Prices are going up.
Gas pumps, the grocery store, the meat counter, the car dealership…
Homes and apartments.
You name it and “It” has probably shot up 10-30% in the last few years.
And how are our governments responding to the sharp rise in inflation?
They’re throwing fuel on the fire. And printing money like it’s going out of style. Driving US inflation to a 31-year high.
But — according to them — there’s no cause for alarm.
As long as we keep spending.
And guess what?
That’s exactly what most people are going to do!
With only a few days left until Black Friday, they’ll drop their dough on laptops, tablets, Apple watches...
Or maybe even a $100,000 TV...
For 50% off... at a meager $50k.
Yes, Samsung actually sells a 98-inch QLED 8K television for $100,000…
And there’s a good chance they’ll repeat last year’s sale which marked it down to half price.
Now, I’m no Warren Buffett…
But I just don’t believe any electronics purchase where they can just knock $50k off the selling price, could possibly be a good investment.
And yet I can almost guarantee someone will buy it.
Because when people see a big “sale” they automatically think about saving money.
What they don’t think about is the opportunity cost of spending that money.
When you blow your hard earned cash on novelties simply because they’ll be more expensive later and you don’t want to miss out on a so-called “good deal”...
You’re giving up the opportunity to do something more important with that money.
Why do I bring this up?
Because times ARE crazy right now.
And even though some things are getting back to “normal”...
Global supply chains are still broken.
The US economy looks more and more like a house of cards…
And some of the smartest, wealthiest, most connected people in the world are warning that cyber attacks and other threats may be just over the horizon.
Now listen I know that’s all pretty heavy, and I don’t mean to discourage you.
All I want is to remind you of the importance of opportunity cost…
Because there is definitely a silver lining to all this craziness.
One of the greatest truths that’s recurred again and again throughout history...
Is that in times of great turmoil, there's even greater opportunity.
Apple and eBay both found new ways to achieve massive growth during the Dot Com bubble burst of the early 2000s…
My pal Bedros Keuilian’s Fit Body Bootcamp arose out of the 2008 Great Recession, as a cheaper alternative to traditional services.
So did Uber and Airbnb.
In the most tumultuous times, the biggest profits are often made...
But NOT if you’re blowing all your cash on consumer goods this week.
Even if you buy an $800 TV (and not the $50,000 one)…
That just means you’re spending $800 that you could be investing to better position yourself and your business during these unprecedented times.
$800 invested into your personal growth and education could yield a 10X return in a matter of months — weeks even…
Or $800 invested in crypto could 3-4X in a few months’ time…
$800 is also enough to cover a 1-week emergency food supply for 4 people, in case things really go sideways.
Or… you could just buy that new boob tube to watch the 6th season of Narcos in the sharpest possible definition and color.
In case you couldn’t already tell…
I strongly recommend you fight the urge to drink the Kool-Aid... and DON’T buy into the standard Black Friday BS.
Instead?
I hope you’ll buy into yourself and invest in your own success — rather than the appearance of savings…
Or things that really don’t get you any further ahead.
Success Loves Speed,
Craig |