The current economic crises are the result of greed and incompetence.

There is a reluctance to address some of the root causes of these crises:
1. Predatory lending.
2. Loose credit and declining standards.
3. Overspending by Congress.
4. Over promising by politicians.
5. Basic mismanagement of government - too much bureaucracy without a merit system.
6. Lack of competitiveness reflected by huge trade deficits.
7. An election system often based upon who can read the polls better and spend more money.
8. The overall fall out from the implosion of the housing bubble.

The results are staggering losses and pain reflected by:
1. Home foreclosures – up 53% since this time last year.
2. Escalating gas and food prices – wholesale prices have risen by 9.2% since 2007.
3. Loss of jobs.
4. Depreciation of the dollar – down over 13% against the Euro in the past year.
5. Stock market losses – blue-chip stocks down over 21% in the past year.
6. Bank failures – Indy-Mac is the 2nd largest bank failure in U.S. history with more to follow.
7. Continued selling off of prime U.S. assets, such as Anheuser–Busch, as a result of the depreciation of the dollar and running negative trade deficits. Foreign companies and countries will continue to exchange U.S. dollars for real assets. We are seeing the greatest transfer of wealth in the history of mankind – from us to others.
8. General Motors suspends cash dividend payment for the first time since 1922.

This is downright sad for America and its people.

America, the richest nation in the world has become a media circus of false promises and promotions.

The truth is: we cannot keep bailing out our system with “band aid” measures.

If our government were run as a business, the following would happen:

1. Steps would be taken to have more money coming into America than is going out. For example, dealings with other countries would be evaluated and restructured so that we would bring in more money than is going out. We would be forced to learn how to become competitive again, like an economic Olympics with people trained and in training.
2. The government would not rely upon increasing taxes and simply printing money to cover up for its incompetence and deficit spending.
3. Workers (bureaucrats) would be accountable.
4. Job training would become mandatory for workers who lose jobs from plant closings. For example, new skills must be taught to make workers productive for the new economy.
5. “Fixed” expenses – e.g., social security or payments to veterans – would be listed for all to see and monitor every day. It would become clear that a large part of our deficit consists of these “fixed expenses.” Only a small part of our budget can actually be reduced based upon our commitments to various vested interests. As a nation, we would decide what we can really afford and stop over promising.
6. A plan for re-building and maintaining the necessary infrastructure would be implemented. Our government would work with private enterprises to rebuild roads and tunnels.
7. Specific steps to rid the country of oil dependency would be put forth in detail, with milestones and rewards and penalties if goals were not met on time.
8. Bailouts of banks and other financial institutions would stop.
9. A specific plan for Iraq would be set forth. How can we best protect our interests and service people over there? What can we afford, and what resources can we commit to over what period of time? Certain calculations regarding troop deployment and troop reductions would be kept confidential to protect our people.
10. Election reform would be enacted so that time and money went toward improving how the government is run rather than constantly focusing on running for office. There is enough computer power to set forth specific political positions proposals and plans for the electorate to vote upon. Candidates would be forced to spell out their positions clearly without the constant manipulations.
11. Global pollution would be addressed with all offending parties. Short timetables would be set for remedying the problems. Industry would be forced to comply without carve out clauses.

Without a sensible business-like approach to what we can afford, and without making clear who will do what and when, we are simply putting band aids on serious structural problems that will only get worse.

No business or government can please all the people all the time. There are no free lunches. What our country stands for is not declining; the government, the politicians on both sides, and its standards are declining.

We need to have the courage and resolve to face a grossly mismanaged government and elect people who will put the country ahead of their individual interests. “A journey of a thousand miles begins with a single step.”

http://www.askdestiny.com - AskDestiny® has analyzed success fundamentals for over 25 years to give answers and solutions. AskDestiny® reveals solutions for making money, building wealth and living the life you always wanted - what really works today and has worked throughout history.

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• When you go to the doctor, you want a cure for the pain, not a band aid.

• When you go to an accountant, you want to know the real numbers – what do you own; what do you owe; what do you want

• What if your doctor or your accountant won’t tell you the truth?
You’d fire them.

