Well, well. It looks like Covid-19 has just accelerated the way we will shop and spend our money in the future. I don’t know about you, but me and my family are not getting anywhere near a mall or shopping center this Black Friday.
Everyone online. That is right. Every store from Amazon to Nordstrom is running their mega Black Friday sales online. But is this any good for our economy or for us consumers? I say yes. Well, yes for those who just cannot keep a dollar in their pocket or the temptation to pull out one of their credit cards to get more into debt.
Shopping is an addition
People who don’t save and are just slaves to the economy and corporate America and the world have a huge problem. They are addicted to buying, buying.
Big companies like Walmart and Amazon know this quite well. Why do you think Amazon is pushing everything Alexa. Yes, Alexa is keeping an eye on you and hearing everything you say to get their computers to analyze what your intentions or wants will be in the future.
Image your air conditioning just broker and ask Alexa to help you find out how to fix it. Guess, what you will get the next time you go to Amazon store or app, a bunch of suggestions on tools and everything in between.
Say goodbye to privacy
There is the problem. Well not for me. I don’t buy on impulse or emotion, just like I hope many of my readers don’t. If you do, stop now. That is how the companies and the economy takes your money out of your pocket to distribute it to shareholders like me.
The .0001% of the population who is reading this blog website will benefit and eventually will see how poorly the rest of the population are in terms of saving and falling for the tricks of the economy.
Now, don’t get me wrong. I do spend money. But I always ask myself, will this purchase add value or will it improve something. Will the cost offset the benefit? An economic principle. If it will not help you or give you any return on your investment, then you are a fool for purchasing on emotions.
Just like investing. I never invest on emotion. I invest on research. Just last week, I made $10,000 on a position I did not sell when it when down 30% in two months. Then, last week, it came back and it went up. I sold it Wednesday, before Thanksgiving. Now I am sitting in cash again, waiting for the next opportunity.
Do not become a slave to the big corporations. Save, save and invest. We call that leverage. If you do not have leverage you will always be at the mercy of the owners of the economy. Shareholders. When you have leverage, you can invest and be on the other side of the equation. The winning side.
When I buy, I don’t go cheap. Cheap means it will cost you double or triple in the future. Don’t buy five pants that are cheap when in three months you will not wear them. Buy one that you will wear for one or three years.
Don’t buy a cheap air conditioning and heating unit that will cost you a ton of money every month because it is not efficient. You end up paying more after 10 years. Buy a good quality HVAC unit that will save you $$$ over the economic life of the unit because it is highly efficient. This is what informed and Economy Chiefs in the world do. Don’t go cheap but don’t trash your money either. Do your due diligence when you purchase something.
This Black Friday, become a saver and don’t give your money to corporations. Save, save.
Thanks for reading all and have a Happy Thanksgiving.
To all my readers from other countries, Thanksgiving is a holiday in the USA to give thanks to the native people of America for saving our behinds when we arrived to these lands. Had it not been for these noble people we would be dead after that cold winter and no food. They gave us corn and food.
Until next time and don’t be stingy with my website. Tell friends and family about it. That is the least you can do for me. Sign up for the newsletter.
By the way, in October I did not make my 2% Net Worth growth goal. Didn’t even get 1% growth. 0.91%. Market did not help and the Covid-19 second wave. Plus don’t forget I have a large position in cash. November is not looking any better. 0.60% Net Worth growth for November. As long as I am not below 0% growth I am good.
What to read a brief bio of the Economy Chief? Sure. Click Here – Economy Chief bio.