I have a dream! With a surprise ending! I’m out of work! I’m an optimist. Always have been. Present ANY scenario to me and I will ferret out the positives and solutions.
[For perspective, know that I’m a consultant for “Loan Sharks;” the business of lending to the masses. In “polite society” and in the halls of Congress, we entrepreneurs and the executives of publicly traded companies in my industry refer to it as “AFS” or, Alternative Financial Services. I’m in the business of “hard money lending.” Payday loans, car title loans, small-dollar loans, personal loans… to sub-prime consumers. VERY PROFITABLE with the right Team and business model! KNOW that banks, credit unions, credit card companies, rent-to-own, buy-here-pay-here, VC’s, Family Offices, Wall Street, ALL wear the same hat. They simply don ties.]
36M Americans are unemployed; and climbing. Just this week, outside of Houston, 1000’s of folks sat in their cars while in line for a food bank! Even at full employment; Pre-Corona, 40% of America’s workers could not access $400 cash in an emergency. Credit is nonexistent today. Credit card companies are suddenly capping off maximum limits and, in many cases, simply closing accounts. Online & storefront lenders serving the millions of sub-prime consumers are refusing to approve $200, $300+ short-term loans. They are certain they will never be paid back!
How did this happen? Let me count the ways.
Zero financial education in schools. Just the basics! Save first. Then spend. Not rocket science!
Consumers have deluded themselves for years. Instant gratification is the norm.
Buy now, pay later.
EZ credit. If you can fog a mirror, you qualify.
Counting on our government to save our ass. The only ass our elected leaders will save is theirs. [Notice how they are broke when they enter office and leave… SOMEDAY… multimillionaires]
Retirees carry mortgage debt! Stupid.
It’s OK to graduate from college with $300,000 in debt. Debt that CANNOT BE DISCHARGED in a BANKRUPTCY. [Hmmm… who were the lobbyists, politicians, and beneficiaries who passed this?]
$1200 is on the way. Praise the Lord! Thanks to who? The FED? Donald Trump? No! Future taxpayers; our kids!
The majority of small businesses are HISTORY. Dead. Gone. Times millions.
If you’re currently in the 1%, you’ve long ago “gone to cash.” Look at Buffet for example! You’re good to go!
If you’re in the “middle,” you’re screwed! YOU are the taxpayer supporting all this B.S! You should be PISSED OFF!!
As a result of the stimulus program, 25% of the unemployed will make more $$ in the 2nd quarter than if they had kept their job!
Meanwhile, zombie companies will be saved AGAIN by D.C lobbyists. [Why not allow them to die. Allow their executives, investors, and bondholders to eat it! New, smart entrepreneurs will buy their assets, relaunch & fill the void.]
96% of airline companies’ cash flow went into stock buybacks! These executives received huge bonuses and pay as a result! Today, they want the Fed’s – US taxpayers – to bail them out! Again!!]
It’s a new game. Our world view has CHANGED! Gen-X, Boomers AND Millenials have seen it all. WW2, Korea, Vietnam, 2001 internet crash, 911, 2008-2012 recession, 2020 Corona…
The world economy WAS consumer spending driven.
Paranoia is the new mentality. Frugal is the new mantra.
There is no Free Lunch.
We cannot simply “print” money to solve our “elected leaders” stupidity.
In my dream, the masses wake up.
In my dream, we recognize that the “government” is us! Taxpayers.
In my dream, we take charge.
In my dream, we realize we don’t need more “stuff.”
In my dream, we transition away from relying on the corporate tit and government give-aways!
In my dream, we build our skill-sets.
In my dream, we are ALWAYS LEARNING.
In my dream, WE BUILD “OUR BRAND.”
In my dream, we INVEST in OURSELVES!
In my dream, America SHINES!
In my dream, we come out of this mess, Stronger, Better, Faster, Smarter.
In my dream, I have to pivot! I have to reinvent myself. “The business of lending to the masses” evaporates!
In my dream, ExpertBoomer.com changes lives.
Meanwhile, as I ever so slowly awaken from my dream, new debt negotiation platforms powered by artificial intelligence platforms need my counsel. New credit analysis tools require funding. New lenders must be matched with capital and Tribes. New capital sources seek my help in earning superior returns. New loan products, services, delivery systems, request my input. “Jer, do you have any new, interesting opportunities in the business of lending to the masses?”
My response? “Yes, I most certainly do. Let’s explore…” TrihouseConsulting@gmail.com
Jer Ayles: Co-Founder – TheBusinessOfLending.com