The Freedom Factory

For everyone that has a Facebook account, the status updates can be a powerful tool to get your opinions across to your friends-sometimes I just can’t believe what some people say! A closet socialist friend of mine posted a congratulatory post about Obama’s Nobel Peace Prize… Continue Reading

Nationwide anti-tax protests staged for April 15th tax day-rumors abound that leftist group ACORN intends to crash events, Obama administration readying to disclose results of bank stress tests, revisions to No Child Left Behind on the Obama agenda-prepare to see pervasive federal mandates in education, FDIC helps banks raise $300 billion through unregulated channels, Congress looks set to let D.C. school voucher program expire next year-Big Brother not prepared to let parents choose how to educate their own children, Spanish study casts skepticism on economic value of government creating green jobs… Continue Reading

There are two colossal events occurring in the world right now: Private credit and wealth is being destroyed, and in its place a good deal of money is being created. Much is taking place behind the scenes, driving this epic showdown between natural forces pushing for a return to sustainable equilibrium pitted against the full arsenal of man’s capability to resist.  Just as the fog of war can obscure a battlefield until the end, the outcome of this struggle is far from clear. Nonetheless, there are some telling events to note, signs for which to watch, and consequences to mull. Continue Reading

Today in the Wall Street Journal, Peter Wallison of the American Enterprise Institute proposes the Treasury purchase bank’s troubled assets at their net realizable values. Currently, these assets are priced at market value, which is below their net realizable value. (See diagram below.) Although there is a risk that the taxpayer might pay too much for these assets by buying them at net realizable value, the benefit is that these purchases would help to boost bank’s depleted capital. This in turn, should “eliminate doubts about banks’ solvency and free up their ability and willingness to lend again”. Continue Reading

Read an article this week that spoke about the habits of people who are not worried about their finances.  It is very likely that if you follow these habits, you will also not be worried because of financial issues.

1) They know where their money goes.

People who have a budget and know where their money is going are informed people.  They don’t have to ask their spouse “why do you need more money, you just withdrew $100 from the ATM 2 days ago?”  Every dollar spent is accounted for.

It is very hard to blow a couple hundred dollars impulsively if that money is already accounted for and needed somewhere else (on the budget).  It is hard to justify buying new clothes with money that is earmarked for college debt repayment. Continue Reading