Wednesday, July 27, 2011

Turning Hard Times into Good Times

This morning, while scanning the news, I found this Press Release by Reuters.

The Greater Depression. Can a Gold Standard Put America Back on Track? - Jay Taylor Interviews Gerald Celente and Lewis Lehrman FULL STORY

Gerald Celente is an American trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and events of historical importance.

Lewis Lehrman, along with Ron Paul, were the only members of President Reagan's Gold Commission to advocate a return to a gold-backed dollar.

Lewis Lehrman was presented the National Humanities Medal at the White House in 2005 for his work in American history.

It has taken me many years of reading and listening to Business and Investment news to finally understand the economy and how we as a country have gotten ourselves into such a mess. You don't have to be a genius, just start paying attention and apply some common sense. After all, I'm just a house wife. I don't have a college education, or any alphabet letters after my name.

I do know the simple basics that if all you have is $10, you can't spend $12. Oh sure, if you have a credit card, and you can afford to make the minimum payment each month, I guess you can spend up to the limit on the card. But then your payment only covers the interest, so you either get the limit raised or you must figure out how to pay down the balance which only goes up each month because you can only afford to pay on the interest.

This is where our country is today. Obama want's the Congress to approve raising the debt limit on the credit card, but we are only making interest payments on what's owed right now.

When we as individuals do this, we end up in bankruptcy or, if we use common sense, we STOP SPENDING, split the credit card payment up into weekly payments, and pay a little extra on it. That way, we cut the interest and start paying on the principle. And when the credit card is paid off, start putting that amount of money in a savings plan.

I did listen to Jay Taylor's show from yesterday and thought I would share it with the rest of you.

Hour 1

Hour 2

1 comment:

Angry Citizen said...

The "Gold standard" is a misnomer. What it really means is that our money is measurable, and as such cannot be inflated. THAT is what we need today. Because it was the banksters who inflated their fiat currency, that put us in the financial crisis that we are in now. it is high time congress says NO to new spending. PERIOD.