Any Fool Can Make Money

My mother used to say to me, "Jim, any fool
can make money, but it takes a wise man to
spend it." The other thing I remember her
saying was "A pig bought on credit is forever
grunting." I laugh every time that thought passes
by, and it has passed by a lot lately.

Many years ago I was reminded of a method,
or philosophy, of debt free living. I had heard
of it before, but I never really practiced it.

I put this idea to work, and it's the reason I'm
not worried about what's going on with the
economy today.

I have no debts. I don't owe anybody any
money for anything. I have no mortgage,
no car payments, no loans for furniture, or
appliances, or a boat. When I buy something
it is a cash transaction, and that more often
than not gets me something I want cheaper
than the average bear.

My business is exactly the same. No debts,
no loans to repay, no fancy building.

I get paid up front, not when I finish.

If the stock market drops 4000 points tomorrow
it won't bother me a whit. If real estate continues
to drop it won't bother me either. (Although I may
start buying a lot of it.)

It bothers me that we have people getting MBA's
in finance and economics who really don't know
anything about the way money really works. They're
in debt up to their eyeballs, and it just doesn't make
sense, or cents.

Almost none of the members of Congress no
anything about money, except how to spend
what ain't theirs. The have, in the words of a
private attorney I know, "spent their entire lives
sucking at the public teat." Most of them have
no business experience at all. They have no
idea at all what it means to start and run a
business at a profit. (Of course if you don't
profit you won't be in business...a fact most of
them don't grasp because in their line of work
the money just keeps flowing.)

We need to return to term limits. The House:
Elect every four years, and they get three terms.
The Senate: Elect every six years, and they
get two terms. The President: Elect every six
years, and they get one term. No reelection.
Give the President time to get what he wants
done, and then he is finished. No worries about
reelection.

Balance the Budget. Members of Congress
should forfeit their pay if they fail to balance the
budget. Just like CEO's should not get a penny
except modest salary if their company fails to
make money.

An old guy down at the beach told me the
other day that anybody who thinks money grows
on trees is bound to be caught out on a limb
sooner or later.

Those old guys are pretty sharp. They didn't go
for all the new fangled and harebrained money
schemes. They understood what money was all about.

From the big saddle,

Jim Whelan
The Chairman of the Board

P.S. Was that a debate or a sllep aide I saw last night?

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