Compared to where we were seven-eight years ago, people tend to feel pretty good about their economic situation. This is particularly true for those invested in the stock and real estate markets.
It is unfortunate that relatively good times blind us to the dangers ahead. Bliss does not last forever. Look at history and you’ll see that stocks have cycles and real estate markets have cycles, in which old players get wiped out and new players take over.
Now is the time for us to step back and reevaluate, instead of just continuing to go with the flow – and remaining exposed to potentially devastating losses. The economy is now floating along without much support, and any rocking of the boat may sink it.
Beyond natural economic cycles, there are world events that have enormous impact on the economy. For instance, most amongst us do not know or care about the word “Brexit,” in which Britons will decide whether to remain part of the European Union (EU). The Brexit referendum is on Thursday, June 23rd, and this could portend serious trouble for the global economy.
Let's take a close look at some of the fundamentals of our economy. READ MORE