On Wednesday I was interviewed by Neil Cavuto and we discussed issues pertaining to the economy. I said that things seemed to be looking better, and that very importantly, people seemed to be confident that the economy is improving. Considering the situation awhile back, there are indications that the market is coming back and along with that we see confidence returning. That’s a very good sign in itself.
Neil asked me what I thought about the idea of raising taxes. I think that’s a dangerous thing to do. This is a fragile time, we have a delicate economy and it wouldn’t take much to upset the barrel.
He also asked if I was embarrassed to be rich at this point in time. I said no, that I’m proud of it and for good reasons: I create jobs--many thousands of them--and I can afford to be generous with charities at a time when they need it the most. It’s a good feeling.
I’ll feel better, however, when the economy is back to where everyone can feel good. That should be happening before too long.
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20 Comments
http://www.hotelsmag.com/articleXML/LN1006897999,html
I agree with you, and believe that Michigan is an example of what happens when business faces extra expenses such as taxes and excess fuel costs for heat, zoning restrictions and anything else that complicates the ability to start and run a profitable business.
I salute anyone who is working to turn that situation around - whether by running successful businesses that employ people, or by providing education and mentoring for others to do this, or by advising those who are in positions to make improvements to the economy, or by contributing to the quality of life by improving the buildings, housing and infrastructure for businesses to thrive - all of which you do. If you profit from those things, legitimately, then you certainly should feel good about the accomplishments. The only shame would be in failing to do your best.
Our economy still has a long way to go, and I believe we all have some serious restructuring to do at almost every level. The more accountable and capable our citizens, the less cost to our government. The more successful our citizens become, the easier it is to contribute to community and country. One really good thing that resulted from the depression was hunger. We need to awaken the hunger and replace the complacency that comes from easy existence. That is one thing I always appreciated from immigrants was the enthusiasm they show in accepting any job they can get, and saving for that house, furniture and car, and living the American dream. We all need to follow your advice and dream bigger.
OPPORTUNITY BROUGHT OPPORTUNITY GIVEN
Do u believe that when things become tougher, people tend to go to what they tend not to see, which is each other. They start working together to make a difference. One person can only do so much, but when you start working together, differences can be made.
Do you think your success was from your own self, or do you think your success was because of working together. Opportunity was opened to you so you could open doors of opportunity.
Does this make sense?
Ryan K
http://enjoywealthandhappiness.blogspot.com
President Obama and the U.S.A. economic recovery plan. We are not sure if anything has significantly changed for the better.
He was halfway right in getting Americans back on their feet with good paying jobs. Or any type of job motivations. There are a lot of U.S. states that are still in debt and having huge unemployment issues.
Where did President Obama go...halfway around the world shoring up relations, creating tensions.
& failed to introduce free commerce trade with our country to help America overcome unemployment issues. Additionally, not much stimulus for other industry and business enterprises to help get America back on their feet and hire people. A huge mistake.
Not sure on America yet...
Something Special...and only in America...why?
I believe you Mr Trump. You are the right person who knows exactly when the times are changing better and I admire again your strong self-confidence and trust to your ability to get through these hard financial times. It is not self-love but it is warm love to help those people who do not have as much as you have, it is really admirable.
Times are getting better little by little and we must believe hard to that. I am thinking nowadays how I could get advance from this financial crisis and what would be the main article that people are going to have or by after this crisis. That article would be the success. Is it a new home or what?
Hi everybody: This is a correction to my previous comment if you read it. In my quote on the beauty of wisdom and her many wonderful attributes and gifts, I inaccurately put Psalm 3:13-16. I should have correctly put "PROVERBS 3:13-16." Psalm 3:13-16 does not exist in the Bible. Check this out for yourself. Whether biblical or not, always check out the sources of information that you are given. Always. Or you will be, or remain, deceived. And remember what this disastrous economy has revealed and why it is upon us. And that lesson is that there are multiple thousands of deceivers with Ph.D. and MBA degrees in business (and religion) saying and doing the same dumb, stupid things. Trust no one.
So be diligent in your research and learn to go with your gut as the Donald says. It may be tedious at first, but this habit of always investigating your sources of information will save you millions of dollars. And it will also save your life.
Sincerely, your friend, Nimrod
Also the government stimulus may cause problems due the fed buying treasuries which could be inflationary. In addition, higher interest rates could occur if the economy experiences another downturn as the US consumer diminishes in world trade importance and foreign central banks reduce thier purchases of more US debt.
I had read that the lag from the Fed buying treasuries to increased inflation is typically about 3.5 years, which seems reasonable since that is sufficient time after redemptions occur and more dollars are being injected into the economy.
That being said, this is a free country with a great spirit and sufficient ambitiion to creat wealth. When pressed, the USA has come through in the past and we are in enough ways better than before.
All the best to everyone! Go for it! :)
I would like to hear your opinion on how the "Surcharges" on you and other small business owners are going to affect the country as a whole.
Thank you,
Bill
I am currently researching a topic for my English class and came across this blog. I feel when people write they tend to show something of themselves regardless of the topic. I have heard of Donald Trump and understand his status, and reading the comments people have posted, regardless of what it is, there is a very real undertone of hero worship, trying desperately to impress and wanting to be noticed. I certainly don't want to offend anyone but I am really curious what effect that has on a person. Can you really be in touch with reality when everyone around you only wants to please you and I feel from the vibe of the writing would never disagree. Quite curious, and even wonder how this comment is interpreted. Will I be dismissed as someone without intelligence? Someone just trying to be smart, I am really just curious. Or will this just be binned by unknown persons for the possible reasons I have inquired about?
