Working the Economic Environment To Your Advantage
What advice do we get from the economic conditions and advisors regarding 2024 and predictions for 2025?
Many economists are saying that the US and England are on a recessionary path. In my view it’ll be worse than recessionary. It’s going to last long enough to be defined as a depression. Don’t blame me. I only observe.
The hopeful glimmer is that the US Dollar is still a safe haven and the world will want to invest any excess money here into the US.
Gold and silver may be wise to own, but I worry that the government will force us all to use Central Bank Digital Currencies and will prevent us from owning or trading gold and silver. If that happens all the “gold stackers” will find themselves the owners of numbers on a bank balance sheet. If the bank reduces the value of the digital dollar, they’ll be ruined.
There are several forces at work to push the middle class into becoming a lower class income group.
Housing prices are rising until the public can’t afford it and then Real Estate prices will fall again. This even will force many people out of work.
Many are now and will be going homeless. They can’t afford to pay for your help and won’t afford to pay for health insurance.
Two things will help you. (1) There are many stories about the years of the 1930’s depression and we know that those businesses and people who persisted and stayed in business made a living and even rebuilt businesses destroyed during World War II.
Keep in your mind that you intend to persistently go to work daily, and make checking for calls from new patients a habit similar to eating. It must happen at least 3 or 4 times daily.
(2) The doctors who do not persist will be doing something else, and perhaps moving to another country or another city. Their patients and the potentially new patients they would have absorbed will be calling someone. When you continue advertising in our NYC Area Shopper Magazine they’re likely to call you.
(3) Probably there will be a lot of social media chatter, or meetings among colleagues to find standardized prices that the patients or some insurer can agree to. It’s likely that government will be involved in what they call reasonable fees.
I’m not a big fan of government, but sometimes having some governance is better than none. I’ve seen too much of “no government” chaos in South East Asia and can’t say it has improved anything. You’ll have to be sure your prices fit a price that others agree to as being the “Reasonable and Customary Fees.”
We might end up with 40% of the population out of work. That leaves 60% still working and in need of a doctor. Perhaps this time if you hand them a brochure or article about how to take better care of themselves. Maybe they’ll take your advice and actually DO it.
It is interesting to see poor people remain healthier sometimes compared to those who can afford to eat all the trash foods. (Hint: Rice Krispies and Cocoa Puffs are NOT food.)
You can get through these years if you handle your own income wisely. Do your best to put 66% of it back to work earning more money doing something. Invest wisely. My favorite fund manager and teacher for years has been Peter Schiff. He understands what will happen and what government should be doing better than anyone I have seen over 50 years of reading these various fund managers. Look into: Euro Pacific Funds
I’m a big believer in investing in something you can hold, as for examples silver, FOOD, medicine, hemostats: (keep medicine in stock and sell it like a pharmacist or sell it to the pharmacy and they will retail it). Own food for your family.
If you’re a trader, look into trading commodities that people must buy. They believe they can’t live without medication and food, and they’re probably right.
You can buy 50-gallon drums of soap, antiseptics, even bleach, and disinfectants. Repackage these to sell for a reasonable price with a 10% profit. Several times I’ve rescued myself from an infection with Povidone Iodine. I’ve even mixed it with water and put it on foot fungus and got out of a big problem with that. If you can rescue a foot fungus patient, the world will think you sit at the right hand of G-d.
Peter Schiff: I don’t work for him. He doesn’t even know I exist, but I feel certain of his trustworthiness and his capabilities. So why am I telling you this? Because you’re a friend to me and I want you to live long, practice long, and prosper.
If you have a lot of money and want it safe, especially if you’ve observed your 59th birthday, see this from Harry Dent. I won’t tell becuase you won’t believe me. Listen to Harry. https://www.youtube.com/watch?v=Ovx7c-mHPRo&list=PLwXD0ZZpZEm1npvgkomIqtKnyYoQq6uCm
Continue in practice. Go a little slower. Take more time with patients if there are fewer scheduled. Speak to groups. Write articles. Perhaps produce videos.
I’ll be happy to publish as many articles as I receive. Working together we can keep your practice going and growing.
Thanks for reading this,
Steve Newdell
