If you have studied history at all this is clearly part of the vicious cycle of America’s capitalist system. When times get harder for some, things get better for others just take notice of the growing number of high end vehicles on the road & lavished real estate on our corners. Meanwhile crude oil the black gold of America, once a cheap commodity is breaking records by hitting nearly $100 per barrel in recent weeks. At the same time the cost is breaking the pockets of Middle Americans who cannot avoid pumping the poison that takes them wherever they need to go to make ends meet. The darker side is those who cannot afford the black gold slip further into despair, as a growing number of beggars, fiends, and poor people appear grim faced on the streets of this country.
The upside is that our generation will see the end of our oil addiction and the fruition of “Going Green”. The October 2007 issue of National Geographic reads “Growing Fuel”, what I believe to be a window into the future catalyst of the combustible engine. The investment portfolio of the future will seem alien to what we know as diversified by today’s standards. New technology will spawn an era of super speed precision communications, target marketing will be transmitted via Bluetooth based on the individual’s habits and RFID (Radio-frequency Identification) will create a paperless society.
Down on “The Street” (Wall Street that is) traders have been scrambling. We see images of them with arms flared upward as real-time news hits the market. Mortgage backed securities, asset backed securities, & derivatives bundled packaged and flipped into the secondary market have rattled the economy along with Wall Street. They hustle and bustle high yield bonds and CD’s resulting in billions of dollars changing hands in a flash. These events dictate our economy today, tomorrow, and for decades to come.
Let us switch to Washington D.C. where politicians, Law makers, and lobbyist all gather in Congressional Halls and board rooms to shoot rhetoric at each other. The end result is a mantle hammering down, passing a Bill, which soon turns to law. So again, ask yourself “What do all these events and jargon mean to me??” The climate of this economy is not welcoming and many young people are being slapped with the harsh realities of earning a buck. Just finding a decent job is difficult for so many especially recent college graduates. As for the young entrepreneurs chasing their dreams is just as rough if not more brutal when the realities of our economy are factored into your odds of survival. Young entrepreneurs do not have the luxury of that bi-weekly/W-2 check; it is just not part of the repertoire. The wage earner may soon find themselves disillusioned sort of like a donkey chasing the carrot on a stick. To put it simply waiting for your check on the first and the fifteenth will not cut it now a days. How can take hold of their socio-economic position while the divide between rich, poor, and middle class widens??
- · More than 65 percent of 14 to 19 year olds are interested in starting a business compared with about half of the general public. (Kauffman center for Entrepreneurial Leadership)
- · “Control of destiny” is the most commonly cited career goal of young entrepreneurs, and 87 percent of entrepreneurs say the reason they left corporate life was to gain more control over their lives. (Inc. Magazine)
- · Millennials (The Internet Generation) have an optimism not seen among kids in decades. (“Newsweek”, May 8, 2000)
A good friend of mine described the experience of this economy as “Living Life on the Chart” everyone’s position is different and reaction to a shift in position is unique to the individual. So I say conquer the chart like it is a mountain and you are the climber. Anything is possible using the tools of innovation, intelligence, and information, smart investing and setting goals.
President of WC Executive Concierge Svcs.