Microlending is a good example of trying to shoehorn sustainability into a high-rate world.
A microfinance borrower is able to engage in the kind of long-term thinking that low interest rates allow, such as buying their own seed oil press, rather than using someone else's for a fee. If the discount rate were high, it would be impossible to justify buying equipment--even if it might pay for itself in a matter of months. (Not to mention that it would be impossible, because the capital wouldn't be available.)
Microfinance, though, is only available through the generosity of the people who fund the lenders. In a world with low interest rates, we wouldn't need to depend on generous rich people making capital available. Ordinary capital would be available at low rates.
Low interest loans are the premise behind microfinance, which really could save the world if it spreads enough. Hence the 2006 Nobel Peace Prize winners.
I'm with Guest no. 1. There may be some things I regret I did (like having a power struggle with my daughter) but I cannot think of anything that I would regret I did not. What would be the point?
Its one of the best books i have read. If you look also at warren buffet he says something i can agree.."I dont want to be rich to buy Ferraris"
The most important part of the equation is at the end of the day do you have a positive cash flow or not. People often seek for the business and deal of their lifetimes, however that serves no purpose if you cannot save.
The only money that is really yours is the one you save.
Other great books i recommend:
- Richest man of Babylon (Personal favorite)
- Rich dad poor dad
I just recently tested the computer games by Rich dad Poor dad. Cashflow 101 and 202. Although they are not as entertaining as XBOX, you WILL learn how to calculate your cashflow, and learn the differences between Capital Gains and those that generate Cash Flow. I recommend it. After playing for some weeks I decided to calculate exactly how much money i spend daily, and my current financial situation. This just makes you conscious to make better decisions.
@Danny: I certainly do believe that you need to establish a credit rating if you plan to do things like buy cars & houses and all the other things we generally need loans for. It's so important to establish a good history before you walk into the bank for that loan. And you're also right - kids are being given credit cards but often don't understand how they're supposed to use them, or don't have the discipline to use them correctly, thus doing more damage than good.
As Jtimberman said, you can just control spending by cutting up the cards and closing the accounts, but I wonder if that's a bit short-sighted too. Just because you might have a weakness for whipping out the credit card when you are in ABC store doesn't mean you shouldn't have credit cards at all.
I have a horrible memory, and often forget things I need to do, chores, etc. But that doesn't mean I'm too irresponsible to do the vaccuming.....I just need to work around my forgetfulness by leaving notes around the house, or some other creative tool to help keep me on track.
I view this little tip as just one of those creative tools to keep us on track if we know we're the sort that can wander a bit.
A bank and a credit union have both educated me on money laundering, and if anything it looks a lot easier now than it did before I got in the industry. That being said, I don't have any money to launder so the information is totally useless.
Some good articles related to the wellness of your dog and dog food can be found here www.tipconnection.com/tc_pet_care_and_pet_food.html
I think organic home cooked food is the best way to go to feed my dog, it seem to show, ill post a picture soon ;-)
If i didn't need the money for a while, i'd just create a foundation that accepted anonymous donations buy/build a huge house for the said foundation, and then upon retirement have the foundation give the house to you as being a highly placed member of the foundation.
I remember worrying about the various crises you mention, and others--the New York bankruptcy of the mid-1970s, stagflation of the late 1970s, the high interest rates of the early 1980s, a couple of Mexican devaluations, the Asian debt crisis--the list goes on.
Several times I thought economic collapse was a likely possibility, and yet the economy recovered each time. Eventually, I became rather blase about the risk of a genuine collapse.
If there's a real collapse, then your TIPS or I-Bonds may be worth nothing--but that'll be the least of your worries.
Of course, there's nothing wrong with repenting too.
If anyone remembers the financial crisis that occurred in this country in 1988, now would be a good time to learn its lessons and put that knowledge to use. First of all, what’s happening now is already worse than what happened in 1988. In 1988 so many lending institutions failed that the FDIC and the FSLIC couldn’t handle all of the assets and liabilities of the hundreds of failed banks, savings & loans, and other financial institutions. In response, the federal government created the RTC (Resolution Trust Corporation). When the RTC was finally dissolved by Congress, some 20,000 foreclosed properties had still not been disposed of!
