Tuesday, November 3, 2015

Take control of your finances

The other day I wrote a post about the fact that Social Security is already bankrupt and could eventually drag down the entire US as a political entity.

The US debt will be $20 trillion when President Obama leaves office in fourteen months (he has doubled it in ten years).That is over 100% of GDP. Studies have been done that show that once a country's debt goes over 100% of GDP that country will have its ability to grow its economy curtailed. Without economic growth there is no way to pay the promises that politicians have put us on the hook for.

We have seen this outcome in Japan and more recently in Europe. We will now see it in the US. Of course the politicians and the people themselves do not want to cut anything and at the recent Democratic debate we had one of the candidates promise over $19 trillion in new spending!

My purpose is not to harp on political candidates. They are irrelevant and so is wasting time on politics except as a form of entertainment. No candidate and most of the electorate do not want cuts. They want to believe they can go to the ballot box and pull a lever and someone else will pay for their free stuff.

The purpose of the this blog is to educate people on how to take control of their finances while creating and growing their wealth. One does this by acting like an adult and seeing the world for how it is and not how one chooses to perceive it be.

The government, society, your neighbor, whoever is not responsible for you. The only one who is responsible for you is you.

If you rely on government to provide for you you will be at the mercy of that same government. It was a just a few months ago that we saw Greek citizens standing in line at ATM's to take out 50 or 60 euros a day even though it was their own money!

Debt, lack of understanding of budgeting and fiance are endemic in our society. In future posts I will offer some solutions on how to take charge of your finances along with suggestions on how to and protect your wealth so that you are not dependent on a sinking system.

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