You can't get away from it - credit crisis, falling financial markets, bankruptcies, job losses......... Addiction to credit and greed got us here. Withdrawal is painful.

The world has fueled the fire for years with easy credit. We ate it up buying consumer goods and enjoying the best quality of life on the globe. Financial executives got monster bonuses. Asset values exploded. We moved from one inflated bubble to another. Now there is no where left to go. No more bubbles. People are hoarding cash; if they have it.

Foreign governments are in a quandary. Do they cut off the drugs (credit) from their biggest customer who can't afford to pay? If they do, it will hurt them too. If they don't, the debt will continue to get bigger. Will we react irrationally when the supply is cut off? Will we use military action to continue to get oil and consumer goods?

How painful is withdrawal? Very. Dow 4000, 3000? More job losses. Global depression. Things will get worse before they get better.

I speak to many people that are frozen. They don't open their 401K statements when they come. They are trying to continue with business as usual. Don't maintain the status quo like AIG and Lehman and watch things go down the drain.

What can you do? Take action. Reduce your reliance on credit. Cut costs. Shore up your balance sheet. Be in a strong position when things hit bottom. There will be a lot of opportunity for people in a position to take advantage of it.

Source One has been helping leading organizations to reduce costs through Strategic Sourcing for over 15 years. Call us. We can help you weather the storm so you are prepared to strike when things bottom out.

What actions are you taking to weather the storm?
Share To:

Steve Belli

Post A Comment:

0 comments so far,add yours