economic crisis bbc
economic crisis bbc
Does The Media Always Tell The Truth? – Do You Believe Everything You Read?
When you hear a news announcements predicting an imminent drop in the economy or see an article discussing the credit crunch, what is the first thought that you have regarding money? For the ‘average’ person it might be to identify possible methods to reduce their monthly outgoings. This would be understandable, as fear is a powerful emotion for determining how and where we spend our hard-earned income.
House owners decide that it is a bad time to sell their house to buy a new home, Drivers decide that it is not a good time to buy a new vehicle, parents vow not to spend a fortune on Christmas gifts for their children. Basically, demands for numerous products and services are reduced.
As an example, when less individuals are prepared to buy new homes, the cost of the average house drops. What happens to the rental market? The irony is that this is the best time to purchase a home if you have money and do not need to sell your house to buy the property.
Those people with capital to invest are grateful for the current economic ‘crisis’! They can buy rental properties at a much lower cost and there is an increased likelihood that they will find tenants. Hence, they are able to capitalise greatly from the changes in the economy.
Banks have suffered as a result of the economic shifts and many have needed financial backing from the government, but the government will capitalise from these arrangements. They will own shares in the banks and the economy will recover in time. As an example, in November 2008 the government acquired 57.9% of the Royal Bank of Scotland in the UK.
Usually, whilst one group of people is struggling, another group is benefiting. When retail sales fall, direct sales increase, when the property market falls, the rental market improves. When banks struggle, the government benefits. The goal is to be on the best side of the equation!
Now I know what you are probably thinking: “I don’t have capital to invest”. A recent article on the BBC news website (22nd January 2009), detailed a study from two leading US trend predictors. They suggested that by researching the effects of 18 similar financial events gloabally, that it could be as long as 6 years before property prices reach an all time low and 3 years for the stock market to reach its lowest point. These are only the findings of one project, but if you take ownership of your income now, you may be in a position to invest within the next 3 to 6 years. This may be the last chance you have during your working career to capitalise on these economic trends!
About the Author
My name is Dr. Andrew Smith and I am the founder of WINOnline. Our team are dedicated to providing information regarding the current economy and aim to provide solutions for protecting your current income, whilst developing additional income streams. If you have an interest in positioning yourself ahead of future trends to work towards true wealth then we may be able to help! Come and learn more at http://www.winonline.biz/ or visit our blog at http://www.winonline.biz/blog
Is it possible that an unelected person join the cabinet, if so how are they accountable to Parliment?
Peter Mendalson has been apointted to the cabinet in Gorden Browns reshuffle, How can an unelected man be in the Goverment running this Country? and how can he be held to account?
This is not to mention if he so good for the country as Gorden Brown has been quoted on the BBC website “Mr Brown said he wanted the best talent to tackle the economic crisis.” why has it taken him soooo long to work it out?
alan, it is my understanding to be accountable to the House of Lords, you had to be a Lord, or such like. I thought he was just an ex-European Commisionaire.
Isn’t it strange that Brown who boasted that no one could handle the economy like him is now looking for help from a man of proven dishonesty? As for accountability these people are accountable to no one but sadly most people don’t realise this.
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