Home : Will History Repeat Itself?

Will History Repeat Itself?

Posted by Donald J. Trump and Robert T. Kiyosaki on 8/30/2007 at 6:24 AM
Posted in Success

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In the 1930s, the German government had printed so much currency that its money nearly lost its value. One story tells of a woman who pulled a wheelbarrow full of money to buy some bread. When she came out of the baker's to get her money to pay for the bread, someone had stolen her wheelbarrow and left the money.

Hyperinflation devalues money. And while the social, political and financial environments that enabled Adolf Hitler to be elected German Chancellor in 1933 were complex, his rise to power was in no small part due to the middle class having their savings wiped out.

Back home, the 1930s brought the Great Depression, leading to Franklin Delano Roosevelt being elected president. Roosevelt brought in Social Security in 1935, a solution to a problem we still have to solve today. In other words, a solution to a problem caused over 75 years ago is again a problem today -- an even bigger problem, in fact. We are trying to solve a problem with government money, instead of solving the real problem. Other government programs that were meant to be solutions were Medicare (1955) and Medicaid (1966). Today, these problems are much bigger problems, again because we failed to address the real problems soon enough.

In 1971 President Nixon took us off the gold standard, which is exactly what the German government did, and today the U.S. dollar is falling and savers find their savings wiped out with very little left for retirement . . . except for Social Security and Medicare, which are also in trouble. History is repeating itself, only this time the problem is bigger.

What We Are Concerned About

Donald said it first: "I'm afraid we have developed an entitlement mentality as a nation. And I'm not talking about just poor people. Too many people, from the president and senators on down, expect a pension from the government. I really wish we could afford to solve their problems, but to do that would bankrupt our nation. We could ask the rich to pay for everyone, but would it solve the problem? And for how long would it even solve the problem?"

I agreed. Donald and I want people to let go of the entitlement mentality and become rich so they can solve the problem . . . their own problem.

The best way to solve the problem of bad financial results is to change our thoughts -- to start thinking like rich people rather than poor and middle-class people. That means losing the entitlement mentality --whether you are a military officer, government worker, schoolteacher, employee or just poor. If we do not stop expecting the government to take care of us, we will continue to have the same results -- a bankrupt nation filled with well-educated but financially needy people.

Donald J. Trump is Chairman of Trump University.

Robert T. Kiyosaki is bestselling author of Rich Dad, Poor Dad and other blockbuster books on success, including Why We Want You to Be Rich (written with Donald J. Trump.)

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13 Comments

Posted by *Gopi* Where Quality becomes Reality on 08/30/2007 8:51 AM

Right on target!!!

Mind affects matter and not vice versa.

SuperMind, etheric matter.
LowMind - hard, slow matter.

As inside, so outside, not vice versa.

Ina Matijevic

Posted by member1600131 on 08/30/2007 10:43 AM

It reminded me the time I was studying my masters degree in young Ukraine after separation from former Soviet Union. It was a transition time. There were hyper inflations. Ukrainian Government had released Coupons instead of currency. We had to carry millions of coupons.

Rajesh Shakya
http://www.rajeshshakya.com
Helping technopreneurs to excel and lead their life!

Posted by Security Futures Products LLC on 08/30/2007 3:53 PM

Dear Mr. Trump, The $20 Trillion Dollar U.S. housing market is up for sale. History will repeat itself for sure. But to Master this massive "me first" government bail-out mentality. We need the "right knowledge". We need to research, we need to go into action to develop a entry and exit plan. This initial stage of training and education from Trump University should discipline us against the unknown future. The bench marks set by Tump University will discipline us against the human tendency to fall easy prey to emotions, suggestions,impressions,and so forth. We can not afford to have a "runaway mind set" wit the globle market. The "right knowledge" of existence is when money loses it's qualities of fear over life or death and/or ( win all or lose all). As members of Trump U. we are the 'tool boxes". Trump U. supplies us with the "right tools" to go to work with. One of the principles of "mental independence" is to remove the most paralyzing obstacle to taking actions. And that is the preoccupation to one's own subjective survival. For example; What can Ms. Leona Helmsly's dog-Trouble, do with $12 Million Dollars ? But let's look at the message and not the messinger. The "real estate Queen of mean" relinquished any and all hopes or desires for survival. She accomplished one goal- The distruction of her enemy and that was her (TAXES). Cedric Bell, charitablechildcare@yahoo.com

