Have you noticed how the desire for economic forecasts surges right when our ability to accurately forecast plummets?
That’s really the case today. In today’s show, I’m going to tell you what I say when people ask what’s going to happen to our property markets, and my answer may surprise you.
Then, I’m going to have a chat with Dr. Andrew Wilson about who’s going to pay for all the government benefits and handouts.
I’ll also share a mindset moment about how you’re making history right now.
By the end of today’s show, you’ll hopefully have some more clarity about your economic future.
What’s going to happen to property?
The truth is, I don’t know.
But there are some things that are certain.
- In 12 months’ time, it will be April 2021.
- At some point, we will pass a line that I called the Survival Line.
This Survival Line will occur when people’s level of desire to move forward overtakes their fear.
- On the other side of that survival line will be many opportunities to thrive. Not just in property but in business as well.
Property investors, business owners, and entrepreneurs seem to be thinking in one of three different ways:
- Fear focused: Those who are fear focused are panicking. They think the world is coming to an end. They are closing businesses or selling investments. They can’t see a future for themselves or their businesses. They won’t make it to the survival line, which may sooner than they think.
- Hibernation mode: People in hibernation mode bunker down. They buy rice, pasta and toilet paper. They want to stay low to ride it out. They will cross the survival line but will experience lots of ups and downs in the meantime and lose a year or so of their life in the process.
- Positioning themselves for the future: The property investors, business owners, and entrepreneurs who are positioning themselves for the future are those who realize that there is a strategic window between now and the survival line where they can get themselves set up to take advantage of the opportunities that always occur after a severe downturn.
In which of these three groups of investors do you want to be?
Who’s going to pay for the government handouts with Dr. Andrew Wilson
Right now, the government is throwing money at everything and anything in the hopes of keeping the economy afloat.
But at some point, the lockdown will end and the handouts will stop.
Then what happens?
Who’s paying for all the government handouts?
Some of the topics we discuss:
- Where the money is coming from for the various stimulus packages meant to keep businesses afloat and help ordinary Australians keep food on the table
- What “quantitative easing” really means
- Whether the debt created by these stimulus packages will be paid back
- Whether government stimulus packages will lead to inflation down the road
Links and Resources:
Some of our favourite quotes from the show:
“I know that what we’re going through currently is temporary, like every other crisis we’ve been through before.” – Michael Yardney
“By the way, here’s another certainty. On the other side of that survival line, there’s going to be great opportunities.” – Michael Yardney
“At the moment, you may feel stuck at home, but at least you’re safe.” – Michael Yardney
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