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Listen to the Greeks

Posted by Donald J. Trump on 1/30/2009 at 8:52 AM
Posted in Personal Finance

The sea gets sick but never dies. This is a well known Greek motto that I think is pertinent to today’s economic situation. The Greeks have been around for a long time and they’ve watched the ebb and flow of history for many centuries. Their saying is based on observation, and we’d do well to give it some thought. If someone or something is sick, it means it has to be allowed to get better. That can take some time. It also takes care and a proactive commitment to a return to health.

Here we are in 2009 and we need to take care of a few things. A few days before the New Year, the New York Times ran an article by Peter Applebome called “Contemplating the Boobs We Were.” In it he mentions our high school and college systems that prize diversity yet have a big blind spot when it comes to finance. Students graduate with very little financial literacy, although they are well versed in history, foreign languages and math. Their knowledge of and exposure to how money works is not emphasized, and it is often not even present in the curriculum.

That’s why Robert Kiyosaki and I wrote Why We Want You to Be Rich Blog Image back in 2006. It was very clear to us that this was a big oversight in this country as far as education goes. Applebome mentions that even the most financially secure people today cannot afford to be stupid. Some very intelligent people have been taken advantage of as well as those with less sophistication in financial matters. To some degree, everyone has taken a hit.

We are a young country and our vibrancy can work to our advantage, provided we continue to acknowledge our good fortune and our ability to withstand pressure. Yet we can still learn from the Greeks and apply their wisdom to our situation.

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Donald J. Trump is Chairman of Trump University.

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12 Comments

Posted by Ayrshiree on 01/30/2009 1:13 PM

It's all "Greek" to me, Mr Trump! (lol) And another thing the Greeks got right, was their "Big Fat Weddings!" (lol)
Humor is really needed these dark days. No? :))))))

Posted by Brewer Caldwell on 01/30/2009 4:44 PM

I couldn’t agree more. The US financial "ship" is a big boat and it doesn’t just turn on a dime especially in rough seas. We have become a society that wants instant gratification. We need to be patient and do all we can to nurse it back into good health. At the same time we must be grateful for what we do have and not get stuck in the "woes me" conversations. We should all educate ourselves and our friends and our children more. As there is a looming hole in the financial education as you mentioned. We can all do our part to turn this ship around. My personal opinion is that real estate got us into this mess and I believe it is what can pull us out.

Posted by Business 2000 Foundation.com on 01/30/2009 6:07 PM

We dont know why we want to be rich..is not true..lol
More and more are going broke...In America.

Find a network of America solutions...and network world-wide.

Everything gets turned upside down in hardships and a person needs to find their inner strength, passion, and inspiration to move forward. Getting the executives hands dirty with all of us..lol Listen to America workers...lol

Posted by Allan2000 on 01/30/2009 6:19 PM

Important about humans nature: you can think your way to failure and unhapiness, but you can also think your way to success and hapiness. " a greek's life is wahat his thoughts make of it."

Posted by Ciprian Gherghescu on 01/31/2009 8:42 AM

Great! I recently read the book, and to me it is very inspiring. Thumbs up!

Posted by member1916235 on 02/01/2009 10:41 AM

Dear Mr. Trump,
Everybody wants to be rich but we require laws and regulations for various reasons. People rely on their government to protect financial processes with control mechanisms. The process gets unstable when that same government closes their eyes when unrecoverable mortgages are being sold to American citizens (reduction of financial control mechanisms for voting reasons). It gets even worse when that same government, aware of the risks involved, chooses to reduce their risk by selling the rotten products to international banking consortia. In this ‘protected position’ American bankers have felt safe to withdraw 18.4 billion dollar for bonus purposes in the middle of the financial crisis. As a result millions of people are suffering from financial downfalls, job losses and even worse. Everybody wants to be rich but nobody wants to see the other side of the coin. What are your losses / winnings now Mr. Trump?

