A return to basic fundamentals
October 26, 2008
This is definitely not the best year or decade for speculating and those that took high risks have seen huge losses. Who is to blame? We have become a basic gullible society driven by emotion and hysteria. I cannot emphasize enough how important it is to return to basic fundamentals. If you have $100.00 in the bank and a $10,000.00 credit limit on a credit card you don’t actually have $10,100.00 so quit acting like you do at home or in business.
We have been living on borrowed money, robbing Peter to pay Paul and now Peter and Paul are both broke and out of desperation we are going to see them stealing from us so keep your eyes open and your wallets locked up. If you make less than your spending you can’t count on your assets to leverage and use “funny” money to continue with out of control spending. We need to spend less than we make and we need to begin saving for hard times because hard times are here and they may be sticking around for awhile.
It is time to return to basic fundamentals. If you have to start from scratch then do so and keep scratching. This period of time has become one of the most challenging for all of us. Reviewing the historical lessons on the great depression and all between then and now shows us falling prey to speculators as fundamentals were lost was our demise.
These are desperate times and there are a lot of desperate people out there and each of them have a scam that will appeal to the emotional side of any one of us. If something is not right walk away and if it’s a deal too good to be true it probably is, so don’t take it. The internet has created an entire new avenue for concern as our lives have become open books accessable to many people in many countries and they are not all good people out there so be cautious as the crooks are even more desperate.
Know what will make you fundamentally strong. Know your foundation and build it slowly and methodically. Keep your emotions out of you business and personal decision making and focus on necessities. By being fundamentally sound you will attract more in your life and the confidence you will exuberate will be appealing and have sustainability.
If you’re going to gamble or speculate only do it with money you can afford to lose.
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