The U.
S.
Government Is Broke, Says Larry Edelson.
What Should Americans Do? Larry is a wise Wall Street guru deeply concerned about the American economy.
He claims the U.
S.
Government and Americaare broke for these reasons: 1.
The U.
S.
government is $9.
0 trillion in debt.
2.
The U.
S.
government has $55 trillion of debt in unfunded liabilities such as Social Security and Medicare.
3.
U.
S.
Corporate debt is at an all time high.
4.
Consumer debt is at a record high, too, aggravated by the sub-prime loan debacle.
5.
Our currency, the dollar, recently hit a 25 year low against the British pound, a 12 year low against the Thai Baht, and a seven year low against the Philippine Peso.
The almighty dollar is not so almighty anymore! So, again, what should Americans do about this? First, when voting, stop re-electing spendthrift office holders.
Send them packing at the polls.
Elect tax cutters and politicians not addicted to overspending.
Second, you must realize that when the economy rises or falls,you don't have to rise or fall with it.
You should plan to prosper during tough times.
I've made more money when the economy was poor.
This is something I learned from my Uncle Arthur.
During the Great Depression, as a young teen, Arthur went to the junk yard daily, finding something to fix up and sell in an affluent neighborhood.
He brought the money home and gave it to his ailing Dad, supporting the family.
It's no surprise he became a millionaire and was semi-retired at age 45.
When I worked as Marketing Director for a consumer and commercial finance chain,we had a loans-by-mail office, which made small personal loans in 30 states where that was legal for out of state lenders.
In the early 1980's, control of this business was added to my MarketingDirector responsibilities.
At that time, money was scarce and expensive, typically costing over 20% APR to borrow.
Immediately, I raised the loans-by-mail rate from 27.
95% APR to 29.
75% APR, the highest allowed by Louisiana law.
Not one customer grumbled.
People still needed loans.
We started to use loan brokers to get more customers.
That succeeded beyond my wildest expectations.
The loans-by-mail business--and me personally--prospered at a time when most people dithered and whined and complained that there was no money to borrow.
Again, when the economy rises or falls, you don't have to move up or down with it.
You can have hope and a future even in hard times.
Ifyou believe that America is broke and your financial future as an employee is dim indeed, take self-employment very seriously.
Stop puttering with delusional hopes of job security.
Get going! Two years ago, I posted an article here entitled, "Is Labor Day Passe?" The answer in 2005 and even now is yes, yes, yes! Stop expecting employers and the government to keep you afloat and protect and prosper you and your family.
If you believe that premise is true, surely you must still believe in Santa Claus as well.
You can make serious money in tough times by building your business with a solid team of aggressive, savvy people.
Remember, what they sell and earn benefits you, too, financially.
You canhave control--not an employer--over where you live, where and when you work, what you do, how and where your money is invested, how you can earn and keep more.
S.
Government Is Broke, Says Larry Edelson.
What Should Americans Do? Larry is a wise Wall Street guru deeply concerned about the American economy.
He claims the U.
S.
Government and Americaare broke for these reasons: 1.
The U.
S.
government is $9.
0 trillion in debt.
2.
The U.
S.
government has $55 trillion of debt in unfunded liabilities such as Social Security and Medicare.
3.
U.
S.
Corporate debt is at an all time high.
4.
Consumer debt is at a record high, too, aggravated by the sub-prime loan debacle.
5.
Our currency, the dollar, recently hit a 25 year low against the British pound, a 12 year low against the Thai Baht, and a seven year low against the Philippine Peso.
The almighty dollar is not so almighty anymore! So, again, what should Americans do about this? First, when voting, stop re-electing spendthrift office holders.
Send them packing at the polls.
Elect tax cutters and politicians not addicted to overspending.
Second, you must realize that when the economy rises or falls,you don't have to rise or fall with it.
You should plan to prosper during tough times.
I've made more money when the economy was poor.
This is something I learned from my Uncle Arthur.
During the Great Depression, as a young teen, Arthur went to the junk yard daily, finding something to fix up and sell in an affluent neighborhood.
He brought the money home and gave it to his ailing Dad, supporting the family.
It's no surprise he became a millionaire and was semi-retired at age 45.
When I worked as Marketing Director for a consumer and commercial finance chain,we had a loans-by-mail office, which made small personal loans in 30 states where that was legal for out of state lenders.
In the early 1980's, control of this business was added to my MarketingDirector responsibilities.
At that time, money was scarce and expensive, typically costing over 20% APR to borrow.
Immediately, I raised the loans-by-mail rate from 27.
95% APR to 29.
75% APR, the highest allowed by Louisiana law.
Not one customer grumbled.
People still needed loans.
We started to use loan brokers to get more customers.
That succeeded beyond my wildest expectations.
The loans-by-mail business--and me personally--prospered at a time when most people dithered and whined and complained that there was no money to borrow.
Again, when the economy rises or falls, you don't have to move up or down with it.
You can have hope and a future even in hard times.
Ifyou believe that America is broke and your financial future as an employee is dim indeed, take self-employment very seriously.
Stop puttering with delusional hopes of job security.
Get going! Two years ago, I posted an article here entitled, "Is Labor Day Passe?" The answer in 2005 and even now is yes, yes, yes! Stop expecting employers and the government to keep you afloat and protect and prosper you and your family.
If you believe that premise is true, surely you must still believe in Santa Claus as well.
You can make serious money in tough times by building your business with a solid team of aggressive, savvy people.
Remember, what they sell and earn benefits you, too, financially.
You canhave control--not an employer--over where you live, where and when you work, what you do, how and where your money is invested, how you can earn and keep more.
Source...