The Economic Outlook
There is a great deal of uncertainty in the world’s financial system.The USA has trillions of dollars of debt as do many other countries. Unemployment is becoming a problem in many leading countries. The Euro has been in trouble now for some time and ways to resolve the problem are not re-assuring the markets much. Many economists are predicting the collapse of some economies and a deepening worldwide recession.
What will the next year few years possibly be like?
If the USA should fail to get it’s debt under control there is going to be a huge knock on effect around the world. It will be bad enough if countries like Italy and Spain fail but they are minnows when compared to the USA. If the USA fails we can expect a worldwide increase in unemployment and business failure. Inflation would start to rise to levels not seen for many years and would enter double figures or more in most countries. These would be very tough times to live in to say the least. Unemployment for many is already a terrible problem but if there is a larger increase then the opportunities for ever finding work for years would be a bad situation.
High inflation would erode savings and devastate pensions and it could take years for any recovery to improve an individuals financial position if at all.
How can you prepare for the future?
One of the best things that you can do is to have a business either part or full time that will inflation proof your income. You will really need a method that will link to inflation and enable you to maintain your true level of income. If you have savings it will be important to try and index link these in some way and it would be prudent to seek the help of a reputable financial adviser.
The Entrepreneur Club has been established to help members find ways to increase income and find business opportunities that will help them to cope with the future economy. Membership is entirely free and will remain so. Please take a moment to join today and start to find valuable information that will help you to succeed.