Herman School of Business
What part of "Going Broke" don't you understand?
Folks this is Henny Penny speaking. The Sky Is Falling!
Today’s new price forecast on GM’s stock is out…it’s expected to go to…ZERO. ZIP, NADDA. Adios to your retirement portfolio. As people waking up today realize the stock market has continuously lied to themselves and to the shareholders, people will stop putting new money into the market. Money going in seems to be dropping faster than we can get it there.
Oh, right now one talking head is showing you how much you can make “buying on the dips” and then selling a few days later when it rises. Sorry, most people are at work trying to make a paycheck and not staring at a quote machine spiking up and down all day. In fact most people are the DIPS…for staying while the shrewder macgrewders keep churning your money in those safe mutual funds, hedge funds and various institutional accounts which seem to be losing at a phenomenal rate this year. Wait until you see the fourth quarter earnings reports and pay attention to their “guidance” for the future expectations.
Get yourself out of freaking debt starting right now. Everything you own is going down in value. Everything. So you will be paying for this stuff for years as it keeps getting worth less and less. Sell what you can now…apply the money to debt reduction…and then your debt will disappear faster.
Why are people clinging to their over-priced homes like that cat on the old poster that said “hang in there baby” when you know every month it keeps sliding downward in value?
Do you want to know how to make ten, twenty or even fifty thousand dollars this year by doing just one thing? If you couldn’t rent your house for the amount of the monthly mortgage you owe…sell that sucker…and go rent someone else’s over priced house. You will either get cash back from the sale, or you can “short sell” to stop that painful check-writing every month. Either way…you start saving money. And where does your making ten, twenty or up to fifty thousand dollars this year come from? Because, you will probably HAVE to sell your house next year anyway and then it will be worth ten, twenty or fifty thousand dollars less.
Does anyone want to launch a new business selling T-Shirts that will say:
WE’RE GOING BROKE…
AND THAT’S NO JOKE!
- Posted: 10 November 2008
- Comments: 0
- Category: Selling a business
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