The Bible Says, Follow The "Smart Money"
Have you been reading the news lately? Everywhere you turn, there is a warning about a coming recession. Why a recession? The cliff notes answer: there's a high level of political, trade (CHINA!), economic, and credit market risks right now.
The funny thing is that the average American is still piling on credit debt buying junk they will need to sell to make ends meet in less than eighteen months. Meanwhile, back at the ranch, the rich, are betting there will be a recession in 2020 and are stockpiling cash. According to some experts, the average money in the bank of the rich has been steadily increasing but has now become the single most tremendous portfolio asset. This simply means, the rich have been saving, and now they are mainly holding more cash than any other assets (stocks, real estate, businesses, etc.).
In investment circles, the rich are called "smart money." Do you know what else we've been doing? Spending less on high-end real estate and cars, luxury retailers, and top-tier art sales. I brought my last luxury car in 2016. According to a UBS survey, money spent in these areas has declined drastically in 2019. The high end of the real estate market is having its worst year since the Great Recession, luxury cars are sitting idle at auto shows, upscale retailers are posting declining sales.
Are you following the "smart money"? What are you doing with your money? Be honest, have you saved more or spent more in the last twelve months? Remember, the financial key to the story of Joseph is that he followed the "smart money." In Genesis 41, Joseph was led by God to instruct Pharoah ("smart money") to save for seven years. Because of this wisdom, not only did Egypt survive a recession, they thrived. Isn't this what the rich have been doing for ages? So join the party. Reset your life and embrace the bible principle of preparation, so that the next downturn will be your upturn!
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