The Illnesses:
1. No politician – Democrat or Republican – will tell the real truth
2. Blaming it all on Bush deflects from the real truth – it’s the fault of both parties. They make up the legislature.
3. Overspending
4. Ballooning debt
5. Negative Trade Balance
6. Overdependence on oil leads to energy crisis
7. Disproportionate use of the world’s resources
8. Export of jobs and manufacturing
9. Over stimulated economy - too low interest rates led to housing bubble/dollar depreciation
10. Medicaid and Social Security obligations unrealistic
11. Attempt to be the world’s policemen – poor Iraq exit strategy
12. Seeking scape goats – not solutions

Remedies:
1. Tell the truth
2. Stop manipulating inflation figures
3. Cut back spending; return to balanced budget by law
4. Commit to rebuild infrastructure
5. Commit with corporations to massive job training with computer skills mandatory
6. Make public school work on a merit system
7. Make bureaucrats also work on a merit system. Nasty and incompetent bureaucrats get booted. No lifetime jobs.
8. Push oil giants to extract oil from shale and gas from our own fields.
9. Force car manufacturers to make fuel efficient cars now.
10. Cut out the ridiculous time and money for primaries and elections.
11. Cut out violence on TV in spite of freedom of expression. It is an “attach” on our nation – especially our children.
12. Stop lax lending standards and predatory lending.
13. Limit games lenders play with their credit cards – make lenders post real credit card costs in large print.
14. Eliminate all fine print in contracts and advertising. Have large print with the real costs.
15. Make armed services accountable for wasteful spending.
16. Limit lobbying with specific rules and submissions.
17. Issue understandable reports that reveal real conditions of the US economy.
18. Deal with China and other countries where we have the guts to even the playing field as to currencies and laws.
19. Incentivize corporations to use US manufacturers.
20. Stop Federal bailouts of private sector companies.
21. The new energy policy should include economic energy (even if higher nuclear cost per kilowatt is higher than fossil fuel’s costs) (80% of France’s electricity comes from nuclear power plants; China is building 40 nuclear plants).
22. Have off-shore drilling and investments in alternative energy, such as wind and solar.

The way to cure illnesses is to attack the real causes. The way to account is to show real numbers and have someone be accountable.

http://www.askdestiny.com - AskDestiny® has analyzed success fundamentals for over 25 years to give answers and solutions. AskDestiny® reveals solutions for making money, building wealth and living the life you always wanted - what really works today and has worked throughout history.

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How to Create Wealth in Uncertain Times. Join me Tuesday, June 24 at 8pm EST as I reveal how to stay on the success track and create wealth no matter how high gas prices rise. Choose wisdom over uncertainty this Tues.

To register for this event please go to the teleseminar link on our blog on the bottom right hand side. It is the second link under our links section.

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How to Create Wealth and Avoid Massive Economic Pain

Massive Economic Pain = Structural Change in the world economy

Structural Economic Change is being reflected by:

• Increasing oil and gas prices
• Declining home prices
• Lose of jobs
• Competition for strategic metals
• Shift in economic power
• Depreciation of the dollar
• Sell off of US assets to foreigners
• Global Warming

In this fast changing economy, you need to understand and create a flexible plan that protects your downside gives you maximum staying power and takes into account the following:

1. Paper money is rapidly depreciating.
2. Inflation is higher than stated.
3. Changes in US oil policies will take many years to implement.
4. Real Estate home prices will adjust downward to the long-term
trend life of home price compared to rent ratios.
5. Stock market returns will not compensate for inflation
and taxes.
6. Proposed economic plans by politicians
will require an increase in tax rates.
7. There will be a desire to tax the rich as a deflection from the
real issues of oil dependency, overspending and exporting jobs.
8. Increased gas prices will affect all areas of life and
change business and lifestyle patterns.

How to Create Wealth in Uncertain Times:

1. Use leverage in every area of your business.
2. Exchange your talents, knowledge and skills for equity.
3. Use networking and collaboration to test every aspect of
your business before you launch.
4. Wherever possible do not take on any long-term commitments
such as office space or loans.
5. Review every expense as if it were too high and had to be lowered to survive.
6. Partner with groups that can spread your products
and services quickly in exchange for a share of the revenue.
7. Review all potential exposure to your assets especially legally.
8. Assess all commitments and prioritize those that
will give you the greatest rate of return for the least input.
9. Build flexibility into your business so that
almost all costs are variable and can be reduced
quickly if your investment is not giving you the best rate of return.
10. Be bold.
11. Do not fear to take calculated risks.
12. Be prepared to cut your losses and admit you’ve made a mistake.
13. Learn quickly from the mistakes and immediately try again.
14. Keep pushing forward.
15. Constantly build resources so you can take advantage of the many
opportunities that will be occurring as the marketplace changes rapidly.

http://www.askdestiny.com - AskDestiny® uses proprietary research and front line experts to solve your financial problems and build your wealth.

