American People Currently in Recession of Long Duration
The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country’s gross domestic product (GDP); although the National Bureau of Economic Research (NBER) does not necessarily need to see this occur to call a recession. How does that same term apply to YOU?
More important to me than the economic condition of the country is the economic condition of the people that live in that country. Politicians, economist and the pundits are almost always wrong and often misleading. If prices of those things you have to buy are going up (inflation) and your wages are not keeping up with the increase of those things – you are in a recession. Wages when adjusted for inflation have been flat at best for the last 47 years. The median income in America is around $53K a year now while milk, bread, autos, housing, healthcare, etc all continue to increase.
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You are getting squeezed. Wages are being deflated, cost of living is being inflated. Nobody has money to save or invest because they have nothing left over. Seventy-six percent of Americans are living paycheck to paycheck. You must know the truth of the situation before you can fix it. People are confused why they have no money left over after being super frugal because they don’t have the correct information. Don’t be confused TAKE CONTROL.
Taking control doesn’t mean saving or rushing to pay off all your debt. Taking control means getting in the group that survives recessions. You need to double your income in order to ever have enough money to save, invest and pay off debt.
Take control of your situation. 1) Confront the truth. The economic condition of most of America isn’t a conspiracy it’s a disaster. Household recessions is happening and has been for a long time. 2) Do whatever is necessary to get your income to levels that allow you to get above the fray. History has proved that only the top 10% of earners since the Great Depression earn enough money to save and invest and expand despites contractions.
—The Middle class is shrinking and getting punished—and you must get out.
So how would you get from 52k to 104K? I want to give you 3 tips today to do that: 1. Most important thing is to confront the reality and control your environment. If you don’t take control of your finances you will be controlled, hoodwinked, enslaved and punished. 2) Make a decision to do whatever it takes to get yourself and your family in the top 10% of earners.
Ways to increase your income:
a) Attach yourself to the revenue of the company you work. I am talking sales. You don’t like that idea? Quit thinking about yourself and start thinking about doing whatever it takes to connect with revenue. The further you get away from money the less chance you have of getting more money.
b) Get your family on the same page. Your daddy’s advice about saving the pennies is the way out. You can not get your money right by using your mom and dad’s financial advice. Get everyone on the same page on what must be done – Earn More Money!
c) Look for other income opportunities and like-minded people. A great example is network marketing. Everyone should be involved in a network marketing company simply to be networking with success oriented people trying to improve their financial condition in life. I started a new show recently called Network Marketing Moguls at my GrantCardoneTV which interviews the biggest players in the network marketing world. Network marketing is a turn-key, proven system where for a very low cost you can start taking control of your economic situation.
Your friend in sales, business and finance,