Being Bold in Rough Economy

The economy is in deep trouble.   It’s bad now, but this is just the beginning.   There will be fundamental changes in the global banking system, the use of credit and the value of currencies.   It’s going to be rough.

So what do you do?   Wait it out?

I think this is a time to be bold.   Not stupid or careless, but bold.

So, in keeping with my “Be Bold!” strategy I’m still spending money, investing and growing my business.   In fact, I’m working on buying a pretty expensive domain name for a project right now and I plan to launch two completely new businesses in the next two months.

One of my biggest sources of income is selling domain names.  [I’m not talking about ultra-premium names I’ve kept in my portfolio for years either.   I’m talking about buying and quickly reselling domains for ~$300 each.]    Anyhow…In September of 2008, it really appeared that this part of my business was on a serious decline.   I couldn’t help but only expect it to get worse.

But, As quickly as my domain sales went down, they came back.   Right now, January 2009 is looking like my second best month ever.   How much money did I make flipping domains this month?  It’s a big number, trust me.

So, if I’m selling domains, that means people are still buying.   The world (especially the world of entrepreneurs and small businesses) is made up of innovative people who will strive to survive the downturn.   But more than that, there are many that will “Be Bold!” and take advantage of opportunities and weakness in the marketplace.

Your task, if you want to thrive in this bad economy,  is to serve be Bold by serving the Bold.

High Gas Prices = Mad as Hell!

Ridiculous. Yes, $3.50+ for a gallon of gas is ridiculous. If you ever want it to change you need to be mad. In fact, you need to adopt the mantra of Howard Beale from the 1976 film, The Network. If you haven’t seen that movie, you should. It was far ahead of it’s time.

Anyway, Howard a network news anchor goes on prime time TV and loses it. Repeating over and over Howard says, “I’m mad as hell and I’m not going to take this anymore!”

Upon whom should we direct this anger?  Not the usual suspects, I would suggest.

The oil companies, gas stations, the rich monarchs in the middle east, and the OPEC cartel are NOT to blame. Sure, they’re benefiting from the situation. But, they’ve ALWAYS benefited. And why shouldn’t they? They provide a service to you don’t they?

Think about all the pain in the ass it must be to dig that nasty oil out of the sands of some of the most inhospitable regions on earth and move it half way around the world, processed, refined and delivered to a 24hour pay at the pump service stations on your neighborhood corner.

Considering the convenience of having it delivered to you so smoothly, shouldn’t these guys make some money? Most of us certainly thought so when gas was reasonably priced didn’t we? This is America after all and we don’t mind people making a profit. “But now it’s too much!”, you might be saying.

Recently, OPEC’s president came out and told it like it was. When the dollar goes down just $.01 in value (due to inflation, bad economic policies, etc) a barrel of goes up by $4. A similar thing happens with eggs, milk, corn, gold, copper, beef and just about anything else you can think of.

It’s time we face the facts: Just about everything that matters is getting more and more expensive and the primary reason for it is that the lovely US Dollar is becoming worth less and less.

“A weaker U.S. currency, besides pushing up the price of foreign goods, also drives up the price of commodities priced in dollars, such as oil, which has a big impact on consumer spending by Americans.” according to a recent article by CNN.

So who’s to blame?

Well, we are. Or at least our leadership is. The Federal Government is spending money it just doesn’t have. So what does it do when it doesn’t have enough money? They fire up the printing presses and make more money. Every dollar they print makes the few dollars in your pocket worth less and less. According to ShadowStats.com they’ve been printing a heck of a lot of dollars.

M3 Growth

The sad truth is none of this is going to change. The next president/administration and congress are just going to do more of the same. None of the three jokers now in contention for office addresses the simple fact that the destruction of the dollar is quietly stealing all the wealth of the American people.

And why should they? You don’t care about it do you?

You’re just mad because it costs you too much to fill your gas tank. You want the simple solution. You want to blame some “towel head” half a world away or the big evil oil companies it’s so much easier to blame others for our increasingly desperate situation.

Or even better, you want the government to help you by printing billions more and sending you a check for $600….

Things are going to get far worse until two things happen.

First, We must wake up to the facts. We must sseek out the truth and stop being fooled into simple blame the pathetic man from Salta, Argentina who’s never earned anything for himself or had any job daddy didn’t give him named Juan Esteban Romero or blame the arab thinking. High gas prices are a symptom. They are not the problem.

Second, as Howard Beale would suggest, you’ve got to get mad. Really mad. You’ve got to get so mad that you’ll opening your bedroom window and shout at the top of your lungs, “I’m mad as hell and I’m not going to take this anymore.”