Supposedly we are in a recession. Is this right? Have you gone by a restaurant lately and the parking lot is empty. I haven’t. McDonald’s is experiencing almost 8% growth since the beginning of the year. Granted it’s not an upscale restaurant but people are still eating out. If they really thought about it, eating out is not really necessary if you are having difficulty meeting your bills.
I have been a businessman for over 30 years and I can honestly say that people will buy what they want regardless of whether they can afford it or not!
The media will tell you that we have high unemployment at this time. Perhaps this is true but I don’t really see people making an effort to conserve their cash or hold back on major expenses.
Ever try to go to a Lowe’s or Home Depot on a Saturday or Sunday? You’d think that everyone was building a house based on what people are buying.
Have you seen the figures on what people are spending on going to the movies on weekends? Multi-millions every weekend! Is this a way of escape or fighting depression-buying and spending.
There are groups of people today who have been prudent and have cash on hand to buy stuff at pennies to the dollar. They were not spending needlessly before and they certainly are not doing so now. They are buying assets at distressed prices.
Which group are you in?
Jacques
CreatingWealthThatLasts
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