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·        Increasing Energy Costs

·        49.6 Billion more spent at the pumps in 2007

·        Plant Closings

·        Job Layoffs

·        Iraq War continues

·        Banking Institutions Assets Sinking

·        Unnecessary Bailouts

·        Inflation on the Rise

·        Continued Depreciation of the Dollar

·        Home Prices Falling

·        Overspending on presidential elections

 Amid the doom and gloom, there is a silver lining:

1.      Rising energy costs will make everyone aware of real costs.

2.      Front and center is our overdependence on oil – this will stimulate us to find alternatives.

3.      Less travel on the roads will reduce tax collections for highway improvement. Road improvement can be financed by the private sector working with the public sector. For example, Texas is encouraging private investment in its road systems and repaying investors through tolls – a smaller government model.

4.      GM is closing inefficient plants and moving up production in more efficient plants.

5.      Consumers are moving quickly to fuel efficient cars.

6.      The Iraq war is protecting our oil interests; providing stability in trade and marketing proximity to Iran’s threat. Among many lessons, the war is showing us the effects and costs of ill-conceived exit strategies and the serious problems that arise when we get involved in internal affairs of warring interests (tribal agendas).

7.      Banking Institutions are being punished along with consumers for lowering standards, overleveraging, predatory lending and pure greed.

8.      Home prices will continue to fall toward more historical measures of home price/rent rates. This will make homes more affordable. Some will learn that homes like any assets are not categorically great investments as often touted.

In the short run there will be great upheaval. We will come to see that big government is not the answer. By letting the economy sink and purge itself, we would come to grips with the results of our follies and the need for us to return to the fundamentals of a pay- as-you-go society.

We have to face that we should look to ensure equal opportunity not guarantee of equal outcome.

Taxing the rich and attempting to redistribute monies to others is not the answer.

Teaching people skills and fundamentals protects them and their livelihoods instead of exporting jobs and weakening our labor force and country. By making people more skilled, they become more productive and effective.

·        Irresponsible spending by our government will not cure the loss of jobs, increased energy costs, declining home prices, plants shutting down, the continued depreciation of the dollar and decline in our infrastructure.

·        The presidential election process is way too expensive, costly and distracting. Candidates should spell out their positions clearly and let the people decide without the political manipulations and over promises.

·        Politicians making impractical promises only excuses and attempts to reframe what is happening and will continue to happen – the Unwinding of America.

·        The solution lies in a return to fundamentals that will maintain and improve America’s status as the most powerful democratic society in history.

·        Returning to fundamentals means leaders need strongly to advocate a raising of standards for educating and training citizens in work – related skills; preventive health; parenting; sex; drug use; drinking.

·        The American Dream has to be re-framed away from mindless entertainment and violence.

·        We should be making visible the hard working unheralded people who earn their way without looking for the quick buck the quick fix and politically motivated doles from governments to delay the unwinding of America.

·        Instead, we should focus upon the fundamentals that can put our country back on a sound foundation for renewed growth.

http://www.askdestiny.com - AskDestiny® has analyzed success fundamentals for over 25 years to give answers and solutions.  AskDestiny® reveals solutions for making money, building wealth and living the life you always wanted - what really works today and has worked throughout history.

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“AskDestiny is partnering with EuroCircle to create a new concept which combines community, wealth-building and romance.”

EuroCircle is a nine-year old worldwide community that brings together European professionals at events accross the USA and Europe.  EuroCircle has decided to expand its growing influence into bringing its members the ability to build their careers and businesses in an environment in which they can also make friends and potentially ignite romantic interests. 

EuroCircle and AskDestiny are planning an exclusive club whereby members would pay for unique combination of events, wealth-building and other services.  Please sign up for the event in New York on June 11th and give us any feedback on the concept and whether you would like to participate. 

Event info:  http://www.eurocircle.com/events/calendar/event.php?eid=2092

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Teleseminar with Self Mastery Secrets.com tonight, May 29, 2008 at 8pm EST with Keith Matthew.

http://www.wealthychoiceslive.com/ns-cashflowcall.html

This teleseminar is my first public discussion of wealth building since I was welcomed on stage by Jay Abraham in the 1990s.  At that three day seminar I discussed timeless wealth building strategies and techniques which I used to build assets and wealth. During that time I also found that I was building liabilities which I needed to convert to assets to live the life of which I dreamed.

The teleseminar tonight with Keith Matthew covers basic fundamentals of wealth building overlooked by many people especially entrepreneurs.

Today’s world is dramatically different than the one in which I discussed with Jay Abraham. Ironically, many of the strategies and techniques that Jay Abraham and I spoke about are still valid today. The key difference is how to apply them into today’s context of the age of speed, the age of the internet, and time poverty.