Much has changed since then. The United States economy now ranks a weak third in the world instead of a strong number one (China is first, India is second, and the European Union may soon overtake us for third!). We no longer even produce most of our own basic necessities! Worse still, we are now embroiled in foreign conflicts and “nation building” exercises that are costing us hundreds of billions of dollars every year while multi-national corporations are reaping whatever profits are to be had.
Even our government “of the people, by the people, and for the people” is out-sourcing many basic projects and tasks to businesses in other countries. Most of our country’s ports are run by foreign corporations. And with our entire military mobilized and mostly deployed in some 163 foreign countries, the NATO troops stationed here out-number our own troops!
Consequently, we cannot reasonably expect our economy to rebound as quickly or strongly as it did in 1988. Furthermore, the present financial crisis is by no means finished. Indeed, it may still have a long way to go before it bottoms out. The Feds have already sunk over 140 billion dollars in less than a week to shore up the stock market. It has already reduced its discount rate by half of a percentage point. And it has loosened up requirements for FHA loans to help some homeowners with ARMs to refinance.
Yet financial institutions continue to fail. They continue to lay off employees. They continue to foreclose on the increasing number of homeowners who can not pay the higher payments resulting from their ARM’s new rate. Since the lending institution now has an additional property that it must pay insurance, taxes, and upkeep on, it has not only lost the principal and interest from the loan that was defaulted on, but it now has an additional expense as well! Instead of working with homeowners restructuring their loans so that payments remain the same, or are even reduced, these institutions act as if they have no choice but to foreclose on the property or force the homeowner to pay higher payments (which results in eventual foreclosure anyway). It seems that these institutions would rather fail than to reduce their profit margins.
Go now you who are rich, cry for your despair that shall come upon you. Your riches are tainted and your garments are moth-eaten. Your gold and silver are cankered and the rust of them shall be a witness against you. And it shall eat into your flesh as it were fire. You have heaped up wealth together for the last days. Behold, the just wages of the laborers who have reaped from your fields, which you keep by fraud, cries. And the cries of them who have reaped have entered into the ears of Yahu’ah Sabaoth. You have lived in pleasure on the Earth and have been wanton. You have nourished your hearts as in a day of slaughter. You have condemned and killed the just and they do not resist you. (James 5:1-6)
The results of the 1929 crisis was more government regulation of our economy. The results of the 1988 crisis was even more government regulation of our economy. So what will the results of this crisis be? As the government increases its control of our economy and as we develop a cashless economy, our ability to buy or sell without the government’s knowledge or consent will be gone. In order to buy or sell we shall have to have a personal identifier recognized by the government. So please consider the following:
And that no man might buy or sell, unless that he have the mark, or the name of the beast, or the number of his name. (Revelation 13:17)
And the third angel followed them saying with a loud voice, “If anyone worships the beast or his image and receives his mark in their forehead or in their hand, the same shall drink of the wine of the wrath of Yahu’ah which is poured out without mixture into the cup of His indignation. And they shall be tormented with fire and sulfur in the presence of the holy angels and in the presence of the Lamb (our lamp, Yah Shua HaMashiach). And the smoke of their torment shall ascend upward forever. And they shall have no rest day or night whoever worships the beast or his image and whoever receives the mark of his name.” (Revelation 14:9-11)
Judgment is at hand. Now and only now, as you read this, do you have to repent and to make good the injustice and suffering you have allowed and caused. Your fate is at hand and your doom is now. Repent in your heart, give all you have for the purposes of Yahu’ah Sabaoth through His Son, Yah Shua HaMashiach, and forgiveness and eternal life may yet be obtained. But you must do it now. So says an oracle of Yahu’ah Sabaoth.
Don't expect happiness. You won't get it. People let you down. In the end, you die in your own arms. It's all a big nothing. What makes you think you're so special?
You're right that relationships matter, and are critical to success. The contrast in her styles, though consistent with her values, separated them to me, so that I didn't necessarily tie the external (donors) with the internal (volunteers).
In this particular case, many donors become volunteers and volunteers become donors or even more committed donors. So providing a good experience to volunteers and preserving your quality can drive long-term success.