Kind Regards,
Christine Monk. (Australia)
In the past year I have witnessed the closing of many retail businesses that looked solid a couple of years ago. It is surprising to see 90% of retail space sitting empty in a once thriving mall.
Raising taxes? Why doesn't the public demand that the government do the work for which it is already paid? When I read my statements and receipts at the end of the month, I am appalled at the taxes that are being paid on items including sterile plastic strips to protect the "boo-boos", cuts and scrapes before going to the local emergency room.
Our taxes are out of control and serious attention needs to be paid to balancing them. It's not that our country isn't making enough money, we are. It's the government who isn't spending it wisely.
The more power we put into the hands of the unknowing, the more pain we can expect at check-out time.
John,
http://www.canadabanks.net/Mortgages.aspx
For more info visit: http://personalmoneystore.com/moneyblog/2009/07/15/people/
You should educate yourself as to what your friend Robert Prechter is saying at this point in time, and the reasons he has for saying it, regarding the future of the economy.
As to the "embarrassed to be rich" question, I recently visited a Trump property, and what I saw was a lot of people working. They were friendly people, people who seemed content in their jobs, people working together while supporting themselves and their families and providing entertainment or an opportunity to relax to other people. People providing other people with a safe, clean, comfortable place to stay; good-tasting, quality food. To be able to do all that and then have money to give to the people who can't afford to stay there -- wow.
Great thoughts, great blog
You need more contributors so there are new posts daily.
KeyS
I always enjoy your economic pieces.
May you and yours continue to thrive and prosper.
"Happy is the man that findeth wisdom, and the man that getteth understanding. (14). For the merchandise of it is better than the merchandise of silver, and the gain thereof than fine gold. (15) She is more precious than rubies: and all the things thou canst desire are not to be compared unto her. (16) Length of days is in her right hand; and in her left hand riches and honour." Proverbs 3:13-16.
(I had mistakenly put Psalm 3:13-16 the first time I sent this comment. I apologized for this error in my above second comment. But this first comment was not posted, possibly due to transmission difficulties. Psalm 3:13-16 does not exist in the Bible. Check it out).
Obviously, Donald, wisdom is your type of woman, and she certainly is my type of woman. She is a very rare and sought after companion, friend and wife. Riches and honour are a badge of honour and certainly nothing for you to be embarrassed about. Honour (respect and reputation) is the key word. The truly rich, like yourself and your family, evidently have an abundance of honour as well as riches to be able to survive in these tough times. Trump University is a medal of honour.
I find that the economy is improving for the "dishonorable" at the moment. It seems that the banks and financial institutions who caused this world-wide mess in the first place are reaping great profits from our tax bail-outs of them. From my point of view, I am hoping that this "wealth of the wicked" will have a down-pouring, inundating, "share the wealth" effect on us, the masses; by the wicked ones self-regulating their enormous greed and through massive job creation. Because if one thing has shown itself to be true it is that "the love of money is the root of all evil" (1 Tim. 6:10). Money is great, fabulous, desirable stuff. The more money I obtain, the happier I am. And I am a very happy man. A blessed entrepreneur.
However, when money is loved more than our fellow man and woman, when profits are put before and above we the people, and when those in power sell their soul, the world gets what we have today. Recession. Depression. It never fails. Bernie Madoff is small fish compared to those people in multi-national businesses, financial institutions and politics who should be in prison for life, right below him, for far worse crimes against we the people of America and the world. Multi-trillion dollar crimes that they are still slyly committing! What ever happened to the antitrust laws which were meant to prevent these present "to big to let fail" situations?
1 Timothy 6:10 "The love of money is the root of all evil" is the best business advice in the world, as everyone, including the "poor," should now see and obey. Stray from this "prime business rule" again and the world will not recover (if it is now truly recovering) because the world economies will be even more connected and delicate. Man must protect himself from his greedy stupid self, with wisdom, if he wants to fully and completely recover and maintain his recovery. But many people, in very high places, think ignorantly that "greed is good." But greed is not good. Greed is an insatiable, unquenchable, blinding trap. Excellent, brilliant, superb, focused and thoughtful management and "customer service" is superior, good and everlasting insurance. It is first-class business insurance against the ruling greedy anti-antitrust, untrustworthy gangsters.
I do not yet consider our hard working, empathetic, mentally acute President, Barack Obama, a gangster. So far he has shown himself to be an extremely healthy, energetic and an exceptionally intelligent man with a vision to do and get things done which should have already been done.
Sincerely, your friend, Dr. Nimrod (Gen. 10:8-10)
The fear was about uncertainty and about the unknown bottom and potential further loss.
Based on comparison, it was the worst since the great depression.
The bare necessities of yesterday suddenly became luxuries of today.
We all had to wake up and take a hard look at the comforts we once took for granted.
Pride became a word of the past whereas egos have been bruised and humbled. 'Going green' became a rich man's excuse for going broke.
I watched the movie HOME and it stretched my mind yet again...claiming that the reason for human life was merely due to blue green algae forming oxygen in the atmosphere allowing our breath of life.
My faith began to fade alongside candles lit and prayers petitioned to the Almighty One asking for mercy.
So without a God, would it change the way I did business? Would I become more ruthless and opt for a survivor of the fittest each man for himself primitive mindset?
And then the Dow was up to 9,000 and overnight, the hope returned.
Hope is the most important tool in any financial society.
It fuels mankind.
It is more valuable than oil and gold.
Throughout the dark, we lost hope.
The cheerleaders of pure hope need to get on that field and rally the team.
My favorite motto is KEEP ON TRUCKING!
And if your truck is repoed, KEEP ON WALKING!