Beware the Naked Man Who Offers You His Shirt

The chickens are coming home to roost, the rats are jumping ship and the cockroaches are coming out of the woodwork.

Our credit-based consumer economy is imploding under the weight of bad debt and inflated currency. The “experts” who steered us aground are grabbing their bullion and jumping ship. Profiteers who see blood in the water are circling like sharks.

Fear, loathing and panic are replacing calm, clarity and due diligence. Our primal reptile brain is overriding our rational thinking. When the emotional Amygdala senses danger, it signals the limbic system to react, not respond.

Bob Prechter explains it in his book, “The Wave Principle of Human Social Behavior…”

“As a primitive tool of survival, emotional impulses from the limbic system impel a desire among individuals to seek signals from others in matters of knowledge and behavior and therefore to align their feelings and convictions with those of the group. The desire to belong to and be accepted by the group is particularly powerful in intensely emotional social settings, when it can overwhelm the higher brain functions.

“In a realm such as investing, where so few are knowledgeable the tendency toward dependence is pervasive. Trends are steered not by the rational decisions of individual minds but by the peculiar collective sensibilities of the herd. They are driven to follow the herd because they do not have firsthand knowledge adequate to form an independent conviction, which makes them seek wisdom in numbers. The unconscious says: ‘You have too little basis upon which to exercise reason; your only alternative is to assume that the herd knows where it’s going.'”

In times like this, it’s wise to heed Harvey Mackay’s sage advice,

“Beware the naked man who offers you his shirt.”

In the past week, I have gotten dozens of emails about how to profit from the coming recession using a range of notions, lotions and potions:

Become a six-figure coach.
Make a killing in licensing.
Be a highly paid speaker.
Get rich on the Internet.
Make a fortune in real estate foreclosures.
Clean up with stock timing (how’s that one working out?).

And of course, you can always count on our good friends at the Nigerian Ministry just itching to put a few million in your bank account!

They say you don’t need a product, you don’t need customers, you don’t even need intelligence. Heck, you don’t even have to work. Just follow the proven system, then sit back and vacuum up all the canoles you can imagine.

Two common refrains are, “I’m sick and tired of all the doom and gloom” and “Don’t participate in the recession.” If you think positive, turn off the TV, hang out with millionaires and billionaires, you can survive, no thrive in tough times.

But these pikers are amateurs compared to the most naked men and women of all:

The money grubbers on Capitol Hill!

These generous souls offered to give us their shirts, pants, socks and shoes, empty suits who had the chutzpah to swear with straight faces they were getting naked for us. When the smoke turned into fire then into a global inferno, we discovered these Emperors had no clothes.

Beware the naked men who offer you YOUR shirt.

If you had any doubt your elected representatives have nobody’s interest at heart but their own, that bloom is now permanently off the rose.

I am not certain about much, but after 30 years in business there is one thing I can take to the bank:

When the “con-fidence” man says, “I’m from the government and I’m here to help” it’s time to bolt the door, grab my wallet and lock up my jewels.

We have nothing to fear but the government itself.

The great bank heist of 2008 disguised as a $1 trillion “rescue plan” was a cowardly act, a calculated coup, and the largest transfer of wealth in the history of humankind. We are mere pawns in their grand game of World Monopoly.

It’s not enough for them to glom a King’s ransom for themselves.
They want to own every house and hotel, Boardwalk and Park Place.

Don’t ever be fooled again that they are looking out for you.
Nobody is coming to bail you out.

YOU MUST LOOK OUT FOR AND TAKE CARE OF YOURSELF.

Whether you are employed or self-employed, own the business or work there, you must think, act and behave like a “Virtual Entrepreneur.”

Step back and take a big, deep breath.
Be as Zen-like and centered as you can.

Detach your wealth from your health, or you just might lose both.

Don’t conflate who you are with what you own or owe.
Your net worth is not your self worth.

Take stock of your financial, intellectual and personal assets and liabilities.

Curtail discretionary spending on things that provide temporary gratification then lose their value. Reduce high interest debt wherever you can.

Ride your best source of cash flow and save as much as possible.

Create at least one more source of active, passive or residual income to replace any lost income, interest or dividends.

Decide whether you are a jockey (rider) or a horse (ride).

If you’re a horse, find jockeys who can ride you into mutual payoff and profit.

If you’re a jockey, find a horse you can ride.

Implement the “10% Here, 10% There” Formula:

Produce 10% more, and consume 10% less.

Don’t jump into the next hot deal, or buy the next great money making thing without being certain you are committed to working it. You don’t need the clutter of another business opportunity you won’t work or an information product to sit on your shelf and gather dust.

Don’t be stuck inside or outside the box. Throw the box away. Let go of your pre-conceived ideas and limiting beliefs.

Make an inventory of your best, most marketable and valuable skills. Clean the slate as if you are starting all over today with all your accumulated talent, ability, experience and contacts.

Accept that what got you here may not get you there. Your best ticket to the dance may be someone else’s product or service.

Make a “hot list” of 20 people who can be a jockey or horse, open a door of opportunity or possibility, or lead you to someone who can.

Use my “Take a Millionaire to Lunch” formula.
Get crystal clear on these three things:

1 – What you do (can do, will do or want to do)?
2 – Why you do it?
3 – Who you’re looking for?

Then contact the 20 people on your “hot list” and tell them what, why and who. You are one or two degrees of separation away from who you’re looking for. It may be your “weak ties” rather than your strong ties that connect you to who and what you’re looking for.

Play your best game. Surround yourself with the best teammates you can find.

You’re a player.
You can elevate your game.

I’ll meet you on the field.