You're absolutely bang-on with these 10 principles. You implied another important managerial talent that I thought was worth highlighting: "Miss Vickie pitches for volunteers and donations to members of area churches . . ." In other words, she not only has to do a great job managing in the challenging environment of minimal resources and volunteer workers, but she also is responsible for robust external relationships on which her work totally depends.
Besides making Miss Vickie even more eligible for recognition and honor, it suggests an additional principle for good management:
11. Recognize the necessity of managing important external relationships as well as internal ones. If you aren't talented in both areas, find a partner to help.
A really good manager provides "air cover" for his/her people. So even if your external constituencies don't provide your funding or volunteer workers, keeping your folks from unnecessary static from outside or above enables them to focus on what's important.
I do post other peoples work on my page. I use it in networking and keeping m clients ingaged, positive, and try to help them handle their stress, frustrations and keep a good outlook. Take a look if you would like. I love the blogging community! http://sreupert.squarespace.com/
This is the setup
1. lifelong goals
A. and sub goals
a. ways to work toward those goals in the short term
Here are my goals
1. Have children/good wife
A. meet girls
a. read about the science of relationships
b. learn how to do things that would make me a more attractive partner (cooking, dressing well, controlling my emotions, ect.)
2. Live to be 100 in good health
A. read about nutrition/exercise
a. exercise
b. eat the foods I've found to be healthy
c. practice mild calorie restriction
3. get a career I like
A. finish grad school
a. study
b. read journals that publish articles in my area
B. figure out what sort of activities I find fun in my area
4. learn everything I can
A. use computers and the internet to greatest advantage
a. find out what services are offered by various websites
b. read blogs by individuals more tech savvy than myself
c. learn how to write programs and webpages
d. figure out how to use services offered by the university library
5. be financially sound
A. read about financial solutions for individials
a. read about common problems people have financially
b. figure out how much money I need to put away to retire well
B. keep an eye out for entrepreneurial opportunities
a. read about how other people in my area started businesses
b. read about success AND FAILURE stories in my area to see why one might succeed and fail
c. read about patent law
As I read the article on lock bumping it really spoke to me; particularily from a home invasion perspective. The fact the Lock Jaw is engaged from the inside didn't really bother me - no different than the door chain we used to have. We received our Lock Jaw's in only 4 days, and installed it in about 4 minutes! Thanks for letting us know about this great product. (Note, I really liked their website - www.lockjawsecurity.com)
mix a little bit of plain yoghurt with porridge and add some lavender in the mixture.
this gives my face a soft touch and it is no longer greasy.
i also have less impurities.
if you want it to exfoliate aswell, add a little table salt or sugar!
i luv burt's bees product, they are sooo cool!
Thanks for your post. It is an important idea for people struggling with how to use their credit cards.
I think the credit card companies have made major inroads, especially with young people, by creating the perception that having a credit card is the best way to establish your credit rating.
Certainly making small purchases and paying it off immediately can help establish a good credit card rating, however too many people run into credit card problems. So while they are establishing a credit rating, it is not the type of rating they are hoping for.
Supercharge Your Mortgage is a totally self directed, step by step mortgage equity accelerator program. The book on CD is in "Point and Click" page turning format and comes complete with easy to use interactive calculators to track your equity growth. The Phenominal Program That Enables Mortgage Free Home Ownership! Change Your Life Forever“Supercharge Your Mortgage”, the system that is mathematically proven to work! It cannot fail! Whether you've had your mortgage for 1 month or over 20 years, it works! If you have a fixed rate, adjustable rate or interest only loan, it works! If you have a Conventional, VA or FHA loan it works! Just refinanced your home or making bi-weekly payments? It works! No matter what kind of home loan you have, if you are making a house payment, "Supercharge Your Mortgage" will work for you! Find it at http://www.SuperchargeYourMortgage.com or Amazon Books has it..
good to know - i'll keep that in mind. last time i needed some of those 1.5V batteries we just ordered them on ebay - for pretty cheap.
Microlending is a good example of trying to shoehorn sustainability into a high-rate world.
A microfinance borrower is able to engage in the kind of long-term thinking that low interest rates allow, such as buying their own seed oil press, rather than using someone else's for a fee. If the discount rate were high, it would be impossible to justify buying equipment--even if it might pay for itself in a matter of months. (Not to mention that it would be impossible, because the capital wouldn't be available.)
