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The coming depression blog | July 21, 2018

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Economy tantrums around the Globe

We are living in a dangerous period in America. The pitiful state of the economy has exposed a volatile split in the way people view the current state of our nation. Taking it to the streets. What began with dozens of ne’er-do-wells on Constitution Day (September 17th) is now a multi-continent event. With the “Day of Rage” on October 15th we witnessed thousands in the streets across Europe, and thousands more at home. The Occupy Wall Street movement came out of nowhere. In just 4 weeks we have a movement that has gained some real traction. The young people who started the Occupy Wall Street protest a few weeks ago are about to learn some important lessons about life in the grown-up world.

Small business owners also have mixed views on the protests and whether or not they will do anything to effect change. According to a Facebook poll asking business owners whether or not they support the protests, the majority (51%) of participants claimed that “there are better ways to effect change.” Many small business owners who have built their own businesses from scratch feel that the protesters don’t have a right to complain until they attempt to start their own business and therefore create more jobs and employ themselves. The Occupy Wall Street protests have been going on for a month now and have spawned similar protests around the country and the globe.

It is truly amazing that something as mundane as the economy has set my generation to action. However, it seems more like a temper tantrum as none of protestors apparently know anything about economics. Now these protests have gone global, with “occupy” protests in Tokyo, Greece, France, Italy, and 82 countries in all, well, at least that is the embellished number we are getting from its main supporters and financiers anyway. For those who don’t see that this strategy has failed to work in many countries around the world, perhaps they should take a trip to Venezuela and see what the effects really look like. People don’t get richer under a regime like this, everyone just becomes equally poor.

Americans have always been able to come together against an external threat or problem that needs solving. Yes, we do have a terrible habit of waiting till the water level reaches our noses before acting, but I fear we are losing our ability to pull together and get problems solved. It appears we have turned into a nation of blame placers. The Occupy Wall Street crowd has rightly identified some of the symptoms of our decaying society. Now we need to attack, with vengeance, the real disease.

Many people who can’t get jobs are taking matters into their own hands. They are starting businesses and beginning to take more ownership in their human capital – their ability to produce income based on their unique skill set. Consider modeling a financial planning scenario where you start your own business, and use that income to save for your retirement.


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