Throughout our history – any country’s history – the people who save their money and invest for their future are the ones that you build an economy, a society, and a nation on.Jim Rogers on Punishing the Prudent in favor of Rescuing the Irresponsible.
In America, many people saved their money, put it aside, and didn’t buy four or five houses with no job and no money down. They did what most people would consider the right thing, and what historically has been the right thing. But now, unfortunately, those people are being wiped out, because they are getting 0% return, or virtually no return, on their savings and their investments. We’re wiping them out at the expense of people who went deeply into debt, people who did what most people would consider the wrong thing at the expense of people who did the right thing. This, long-term, has terrible consequences for any nation, any society, any economy.
Power and Authority
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The Bible makes a helpful distinction between “authority” and “power”. Some
disagreements would disappear, if the terms were defined more clearly and
“po...
1 day ago
1 comment:
I am one of the people adversely affected. After 9/11, with the economy sickening, the US government told everyone it was their patriotic duty to go out and buy houses and cars. A disaster was turned into a spree. Interest-bearing instruments have never recovered, and the economy is increasingly built on an unreal culture of (seemingly) consequence-free spending, while the downturn of the last five years is blamed on the people least responsible for it--people with savings.
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