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Three Tips to Keep Your Wits About You

Posted By gary_bonner On 10/02/2008 @ 8:15 am In Personal Finance | No Comments

This is a post by Gary Bonner [3], a regular contributor on Blueprint for Financial Prosperity.

We all are confronted with doubts about the future that we have all been working so hard to ensure. Suddenly many forward looking people are caught in the reality of today and are both frustrated and depressed by the crisis in the financial markets. Everyone is buzzing “what are we going to do?” and “this is the way I want it.” We will learn that everyone will have to walk away less than satisfied to realistically find our way through.

We have an avalanche of information to absorb. Some leads to clarity, more often it leads to confusion. Over the next few days and weeks I offer 3 simple points to keep in mind as we ride through the storm:

On the Present Crisis

From Rod Dreher [4],a Dallas Morning News editorial columnist, printed at Real Clear Politics:

“We’ve come to prefer comforting lies to hard truths born of observation and experience, thinking that in our brilliance we had somehow escaped the iron law of necessity. Rudyard Kipling satirized this arrogance nearly a century ago in his poem, ‘The Gods of the Copybook Headings’ (a copybook was a primer in which British schoolchildren learned handwriting by copying familiar proverbs).

Here’s a verse rather relevant to the current moment:

Then the Gods of the Market tumbled, and their smooth-tongued wizards withdrew,
And the hearts of the meanest were humbled and began to believe it was true
That All is not Gold that Glitters, and Two and Two make Four
And the Gods of the Copybook Headings limped up to explain it once more

On politics and elections

“A democracy cannot exist as a permanent form of government. It can exist only until the voters discover they can vote themselves largess out of the public treasury.

From that moment on, the majority always votes for the candidate promising the most benefits from the public treasury, with the result that democracy always collapses over a loose fiscal policy, always to be followed by a dictatorship.”

… Attributed to Alexander Fraser Tytler, Professor of History, College of Edinburgh, Scotland (but that’s been disputed [5]).

On how to conduct our daily lives:

God grant me the serenity
to accept the things I cannot change;
courage to change the things I can;
and wisdom to know the difference.

The Serenity Prayer [6]


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[2] Email: mailto:?subject=http://www.bargaineering.com/articles/three-tips-to-keep-your-wits-about-you.html

[3] Gary Bonner: http://www.bargaineering.com/articles/about-gary-bonner

[4] Rod Dreher: http://www.realclearpolitics.com/articles/2008/09/and_it_was_written_our_blame.html

[5] disputed: http://www.lorencollins.net/tytler.html

[6] The Serenity Prayer: http://www.cptryon.org/prayer/special/serenity.html

Thank you for reading!