunities that you can take advantage of for your personal economic growth.

1 review for How To Prosper During Bad Times

  1. James

    Good information.

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