In this teleseminar I will show the following:

1. Most people work for their liabilities and not their assets.
2. The ability to manage your time and to get things done quickly is truly an asset.
3. With the strategies principles and models that I have developed I am able to cut through most opportunities in three minutes or less.
4. The faster you can evaluate opportunities the more opportunities you can review and the greater your chances of finding the opportunities that can bring you significant sales cash flow and wealth.
5. I will reveal some of the key fundamentals that all wealth builders use daily to evaluate and build their assets and wealth.
6. I will also demonstrate that playing to your strengths sounds great but such an approach can avoid a liability that can undermine your assets and potentially bankrupt your company or your life.
7. You will learn how to build assets that work for you rather than you working for your assets and liabilities.

We look forward to getting your comments on the Secrets of Wealth Building: How to Convert Liabilities into Assets. 

In appreciation of your comments we will email you a special free report on Wealth Building.

Again, we want to thank Keith Matthew for his gracious efforts for all of us.

Very truly,

Gary Spirer 

Filed under: Finance | 1 Comment »

·        Warren Buffet is right that our country is in a financial recession.

·        Jobs are down, home prices are down, food gas and oil prices are up.

·        Inflation will be on the rise.

·        Notwithstanding bleak financial issues, the real recession is one of mindset.

·        The key to succeeding as a country is to embrace our failures and learn from them.

The following are failures that we can learn from and turn into assets and successes:

1. Infrastructure – sound governments and sound companies need to keep rebuilding and renewing their infrastructure. Without a good infrastructure we lose the foundation upon which to transact and to connect in the most efficient and affective way.
2. We may win the battle but lose the war.  Wars without a planned end game. Our troops have fought admirably and with great dedication. Going into other countries needs better planning as to how to get out.
3. Oil dependency – it is has been clear for some time that we lack any definitive strategy as to how to reduce our dependency on foreign oil. We will increasingly be competing with China and other countries for oil. The lives of Americans will keep being effected by both supply and demand fundamentals as well as by speculators.
4. Political promises –again we are listening to promises by politicians that will can and never will be fulfilled. Politicians are constantly promising that the government will continue to write checks as band aids to cover up the real problems that we are facing as a nation.
5. Lowering of standards – we are too often lowering the standards of what it means to be an American. We are allowing financial institutions to promote us with fine print, unrealistic mortgages, and the allurement of credit that we cannot afford. We are currently suffering from predatory lending practices.
6. Education – we are also lowering the standards of education. We are too interested in paying huge sums of money to celebrities and athletes rather than creating a merit system that awards and rewards great teachers and excellent teaching assistants.
7. Jobs – we are constantly exporting jobs to other countries especially our manufacturing. Countries that export the manufacturing capability within time will decline.
8. Job training – instead of giving money to others in a broad dole to stimulate consumption we should be teaching those out of jobs how to learn new skills that can be applied to building our infrastructure and our manufacturing capability.

We have reached a point where we should not run after politicians making promises that have no economic reality.

We should embrace our failures and like successful entrepreneurs and executives turn our failures into lessons for success.

Most importantly, we need to go back to the mindset of our founding fathers. The founding fathers risked their lives to earn freedom and to earn a living by working hard. The country grew without taxation and representation. The country grew because there were practical standards of living. There was a promise of equal opportunity not a guarantee of equal outcome.

Surely, the exception was slavery. However, the overall mindset was not to accept failure but to embrace it and turn it into success against the British and all foes until our recent history.

I believe totally in the ability of Americans to face some of the unfortunate occurrences in our time. 

http://www.askdestiny.com - AskDestiny® has analyzed success fundamentals for over 25 years to give answers and solutions.  AskDestiny® reveals solutions for making money, building wealth and living the life you always wanted - what really works today and has worked throughout history.

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Most of us are aware that our country was founded on the principal that we should not be taxed without representation. Events like the Boston Tea Party are part of our founding lore.

But, surely there is no cause for a celebration at present.

Here’s how you are being taxed without representation:

1. Inflation
2. Over-taxation
3. Overregulation
4. Political over-promising

  Here’s why you are not being represented:

1. Politicians typically will do anything to get elected
2. Politicians are promising solutions that are impractical

Here’s what is not being articulated fully:

1. The basis for our middle east positioning and the war is to protect the flow of oil to our country
2. Yes, we also need protection from terrorists
3. We have tremendous domestic issues regarding social security, Medicare, health coverage and a deteriorating infrastructure.
4. We have exported jobs without putting in place programs that train workers to adapt to the changing environments and marketplaces.
5. We have lowered our standards by allowing banks and other institutions to rip off credit card holders, home borrowers, and auto buyers.
6. Advertisements and contracts are full of fine print that put consumers at a disadvantage.