Posted by Feoh on 08/30/2007 6:44 PM

Saki & Rum,

Best of luck on your journey to save the economy, you'll need it. Maybe step out of your comfort circle, swallow a little pride, and recruit team members who you might not want to admit can help handle the job with a creative twist. How do you know what poor, unhappy people are going through? No offense to either of you distinguished gentlepeople, however when was the last time either of you were poor and unhappy? Okay how about just poor? Right.

Looks like you need a champion of the people, by the people, and for the people; good luck, you'll need it! However, yoos guys and yo peeps are quite capable of rising to any occasion, this one included; do try and have some fun while you're at it! And shucks fellas, you know what they say, "nothing ventured, nothing gained."

And in all reality, Real Estate is a wonderful way to acquire money, but not wealth. Lets brake the word down my homeys: We-all-thy. . . looks to me like real wealth means that EVERYONE understands and lives personal divinity. But what do I know, right?

~Ale

Posted by member1643180 on 08/31/2007 4:03 AM

The statements made in this article hit home to us now. Its getting very crazy to the point, I can see the thirties again. Aug 29th when the stock hit very low , all kinds of statements went out, its worse than Katrina...etc They were ready to jump out of windows, I wonder if the 401k was in that
And issues of retirement, medical care and all the are being neglected. The mentality of things will take care of themselves, and when its our turn, the funds will be there. The evidence is showing so strongly, that the system shows no guarantee that our funds will even be there or much less have some quality of life.
Our systems today are failing us. To me even they way things get approved.
In the 1900 the systems and formulas where invented.
In the 20th century old systems are not making it, we are stuck.
We need to embrace the future and make it happen to change the system that is preventing us to move forward.
And I know its time for the real change to take place.
in the 20th century : the population jumped, housing jumped, people retiring and using funds jumped. The shoe box has changed and it doesn't fit for us today. To me, it would be better for more people to be landlords than renters. To expose the real problem of the systems and deal with the root issues. instead of the replace this with Artificial appearances. To many unclean hands, we need the hands to be cleaned with Open books & Open minds to learn the mistake patterns.
Seeing everything what we must do and not do and not be afraid to make the changes. The is a revolutionary time we are living in. And the younger ones have fresh eyes and perception to change the future. We just need to guide, support and collaborate.the best we can to apprciate and move it, move it.!!!!!!!!!!!!!!!! We are lagging behind don't you think.
This can go one way or the other. It is up to these stubborn people to realize the we have out grown these old systems before we die, and get aided by China.

Posted by u241530 on 09/02/2007 12:11 PM

Mr. Trump, Mr. Kiyosaki;

I agree with this article to a great extent. Right now we are facing the beginning of something which may turn out to be the "perfect storm". Considering how the whole subprime mess is affecting the economy and Wall Street thanks to risky loans becoming securitized and thus a high a level of home loan defaults, and also with the first set of baby boomers set to retire in the next few years, we have a major set of problems on our hands.

Most people are blithely unaware of this, and even many people in finance are either turning a blind eye or telling the general public that the market will rebound and the economy will remain intact. For the sake of the middle class I hope so. However, the middle class here in the United States still faces other challenges aside from upcoming economic difficulties such as potential outsourcing of white collar jobs, and those with certain blue collar jobs risk either having their jobs outsourced as well or lowering their income due to their work becoming automated.

This is a time in which many Americans will have to find alternative sources of income. Unfortunately most folks only know about working for money - one of the lower quality paths to amassing income.

Godspeed. Mr. Trump, Mr. Kiyosaki. Thank you for your efforts.

Posted by Susan Bayne on 09/03/2007 2:17 AM

I agree. It seems more and more people are looking for someone or something to take care of them. Rather than learning how to be responsible for their life. We all have a responsibility to take care of the life we have been given. There is a verse in a song I listen to that says:

Every day is a gift
we've been given.
Make the most of your life,
every minute your livin.

