He was right about the first mess, and he is predicting a second one that could be worse. Many readers who are currently employed may find themselves having to provide a local service to earn an income, and it is much easier to start a family business when you are secure than when you are in panic mode.
So start now. Rearrange your stock portfolio as you see fit (read the article linked below), and start figuring out what you and your family will do if one or both of you loses your current job.
Who is "he," you may ask? Who is this prognosticator of doom? Robert A. Wiedemer, CEO and president of The Foresight Group (TheForesightGroup.com) in Herndon, Virginia, in the Washington, D.C. area not far from where my mom and sister live in Fairfax.
The March 15, 2010 issue of Bottom Line Personal (subscription info online at BottomLinePersonal.com) leads with a story titled, "Another Financial Meltdown is Headed Our Way; How to Protect Yourself And Profit."
Mr. Wiedemer speculates that in the next three to five years, foreign investors like China may decide to invest less in the U.S., and that others will then, "stampede for the exits." He says the resulting slump (including more job losses, of course) could be worse than the first. This stuff is really putting a dent in my usually-optimistic outlook!
So gird your loins, quit going to the movies, turn off your TV and have a family meeting to brainstorm ideas for your family business. My book, How to Make Money While You Look for a Job includes worksheets to help you get started.
We can be realistic about the world economies, and optimistic about reinvigorating our local economies. Let's get started, one family at a time.