Weathering the Everything Crash
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Good morning all. Bless up, and wishing everyone a great day.
The recent stock decline has caused Americans to lost $9 trillion in wealth. That's a stunning number. It's really hard to imagine 9,000 billion dollars that was once accumulated in accounts and real estate equity just gone. Think of what that money could have done. How many people could have been lifted our if poverty with that money? How many gallons of polluted water could have been made clean? It's stunning to see how malinvestment is hindering true progress. Thriving in life requires investment, and we really dropped the ball on this again.
Greed and speculation are a hell of a drug... When the markets were rising, seeing green on the screen was all we needed, and risk, what was that? Depending upon unrealized gains is something I have done in the past. Stocks and cryptocurrency have been instrumental to my wealth-building efforts and now, it's time to surveil the destruction that has occured. Loss of wealth has real consequences, and it makes businesses less likely to hire and foster employees. It's a game of musical chairs, and we need to navigate it daily it seems.
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What should we do now? Dollar-cost averaging, dip buying and technical analysis seem relevent here. It's amazing that all asset classes from real estate, precious metals, stocks, bonds and cryptocurrency have all declined into bear markets. Is this a real opportunity to build wealth? Will the dip get "dippier"? No one knows, but it's a good idea to grab some quality assets a little at a time.
Personally, I like investing into and selling collectibles. Some of these items seem to be "recession proof", and I am amazed that even in the depths of a downturn that people eagerly buy cards and other collectibles. Selling some items online has helped me weather inflation, but it's a bandaid over a gunshot. We need to actually fix things and build true community to blast through this economic rubble.
Alternative assets used to include cryptocurrency. The markets and cryptocurrency are now positively correlated, so this disintinction is less accurate. Bitcoin has declined with the market, so this is a test case of cryptocurrency as a market hedge. So far that thesis has proved to be false. Cryptocurrency and CEFI have been a disaster to those who didn't understand the risk. What a mess.
As the market tanks, it's important to focus on personal development. The market has a mind of its own, and I cannot control it. To be alive and thriving, I need to focus on what I can change and control and that's my own development. Developing skills and becoming a better employee through courses and certification are key. Basic first aid, carpentry and plumbing interest me, so I'm learning more. I have become a pool service expert, and can help those who need it. That skill has helped me build community and can help pay some bills too. What skills do you plan on learning?
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I keep saying this over and over, but to thrive we need to build a diverse portfolio of skills and build community locally. Thriving is a multifaceted attribute. How many people in your community do you know? What skills do you have to offer and what can you trade locally? Local economics are what truly matter. We understand the scope of the problem of disconnection in our community and how it relates to stability and mental health, so let's take the time to acknowledge and fix this. It takes time, but it's worth it. Stocks and other assets fluctuate and we cannot change that, what we can change is our attitude and our community base. So do it!
Did you pray today? Give it to God, and keep your hustle. #aliveandthriving
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