Posted by William Bunn on 02/01/2009 9:54 PM

My wife and I were recently talking about all the financial problems of the world and she asked me, "where is Donald Trump?" I sat back and thought you have been a bit quiet lately. To me, her question was the same as asking, "where is Superman?" We're so use to seeing you commenting on financial matters and trying to lead those that have gone astray back in the right direction. We could all use your advice Mr. Trump. We're waiting on your next new book and to see you again on our nightly news. I've followed your advice and I have managed to stay in business and remain profitable while other businesses around me are crashing to the ground. I have a business that is more luxury items than items of necessity, so the times would have been challenging without having followed your advice. You've done the seemingly impossible in your business, so we are confident that you could lead the leaders of our nation and the rest of us in the general public, in the next seemingly impossible recovery of our nations economy. What do your say in helping us all out? We need a vocal leader and I am not too confident with the new people in our government.

Posted by Cheryle on 02/02/2009 9:38 AM

I agree that our American schools are failing to teach students the importance of having a well developed financial education. Everything we buy and sell requires understanding and the prudent use of income.

Global competition is increasing. Many countries are investing in state-of-the-art technology and students are learning at an alarmingly fast rate.

Americans cannot afford to rest on victories of the past. A reputation for being the Best requires maintenance, innovation and solid understanding of how business works. That means being able to use numbers, percentages and theories that show you the profit margin or loss.

Social opinions and blogs can only do so much to help our economy. Our government leaders need to take a closer look at the facts. Numbers don't lie and they don't support special interest groups unless the person entering the numbers is misinformed or financially unskilled.

For those of you who care to take a look at the real numbers you can study the Budget of the U.S.
Government Mid-Season Review Fiscal Year 2008.

BUBL LINK: United States economic data will also help explain where the taxpapyers money is really being spent.

Both of these should be studied and discussed in all of our schools. Maybe the non-voting children could educate their too busy parents and save the family some money so they can take vacations and do more fun stuff together.

Maybe they would be able to see the beauty of the Greek contributions to the world in person instead of having to read about it in a book.

Posted by member1750184 on 02/02/2009 12:57 PM

Finance should be a basic part of our public education system - just like reading, writing, math, and science. Economics should be have a greater emphasis in high school and college - it is now a basic element to understanding the world around us.

http://jessicabond.blogspot.com

Posted by member1918077 on 02/04/2009 11:58 AM

And now from the ancient Greeks:

Socrates: Dialectics leads to clarity and further depth and understanding.

Plato: It's about the Truth, the Good and the Beautiful. You can not have one without the others. Some
have the gift of Form and others willing to learn shall aquaint themselves and aspire to the
highest expression as well.

Aristotle: Ah yes the Virtues are an acquired art by repeated experiences of Excellence. You can
keep your head held high so long as you practice 'phronesis' (practical wisdom) and have
Courage to act Honourably (Canadian spelling) in the Community. All good things will acrue
to you with some Luck (Fortuna) of course.

Zarlenga: 'Lack of Imagination is No Excuse' copyrighted 2006. There is a lot more but it's waiting
publication.

By the way I am also a designer and have one of the most stunning highrise designs anywhere in existence. Contact me if you are so inspired. Your project is Dubai is great, however........

e-mail domeniczarlenga3@yahoo.ca for more.

Posted by Rachael Sutton #1253595 on 02/26/2009 11:42 AM

Hello Mr. Trump,
I just wanted to thank you for taking the time to communicate through the written word. There is wisdom there. I just finished my second book authored by you - There's No Such Thing As Overexposure.

This was just a thought. Of course, I am not trying to diminish what you have already done. The beauty in the buildings you have already created will be a legacy.

Please check KS

Posted by member1930692 on 03/05/2009 3:03 PM

Thank you so much Mr. Trump. You are an icon to humanity. I come from Ghana, in West Africa where we have so many limiting beliefs about money. Yet we complain when we don't have money. We leave on massive wealth yet we are poor and very religious forgetting that the good book tell us that money answers all things. I don't know what we will do as a nation if we were hit by this recession. This is why i personally think that learning from you is financial salvation. Yes it will take time to get there as i listen to the Greeks.

Andrew Annor Apo

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