A 3-Minute Survival Course for Economic Mayhem

May 3rd, 2011

Don’t get swept away by something you don’t understand
There’s a lot going on in every corner of the planet right now – countries in North Africa are in turmoil, the oil price keeps see-sawing, terrorist action are afoot everywhere, the gold price keeps rising and food prices are soaring. Call it what you like – tsunami, implosion, melt-down or earthquake, it all amounts to the same thing -devastating changes in the middle of all those basically sound systems we had built and used successfully for many years. Most of what is happening has a direct effect on each one of us, whether it is the price of food, the shortage of water or the yo-yoing stock exchange.

Tomorrow
Who knows what or where it will happen? Where what will happen? Anything. Something is bound to happen somewhere. And with it will come staggering casualties or economic turmoil. We have to be ready at all times.

Turmoil happens
Look what’s happened so far this year and it’s only the beginning of May. A major earthquake, social revolutions in many countries, a hunted terrorist is neutralized, gold is well above $1,500 and the stock exchanges are bouncing around like crazy. How do we deal with all these ups and downs and how do we keep ourselves afloat in these stormy seas?

Damage control
At this time the whole world seems to be heavily involved in damage control; surveying the damage, picking up the pieces and moving on. Some people have bigger losses than others, but everyone has to keep going. The trick is to stay alive and not get swept away by the aftershock. In the US some of the damage is irreversible and many remain unemployed, pension-less and in hopeless situations

Survival tips:
o Read the papers and watch and listen to national and international news and finance coverage at every opportunity. This way you become part of the action. Vigilance is necessary in volatile times.
o When a disaster hits, there’s no time for procrastination. You must act instinctively and instantly. Keep up with the speed of events.
o Stay away from your comfort zone. It is not up to date with the latest events anyway.
o Be honest with yourself. You know the questions and the answers. That’s probably why there’s so much confusion out there today.
o Learn, absorb, assess and act. Knowledge without action is impotence.
o Decide that you see the glass half full and concentrate on filling it. If you are seeing it half empty you are thinking negatively.
o Count your blessings, all is not lost.
o Understand that fear is the exact opposite of faith.
o Who’s in charge here? Resolve to be bigger than your problems.
o Don’t negate your own power. Whatever you’ve been dealt, know you can continue the game with it.

Be positive
Think positive and act positive and you will be positive. Living positively is within the possibility of human behavior. You too can do it.

This entry was posted on Tuesday, May 3rd, 2011 at 9:56 am and is filed under Economy, Finance, Personal / Internet. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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