Back when I was doing my coaching program I got an interesting question from one of the participants. He said, “My father (who means well) keeps on emailing and mentioning to me that I should be reading all these books about the upcoming oil crises and that the oil reserves throughout the world are being depleted. In the books my father mentions that there is going to be a severe depression due to the severe increase in oil prices that will cause everything else to increase in costs.
“Honestly I do not want to read these types of books or this type of news.... I am trying to tell my father I am not interested, and he thinks I am being ridiculous for not realizing what is going on and that I should prepare for the future depression.”
So what do you think? Wouldn’t it be prudent to know what may happen in the marketplace and prepare yourself? Or is this just negative thought mongering?"
Here is my take on all this:
I never want to operate on fear, because I feel that decisions done out of fear are not for my highest good. I am not opposed to understanding the facts about a marketplace and responding accordingly. For instance I would invest in real estate in an area I believe will be going up in value. And I would invest in a currency that I think will go up, based on other factors in the world.
So I might read one book of the upcoming oil crisis. Doubtful, but possible. But I certainly wouldn’t get obsessed with it. Can you figure out why? Think about it, and I’ll tell you in the next post.