A Special Edition of Marketing Media & Cupcakes with John & Angel Ondo.
Since the market correction of over 4,000 points on the DJIA many people and businesses are in fear of what is next? We speak with Jason Stump, Otterbein MBA, and host of the Agile Finance Radio podcast.
Some of the highlights we covered with Jason about the stock market and the corona COVID-19 virus outbreak. How does the current stock market roller coaster compare to other crises like the October crash in ’87 or the crash in 2009? Jason says this correction is nothing like the recession of 2007.
Banks and Financial Institutions crashed in 2007, this seems to be a “fear”, not a fact-based crisis, could that mean we will recover quickly? Jason says that this could be a factor for some brick and mortar stores. Restaurants could be struggling depending on their locations with the coronavirus outbreak.
John spoke with several certified financial planners including a long-time friend who has been an advisor in the financial markets for over 35 years.
***PLEASE NOTE JOHN AND ANGEL ARE NOT FINANCIAL ADVISORS OR COUNSELORS, THEY ARE JUST SHARING INFORMATION THAT HAS BEEN GIVEN TO THEM AND WHAT THEY'VE LEARNED IN THEIR PERSONAL AND BUSINESS EXPERIENCE. WE RECOMMEND YOU CHECK WITH YOUR BANKER OR A QUALIFIED FINANCIAL ADVISOR FOR SUGGESTIONS FOR YOUR SITUATION. *****
Observations are that this is NOT lost money, but pinned up money. The consumers will not be spending this discretionary income now but will hold it until later. So that money will come back into the market.
This is a fear-driven correction, it's not because there is something broken in the financial markets, in fact, the markets are very strong.
Things that are good right now:
1, LOW ENERGY PRICES! GAS PRICES ARE LOW! MORE MONEY IN CONSUMERS POCKETS
2. INTEREST RATES ARE ALL TIME LOW. IT MAY BE A GOOD TIME TO REFINANCE OR POSSIBILITY INVEST IN YOUR BUSINESS CAPITAL
WE'VE BEEN TOLD THAT YOU SHOULDN'T GET BUSINESS LOAN NOW UNLESS YOU HAVE A PROVEN PROOF OF CONCEPT TO MAKE SURE IT WORKS. BUT IF YOU HAVE BEEN THINKING YOUR READY TO EXPAND, THIS MAYBE A GOOD TIME.
We encourage you that this is not a crisis, it could be an opportunity. See out good advice and look at all your options. Don't assume that things are bad, it's bad for everyone. We want you to continue to live the dream with your small business! Contact John & Angel to be a guest on your podcast!
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