Depression Articles

Become a Millionaire During the Next Depression

It's a little known fact that more millionaires were made during The Great Depression than in any other time in U.S. history. Want to know how that happened so you can cash in on the economic crisis looming on the horizon?

It takes a lot of digging to find the real facts, not just the historical data dished out by the media about how hard the depression was on the masses and how hard the President worked to turn the economy around. It takes wading through stacks of documents including the copyright and patent office files in addition to the Library of Congress to find a lot of the data. But, there is a ton of data on the internet if you dig deep enough.

There is one pure gold nugget contained in this history lesson that can enable you to make a lot of money when our country is in a recession (like right now) because a recession is a depression of shorter duration and less economic damage. Have patience while I give you a short history lesson that illustrates this golden nugget.

It is important to know that the Great Depression really began a few years in advance of the 1929 stock market crash and lasted until World War II brought the country out of the Depression.

During the years before 1929, as greater and greater amounts of credit was extended to businesses and individuals the economy was sliding over the edge of the cliff from available cash to way too much credit debt. When the amount of extended credit reached a critical mass, and businesses failed to pay the credit bills, the companies crashed (the 1929 debacle.) When employees lost their jobs they could not pay their credit debts and the banking industries and housing market crashed.

All of the companies that changed hands during the depression by people with liquid cash are too numerous to mention, but due to the war effort, those with liquid cash who purchased homes, land, companies, or invested in the stocks of the companies that made products demanded by our government for the war effort made millions. The industries included such products as:

1. Iron, steel, aluminum and copper 2. Communications: radios and parts 3. Tanks, boats, aircraft, vehicles and parts for these 4. Ammunition and weapons 5 - Tents, cots, blankets, backpacks, boots, clothing, helmets, belts (and the materials to make these) 6 - Containers 7 - Shipping, truck and railway transportation 8 - Oil and petroleum and the stocks in those oil wells (the Texas oil boom was a biggie!)

Some of the better known companies that changed hands during that time were: Ericsson,Reynolds Metals, John Deere, Douglas Aircraft and even the Goudy Gum Company ( gum company to give away baseball cards with gum.)

The U.S. government passed a few oppressive laws during the 1930s to take money from the large number of people who had liquid cash and were using it to buy property, companies and stocks in companies. Our government wanted to take it away from the people who had been wise enough to avoid credit debt and stash away liquid cash, and use it to fund the war effort as well as re-distribute it to the destitute families.

Later, these laws were ruled to be unconstitutional, but the important point is that the people with liquid cash were spending it in ways that reaped millions, particularly those industries necessary to the war effort. Yes, the stock market crashed, however the stocks could still be purchased at undervalued prices and people with cash got in at the very bottom of the market.

The lesson to be learned from this era is a simple one. It is one I teach business owners who are learning how to manage their money the right way. Just in case you missed it, here is THE GOLDEN NUGGET: When it comes to money, the only thing you have to fear is having no liquid cash to get you through an economic crisis.

Many people have lots of their money tied up in non-liquid investments (for example real estate investment rental properties) who are worth a ton of money on paper, but can't pay their bills. Then there are those who have an excessive amount of their cash tied up in semi-liquid investments and the stock market, and yet have no liquid cash that they could get their hands on within 30 minutes if an emergency presented itself.

The economy is in a scary place today, and has the same indicators that heralded the depression of the 1930's. Too much credit debt, not enough cash savings, bank failures and bail-outs (WAMU was just a preview in April to the tune of a $% billion bail-out) and the mortgage crisis / real estate crash.

My clients are paying off their credit debt and stashing liquid cash with a vengeance. They are sleeping well at night and will survive whatever comes. Are you doing anything to prepare for the economic rollercoaster ride that is already underway?

Sandra Simmons, President of Money Management Solutions has years of experience helping business owners and individuals manage their money to achieve financial freedom. Claim your FREE REPORT "7 Fatal Money Management Mistakes Business Owners Make" (http://mms.pjeq.com/7mistakes)

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