(Earl Wilson)
Welcome to the second edition of The Golden Sense! In our first edition the discussion was all about the silent tax of inflation and the immoral Federal Reserve. Still, that is not the only problem in these tough times. There are questions. There is more to the struggle.
Fact: Money rules our lives.
You can say it doesn't. You can argue against it. You can act like you don't care about its existence. You can do all the mental gymnastics that you want. But when the argument is over, money is at the center of our existence. (Kent Nerburn)
Yet money is not the most important thing in the world. The dilemma exists in our relationship with money.
In our world and in our new economy the young adults (us) are pushed and taught to have an unhealthy relationship with money. I'm talking about taking on DEBT. Whether it is government, businesses, banks, or schools - they want your debt. They will tell you of the great benefits of debt. They will tell you that you will establish legitimacy in the world. They will tell you about the necessity of credit cards and all the benefits of debt. They'll dress debt up in a suit and call it credit. (Kent Nerburn)
Sound familiar? Today it is almost impossible for young adults, without family help, to not go into debt. Prices are too high. Promises are too big. If you have a kid, its even harder. Believe me, I understand the hardship that our society has placed on us. However, we should not be bitter towards one another. We must look in the mirror.
Sixty years ago debt was an ugly word. I am convinced it will reach that meaning once again.
Want a credit card? Want to buy a car? You must go to school? Want to be a homeowner? Don't you want a pair of those Christian Louboutin's? Come on girl, lets go shopping.
Damn. I just had what alcoholics call "a moment of clarity."
We have turned into a debt based society. The chart below shows total American consumer debt trending upward as the years go by. The national consumer debt is now in the trillions. A mind blowing figure.
In tough times Debt is your enemy. Get rid of it and stay away from it as best you can.
It takes away your freedom of movement and the creativity of your options. Yes, debt can make you money because it allows you to invest when the opportunity presents itself. Yes, debt can help you in the present and leave your problems for what you hope will be a better time in the future. (Kent Nerburn)
But debt defines your future, and when your future is defined, hope begins to die. You have committed your life to making money to pay for your past and you begin to lose your freedom. Leave debt to businesses and corporations that have lives of their own. Stay away from it in your personal life. There is no sadder sight than the person who's eyes have dulled and are bitter as they push the heavy wheel of debt toward the endless horizon. (Kent Nerburn)
If you find yourself with alot of long term debt, your only real friend is work. Work, any work, builds a sense of belief. Then look at the interest rate on your payments. Attack the debt with the highest interest rate. The higher the interest rate, the quicker you should pay off the debt. Make large and repetitive payments on high interest rate credit cards. It takes time but get rid of them as best you can. Work your way through any other debt. No matter how petty the job you have, the work establishes a framework for growth and gives you a place to stand as you reach for freedom.
I am not advocating everybody strive to pinch pennies and try to become millionaires. The obsession with money can grab the throat of the rich just like it does the poor. (Kent Nerburn)
I advocate a rejection of this debt laden society. Try your best to rise above the red.
Have you ever felt freedom? I mean real freedom? Not the kind the Government advertises. The kind where you can truly live where you want and do what you want? The kind where societal obligations do not tie you down and you have the ability to pick up and just leave?
Financial freedom can give that to you.
That is a feeling and a reality everyone should have.
Aim to be at zero and buy a gold coin for the good.
Sincerely,
T. Norman
Random Comments:
How about some California Olive Oil? There was a time when Californians imported "great wines" from France and abroad. Now, California grows and makes some of the best wine in the world. I believe the same can be true for olive oil. Today Americans import olive oil from Europe and all over the world. Why? Why are we paying to ship it half way around the world? I hear they export the lowest quality and keep the highest quality to themselves. Olive trees thrive in the great California weather. I used to live on a ranch that once grew acres of olive trees. I hear there is a new movement for producing California olive oil. The corrupt and broken California government needs to encourage private production in this agriculture business. I think we could have some of the best olive oil in the world. And more jobs as well! We'll see what happens...
USA just beat South Africa 1-0 in soccer. This was a very young US squad. Juan Agudelo became the youngest U.S. player to score in the modern era, giving the Americans a 1-0 victory over South Africa. Agudelo is only 17 years old! The USA needs more forwards. Anyone out there know a good player that can find the back of the net? Contact coach Bob Bradley if you do.
Another birthday coming and going. Yep, gettin older. But its cool.
If you are a new reader of The Golden Sense, I encourage you to read the first blog called "The Beginning". It is in the archive section located on the right hand side of the page.
References: The above post heavily referenced the book below.
Nerburn, Kent. 1993. Letters to my Son. New World Library. San Rafael, CA.
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