Is another Depression coming?
Or are people just fear-mongering?
Greetings Prosperous Souls,
Just last week, the U.S. stock market went into a tailspin, marking the biggest slump since the 80s. Pundits flooded social media, predicting the next Great Depression. It felt like another round of Chicken Little: the economy is crashing! Run!
While it’s true that the economy will eventually face a downturn, we need to tune out these chaotic voices. Fear never helps. Instead, realize: nobody knows when the next big crash will happen. But a recession, or worse, will hit at some point.
The good news is, we have the power to improve ourselves right now. We can ditch a bad habit and pick up a new skill. Thomas Sowell calls this process of self-improvement building human capital—the education, knowledge, and skills required to create wealth. Scott Adams refers to this desired goal as a talent stack. No matter how you define it, the concept remains the same: make yourself more valuable to employers, investors, and society as a whole. By continuously enhancing your skills and knowledge, you increase your chances at marketability and success.
So, what are some ways you can increase your marketability? AI is a hot topic. You could take an online class on AI writing. Get forklift certified. Start a garden and grow your own food. There are countless ways to improve your chances.
For homework this week, spend some time with the Lord and ask Him how you can increase your human capital. Envision how to make yourself more marketable to employers so that when the crash does happen, you’re in a much stronger position.
Hop on to our live coaching session
We’re meeting live today at 3:30 PM (CA time). Bring in any questions. Download my free handout here. I’ll see you soon!
God bless your Prosperous Soul,
Stephen K. De Silva
About: Stephen K. De Silva is an author, speaker, and financial mentor. From 1995 until 2017, he served as the CFO of Bethel Church, and a member of the senior leadership team. Stephen’s blend of experience, training, and gifting make him a pioneer in the subject of money. You can reach Stephen at hello@prosperoussoul.com