Happy Easter morning to everyone. I woke up early this morning and watched the sunrise. It was beautiful. I live in the desert in New Mexico. Where I live I am surrounded by wilderness and majestic mountains. I was sitting by myself, surrounded by nature, thinking about everything that has been going on in the world. I want to share a thought with you today: You do not have to be afraid of an economic collapse. Watch Now!
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VIDEO SUMMARY
I do not have to tell you that the world has been in chaos lately. When I go to the grocery store and look around at other people, what I see is fear. People are scared. And a lot of that fear is about money. What happens if the economy collapses? What happens if I lose my job? What happens if I run out of money?
I wanted to make this video today to tell you not to be afraid. Let me explain why.
There is a central concept that underlies everything in finance. Money flows to areas of high productivity. What this means is that if you are creating value, people will give you money.
Adam Smith in 1759 wrote about a concept called the “invisible hand” of economics. This is the idea that markets will distribute wealth so that supply meets demand. Markets will do this on their own by this “invisible hand” without any leaders or government intervening. This idea is the basis of all economics. This brings me back to my central idea: Money flows to areas of high productivity. If you are creating value, the market is going to send money to you.
I am sure you are saying, “Sure Zach, you are talking about theory, and history. What does that have to do with me? I still have to pay my bills.”
I am going to tell you how this impacts your life. When you look back at business history, what you realize is that it is a story about empowerment. Everything in accounting and finance is about empowerment. If you want more money, create more value. It is a simple equation, and you are in 100% control of the outcome.
Let us look at our current situation. I realize the economy in the world today does not look great. I am going to ask you right here, right now to face your fears. It is going to take a little bit of courage, but we will do it together.
Imagine the worst case scenario. What is the worst thing that could happen to the economy. Another Great Depression? Let us be more specific than that. Imagine the US stock market goes to zero. Businesses go bankrupt. The United States declares martial law and locks everything down to keep the public from rioting. Currency markets collapse around the world. There is no more money. Supply chains stop, and there is a massive famine. People have a hard time getting food. The fight over limited resources drives countries to war, and we start World War 3. Nuclear weapons are dropped on major cities and half the population of the planet dies.
That is the worst scenario I can envision. Half the planet is dead. Now what is the likelihood of this scenario? Almost nothing. It would probably never happen. But even if it did. If you were one of the survivors, what you would find is the forces of economics still work. Adam Smith’s invisible hand of economics still applies. The world is still going to need accountants, business leaders, and workers to get stuff done. And as long as you are creating value, someone will pay you money to do it.
What I am trying to show you here, is there is no point in being afraid. You are choosing to be afraid, or stressed out, or scared. Instead of that, you could be focusing on the actions you can take to create value in someone’s life. If you can create value, you will always have wealth.
That is the lesson of business. You are in 100% control of your destiny. We can sit here and complain about the economy, but the economy is always going to change. It is going to be up and down. But no matter what the environment is, you are in control of how you are creating value in that situation.
I acknowledge that we live in tough times. I send you my best wishes on this Easter Sunday. Please remember to stay healthy, stay positive, and remember that you are powerful, probably more than you realize. You do not have to be afraid of the economy. Because here is the main takeaway: Money does not control you, you control money.
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Neither Zach De Gregorio or Wolves and Finance shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.