During these times of financial crisis, some voices of sanity are arising above the din and buzz. Believe it or not, one of them is coming from one of the world's largest financial institutions - ING. Click on the website above to review their Declaration of Financial Independence, which includes several principles on how to SAVE (gasp) money over the long-term. Among these principles are such time honored maxims as "We will spend less than we earn" and "We will take care of our money."
The Founders, of course, believed in fiscal responsiblity and created the foundation on which our prosperity still rests. Perhaps it is time to reembrace Bejamine Franklin's thriftiness and take responsiblity for our own fiscal order.
Thursday, February 5, 2009
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Back in 2006, Prof. Kotlikoff was sounding the alarm. His then-mentioned $53 Tril in unfunded gov't obligations has now ballooned into $88 Trillion. The Federal Reserve is at the heart of the matter. They have not guarded the purchasing power of the dollar. Simon Johnson points to the continuing problem in the context of President Obama's new Whiz Kid.
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