Microfinance, though, is only available through the generosity of the people who fund the lenders. In a world with low interest rates, we wouldn't need to depend on generous rich people making capital available. Ordinary capital would be available at low rates.
Low interest loans are the premise behind microfinance, which really could save the world if it spreads enough. Hence the 2006 Nobel Peace Prize winners.
all i got to say is **** the battery companies. holding out on us.
I'm with Guest no. 1. There may be some things I regret I did (like having a power struggle with my daughter) but I cannot think of anything that I would regret I did not. What would be the point?
Its one of the best books i have read. If you look also at warren buffet he says something i can agree.."I dont want to be rich to buy Ferraris"
The most important part of the equation is at the end of the day do you have a positive cash flow or not. People often seek for the business and deal of their lifetimes, however that serves no purpose if you cannot save.
The only money that is really yours is the one you save.
Other great books i recommend:
- Richest man of Babylon (Personal favorite)
- Rich dad poor dad
I just recently tested the computer games by Rich dad Poor dad. Cashflow 101 and 202. Although they are not as entertaining as XBOX, you WILL learn how to calculate your cashflow, and learn the differences between Capital Gains and those that generate Cash Flow. I recommend it. After playing for some weeks I decided to calculate exactly how much money i spend daily, and my current financial situation. This just makes you conscious to make better decisions.
@Danny: I certainly do believe that you need to establish a credit rating if you plan to do things like buy cars & houses and all the other things we generally need loans for. It's so important to establish a good history before you walk into the bank for that loan. And you're also right - kids are being given credit cards but often don't understand how they're supposed to use them, or don't have the discipline to use them correctly, thus doing more damage than good.
As Jtimberman said, you can just control spending by cutting up the cards and closing the accounts, but I wonder if that's a bit short-sighted too. Just because you might have a weakness for whipping out the credit card when you are in ABC store doesn't mean you shouldn't have credit cards at all.
I have a horrible memory, and often forget things I need to do, chores, etc. But that doesn't mean I'm too irresponsible to do the vaccuming.....I just need to work around my forgetfulness by leaving notes around the house, or some other creative tool to help keep me on track.
I view this little tip as just one of those creative tools to keep us on track if we know we're the sort that can wander a bit.
A bank and a credit union have both educated me on money laundering, and if anything it looks a lot easier now than it did before I got in the industry. That being said, I don't have any money to launder so the information is totally useless.
Some good articles related to the wellness of your dog and dog food can be found here www.tipconnection.com/tc_pet_care_and_pet_food.html
I think organic home cooked food is the best way to go to feed my dog, it seem to show, ill post a picture soon ;-)
If i didn't need the money for a while, i'd just create a foundation that accepted anonymous donations buy/build a huge house for the said foundation, and then upon retirement have the foundation give the house to you as being a highly placed member of the foundation.
I hope no one would read this post as advocating laundering money, as opposed to educating people about what it is.
I remember worrying about the various crises you mention, and others--the New York bankruptcy of the mid-1970s, stagflation of the late 1970s, the high interest rates of the early 1980s, a couple of Mexican devaluations, the Asian debt crisis--the list goes on.
Several times I thought economic collapse was a likely possibility, and yet the economy recovered each time. Eventually, I became rather blase about the risk of a genuine collapse.
If there's a real collapse, then your TIPS or I-Bonds may be worth nothing--but that'll be the least of your worries.
Of course, there's nothing wrong with repenting too.
If anyone remembers the financial crisis that occurred in this country in 1988, now would be a good time to learn its lessons and put that knowledge to use. First of all, what’s happening now is already worse than what happened in 1988. In 1988 so many lending institutions failed that the FDIC and the FSLIC couldn’t handle all of the assets and liabilities of the hundreds of failed banks, savings & loans, and other financial institutions. In response, the federal government created the RTC (Resolution Trust Corporation). When the RTC was finally dissolved by Congress, some 20,000 foreclosed properties had still not been disposed of!
Much has changed since then. The United States economy now ranks a weak third in the world instead of a strong number one (China is first, India is second, and the European Union may soon overtake us for third!). We no longer even produce most of our own basic necessities! Worse still, we are now embroiled in foreign conflicts and “nation building” exercises that are costing us hundreds of billions of dollars every year while multi-national corporations are reaping whatever profits are to be had.
