My writing has been slow this week, it has been a demanding time in my 9 to 5.
Consequently, it has been a sad week as I have watched reorganization and cutbacks affect a large number of employees. The reality of our current economic situation is that these circumstances can impact any one of us.
And, we are starting to see that no industry or person with be left unaffected.
I observed as many employees left the facility for the last time after being laid off. We took time to offer support and be there for them.
However, it does not change the impact to their lives.
What Would You Do Without Your 9 to 5?
This belief some of us hold that our jobs are secure and large corporations provide protection is a false and weak foundation to build a life upon. When economic times are good, corporations provide protection because they are small economies on their own, and they need you.
Consequently, right now, they may not need you.
I do not think you should panic or feel that there is no opportunity out there. I think we all should take steps to obtain financial security and freedom. Since, we can each to do this for ourselves.
This Is The Time To Plan
Additionally, learn from your current circumstances and create a better future.
I had an employee come to me recently. This person was in a bad place because of financial difficulties at home. He said his wife recently came to him to tell him she had three credit cards that she did not tell him about and that were maxed out.
She asked him if he could get a second job because he was not working as many hours as he used to.
I could see the pain in his face as he asked if there were any ways to get more from his current job.
There Are No Options There Right Now
His conclusion was that he should go to the bank and refinance his home, consolidate the debt into the mortgage and deal with it that way.
This choice will work, it will fit with the desires of our financial system. I felt bad that he learned of this news this way and was stuck in a difficult situation. This choice he is almost obligated to make limits his future options. His decision, although socially acceptable, will limit his financial future and his freedom. What should he do about the choices that created this situation? The habits that will likely continue unless a new future is developed.
I am drained this week, as I dig through passive income streams and work to build financial freedom, I continue to uncover details about our current financial world that are troubling. Habits that are predatory and organizations who are taking democratic choice away from us.
The employee mentioned above is doing exactly what the system wants him to do. He is working a stable job, earns strong income and borrows to make his dreams come true. The banks love this. It now drives our economy.
Debt Drives Our Economy
The sick part is, government bailouts of banks and corporations that are failing, will fall back in his lap through future income tax requirements. And he’s stuck in this 9 to 5 job paying the mortgage that paid off credit card debt feeling very trapped.
GDP growth now means that there was growth in debt. In recent years the economic bubbles created have been in housing on the West Coast, because banks prefer to have a hard asset securing their loan, and this trend continues with the extremely low interest rates. The negative consequence of this ongoing pattern is that a home is and will continue to move further out of reach in affordability for those who live here. I would argue that our housing markets are no longer housing markets. They have become speculative investment markets.
I was searching for some encouragement and began to review the publication from the World Bank entitled “Doing Business 2020”, a document that should provide updates on reform in support of small business and entrepreneurship globally. Unfortunately, what I found there was troubling. And as many journalists are writing the report and the ideas it promotes support deregulation and reductions in employment protection, lower social security contributions but decreased corporate taxation. Deregulation has allowed private banks to print money that they lend you and me in the form of debt without any input form governments or citizens.
Why has there been almost a decade of private banks reporting record profits?
It Was A Strategy At Work
The good news, The World Bank has decided it will suspend the report over “data irregularities”. Just so we are clear though, the reforms aren’t suspended, only the report.
The report has always been controversial. The report is a glimpse into the strategies and decisions driving our financial and employment options globally. Controversial or not, we should know what strategies are at play with the world’s money. With our money.
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson
As I watch employees leaving, people who will need social security; I think about others who visit the bank to increase their debt (our GDP). I wonder if there is anyone else interested in having a democratic say in these significant areas of our lives.
The 9 to 5 Trap Is Real.
The trap is real. The 9 to 5, taxation, borrow for your dreams complete with white picket fence.
Forget being in the top 1%, let’s succeed as the 99%.
And so, there is a better way. Start by signing up for notification of my future posts, then we can find our way through this together.
Additionally, all of our posts in the Financial Freedom Series can be found here.
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