Entrepreneurs Pursue Business Start-Ups Even in Bad Times

Poor economic times are not dampening the desire for entrepreneurs to start their own business. A study recently showed that there’s little change in the number of U.S. business start-ups in good or bad times. With more people out of work, many are deciding to start their own company, instead of seek employment. They’re following their passion and ideas to create their own wealth and, when they run into obstacles, they’re finding creative ways to finance their business. With traditional funding sources drying up, watch the video to find out how one successful entrepreneur, who launched his company during the recession, received funding and used his own retirement account, Solo 401(k), to help him through difficult times. In just one year his business is booming.

To learn more about the Solo 401(k) and how it can help you, visit Nabers.com or call Nabers Group: (877) 903-2220.

The Fragility of a Consumer Economy

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When an economy is based on healthy, sustainable activity with a balance of production and consumption, the type of depression we are in can’t happen. In our consumption-based economy, on the other hand, nothing can “stimulate” things back on track. This is because the track we were on is unsustainable. There’s no going back on it. American consumers can’t spend & consume more today in an effort to “save” the economy because we already spent and consumed the goods of today.

Despite the “green shoots” talk that all the economists and politicians are spreading on TV and in magazines and newspapers (pay no mind that these are the very people who didn’t see the crash coming–we are expected to now value their opinion about what’s going to happen next), what’s next isn’t good for the general economy. As illustrated by Ian Mathis of at Daily Reckoning, by the end of the year about 1.5 million jobless Americans will exhaust their unemployment benefits.

We know that unemployment is sky high right now (10% official figures and 20% as figured by shadowstats.com), but millions of those jobless Americans are receiving checks from the government that are continuing to pay for their rent, groceries, Venti 7 Pump White Mochas, etc. By year’s end, about 1.5 million Americans will no longer have a source of income. In other words, the further reduced consumption affiliated with unemployment hasn’t even come home to roost yet.

Waiting for the “general economy” to be brought back to life will turn out to be a disappointing plan. Your personal economy is what matters, and thriving is a matter of what you make for yourself. Just as the Soviet Union taught us that central planning doesn’t work, we will relearn that lesson as central planning continues to fail in the United States. Don’t wait around for stock markets to go into a long term rebound (as opposed to the bear market rally or “bounce back” that comes before the next leg down in every stock market crash) or for the government to get your job back for you. If anyone’s going to bring your prosperity, it’s going to be you!

5 Steps To Freedom: How to Cut Your Dependence on Institutions and Escape Financial Slavery

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buy

Finally, it’s here! Amazon won’t have it in stock for another 2 to 4 weeks, but you can use the buy now button above to order the book and I’ll ship it directly to you immediately. (If you’ve already ordered one, it’s going out to you today.)

If you’re reading my blog, I assume you want to take control of your finances and your life. Get the book to find out…

  • Why  a rising stock market steals from us
  • Why savings accounts don’t save
  • Why you’re on track to working harder for longer for less
  • An action plan for escaping financial slavery
  • 5 simple steps to freedom

Here’s the official [Read more...]

Could Obama's Stimulus Really Work?

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Our economy is 70% consumerism. That means it is mostly based on individuals buying stuff. So the current setup of our economy holds two basic facts:

  1. Individuals buying more stuff than they can afford to buy (based on their income) has a net effect that is good for the economy.
  2. When individuals lower their spending and save and invest money, the net effect is bad for the U.S. economy.

That said, should we even care about “the economy” in its current setup? If individuals were really doing what is good for themselves (saving and investing), it would be terrible for the economy.

So could Obama’s stimulus really work? Absolutely not. Not if you consider “it really working” to mean more than just temporarily. We don’t need a stimulus. We don’t need a boosted economy. We need a changed economy. There are only three ways out of [Read more...]

When the economy attacks: Fed fights back with toy gun

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Today the Federal Reserve lowered their key rate to 0%. Huh? How does our economy work when money is lent for no interest? Well, they technically lowered the key rate to a range of 0% to 0.25%. This is the first time the Fed’s key rate has been this low ever. Without getting into a long, complex examination of this let’s take a very simple look at our economic problems:

  • Consumers spent more money than they had by borrowing and going into debt
  • Lenders lent money to consumers who did not have the capacity to repay the loans
  • The government spent more money than it had by borrowing and increasing debt
  • Lenders lent money to the government who does not have the capacity to repay the loans

If we had a free market, [Read more...]