The financial crisis entered a potentially dangerous new phase yesterday when many credit markets stopped working normally as investors around the world frantically moved their money into the safest investments, such as Treasury bills.When supposedly stable Fortune 500 companies are struggling, what does it mean for the rest of us? It means we need to pick ourselves up by the bootstraps, take a deep breath, and throw out hat in the ring with determination to be a part of the recovery, not the gang's rush to the door!
As a result, the cost of borrowing soared for many companies, while the stocks of Wall Street firms such as Goldman Sachs and Morgan Stanley – which only a couple of weeks ago were considered relatively strong – came under assault by waves of selling.
Investors were so worried that they snapped up three-month Treasury bills with virtually no yield, and they pushed gold to its biggest one-day gain in nine years. Major stock indexes fell more than 4 percent.
The stunning flight to safety, away from other kinds of debt as well as stocks, could cause serious damage to an already weakened economy by making it more expensive for businesses to finance their day-to-day operations.
I've experienced a surge in hits to my Show Me The Money Bus Tour site at the same time the economy is diving. What does that tell you? It tells you that now is the time to get involved!
I'll give you two reasons:
1) With the rush to the door, many are finding that "the door" is a home-based business for supplemental income
2) The Show Me The Money Bus Tour is picking up steam. As I mentioned in my last post here, Ken Rolfsness and his advertizing team (including multi-millionaire advertizing expert Norm Alvis) are amping up the ad campaign and are poised for a wave of new business owners to join the team. Norm Alvis anticipates the numbers could be in the millions! The earlier you get involved, the more of those business owners will be part of your team!
