No-one knows for sure what is going to happen in the next few years, but the smart money is betting on a longish recession. Since most of our young people have only ever seen good times, apart from a small dip for the GFC, they are ill-prepared for the forecast recession. They will be looking to us for help and guidance. With that in mind, here are the survey results about what became important during the Great Depression of the 1930s.
'Five qualities were identified as important to the parents of most of the research participants in providing for their families during the 1930s:
'Another belief of the majority of the parents of the research participants was the importance of bearing hardship without complaint or grumbling—at least in front of the children.'
Some of the sayings that reverberated through that era still have meaning today, even though many people have neglected them.
Regards,
P.S. I know that I have been hitting this button several times this year, but it concerns me that our media and politicians are pushing the wrong direction. This push will cause the crash to be more significant and the recession to go longer than it would have if they had allowed the GFC to generate the correction required. For you, there is a real possibility that your income will become severely restricted. It's not likely to be so bad for me because I'm retired, and I have prepared for this retirement. I still think I need to generate a nice consistent income online because I'm concerned that the coming crash might cause more financial damage than I would like. For you, it means that you need to begin preparing to generate a second income stream from somewhere. If you are considering it and haven't taken action yet, why not? Do it while you can, waiting could be hazardous to your income. Take advantage of the vast numbers of people stuck at home who are online and bored. Write a book or two. They'll buy them. Find out how to write a book in 24 hours. |
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Brent Milne 12 Torrens St Happy Valley South Australia |
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