I like that.

Have a nice day!

Susan Bayne

Posted by Susan Bayne on 09/03/2007 8:14 PM

In my last post I shared a verse from a song I like. I need to make a small correction in regards to the words.

Song: "Life Means So Much." By: Chris Rice

I wrote: (which is incorrect.)

Every day is a gift
we've been given.
Make the most of your life
every minute your livin.

Chorus: (correct.)

Everyday is a gift you've been given,
Make the most of the time every minute you're livin.

Of course, I like that too.

Have a great day!
Susan Bayne

Posted by member1631964 on 09/04/2007 11:21 PM

Lets face it we have become an entitlement society as a whole because to few people are willing to take responsibility for there own lives and financial as well as physical and spiritual well being. Why? When it’s easier to blame someone else for our problems and expect someone else (mainly the government) to take care of everything. It’s almost like the child who never learned to grow up and stand on his/her own two feet as responsible adults. Myself having come from a family that was dirt poor was fortunate enough to learn at a young age that the world/ government, or nobody else for that matter was going to give me anything that I didn’t earn. Life is not easy but then again neither is poverty or waiting helpless for someone to take care of you. If we all could understand that we really are in control of our own destiny and have the courage to get up and do something about it we all would be better off. When we blame others for our problems we lose the control to change the situation. The small everyday decisions really do make a difference whether we want to accept that truth or not. Instead let’s take responsibility for ourselves and then we are empowered to take action to change our lives for the better.
The first step is to take responsibility!
The second step is to seek information!
The third step is to take action
The fourth step is to evaluate, adjust and repeat the first three steps
Then and only then will we have the power to stop repeating itself.

Lloyd Scripter
lscripter@parishonline.tv

Posted by member1616413 on 09/06/2007 11:34 AM

it just seems like our society is becoming more selfish and using the excuse that others do not deserve our support, whether it be financial or educational because they are less fortunate. The majorities education from a young age has been as followers, not leaders. They go to work all their lives to give themselves to our selfish society only to be in most cases thrown aside branded as useless, and only demanding rights that they paid for in sweat equity. I believe that if private interest will not fulfill it's responsibility to society because of it's selfishness and greed then the hard working people of this world must. Christ said that
there would always be the less fortunate in this world, and that the ones that were knowledgeable should step up by helping others in a doing for, doing with and letting do helping attitude of service to others. I also believe that maybe we should focus on reading some autobiograghies about Jesus Christ, Mother Theresa and others that have fully spent themselves on serving others and not selfishly judging others because of their excuces of self satisfaction. We cannot take anything with us when we are dead, and all the wealth and the flaunting of it will not leave a lasting legacy. i have heard of certain people building a huge enterprise to the glory of God to help others, only taking enough out of the company to live on, all the rest goes to helping people fulfill their God given destinies. whether it be a ditch digger or leader of peaople, or should I say servant. Does not even a ox deserve to eat for his work, don't feed the ox where will we be? I believe our attitude sucks, and we really must take a look outside ourselves and our selfish pridefull selves so we can change things for others right from an early age, we have a responsibility because God has given us wisdom.

Posted by lightwayvez on 09/13/2007 6:45 AM

Without social security then we are back to the concentration camp ethics where I believe Hitler hung a sign that said:

"work is freedom"

Posted by member1619953 on 03/06/2008 12:57 PM

It will only repeat itself if you guy's stop doing what your doing......keep the fire burning!

Posted by Rachael Sutton #1253595 on 12/11/2008 11:53 PM

I agree, but even with the problems in our economy, there is still no place I'd rather be living than in America. About 10 years ago, exhange students from Russia and Ukraine shared with me a teacher made the equivalent of about $30/mo. This was not even enough to buy meat such as sausage more than 1-2 times. Since they didn't have checks as part of the banking system, the teachers would have to bring boxes, grocery sacks or something to carry their pay home from the school, and it was paid in coins.

You are right, all of our programs and systems need to be re-examined and improved. I used to have a sign on my office wall. "There's got to be a better way - your challenge is to find it." So, what do you suggest we do? How do we bring about the shift in thinking?

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