Even our government “of the people, by the people, and for the people” is out-sourcing many basic projects and tasks to businesses in other countries. Most of our country’s ports are run by foreign corporations. And with our entire military mobilized and mostly deployed in some 163 foreign countries, the NATO troops stationed here out-number our own troops!
Consequently, we cannot reasonably expect our economy to rebound as quickly or strongly as it did in 1988. Furthermore, the present financial crisis is by no means finished. Indeed, it may still have a long way to go before it bottoms out. The Feds have already sunk over 140 billion dollars in less than a week to shore up the stock market. It has already reduced its discount rate by half of a percentage point. And it has loosened up requirements for FHA loans to help some homeowners with ARMs to refinance.
Yet financial institutions continue to fail. They continue to lay off employees. They continue to foreclose on the increasing number of homeowners who can not pay the higher payments resulting from their ARM’s new rate. Since the lending institution now has an additional property that it must pay insurance, taxes, and upkeep on, it has not only lost the principal and interest from the loan that was defaulted on, but it now has an additional expense as well! Instead of working with homeowners restructuring their loans so that payments remain the same, or are even reduced, these institutions act as if they have no choice but to foreclose on the property or force the homeowner to pay higher payments (which results in eventual foreclosure anyway). It seems that these institutions would rather fail than to reduce their profit margins.
Go now you who are rich, cry for your despair that shall come upon you. Your riches are tainted and your garments are moth-eaten. Your gold and silver are cankered and the rust of them shall be a witness against you. And it shall eat into your flesh as it were fire. You have heaped up wealth together for the last days. Behold, the just wages of the laborers who have reaped from your fields, which you keep by fraud, cries. And the cries of them who have reaped have entered into the ears of Yahu’ah Sabaoth. You have lived in pleasure on the Earth and have been wanton. You have nourished your hearts as in a day of slaughter. You have condemned and killed the just and they do not resist you. (James 5:1-6)
The results of the 1929 crisis was more government regulation of our economy. The results of the 1988 crisis was even more government regulation of our economy. So what will the results of this crisis be? As the government increases its control of our economy and as we develop a cashless economy, our ability to buy or sell without the government’s knowledge or consent will be gone. In order to buy or sell we shall have to have a personal identifier recognized by the government. So please consider the following:
And that no man might buy or sell, unless that he have the mark, or the name of the beast, or the number of his name. (Revelation 13:17)
And the third angel followed them saying with a loud voice, “If anyone worships the beast or his image and receives his mark in their forehead or in their hand, the same shall drink of the wine of the wrath of Yahu’ah which is poured out without mixture into the cup of His indignation. And they shall be tormented with fire and sulfur in the presence of the holy angels and in the presence of the Lamb (our lamp, Yah Shua HaMashiach). And the smoke of their torment shall ascend upward forever. And they shall have no rest day or night whoever worships the beast or his image and whoever receives the mark of his name.” (Revelation 14:9-11)
Judgment is at hand. Now and only now, as you read this, do you have to repent and to make good the injustice and suffering you have allowed and caused. Your fate is at hand and your doom is now. Repent in your heart, give all you have for the purposes of Yahu’ah Sabaoth through His Son, Yah Shua HaMashiach, and forgiveness and eternal life may yet be obtained. But you must do it now. So says an oracle of Yahu’ah Sabaoth.
Don't expect happiness. You won't get it. People let you down. In the end, you die in your own arms. It's all a big nothing. What makes you think you're so special?
You're right that relationships matter, and are critical to success. The contrast in her styles, though consistent with her values, separated them to me, so that I didn't necessarily tie the external (donors) with the internal (volunteers).
In this particular case, many donors become volunteers and volunteers become donors or even more committed donors. So providing a good experience to volunteers and preserving your quality can drive long-term success.
You're absolutely bang-on with these 10 principles. You implied another important managerial talent that I thought was worth highlighting: "Miss Vickie pitches for volunteers and donations to members of area churches . . ." In other words, she not only has to do a great job managing in the challenging environment of minimal resources and volunteer workers, but she also is responsible for robust external relationships on which her work totally depends.
