Our hearts must go out to the people of Japan, earthquake, tsunami and fears of radioactivity from damaged nuclear reactors all at the same time.
Their stoicism, lack of panic and resilience is a lesson for all of us.
Back in February, I wrote a post “A World in Turmoil” on my other blog, which looked at the wave of protests and revolutions in North Africa and the Middle East. At the time I wrote that, I never dreamed that a potentially larger upheaval was just around the corner.
The effects on the world’s economies and citizens are likely to be considerable. Obviously people in Japan are immediately affected by the tragic loss of family and friends, destruction of their houses, loss of assets and income and shortages of water, food, power, transport and communications.
The ripple effects of this disaster are going to affect far more than the Japanese economy. Already, within the first week, our local Toyota plant has announced that it must cut back production because of interruption in the supply of some parts from Japan.
There will be an impact on businesses dependent on the nuclear power industry, perhaps positive for those supplying enhanced safety products or services and negative for those hoping to build new plants.
Insurance and travel are two more industries where the effect will be noticed quickly and there are many others for which it will take longer.
Food commodity prices have been rising steadily and have been one of the triggers for the uprisings in North Africa. The simple equation of a rising world population versus declining arable land guarantees that food prices will be under upward pressure.
A financial report I was reading today quoted an old Spanish proverb:
“The difference between civilization and anarchy is 7 meals”
That sounds a harsh judgement but is probably more accurate than we are comfortable believing.
So between revolution in the Middle East, a huge disaster in Japan – the worlds 3 rd largest economy, rising food prices and already shaky economies, it’s time we prepared ourselves to ride out a possibly turbulent future.
What should our strategy be?
Increasing our reserves and protecting what we have.
Most of us need to increase our income to be able to increase our reserves,
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For more information on why you should be concerned about the state of the economy and possible dangers ahead, check out Mike Dillards Elevation Group video.
Wishing you success in all your endeavours.
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