YouBeTheBank.com

The financial principles that have made America the envy of the world are clear and simple.

• In the Declaration of Independence:

  • "We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, Governments are instituted among Men deriving their just powers from the consent of the governed."

• In the Constitution"

  • "We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity, do ordain and establish this Constitution for the United States of America."

Liberty and the blessings of liberty are both the cause and the effect of America's financial success.  Liberty derives from the ability of individual Americans to engage in "the pursuit of happiness" and is sustained by their success in doing so.

The Housing Crisis Continues...

The mortgage and housing crises resulted from overleveraging housing assets by both individual Americans and the financial industry.  The Dolts in DC - following their practice of blaming individual Americans because we are "stupid" and businesses because they are "greedy" - refuse to recognize that it is their policies and legislation that form the root cause of these failures.

We the People are not stupid and businesses are only greedy if the Dolts in DC allow it.

Today, both your ability to earn an income from your work or your small business and to keep some of it for yourself and your family are at greater risk than at any time in the history of America.  The "giant sucking sound" you hear is the Dolts in DC spending money we don't have on stupid (it applies to them) programs we don't need.

Step out of the fog of conventional wisdom and recognize that unless you gain control of every penny possible you will soon be the indentured servant of lenders and the government.

• Get out of debt.

• Dump your 401(k) or equivalent, IRAs, and any investment program that guarantees only that it guarantees nothing.

• Put your money into savings programs that guarantee the return of your money and don't be overly concerned about the return on your money (Will Rogers advised this in the ‘20s - boy was he right then - and now!)

Tuesday, February 23, 2010

From the National Ethics Bureau...

Rogue Advisors on Parade.

Recent crimes and consequences in the

• Ponzi schemers blow $7 million on lavish living.
• Ohio broker scams two sisters who trusted him.
• Texas oil and gas fraudster drilled deep into client assets.