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    WiredBIZ Articles: Trends

    Is the United States Bankrupt?

    By The Unknown Marketer
    Aug 27, 2006, 08:32
    E-Mail Article
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    The first thing that comes to mind when you hear, “Is the United States Bankrupt?”, is that it came from some network marketer standing on a stage trying to convince you to get into his or her deal or you are going to be living on dog food, renting in a trailer park and watching cable TV for the rest of your life!  Well it came a surprise to me that an article titled just this was just posted by the St Louis Federal Reserve Bank and authored by Laurence J. Kotlikoff, professor of economics at Boston University and a research associate at the National Bureau of Economic Research. (The guy is a heavy.)

     

    There is almost a 100% chance this “plain speaking” economist is going to get his hands slapped for being so candid.  Considering that it comes from the “Fed” really got my attention.  The simple fact of the matter what is happens to the United States economy, good and bad, impacts the entire world. In fact, it impacts your world and if you are in a business now you are being influenced every day by the bigger economic picture. 

     

    Here is where I coming from.   In the US (and similarly in Canada and Europe) the baby boomer (ages 41-59) total 77 million, and a good percentage of them are going to lean heavily on the social security and health care Systems of the world.  We are not going away and we are going to demand our money - we earned it, we paid in. (HINT I am a boomer.)

     

    OK, so how does this impact me?  Well here is what I think is shaping up. Within 6 years or so we are going to belly-up to the social security window and start getting our money.  This is just after we start going to the clinic more often as this long abused body starts breaking down.  It hits us:  We don’t have enough money or cash flow to maintain this lifestyle.  Or conversely, we are not making enough money now to get where we want to be. See it shaping up?  

     

    We are coming into a time where we are likely to be hitting a recession in 2007-08 and the few years of “panic” leading up to this boomer kick-off is going to be real boon to “home-based” , “low cost”, “low risk” investment opportunity. Timing!  Until the consumer realizes the housing boom is over (coming article), this will not hit home. I think the back to past economic booms (stock then housing bubbles) have put downward pressure on network marketing growth… heck why work that hard when you can make more money is a year in your home’s appreciation than your day job?  Life is good!  Why work nights and weekends selling something when your wealth is just rocking?  Well, the party is coming to and end and the hissing sounds are your lifestyle leaving you.

     

    Those who are building a network now are going to be the biggest gainers in the coming network marketing boom years.  So be patient; the grass is turning brown on the other side of the fence. 

     

    Remember, I did not make this stuff up; the US Federal Reserve did and you can not argue with the demographic.  It will not be pretty, but you don’t have to be chowing down on dog treats until the next check arrives.


    The Unknown Marketer

    Trends: Latest Headlines

  • Something New is Trying to Emerge
  • Entrepreneurs and WiredBIZ
  • The Impact of the Housing Bubble
  • Is the United States Bankrupt?
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