How hard is it for "people" to realize that the US and EMU are in a "DEPRESSION"? How hard is that to swallow? I mean, how many "people" and "companies" will continue to deny this and continue business as if nothing is going on? I have been advising my clients to re-structure since 07, to thin out the wasted expenses and to become a lean and mean machine. I'm also advising my clients to only cut wasted cash out flows....not "CUT BACK IN SPENDING". Big difference. Putting cash to work and growing their business is the most important task in the next decade. Every single one, regardless of the country they are in, agree and have A: admitted that the world economy is beyond a recession and the US, EMU are in a depression. B: they have cut wasted cash out flow. C: They are putting hard money to work in expanding in key arenas and aggressively moving in on the weaker competition. D: they are also creating "NETWORKS" of Business Partners to build relationships with and to help each other grow revenue. My strategy is call "Knights of the Round Table". Nothing new, not reinventing the wheel. All my clients are Privately Held companies. They are not subjected to the same "Shit" public traded companies are, mainly the volatility of the stock market effecting their companies profits or capitalization. Many are ESOPs and many have private Investors (which I find ) that have private holdings in these companies. So far, the majority have not only weathered this Economic Storm but they are growing their revenue quarter over quarter. All the people have to do in the US is adopt a similar model to live by with their own finances and careers. Individuals need to try and have multiple income streams, preferably work for themselves or as 1099 on all income streams. They should build a "Knights of the Round Table" and work on building those relationships and growing their personal income. They should cut back on wasteful debt......Car-should be paid off , If you can't afford a 100k car in cash, DONT BUT THE FUCKING THING! Stop pretending you ROLL and stop spending 100x one's earings. It amazes me. The truth is going to bitch slap so many in this country and the EMU in the next few quarters, it isn't even funny. No matter how bad things get, money is always made in all kinds of Industry.
Thrift and frugality are virtues of a bygone era. Unfortunately, those virtues will be imposed by default as time goes by, as Americans wake up to the fact the gov't teet is barren and self-reliance becomes survival. I notice you are periodically attacked on this website by the clueless and know-it-alls for stating the obvious. Keep reminding em', maybe it sinks in one day.
I live in a 10 million Eurozone country as small as 360 square km that is basically divided into 2 parts. The one part is home to a population richer then the Swiss, the other part has youth unemployment worse then the Spaniards. Say to someone living in the first there is a depression he will say what? Say it to someone living in the other he will say man it's been like this for years. This is probably the case globally. Even in the depression of the 30's some places in the US did ok. In order for the rich part to feel the pain of the poor parts there will have to be a force majeure like a bank collapse, war or government bonds going down Greece style. Untill then things will just muddle along and step by step deteriorate without most even noticing it.
BTW, Belgium is a wonderful country, especially loved Brussels. The point you made is dead on. Most of America is either treading water or doing quite poor. California is an interesting example in that most of the state is doing very poorly, but the liberal elite there are doing very well, ie Silicon Valley, Westside LA, parts of SD. The same is true in many blue states; the white liberals are doing well while the rest of the state rots. So the white liberals will still vote Democratic even as the lives of most of the population stagnates or gets worse, and parts of the underclass will vote Dem for handouts or whatever reason. This is why even though the US is at a double dip recession Obama still has a forty plus approval rating. A republican would be near impeachment by now. EDIT: Do you think Belgium will split?
Budcampbell: LOL, yea the clowns try and attack. The crazy bit is, I live the World Financial Markets, in a Private Equity capacity, 24 hours a day. Meaning, I can deal with China, Indonesia, India, at night, Africa, Arabs, Turkey in the early early morning, or EMU, South American, now....in fact was just on Skype with Brazil. So, while these "Supa Star traders on ET" try and attack, I really play the game of building wealth. I did trade for about 8 years. I had some success and then I also lost money. I worked for one of the best Day trading firms during my rookie years, then moved on to Hedge fund in the options arena, and finally traded with a friend, who is now running one of the top hedge funds for GS in Asia. However, I did not make millions in profits. I did make "millions" but none of it ever flowed into my person bank account. I also lost 7 figures of firm money. from 03-end of 04 I finally put up a profit, of about 200k that I kept. Then we shut down are small group and game over. So, while I know most the pikers here are not traders, and while I know that "Day Trading" in general is dead...and while I assume that 90% of et Park 5k in a pooled money account for some lame ass bucket shop or have under 100k buying/shorting power in IB, getting ripped off in commissions compared to working with a credible clearing firm that requires, assets, capital et all , their attacks roll off my back as I laugh and shake my head. Ak100- Spot on man. Debaser- I'm currently calling Swiss Prospects ( of course not at this precise moment.) The vibe I'm getting from that area is, a strong little economy other than the Inflated currency that has really cause cost of living and cost of money..to rise for business....other than that, they are like "TEXAS" here in the US. They feel some pain but nothing like the rest of the world.