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Defend and Grow Your Capital

Your capital is under attack and you need to protect it. The attacks come, as they always have in two forms: direct taxation and inflation. Now most people can easily think in terms of financial capital, the kind of capital that is important to individuals. We don't always admit it but having more financial capital is what much of our daily activity is aimed at. It's easy to see when someone is trying to just take money from us and not that big a leap to see when our government takes more of our capital by raising taxes but it's more abstract to see how our capital gets attacked by inflation. Even then, most people can feel the pinch of inflation when prices of things they need go up for no apparent reason. We think, "my dollars don't go as far as they used to" or "it takes more to live the way I want to live".

 

Another attack on your capital is underway in our national capital, Washington D.C. We know that the ideas have changed, that there's a sort of intellectual or cultural attack that's been occurring for decades. Academics, bureaucrats and especially power hungry politicians have been attacking our capital for decades. We watch these people who generally have no clear understanding of government's proper role nor of the constitution they swear to defend. Think about how often people who want to go to Washington to represent you deride "Washington" itself. Why do they do this? They capitalize on you knowing there is something wrong there but not being able to truly identify the source of what is actually wrong. It's simply a tragedy that we now use the term "Washington" to refer to incompetence at best and something ugly, corrupt and malicious at worst. Our capital's name, obviously comes from the respect and admiration we had for our first president, a man who was in spirit and in action quite the opposite of these derisive terms. The general, farmer, statesman and president George Washington embodied character, leadership, strength and honesty. Of course, there are those who claim that this is all a myth, that Washington, like all the founders, was a fallible human being and they go on to list his supposed flaws. Well, Washington is under attack - both Washington the man and Washington, DC our capital.

So what can you do about it?

Top 10 Ways...

Creating, maintaining and growing capital is what capitalism is all about. Defend it through stewardship, discipline and self expression.

10)     Live.  Live in Gratitude for what you have and are right now.

9)      Accept that all progress starts with the truth.

8)      Understand the basics:  production precedes consumption, no entitlements, must trade value for value, the creative human mind is the source of all wealth. Be a Learning Machine.

7)      Develop a good filter, prioritize who you spend time with, what you think about and what you spend your money on.

6)      Spend less than you earn.

5)      Think long term and use compounding.

4)      Diversify when you don't know, concentrate when you do.

3)      Know, avoid and capitalize on the enemies of wealth:  yourself (guilt, fear and bias), looters (taxation), moochers (inflation).

2)      Advocate for reason, individual rights and freedom.  Do not fund and    nurture your enemies.

1)      Live.  Live, enjoy and share your wealth.

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