I read a rather long letter weekly by John Mauldin – Thoughts from the Front Line. He is a good writer and covers economics on a large scale. His recent post gives his idea of what our politicians and more correctly the President, need to focus on for our economy to survive the coming “debt crisis”. As with those preceding us (Greece, Italy, Spain, Japan, etc.) you can not live on spending more than you take in for very long.
In his recent post I found this statement very “to the point”. No matter what you strive to do, in order to do it well you must do it a lot and with enthusiasm. You can never get good at anything by wishing it were so or by taking a class and not practicing. This statement was really to the point: : As Malcolm Gladwell says in The Tipping Point, practice something for 10,000 hours, whether it’s playing music (as the Beatles did) or writing software (as any number of successful entrepreneurs did, long before they became rich and famous), and you can get good. Rarely can you just get lucky. That is not the real world. As the saying goes, the harder you work the luckier you get.”
I think we have all gotten a bit too “expecting”. We have become a generation or two or even three that “expects” instant gratification. The recent advancements in technology and many other functions has made us all think it can happen with out input. The reality is, for what ever you desire, and what ever you collect, you do have to pay for it at some point. the point is to pay early and not be saddled with a debt you can not control later as it grows beyond your means. – WD0AJG