Our basic financial system appears to be broken. The Federal government is borrowing from our future and using the money to bail out crooks, cronies, and contributors. Here we are on Main Street America anxiously waiting for the second Great Depression that the media is clamoring for, all the while looking around for solutions and saviors.
I can tell you who WON’T save us: the President, the Senate, the House of Representatives, Republicans, Democrats, Libertarians, the Security and Exchange Commission chairman, the Treasury Secretary, Uncle Ben of the Federal Reserve, or even a new President. No, what will get us out of this bind is the same thing that has gotten us out of binds in the past:
Getting back to basics.
Any football coach will tell you that when you’re down at half-time and getting whipped all over the field to focus on the basics of blocking and tackling. A track coach will tell you when you’re way behind to focus on each step and to keep your arms in and your pace steady. A golf coach will tell you to keep your head down and your left arm straight. A business coach will tell you to cut your expenses and grow your customer base. Getting back to the basics is the surest way to resolve any crisis.
Our “leaders” won’t listen to reason, so what are the financial basics WE need to focus on to insure that we, as individuals, have a secure financial future and that we don’t have to be bailed out (a personal bail out is called bankruptcy)?