In an Over-Communicated, Intrusive World, Simple is Better
Ed

Musings by Ed Bagley

 

On Tolerance:
The English writer G. K. Chesterton (1874-1936) once remarked that tolerance is the virtue of people who do not believe in anything; consequently, the have no standards by which to judge, which means they can be endlessly “ tolerant”. Within any given society or culture, the majority can, in fact, be wrong. Ergo, “Right is still right if nobody is right, and wrong is still wrong if everybody is wrong.” An act’s rightness or wrongness does not depend upon the number of its supporters. Acts that are popular or even laws passed by a legislature are not necessarily moral or ethical, not to mention fair.

On Your Potential:
It is possible that you are squandering your ability to develop your potential by spending too much time mooning over what is not right with your life rather than using that same energy to take action to achieve what you want to happen. To do so you must first decide who you are, what it is you want, and why you are here. Once you answer those questions for yourself, you will naturally gravitate toward becoming the person you are, you want to be, and what you are going to do with the rest of your life. Along the way, you will be feeding your passion rather than trying to discover your passion on an ever ending journey to despair.

On Personal Growth:
There is a huge difference between “professional growth” and “personal growth”. Do you know the difference? Virtually all successful people have professional growth. Professional growth is getting more education (a bachelor’s degree or an advanced degree), or successfully completing a training course in some specific skill (an apprentice carpenter becoming a journyman carpenter). Personal growth is totally different because personal growth requires you to change your thought process and belief system. Of every 100 people who could benefit from personal growth, only 10 at most would even attempt to develop personal growth, and, of those 10, only 1 will achieve personal growth because it is so difficult to achieve on your own without professional help of some kind. The one percent of people who achieve personal growth could be called “1 percenters”.
The 1 percenters may be 99% ahead of those who do nothing to change their thought process and belief system.

Clason’s “The Richest Man in Babylon” Part 2 – The 7 Cures for a Lean Wallet and The 5 Laws of Money

Copyright © 2007 Ed Bagley

Part 1 of this 2 Part series ends the synopsis of George Clason’s book “The Richest Man in Babylon,” but Clason raises an important question: Why should
so few men be able to acquire so much gold?

The answer is because they know how.

One may not condemn a man for succeeding because he knows how. Neither may one with justice take away from a man what he has fairly earned, to give to men of less ability.

And so it was that the good king of Babylon sought out the richest man in Babylon to teach to others in his kingdom the secrets of his success.

This is a synopsis of what the richest man taught to the people
of Babylon:

The Seven Cures for a Lean Wallet

1) Start your wallet to fattening. Save one-tenth of all you earn. Remember that a part
of all I earn is mine to keep. Do this faithfully. Do not let the simplicity of this escape you.

When I ceased to pay out more than nine-tenths of my earnings,
I got along just as well.
I was not shorter than before, and, money came to me more easily than before.

2) Control your expenses. How is it that all do not earn the same yet all have lean wallets? Here is the truth: That which each of us calls our “necessary expenses” will always grow to equal our incomes unless we protest to
the contrary.

Confuse not necessary expenses with desires. We all have more desires than our earnings can gratify. Examine which of the accepted expenses of living can be reduced or eliminated. Let your motto be 100% of appreciated value demanded for every dollar spent.

Budget your expenses so that your actual necessities are met without spending more than nine-tenths of your earnings.

3) Make your money multiply. Protect your growing treasure by putting it to labor and increasing. Money in your wallet earns nothing. Money that we earn from our money is but a start; it is the earnings generating earnings that builds fortunes.

When the richest man in Babylon loaned money to the shield maker to buy bronze, he said this: “Each time I loaned money to the shield maker, I loaned back also the rental he had paid me. Therefore not only did my capital increase, but its earnings likewise increased.”

4) Guard your money from loss. Everyone has an idea of how to make quick money; few, however, have the evidence of making money to justify their idea, scheme or offer of quick riches. The first sound principle of investment is security for your principal.

Before you loan your money to any man assure yourself of his ability to repay your loan, and of his reputation to do so. Make no one a present of your hard-earned treasure.

Consult the wisdom of those experienced in handling money for profit. Such advice is often freely given for
the asking, and may possess more value than the amount you
are about to invest.

5) Make your home a profitable investment. When you can set aside only nine-tenths of what you earn to live, and can use a part of that nine-tenths to improve the investment in your housing, do it; owning your own home is also an investment that grows with your wealth.

Your family deserves a home they can enjoy and call their own. It builds a sense of stability and well-being.

6) Ensure a future income. Build income-producing assets that do not require you to work forever. We will all grow old and die.