 There’s not enough to meet all the demands:

1.      By some calculations, only 20% of our federal budget can be changed.

2.      Politicians continue to promise what their constituencies want to hear rather than what they can really deliver.

3.      There is not enough money to fulfill these various promises.

  The age of manipulation:

1. The media is more focused on the contest rather than the reality of the promises
2. We are being manipulated into a dependency bailout mentality
3. We are given assurances, as if everyone can continue to feed off the government and not pay the piper in the form of a depreciating currency and an undermining of the American work ethic.

We need to return to our founding principles of guaranteeing equal opportunities not equal outcomes.   We truly are being taxed without true representation.

http://www.askdestiny.com - AskDestiny® has analyzed success fundamentals for over 25 years to give answers and solutions.  AskDestiny® reveals solutions for making money, building wealth and living the life you always wanted - what really works today and has worked throughout history.

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·        In difficult economies, you need clarity.

·        Clarity requires assessing both the big picture and the details.

·        When you are under financial stress, fear kicks in.

·        To overcome fear, return to simple fundamentals – assets v liabilities; cash coming in and cash going out.

 Here are some Insights and Solutions for turning your home into an Asset to generate Cash Flow:

1.      Make a detailed list of your assets. Assets that put money in your pocket v. liabilities are those things that take money out of your pocket.

 Critical Point: Homes are not Assets

2.      Your home is not an asset unless it puts money in your pocket. Your home is a liability or a series of expenses or outflows of cash until you can generate offsetting inflows of cash. Your home is, at best, an investment. Your investment turns into an asset if it puts money into your pocket upon selling or leasing it.

 Turn Your Home into a Money-Making Machine: Generate Cash Flow

3.      Turn your home into an asset or vehicle to put money in your pocket by looking into the following:

a.       Evaluate what your strengths and skills are.

b.      Look into putting events on in your house.  You can be paid to create focus groups or be paid for being part of a focus group

c.       You can be trained for multilevel marketing and sell from your home.

d.      You can you can use your skills to consult to other companies and work from your home.

e.       You can create e-books based upon your specific expertise and sell them on the internet for extra cash.

f.        Bake cookies; sell cakes and pies.

g.       You can look up other home-based businesses that match your immediate skills.

 Negotiate to Survive Foreclosure and to Recover: Protect your Assets

4.      The name of the game is market, sell, and collect. You can save yourself, your home and your life by learning to negotiate from strength.

5.      Many people are afraid to protect themselves.

6.      Start with taking responsibility for what has occurred; forget whose fault it is.

7.      Learn a negotiation skill a day.

8.      Negotiation starts with knowledge.

9.      Read and learn how to negotiate. Typically, banks do not want to take your home or to write off your credit cards or your auto loans.

10.  Another key to negotiation is to know what you can and cannot do. What are your options? The person with more options wins most negotiations.

11.  Make a 6 month cash flow projection as to your worst-case scenario. How much can you bring in each month and how much do you have to pay out each month?

  Design a Priority Payment Plan:

12.  Prioritize your payments.  Design a plan that shows what you can pay and when.  If you have any funds coming in, make small payments to those that are critical for you to survive.  Psychologically this is good for you and shows your creditors that you have good intentions.

Bank Negotiation Points:

13.  Find out what effective interest rate you are paying. Find out how you can reduce your effective interest rate, i.e., is your actual cost of borrowing money. The bank’s borrowing cost of money is very low. They are in trouble too. They are very motivated to have performing assets (those they are getting some payment toward) on their books.

14.  It is much more costly for banks to deal with foreclosing on your home or your non performing credit cards and auto loans.

15.  If banks recognize that you understand their costs of doing business, including the cost of tying up their employees’ time, you start to create more of a level playing field in your negotiation with the bank(s).

16.  If you have very little income, then you should lay out a plan for the banks as to when you can pay. Ask for a non payment or grace period if you cannot make any immediate payments. Tell the banks it is better that you are maintaining your house. An occupied house is easier to sell and keeps up the value for them as well as you.  

 Know When to Get Out and Cut Your Losses:

17.  If it is clear that you cannot maintain your home then get out. If you can’t sell your home, try to lease your home. Make every effort to stay within your community, especially if you have relationships and children.

18.  You can always find a way to rebuild your assets in your life if you are resourceful and resilient.

Protection:

19.  Do not sign anything without a legal review. You cannot save on protection. Fine print destroys assets.

http://www.askdestiny.com assists you in money-making wealth building and protecting your assets.

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