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Don't Be Deceived by Media Hype on the Economy

October 07, 2013 22 Comments

The same week the US Government shuts down, the Wall Street Journal and Federal Reserve report a rise in US household net worth fueled by gains in home and stock values.

The media says the economy is improving so you feel better and then go spend money that you don't really have. Stop this! To understand how to build wealth you must understand principles and terminology. Then, when you hear, read, and watch news, you're not hoodwinked. When the Wall Street Journal reported this week that "U.S. Household net worth jumped $1.3 trillion in the spring fueled by gains in home and stock values," and the Federal Reserve says "net worth rose to $74.8 trillion in the April-June quarter, up 1.8% from the first quarter," you must dig deeper and know these facts. First, a home is never never never part of your net worth calculation. Net worth is not what you buy your groceries with and the Fed's figures aren't adjusted to factor in inflation or population growth. It's hype. Don't believe it. Instead, I urge you to focus not on feeling good but, on building your own economy. Focus on wealth and don't let the media machine sway you. The people who want to get wealthy do two things. They commit to getting wealthy and they take the time to study and understand wealth. Want to start creating some wealth for you and your family? Do this:
  1. Focus on increasing income every chance you get. Cash flow is more important than net worth.
  2. Don't spend money; save to invest.
  3. Create multiple flows of income through investments (real estate, multi-level marketing are two examples).
  4. Use debt to make more money, not to buy "comfort." The wealthy aren't using credit cards for movie tickets.
  5. Make wealth a priority.
2008 seems like a long time ago but those wounds are fresh and a crash like that will happen again. This is why you can't get angry at "the economy." Instead focus on "your economy" and build something that will care for you and your family for many years to come. Be great, nothing else pays.

22 Responses

marc cutler
marc cutler

November 01, 2016

Great post Grant – the key is to out-create the economy. The money has been created you just need to get it to flow to you without force, just intention!

Yanni
Yanni

November 01, 2016

Who is going to bail out the US I wonder…?

Rob
Rob

November 01, 2016

Living the dream!!

Great Post!!

Leo
Leo

November 01, 2016

Amen!

Ebong Eka
Ebong Eka

November 01, 2016

Great post as always! The market and media shouldn’t create an avalanche of crap for people.

Jaxi West
Jaxi West

November 01, 2016

incredible!

Suzanne Willis
Suzanne Willis

November 01, 2016

True words spoken here. Thanks Grant.

Father of MEMOism
Father of MEMOism

November 01, 2016

When services and money are flowing between people, the economy is working. When services and money stops to flow, the economy stops.

Buster Cornwell
Buster Cornwell

November 01, 2016

Its hard to sell inventory when people like you are saying “Don’t spend money”.

Shaun
Shaun

November 01, 2016

You support MLM’s? This is interesting, in a good way. Would you mind sharing your perspective on this industry?

Jermaine Reynolds
Jermaine Reynolds

November 01, 2016

This man is a genius! I like all of his email tips.

LandSurfer
LandSurfer

November 01, 2016

MLM’s are the purest form of fair capitalism that exist. Everyone participating has equal opportunity to create whatever income they desire. The Status Quo has painted MLM in a poor light out of fear of the effects of their employees and even managers realizing the shackles they have been bound by are an illusion and the guy behind the curtain (The Boss) has no real power over your ability to generate a Living Income or provide for your own family or to help others instead instead of competing against them. Do your home work and learn what constitutes a good MLM and go for it. I like the ones that both save me money on thing and services I already use or buy and have easy to explain compensation systems that anyone can understand with low investment to start up and sustain.

Joe
Joe

November 01, 2016

Awesome post Grant. I appreciate your honesty. Hope to see you in Dallas.

Grant Cardone
Grant Cardone

November 01, 2016

I appreciate all of your comments. The key is to focus on building your own economy, building your own wealth instead of depending on some outside force.

Lory
Lory

November 01, 2016

Thanks for the tips.

Grant Cardone
Grant Cardone

November 01, 2016

That’s right LandSurfer, it’s about creating the income YOU desire.

LandSurfer
LandSurfer

November 01, 2016

Don’t know your number Carlos…. You can friend me on FB through my blog at LandSurfer.us

carlos panthera
carlos panthera

November 01, 2016

landsurfer call me..Grant and I have a booming MLM. would you be interested in hearing more about it? I run it for Grant

Marisol Powell
Marisol Powell

November 01, 2016

Wow!! Thank you, Grant! Very eye opening!!!

KL
KL

November 01, 2016

Hey Grant, I was all set to purchase one of your products until I saw the exorbitant shipping cost to Canada. Does it really cost $39 to ship a CD to Canada from Florida?
Kenn

KevinatPFS
KevinatPFS

November 01, 2016

This is fantastic! Thanks and I will pass along this wisdom to my family and clients!

Dannie
Dannie

November 01, 2016

Carlos
I would be interested in some information on your networking business

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