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Recession Driven Riches
The Untold Secrets to Creating and Preserving Wealth in the New Economy
Heru Nekhet
Copyright © 2011 2011 Insiders Group, Inc. and Heru-Ur Nekhet
The information presented herein represents the view of the author as of the date of publication. This book is presented for informational purposes only. Due to the rate at which conditions change, the author reserves the right to alter and update his opinions based on new conditions. While every attempt has been made to verify the information in this book, the author does not assume any responsibility for errors, inaccuracies, or omissions.
The purpose of this book is to educate. The author and Insiders Group, Inc. shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly by the information contained in this book.
If you do not wish to be bound by the above, you may return this book for a full refund.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior consent of the publisher.
The Publisher makes no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. Neither the publisher nor author shall be liable for any loss of profit or any commercial damages.
2011-08-23
Dedication
To my father for showing me what true courage and strength is in the face of adversity.
Acknowledgements
There are many people that I am grateful to that have both directly and indirectly made this book possible. However, I must start by thanking my parents for always encouraging me to have the boldest of visions and never settle for mediocrity from life.
Genuine thanks and much appreciation go to the heart and soul of Insiders Group, Curtis John, for his tireless efforts and support over the past several years.
Particular thanks and appreciation go to my business partner and friend Augustine Diji for his inspiration, encouragement and helpful suggestions.
Special thanks go to Wayne Gilman, the Insiders Apprentice/Mastermind Group, and friends that gave me valuable feedback and suggestions on how to make the book relevant and useful to the people that need it most.
And most of all to my family, my wife Nefer, and my children Heru-Akhety, Saut and Seba, who have been and continue to be my inspiration for success.
Foreword
Americans are experiencing one of the most stringent economic periods in US history. The banking community offers inadequate interest rates for savings. The stock market resembles a roller coaster ride; and the long held average Joe’s road to riches, real estate, has suffered its worst decline in sixty years. Banks continue to advertise mortgage refinance opportunities yet have raised the qualifications to a point beyond the reach of all but a select few. With the stagnant employment rate, and the current administrations ineffectual efforts to create an improved economic condition for the average American, it appears that only those with specialized knowledge will be able to hold their own in today’s financial arena.
The insanity of these times makes it incumbent upon those that want to rise above the craziness to realign their thinking and actions. It is not enough to follow the advice of “talking heads” on network television and radio. Oftentimes, these pundits are responsible for perpetuating outdated and obsolete information that will cause you to continue in a vicious cycle of decline.
There is a growing movement that is challenging conventional thought in the world of finance. If you are like me and have had the fortuitous experience of meeting and listening to financial strategist and educator, Heru Nekhet, then you know the epicenter of the movement is in New York. Nekhet has produced one of the most comprehensive publications on navigating through the nation’s economic downturn with sound advice for reaching financial independence.
Wayne Gillman
New York 2011
Introduction
“Like nature, our economic system remains, in the long run, stable and rational…We welcome the inevitable seasons of nature, yet we are upset by the seasons of our economy! How foolish of us.” -Jerzy Kosinski
“Even though from a technical perspective the recession is very likely over at this point, it is still going to feel like a very weak economy for some time as many people still find their job security and their employment status is not what they wish it was” (September 2009) -Ben Bernanke
It is no secret that politicians and their aides go to great lengths to manipulate language to suit their needs, and Federal Reserve Chairman Ben Bernanke is no exception. How insulting was it when he announced during a conference at the Brookings Institution in September of 2009 that “from a technical perspective” the recession is over? Since Chairman Bernanke got technical in announcing the end of the recession, it’s only fair that you have the technical definition of what a recession is so you understand how he could make such an absurd statement. A recession, according to the National Bureau of Economic Research, is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real Gross Domestic Product (GDP), real income, employment, industrial production, and wholesale-retail sales. By manipulating a few statistics here and there, “technically” he can say we are no longer in decline (holding on steady to the unemployment rate, foreclosure rate and bankruptcy rate is where we are). However, even without an understanding of the technical definition, no one has to tell you that in reality we are in the midst of a full blown economic storm. No one has to tell you because if you are like most Americans you have been feeling the negative effects of the down economy every single day since the latter part of 2006 (“technically” the recession started in December 2007).
The current economic downturn has already lasted longer than the two previous recessions combined (the last two recessions 1990-91 and 2001 each lasted 8 months) and appears to show no signs of ending in the coming months or years. As a matter of fact, many experts predict that we will continue to feel the negative affects of this recession for the next decade.
As millions of Americans seek relief from the overwhelming stress of record highs in unemployment, foreclosures, credit card defaults, and business closings, very few people are familiar enough with how the economy works to understand how wealth is acquired or lost so they are unable to take control of or improve their financial situation. Without this critical knowledge base, people cannot stop the massive bleeding of their life’s savings and retirement portfolios.
At the same time that the majority of Americans have seen their sources of personal wealth slip away, there are others that have found a way to not only stem the tide of losses, but accumulate newly valued assets, create sources of positive cash flow, and lay the foundation for long term wealth.
The