Besides making Miss Vickie even more eligible for recognition and honor, it suggests an additional principle for good management:
11. Recognize the necessity of managing important external relationships as well as internal ones. If you aren't talented in both areas, find a partner to help.
A really good manager provides "air cover" for his/her people. So even if your external constituencies don't provide your funding or volunteer workers, keeping your folks from unnecessary static from outside or above enables them to focus on what's important.
I do post other peoples work on my page. I use it in networking and keeping m clients ingaged, positive, and try to help them handle their stress, frustrations and keep a good outlook. Take a look if you would like. I love the blogging community! http://sreupert.squarespace.com/
This is the setup
1. lifelong goals
A. and sub goals
a. ways to work toward those goals in the short term
Here are my goals
1. Have children/good wife
A. meet girls
a. read about the science of relationships
b. learn how to do things that would make me a more attractive partner (cooking, dressing well, controlling my emotions, ect.)
2. Live to be 100 in good health
A. read about nutrition/exercise
a. exercise
b. eat the foods I've found to be healthy
c. practice mild calorie restriction
3. get a career I like
A. finish grad school
a. study
b. read journals that publish articles in my area
B. figure out what sort of activities I find fun in my area
4. learn everything I can
A. use computers and the internet to greatest advantage
a. find out what services are offered by various websites
b. read blogs by individuals more tech savvy than myself
c. learn how to write programs and webpages
d. figure out how to use services offered by the university library
5. be financially sound
A. read about financial solutions for individials
a. read about common problems people have financially
b. figure out how much money I need to put away to retire well
B. keep an eye out for entrepreneurial opportunities
a. read about how other people in my area started businesses
b. read about success AND FAILURE stories in my area to see why one might succeed and fail
c. read about patent law
As I read the article on lock bumping it really spoke to me; particularily from a home invasion perspective. The fact the Lock Jaw is engaged from the inside didn't really bother me - no different than the door chain we used to have. We received our Lock Jaw's in only 4 days, and installed it in about 4 minutes! Thanks for letting us know about this great product. (Note, I really liked their website - www.lockjawsecurity.com)
mix a little bit of plain yoghurt with porridge and add some lavender in the mixture.
this gives my face a soft touch and it is no longer greasy.
i also have less impurities.
if you want it to exfoliate aswell, add a little table salt or sugar!
i luv burt's bees product, they are sooo cool!
The hot water faucet is quite close to my fridge ;-)
Thanks for your post. It is an important idea for people struggling with how to use their credit cards.
I think the credit card companies have made major inroads, especially with young people, by creating the perception that having a credit card is the best way to establish your credit rating.
Certainly making small purchases and paying it off immediately can help establish a good credit card rating, however too many people run into credit card problems. So while they are establishing a credit rating, it is not the type of rating they are hoping for.
Many people don't take these simple steps and wonder why they don't get the things that they want. And it should be:
If you don't know what you want, that's exactly what you'll get.
If anyone is interested I have a few 72 hour kit how-tos on my preparedness pages.
No, I don't think anyone needs to be in a panicked, or 'end of the world' or 'we are all gonna die' mode. I do feel it never hurts to be prepared.
If you would like to learn how to make a 72 hour kit or any of the other items on my site, you can find them here:
http://www.bevscountrycottage.com/prepare/
or the 72 hour kit specifically is here
http://www.bevscountrycottage.com/prepare/72hour.html
Bev Q
Supercharge Your Mortgage is a totally self directed, step by step mortgage equity accelerator program. The book on CD is in "Point and Click" page turning format and comes complete with easy to use interactive calculators to track your equity growth. The Phenominal Program That Enables Mortgage Free Home Ownership! Change Your Life Forever“Supercharge Your Mortgage”, the system that is mathematically proven to work! It cannot fail! Whether you've had your mortgage for 1 month or over 20 years, it works! If you have a fixed rate, adjustable rate or interest only loan, it works! If you have a Conventional, VA or FHA loan it works! Just refinanced your home or making bi-weekly payments? It works! No matter what kind of home loan you have, if you are making a house payment, "Supercharge Your Mortgage" will work for you! Find it at http://www.SuperchargeYourMortgage.com or Amazon Books has it..