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How Do You Get Rich? Do What Is On Your Desk and Do It Well

September 5, 2010 By Leave a Comment
Do the Work on Your Desk

A fantastic passage from page 97 of The Richest Man in Town: The Twelve Commandments of Wealth.  It talks about how success in life comes down to execution of the work that is sitting your desk, right now.  That means getting it done right, getting it done quickly, and getting it done with pride so that your name becomes synonymous with quality. Put another way, you don't just wake up and suddenly have an empire.  You get up each morning, sit down at your desk, and achieve what you can at … [Read more...]

Filed Under: Making Money, Philosophy, The Best Thing I Heard Tagged With: , , ,

Free Trade Isn’t Always Fair Trade

September 3, 2010 By Leave a Comment
Free Trade and Fair Trade Global Policies

A few days ago, I wrote a five-part essay called How to Solve the Trade Deficit in response to a reader question about trade policy in the United States. The reader, Adam, responded on his blog.  Here is my followup to his commentary. I Would Love to Run Trade Surpluses But It Isn't Going to Happen If the United States were to run trade surpluses, as opposed to going trade neutral, we would be accused of mercantilism (rightly).  This would immediately cause our trade partners around … [Read more...]

Filed Under: Economics, Making Money Tagged With: , , , , , , , , , , , , , , , , , ,

How to Solve the Trade Deficit – Part IV

August 31, 2010 By 2 Comments
I Want My Country Back

This is part of my special on How to Solve the Trade Deficit. You can read Part I, Part II, or Part III if you missed them. The Increased Competition for Jobs Is Domestic, As Well You mention that standards of living have fallen, despite gains in things like iPods with 25,000 songs and the ability to connect instantly through the Internet.  The thing is: In many respects, it isn't true - standards of living haven't fallen - unless you fit one specific demographic, which we'll talk about in a … [Read more...]

Filed Under: Economics Tagged With: , , , , , , , , , , , , ,

How to Solve the Trade Deficit – Part II

August 31, 2010 By Leave a Comment
Supporting our manufacturing base is important to stop the trade deficit

This is the second part of my essay on How to Solve the Trade Deficit. You should start with Part I if you haven't already read it. How to Solve the Trade Deficit - The Medium Answer My personal preference for solving the remaining minority of the trade deficit after solving the imported petroleum and oil problem includes rebuilding the manufacturing base.  Part of this is a national security consideration.  By ensuring we have enough production capability within our borders, we would be … [Read more...]

Filed Under: Economics Tagged With: , , , , , , , , , , ,

How to Solve the Trade Deficit – Part I

August 31, 2010 By Leave a Comment
The Products the Come from a Barrel of Crude Oil and Petroleum Based Resources

I received a question from a reader named Adam, who asked about the threat the United States trade deficit poses to our long-term financial health. It was an excellent, intelligent, well-articulated question that happened to arrive at the precise moment I was in the mood to talk about such an issue. The result is a five-part essay called How to Solve the Trade Deficit that explains what the trade deficit is, why the trade deficit threatens our safety, and why the loss of manufacturing jobs, … [Read more...]

Filed Under: Economics Tagged With: , , , , , , ,

Where Do Millionaires Invest Their Cash to Keep It Safe?

August 26, 2010 By 3 Comments
Where do millionaires invest their cash?

I've been having a conversion about investing and money with the reader "Frat Man" in the comments section of another post.  He asked: I also had one other question I have always wondered. Where do millionaires keep their money? In the sense that FDIC insurance only covers $250,000 at the bank and SIPC only covers $500,000 at the brokerage. I mean, I can't see Bill Gates putting $250,000 at thousands of banks across the country, nor can I imagine Lou Simpson's net worth getting wiped down to … [Read more...]

Filed Under: Banking, Economics Tagged With: , , , , , , , , , , ,

Accomplishment Has Nothing to Do With Age

August 15, 2010 By Leave a Comment

Let no man despise thy youth ... - 1 Timothy 4:12 Age has nothing to do with wisdom or knowledge.  It just means you are older.  Some men are wise.  Some men are fools.  That is the truth of it.  Age is merely a number. Consider: The folks who invented Google and Yahoo were under 35 when they did it, Ditto for Facebook. Jesus Christ preached and was crucified several years before his 35th birthday .... Oh, yeah ... and Mozart was dead by 30 Joan of Arc conquered Europe as a … [Read more...]

Filed Under: Proverbs and Wisdom Tagged With: ,

Still True 3,000 Years Later …

August 15, 2010 By Leave a Comment

There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up. - Proverbs 21:20 … [Read more...]

Filed Under: Proverbs and Wisdom Tagged With:

Super Tycoons Facebook Update: From $100 Million to $14 Billion

August 5, 2010 By Leave a Comment
Super Tycoons on Facebook Update

On May 9th, I gave an update on the Super Tycoons game I've been playing every day on Facebook in which you have to build an empire and compete against other players. I've even convinced my grandma to start playing it as a steel tycoon. When I wrote about the game back in May, my in-game businesses generated $11 million per day and my game net worth stood at below $100 million.  As of a few seconds ago, I've gotten my in-game profits to just under $500 million per day and my game net worth … [Read more...]

Filed Under: Video Games Tagged With: , , , , , , ,

Response to What Is Probably the Most Ignorant Message I’ve Received In 10 Years of Writing Finance Articles

July 26, 2010 By 2 Comments

A reader named Medusa wrote me and, to keep it short, explained that I shouldn't believe people should be rich because the Bible is against rich people, that I was going to die a miserable, lonely old man with no one who loved me because I saved my money instead of spending it, and that after reading a profile I wrote based on Federal Reserve data of the Capitalist Class in the United States, she was starting to consider the possibility that the rich were nothing but oppressors who steal from … [Read more...]

Filed Under: Saving Money Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
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