I always tell my students that there are your "first-to-go" indicators to look for and at when seeing the economy begin to unravel at the seams. But with this never-ending pandemic, it seems that a lot is left to the imagination to figure out.
I'm pretty sure I have a lot of it figured out as far as what we'll be able to expect in the months to come.
To be clear, people with money will continue to thrive. The rich WILL get richer.
But the poor? Well, that's a whole different story!
Here's what's happening when it comes to who I call the "Larry Lunchpails" of the country.
1) Those who are out of work are continuing to get benefits for sitting on their asses doing nothing.
2) Evidently many of them foolishly think this stimulus money bandwagon will last forever.
3) Companies are trying to hire people; hardly anyone is applying for jobs at the moment because they'd rather just do nothing while getting unemployment money in the mail.
Here are the upcoming problems with this group of the bottom 50% of the population:
1) The stimulus money and unemployment checks WILL end. There will be a hard ending date. Once the end happens, the bottom 50% will wake up from their stupor and finally meander out there for a job. But...when companies go from getting ZERO in applications to THOUSANDS overnight, the likelihood that these people will be able to secure a job will be fairly low.
2) The foreclosure and eviction moratorium will also have a hard end date. The very SECOND this ends, banks/lenders and landlords WILL flood into the court system to file their long overdue foreclosure and eviction paperwork. Yes, the courts WILL be burdened but that is BAD NEWS for people getting kicked out of their homes because the courts will just stamp GRANTED on all of these court docs as fast as they come in with their big red rubber stamp.
3) Welcome to the "Covid Crash." This will likely be as bad if not worse than the crash in 2008 and beyond.
Just because everything is "frozen" in mid-air right now doesn't mean it's not all going to come crashing down. It will. It's just a matter of WHEN!
If you're not lazy and foolish, you have only a SHORT WINDOW to make some heavy life-long decisions relating to your future financial stability. Reality is, the middle class is diminishing to nothing and this next crash will likely be the last "heave-ho" to oust it altogether, leaving a top 15% and a lower 85% of the population with NO MORE MIDDLE CLASS.
Yes, there will be a "lower" class which, the way I see it right now, will encompass AT LEAST 85% of the population. (It may be slightly more but I'm being conservative with my figures here.) Part of that figure is the barely-hanging-on remaining bit of middle class which, I am guessing, has to be around 15% of the population. Maybe.
Why am I telling you all this?
Because this next recession will pretty much ELIMINATE the rest of the middle class as we see it. And for those who are part of the middle class right now, you'll be pushed down into the lower-class category without you even realizing or knowing that it's happening. (The upper classes will know that the middle class is now LOWER class...but will the middle class know they're in the lower class? Probably not since many live in an alternative delusional reality of how things are in the economy as is let alone knowing WHERE they are in the mix of things.)
Recently I decided to do a RARE training on becoming a Direct Mail Millionaire WITH some online elements added to it. (So, it's NOT exclusively just direct mail stuff. You kind of have to do "everything" now with marketing to do well in business.) This event will take place in May. CLICK HERE for details.
But I have another important training happening BEFORE that one. This training starts ON MONDAY. CLICK HERE to check it out now!
One of the BIGGEST THINGS I'll be laboring on in this training is how you will target the highest profit demographics with the hottest selling product.
Starting Monday, I'll show you how to set up a fast and easy money funnel website (or two) so you can hit the ground running with your own ready-to-go online business.
Then on March 25th and 26th, I'll be doing a livestreaming event from Key West for the Money Funnel Traffic Bootcamp Seminar Strategies where you'll be able to discover the most cost-effective and profitable traffic strategies to get DROVES of buyers to your websites that we set up together on March 15th and 16th.
If not, CLICK HERE and I'll explain it all to you in a quick video.
Reality is, if you don't get your ass into gear with a new business or other money-making opportunity, you will likely find yourself up a creek without a paddle come late summer / early fall. (This is when I predict that things will really start to fall apart for the lower 85%.)
Don't you think it's better to get everything together and start making money with your new online business LONG BEFORE that time?
I think so!
See you at the top!