Don’t Be Deceived by Media Hype on the Economy

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.

Showing 22 comments
  • KevinatPFS
    Reply

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

  • Dannie
    Reply

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

  • LandSurfer
    Reply

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

  • carlos panthera
    Reply

    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
    Reply

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

  • KL
    Reply

    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

  • Lory
    Reply

    Thanks for the tips.

  • Grant Cardone
    Reply

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

  • Joe
    Reply

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

  • Grant Cardone
    Reply

    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.

  • Jermaine Reynolds
    Reply

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

  • LandSurfer
    Reply

    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.

  • Shaun
    Reply

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

  • Father of MEMOism
    Reply

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

  • Buster Cornwell
    Reply

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

  • Jaxi West
    Reply

    incredible!

  • Suzanne Willis
    Reply

    True words spoken here. Thanks Grant.

  • Rob
    Reply

    Living the dream!!

    Great Post!!

  • Leo
    Reply

    Amen!

  • Ebong Eka
    Reply

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

  • Yanni
    Reply

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

  • marc cutler
    Reply

    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!

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