Before we get to the good reads!
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A Few Good Reads
Here are a few of my favorite reads from the past week.
1. How I Finally Paid Off a Lifetime of Credit Card Debt:
I’ve been a debtor all my life. My parents first met at a financial loan office—my dad issued loans, my mom worked in the office. They divorced when I was 10 and my mother was left to raise two daughters in Cincinnati, Ohio on a $20,000 a year salary. Money—or the fact that we didn’t have any—was a constant topic of conversation. My mother turned to credit cards to feed, clothe, and house her daughters. Open this article
2. Sarah Palin Compares Federal Debt To Slavery:
Speaking at a conservative fundraiser in Iowa on Saturday evening, former Alaska governor and Republican vice presidential candidate Sarah Palin compared the United States’ debt to slavery, claiming that younger Americans will be shackled by the country’s spending.
The Des Moines Register’s Jennifer Jacobs reports that Palin, speaking at the Iowa Faith & Freedom Coalition’s fall fundraiser, warned of the allure of “free stuff” offered by the government. Open this article
3. A Letter From America Concerning Worldwide Debt Cancellation:
I have taken the liberty to respond in the form of an open letter to your group discussion of how we should guarantee economic rights so no future government can ever again use either Austerity measures or personal or governmental bankruptcy to take away basic economic freedoms like food, housing and utilities. I once proved mathematically that Austerity measures cannot work in the sense of getting us out of debt. What they do is transfer wealth from us to the banks. I have a link to that article in the references below. I am the original author of the Annotated Bilderberg 2013 members list. I also included it in the references. Open this article
4. Don’t Worry So Much About the Record U.S. Government Debt:
There are legitimate worries for the short-term regarding the government debt, like how Washington will handle its next chance to agree on a spending bill and raise the debt ceiling. But the long-term fears regarding the debt can probably be filed away in the archives along with the other doomsday scenarios of 2008.
There was the certainty that the government’s massive bailout of banks and automakers would not work. At worst the money was being thrown down a bottomless pit, and the banks and auto firms would fail anyway. And at best it would result in the U.S. owning (nationalizing) the largest banks and automakers and running them as continuing money-losing operations, like the postal service. Open this article
5. Americans Greatly Underestimate Debt:
Americans greatly underestimate debt. It has been said by the economics professor of San Diego and the University of California that the federal government seems to provide wrong estimate to the public for the years on the amount of debt they have piled up. According to him, the real debt amount that the people still owe is $70 trillion. If the people want, they may opt for consolidation for repaying the debts. Open this article
Recent Posts On This That and the MBA
This That and The MBA was included in several carnivals over the last weeks:
Thank you for the mentions last week. I really appreciate it. Have a great weekend!