Earning Money

Whether you live in America, Canada, Japan, India, China, Britain, or any other nation, there is no denying that these are incredibly tough times when it comes to the economy. The dollar is losing value, the stock market is plummeting, consumer purchases are down and when it comes down to it, people are worried more about paying off their debt than they are worried about spending their money on buying a new laptop, a new guitar, or other things (that’s what I want). But, one thing that people are hesitant to talk about is the thought of entering a recession. THAT scares people.

But, the big question is: are we entering one? There are a lot of different beliefs right now going around the word of economists. Some say that we are getting dangerously close to a recession and others say that we are not there yet and that we still have time to recover. Regardless of what exactly is going on, what I can tell you is that the economy is pretty messed up right now. People fear spending. They’d rather save and governments around the world are trying to figure out how to really fix what is going on. But, to do that, they need to address the problems. Here in America, I can see a few problems:

• Oil prices: $100 a barrel is a lot of money and if I have to spend so much of my money on gas, I don’t have enough to spend on other goods. So, naturally, the economy starts to deteriorate.
• Jobs: Jobs are being sent overseas. It benefits the company, but not the nation. Without jobs here, no money to earn. Without money, no money to spend. No spent money, no profit for the company.
• Housing market: There’s no denying that there is a crisis in the housing market right now. People can’t pay their mortgages and they are losing their homes. The housing market is really screwy right now and it’s causing a lot of problems.

So, what can we do to fix this? If you’ve been following the news, you’ll know that George Bush and Congress are agreeing on a plan that will allow for $300 to be sent to each individual who earned at least $3,000 last year. To him, it’s a shot. This bipartisan plan will hopefully give the economy a bit of a boost. And we all know that the economy needs that boost. Jon Waraas talked about how Apple is taking a beating. The economy is desperately shaky and it’s going to continue to get worse if things aren’t fixed.

Can the $300 work? It can help. But, other things do need to be fixed as well. Are we entering a recession? I think we are. I think that we are going to continue going downhill unless something can be done. If we continue on the path that we’re headed, whether you work online or offline, for yourself or for someone else, we’re all going to feel it. We’re all going to feel the pains of less money because advertisers are spending less money. I only hope that the economy can be fixed so that we can have strong years again. So, if you have some extra money hanging around, treat yourself to dinner or something. It all helps boost the economy.

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Two nights ago, I was watching Larry King with Suze Orman on it and Orman got a question from a guy who was asking whether he should sell his gold coins that he has or keep them because they are going to continue going up in value. Suze Orman went on to answer the question for the man with a simple answer: “Gold is a good long term investment. However, GOLD is a good investment, not gold mines.” That is not a direct quote, but that is what she said.

And what she said was a good thing. She said that the purchase of gold was actually a good investment. And that’s true because it’s an item that is always going to be in demand. Gold will always look good. Gold will always be something that people like and that is why I think that she was right in her statement about the gold trade. And I think that if you can start investing in it NOW, in ten or twenty years, gold will be worth a lot more because, naturally, things disappear over time and with a smaller supply, there is a greater demand.

However, what she said was good actually. For a long term investment, investing in the actual mines is dangerous because those mines can run out. Also, a business can always cave and that is not as safe an investment. I’m not saying you shouldn’t invest in the mines. I think that they are a pretty good investment, but I am not a stock market expert; this woman is pretty good with economics, so I tend to listen to what they have to say.

So, what does that mean for you? That means that if you have gold coins or gold pieces of jewelry that you are unsure of what to do with, hold on to it. As time goes on, its value will continue to go up. People will always want to have more gold because like I said before, it is a beautiful metal. Hold on to what gold you have and if you have the money, go ahead and invest in it. It’s one of those things that you can hold onto and I don’t really see you going wrong with. But, ask an expert and see what they have to say before you invest a lot into it. If you do ask, post a comment and let me know!

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