Wise Money Tools

Episode 115 - Entrepreneurs - Greatest Wealth Creators (Around the World)


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Well! Hi everyone, and welcome to another wise money tools video. I'm so glad you could join me today. How is it out in your world? You know, every morning, I should say I try every morning to do an elliptical workout. And I use a program called I fit it's really cool because do you run with a trainer in all parts of the world. I've been a run on the beach in Hawaii in the Cinque Terre in Italy, Iceland and on top of glaciers in Alaska. I mean, it's really kind of cool. You can just about run anywhere you like. But one thing happened the other day that was kind of interesting. We ran in Montenegro, and Montenegro is a really unique and beautiful place on the Adriatic Sea. One other thing that's really cool these trainers talk to you about that You know where you're at, kind of how it, you know, became in the employment and as really talked about all kinds of things that you can learn historically about these areas. What I learned is that Montenegro's on the Adriatic, and it's surrounded by Bosnia, and countries like that. Croatia, I think borders it as well. But just declared its independence in 2006. I thought that was kind of interesting. But ever running along the coastline, I could see the view and I could see a cruise ship over there. And then the trainer started talking about once they declared their independence. How many countries came in and wanted to be part of their growth? The United States being one of them. And I started thinking about Wow, look at what you know, has happened. Montenegro since 2006, and I started thinking about what happens in a free market. When money comes in to the economy, and people are chasing their dreams, entrepreneurs come in, I think you know, just about that cruise ship. I want to go too far into the cruise ship, but just to build a cruise ship. Give me thousands of employees that must take. Not to mention all the materials and the parts and the furniture, the mattresses, the carpet, the walls, the paint. I mean, just the the millions of details that go into a cruise ship. And all the companies that are part of that, companies that forged metal companies that make furniture companies that produce food. I mean the hundreds and hundreds of companies just to keep a cruise ship going. But then I got to think of what's that cruise ship arrives in Montenegro for instance. What happens at that point? And what kind ofinfrastructure needs to be in place to support all those tourists coming in from the cruise ship? Well, first we got the port itself. I mean, somebody had to build the port, the docks, we've got employees that work there. And that's just to kind of keep the dock in good shape so that cruise ships can come and have a place to tie down. They want you to leave the port, you've got roads and infrastructure and all the things that have to be in place to handle the tourism. And then you've got cars that need to be there in some fashion. They could be rental cars, taxis, even Uber drivers potentially. And then some of the things that tourists like to do, you might have motorcycles, or scooters or golf carts, all those kinds of things. So just transportation alone is a huge thing buses, tour buses, right? So then you go to all right now all these tourists come over here some maybe stain, some may come by cruise ships, some may fly-in. And now we got to have some hotels, motels, places for people to stay Air B&B ease. I mean think about all the the infrastructure and economics that come with just housing people for a night. And then all the food you need restaurants, need grocery stores have a food that has to come from farmers and manufacturers and produce places. I mean, it just gets mind boggling to think about all the different things that are so intricately involved just in tourism. Then you got people who want to live there. So we've got a whole housing market there. Now think about what goes into a house, the lumber, the roof, the plumbing, the fixtures, and all the different manufactures is that how are involved in just building one house. And then like I was saying now we've got roads and we've got landscape and we got trees and we got sprinkler systems and I mean the list goes on and on and on. And this is just you know, thinking on the surface and again just kind of taken care of tourists. And then I started looking around and I saw there were other boat docks and so we've got a whole nother economic, you know, potential for people who buy their own boats, fishermen, and then all that goes into fishing boat. And then fishermen who bring in fish, and then the fishing factories. Oh my gosh, it just starts to explode. And then you got to, I got to think about all the people there who might have just been kind of hampered and never really had opportunities. And now that through their independence, entrepreneurial, entrepreneurial ship opens up. And maybe they want to be the guy who has a his own restaurant or a clothing shop or a jewelry store or whatever might be the attraction there. And the economic center involved with that, you know, guy who maybe wants to go out and get a car and drive Uber or maybe just drive a taxi, maybe he wants to buy a fleet of scooters and rent out scooters every day. The employees that have to run these things. Just got you know, again very very intricate as far as what you can think of that has to go in to economy and we think about a hotel. All the staff that goes there, who owns the hotel, where do they get the money? Who's gonna to build the hotel? Right. Now all the infrastructure for that? I mean, it's just it's crazy how important a capitalist society is where the economy can grow and sustain itself by, you know, entrepreneurs taking a risk building something trying to do a little better for themselves. And they might be able to under an economy that's socialist. That is government run that has a regime that tells you what you can and you can't do I just I mean, I sat there and I was running on this thing for, you know, 25-30 minutes. And and my mind just kept going deeper and deeper into this one little area of the world that declared it's independence. And how the other countries wanted to come in and bring money and how this place is probably now just exploding. And all the people who are benefiting from it. Certainly many of the locals, probably a lot of people moving in. I mean, they got It's pretty exciting. And I think we've got to keep that in mind, especially in this political environment that we're hearing that we're. You know, we're talking about changing this whole system, the system that has basically taken a country from 1776 and built the greatest country that has ever existed in Earth's history. And it's done it through freedom, and through the opportunities of taking advantage of entrepreneurial ship, and taking risk and building businesses. None of this was done because of a government. It was done because a government let things go free. And I shouldn't even say let because it's the people who ran this government. And we're seeing that slowly shift to where the government thinks it now is supposed to control the people. And it's really frustrating to me because I don't want to see this country have to suffer. What other countries have already been suffering? And if we can just learn from them in the past history and realize that freedom is really the most important thing we can keep in this country. And you know, we hear arguments about healthcare and specifically employment, those kinds of things. What we're gonna to do with, you know, the elderly and all that, and I know there's some problems out there, I'm not painting this perfect picture. But healthcare has yet to run in a free environment. It's always had some sort of government control over it, which is why it's so inefficient. If we could just let that thing loose. Take two or three or four or five years who knows how long but it would finally find a balance and become a very effective, efficient and affordable way to manage our healthcare. You just think about everything the government's involved then. And it's that's where our problems are. If we can keep government out, that's where the American spirit and ingenuity, innovation, the imagination, that's where we really excel. And I'm seeing that just in these other countries who are finally experiencing their own independence in their own freedom. So that was all I wanted to say today. I just think it's I hope any of you guys out there who have this entrepreneurial spirit who are, you know, wanting to make your own way. I just want to give you encouragement, that is a very worthwhile endeavor. It isn't easy. Entrepreneurs tend to work harder and longer hours with this hopeful benefit in the end, and many of them get it and hope you do too. But that is what has built America. And I hope we keep doing that. Well. Don't forget to subscribe to our Channel. Love having you here. Please send me any questions at questions at wise money tools.com. Any comments, any ideas on things you'd like to hear about and talk about would be, you know, always welcome. We're glad you're with us. Thanks for joining me. I'll talk to you next week.

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Wise Money ToolsBy Dan Thompson

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