This market is insane. Bond prices got rocked today. The rates shot up....AGAIN!!!! That's all that has been happening receintly. Bernanke, last week, said that our economy sucks, but we have worries of inflation. So our stock market drops, but the rates go up! When the stock market goes up, rates go up. When it drops, rates follow. Bernanke speaks and the stock market drops. Then he says that we're inflationary. Well which is it?????? You see if our economy sucks, the our rates should be going down? Right?
Well what's a guy supposed to do with a out of whack economist? Well the first thing is that you can't rely on our Federal Reserve Chairman....we can use him as an indicator. AN INDICATOR...That's it!!!!
We need to go deep with our clients. We need to be the dessiminaters of information to our clients. If there is a lot of information floating around the air, wouldn't it be better to hear what this all means coming from your trusted advisor????? What a better way to become or enhance your status as a trusted advisor....don't you think. They're going to get their information from somewhere...might as well be from the person who is building or who has the relationship with your client.
From time to time we all sit as a deer in headlights. This is not the time to do it. If you are a deer in headlights. Have a moment and be that deer in headlights. But get over it. Scrub your database and see those people with high rates. Get with them and let them know that debt consolidation is great when analyzing their household blended debt rate.
Now's a great time to meet with your referral partners and talking about how great of a time it is to buy investment properties. Home prices are down and it's a great time to negotiate great investment prices.
The bottom line is that you need to be proactive with your clients. Remember, if you're not, someone else is.
GO HARD OR GO HOME!!!!! Let's make this market work for us! Don't be paralyzed by the market. Just recognize it and deal with it.
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