Why the Rich Get Richer

Why the Cheap Will Never Get Rich

Wed, 08 Apr 2009 02:53:13 -0800

The other day a friend of mine approached me excitedly, saying, "I found the house of my dreams. It's in foreclosure and the bank will sell it to me for a great price."

"How good is the price?" I asked.

"Just before the real estate market crashed, the seller was asking $780,000 for the property. Today, I can buy it from the bank for $215,000. What do you think?" she asked.

"How would I know?" I replied. "All you've given me is the price."

"Yes!" she squealed. ...

The High Cost of Being Cheap

Wed, 08 Apr 2009 02:24:03 -0800

The other day a friend of mine approached me excitedly, saying, "I found the house of my dreams. It's in foreclosure and the bank will sell it to me for a great price."

"How good is the price?" I asked.

"Just before the real estate market crashed, the seller was asking $780,000 for the property. Today, I can buy it from the bank for $215,000. What do you think?" she asked.

"How would I know?" I replied. "All you've given me is the price."

"Yes!" she squealed. ...

Predator's Ball: Cashing In Without Getting Fleeced

Thu, 19 Feb 2009 02:07:51 -0800

This will be a politically incorrect article. It may seem unkind, insensitive, and cruel given the fact that so many people are hurting financially. Many have lost their jobs, homes, retirement security, and hope. Yet -- if you can see beyond today and let intelligence, not emotion, rule the day -- now is the time to position yourself for riches.

You see, the biggest predator's ball in history is in its planning stages and invitations are being sent out. ...

Paying a High Price for Bad Advice

Mon, 12 Jan 2009 12:38:52 -0800

At this time of financial crisis, people are seeking good, relevant advice. But this can be hard to find.

The following is typical of a question you would see in a financial publication -- and its less-than helpful answer:

Q: What can someone whose 401(k) is down do to rebuild their retirement savings?
A: For anyone who is at least five years from retirement, there is probably time for their investments to right themselves. ...

How the Financial Crisis Was Built Into the System

Wed, 26 Nov 2008 01:46:50 -0800

How did we get into the current financial mess? Great question.
Turmoil in the Making
In 1910, seven men held a secret meeting on Jekyll Island off the coast of Georgia. It's estimated that those seven men represented one-sixth of the world's wealth. Six were Americans representing J.P. Morgan, John D. Rockefeller, and the U.S. government. One was a European representing the Rothschilds and Warburgs.
In 1913, the U.S. ...

As Capitalism Crumbles, U.S. Taxpayers Pick Up the Pieces

Wed, 24 Sep 2008 14:00:06 -0800

As we all know, the world changed drastically on Sept. 11, 2001, when the twin towers of the World Trade Center fell.
This year, on the eve of Sept. 11, the twin towers of Fannie Mae and Freddie Mac crumbled. Then, on Sept. 15, Lehman Brothers and Merrill Lynch disappeared. Actually, that was a triple-tower collapse if you count AIG.
In a few years, the biggest pair of towers will collapse: Social Security and Medicare. Even today, they're looking shaky. ...

When Pessimism Prevails, It's Time to Get Rich

Wed, 23 Jul 2008 14:00:10 -0800

If you're serious about getting rich, now is the time. We've entered a period of mass-produced pessimism, when bad news is everywhere, and the best time to invest is when optimists become pessimists.
The Weird Turn Pro
Journalist Hunter S. Thompson used to say, "When the going gets weird, the weird turn pro." That's true in investing, too: At the height of every market boom, the weird turn into professional investors. ...

To Get Rich, Seek Out Rich Financial Advice

Wed, 28 May 2008 14:00:59 -0800

I've been on television recently discussing the U.S. financial crisis. These shows often feature a panel of so-called financial experts who rarely agree with each other. The reason their advice is different is simply because each expert speaks to a different segment of the population.
Giving Credit
For example, Suze Orman, Dave Ramsey, and Larry Winget speak to people who are deep in credit card debt. ...

Survival of the Richest

Tue, 15 Apr 2008 14:00:20 -0800

Most of us are aware of the sacrificial slaughter of Bear Sterns. Some people call it a bailout, but I call it a handout -- a government handout to some of the richest people on Earth, paid for by American taxpayers.
It's the survival of the richest, and the poorest be damned. There's something dismal about a society that operates by those values. ...

The Profit of Doom

Tue, 04 Mar 2008 16:00:00 -0800

Prophets of doom have always taken risks in terms of ridicule and humiliation. If you stand on a street corner holding up a sign that reads "The End Is Near," passersby will laugh and heckle. People will say you're like Chicken Little, running around telling people the sky is falling. ...