Posted by Snoobies on 06/10/11

We continue to listen to these professional highly reputable economist on things like the housing industry, the financials, why the bailout was needed and now why we need to raise the debt ceiling.  Interestingly enough though most of these economists have been wrong time and time and time again.  Isn't is just sad that the United States continue to follow these debunked economists. 

This is where I need your help and maybe you can spread the word to organizations like mises.org or even the cato institute.  Lets create a scorecard on who got it right and who got it wrong.  Granted both people have been wrong in certain arenas but who is wrong more.  It would be interesting to see wouldn't you think.  It would be the battle of the economists.

Forgive my rough draft but I maybe we should have something like this.

Posted 06/10/11 justinb Oklahoma City, OK

That's a fantastic idea!

Posted 06/10/11 justinb Oklahoma City, OK

Also, stick in what type of economics they follow. Keynes or Hayek. Then have a data point that totals up the points of the Keynesian economists versus the Hayek economists, and use those totals to have a battle of Hayek vs Keynes

Posted by Snoobies on 01/12/09

Saving for Greatness
by Luke Setzer

A fellow freethinker who works for World Financial Group shared this document with me.  Their sales representatives regularly give this flyer to prospects.  The flyer names no original author of this fine dissertation, but it certainly resonates with the Objectivist ethics of financial management.
 
Your savings, believe it or not, affect the way you stand, the way you walk, the tone of your voice -- in short, your physical well-being and self-confidence. A man without savings is always running. He must. He must take the first job offered, or nearly so. He sits nervously on life’s chairs because any small emergency throws him into the hands of others.

Without savings, a man must be too grateful. Gratitude is a fine thing in its place. But a constant state of gratitude is a horrible place in which to live. A man with savings can walk tall. He may appraise opportunities in a relaxed way, have time for judicious estimates and not be rushed by economic necessity.

A man with savings can afford to resign from his job if his principles so dictate -- and for this reason he will never need to do so. A man who can afford to quit is much more useful to his company and therefore more readily promoted. He can afford to give his company the benefit of his most candid judgments.

A man with savings can afford the wonderful privilege of being generous in family or neighborhood emergencies. He can take the level stare of any man ... friend, stranger or enemy. That ability shapes his personality and character.

The ability to save has nothing to do with the size of income. Many high-income people spend it all. They are on a treadmill, darting through life like minnows.

The dean of American bankers, J.P. Morgan, once advised a young broker: "Take waste out of your spending; you’ll drive the haste out of your life."

If you do not need money for college, a home or retirement, then save for self-confidence. The state of your savings does have a lot to do with how tall you walk.

http://rebirthofreason.com/Articles/Setzer/Saving_for_Greatness.shtml

Posted 01/12/09 canam San Rafael, CA

Thanks for sharing this! Very concise and spot on. We can educate on the principles of liberty, but we can also help one another (and others) in a return to prudent spending & saving....in other words, a return to frugality.