Financially Stupid People Are Everywhere: Don't Be One Of Them
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A hard-hitting look at achieving financial freedom by avoiding excessive borrowing and spending
If you don't actively resist America's culture of debt, you'll end up precisely where the government, banks, and big business want you to be: indentured servitude. The mistakes people make with their money are basic, and avoidable, and unless you understand what they are, you're probably going to repeat them. What you need is someone who can shed light on the obstacles we face and show you how to avoid getting tripped up by them.
Financially Stupid People Are Everywhere shows how society is rigged to take as much of your wealth as possible, and simple ways you can resist. It investigates, explains, and offers advice for all those who have fallen into debt, taken a second mortgage, been trapped by credit cards, or found themselves unable to get ahead.* Discusses what you can do to stop the destructive cycle of borrowing and spending* Illustrates the four major tenets of getting money right* Highlights how to avoid the many ways that government, banks, and big business try to trap you with debt
To secure your financial future, you must break the dangerous cycle of borrowing and spending, and learn how to guard your wealth against corporate ploys. Financially Stupid People Are Everywhere leads you down the only proven path to financial freedom.
that. Then it hit $5 trillion and I thought the riots would start at any moment. Then it hit $10 trillion and it was all I could do to steady myself. That was just a couple of years ago, but we’re already talking about $20 trillion! The slack-jawed card-swipers stumbling from store to store are just as clueless on the way to their nation being $20 trillion in hock as they were on the way to it being $10 trillion in hock. That takes us back to an earlier discussion. Remember all the crying by
that began in 2007 and is still raging as I write this in 2009. It seems the economy will survive for now, but thanks only to maniacal government spending—funded by taxpayers. The long-term consequences of that spending are probably dire, possibly catastrophic. By most of the media’s reckoning, the problem was that unscrupulous banks foisted bad loans on unsuspecting borrowers. Families were tricked into buying homes they couldn’t afford, with mortgages they couldn’t pay, based on incomes they
provide for the establishment of Federal Reserve Banks, to furnish an elastic currency, to afford a means of rediscounting commercial paper” and other purposes. Welcome to Fedspeak. An elastic currency is money and credit that can be stretched or expanded, like elastic, any time the Fed wants. It can also be shrunk. Rediscounting is lending funds before outstanding loans have come due, as yet another way of using money before it exists. The Act granted a mostly private central bank the power to
following the guidelines written by the very banks that would benefit from the rescue. Right there working with him was Paulson, orchestrating the AIG bailout bonanza behind closed doors to benefit his former firm, Goldman Sachs, as recounted by Black:The Bush administration and now the Obama administration kept secret from us what was being done with AIG. AIG was being used secretly to bail out favored banks like UBS and like Goldman Sachs, Secretary Paulson’s firm [from which] he had come from
Stephen Glover, “The Release of Megrahi for Commercial Reasons Is a Vintage Labour Scandal,” Mail Online, September 2, 2009, www.dailymail.co.uk/debate/article-121164/The-release-Megrahi-commercial-reasons-vintage-Labour-scandal.html . 18 Robert Scheer, “Indefensible Spending,” Los Angeles Times, (June 1, 2008, www.latimes.com/news/opinion/commentary/la-op-scheerl-2008jun01,0,5177531.story. 19 Richard L. Berke, “Lobbying Steps Up on Military Buying as Budget Shrinks,” New York Times, April 9,