You should prepare a suitable income for the days to come when you are no longer younger and cannot work as hard, and to make preparations for your family should you no longer be with them to comfort and support them. Provide in advance for the needs of your growing age, and the protection of your family.

7) Increase your
ability to earn.
Desire precedes accomplishment, and the desire must be strong and definite. When you have backed your desire for saving $1,000 with the strength and purpose to secure it, you can then save $2,000.

Desires must be simple and definite. Desires defeat their own purpose when they are too many, too confusing, or too difficult to accomplish. Cultivate your own powers to study and become wiser, more skillful, and more productive.

Here is more sage advice from Clason’s masterpiece on financial matters:

The 5 Laws of Money

If you had to choose, would you choose tons of money or wisdom? Most men would take the money, ignore the wisdom, and waste the money. Here is the wisdom:

1) Money comes gladly and in increasing quantities to any man who will put aside not less than one-tenth of his earnings to create an estate for his future and the future of his family.

2) Money labors diligently and contently for the wise owner who finds for it profitable employment, multiplying unto itself in infinity if kept working diligently. Money multiplies itself in surprising fashion.

3) Money clings to
the protection of the cautious owner who invests it with the advice of men wise
in its handling.

4) Money slips away from the man who invests it in businesses or purposes that he is not familiar with, or which are not approved by those skilled in its keep. The inexperienced handler of money who trusts his own judgment, and puts his money in investments which he is not familiar, always pays with his money for his experience.

5) Money flees the man who would force it to impossible earnings, or who follows the alluring advice of tricksters and schemers, or who
trusts it to his own inexperience and romantic desires in investment.

Here is the hard lesson of the 5 Laws of Money: You cannot measure the value of wisdom in bags of money. Without wisdom, those who have it quickly lose money, but with wisdom, money can be secured by those who have it not.

This ends the condensation.

Copyright 2012 by Ed Bagley

(Ed’s Note: This story, written in 2012, identifies our current national debt as National Debt as $14,271,000,000,000 ($14 Trillion, 271 Billion). Our current national debt as of June 6, 2020 is $25,683,000,000,000 ($25 Trillion, 683 Billion) and counting. Eventually we will not be able to pay the interest on the national debt that is being created by fiat. Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.  In other words, fiat money is writing a dollar figure on a piece of paper (money) that is not secured by gold or any other asset.  Your government forgot to tell you that it has been in Chapter 7 bankruptcy for several years.)

The absolute best job in America today is a politician in the U. S. Congress.

Oh, they whine and complain a lot, but behind closed doors, they are as happy as a kid’s first visit to a candy store.

Members of Congress earn a salary of $174,000—that’s 3.4 times higher than the average full-time American worker, who earns $50,875 per year.

Even if you compare Members of Congress to more educated, private sector employees, they’re still doing pretty well—those Americans earn on average $83,000 per year according to the Bureau of Labor Statistics.

If you count the $110,000 in taxpayer-funded fringe benefits Members receive (including plush retirement plans, paid time off, and contributions to Social Security and Medicare taxes), they’re earning close to $285,000 per year.

Did you know that each Member of Congress in 2010 was also given $944,671 to set up their individual office in Washington, DC and their home district. How would you like an additional allowance of $944,000+ to do your work?

If you screw up on the job, you get fired. If a Member of Congress screws up, he or she gets to serve out their term in office. House members serve 2-year terms, Senate members serve 6-year terms. In some cases, you could—in effect—be a screw up for 6 years and get paid for doing so.

Did I mention that 47% of the Members in Congress are millionaires, with an estimated median net worth of $2.56 million. By comparison, only 1% of Americans are millionaires. Don’t tell me it doesn’t pay to be a Congressman.
 
But here in the United States, when it comes to being an overpaid federal employee, Members of Congress have plenty of company.

The average federal employee earns an annual salary almost 60% higher than the average private-sector employee — $79,000 vs. $50,000. Federal employees do have more education (on average) than private-sector workers. Their unions argue that this justifies their higher pay. But it doesn’t.

Even after controlling for education and experience, federal employees get paid significantly better — 22% more per hour, on average — than private-sector workers.

Members of Congress have also inadvertently raised “passing the buck” to an art form. There are 535 voting Members of Congress; the House of Representatives has 435 and the Senate has 100.

Should anyone question an individual member’s vote on any issue at any time, they can simply say, “Hey, I’m only 1 of 435 votes in the House” or “I’m only 1 of 100 votes in the Senate.” Hence, there is no real accountability or apparent responsibility.

I say this because the collective Members of Congress are incredibly irresponsible, especially in budget matters. Whether Democrat or Republican, they love to spend our money. Here’s how they do it:

Lesson # 1:

U.S. Tax Revenue: $2,170,000,000,000 ($2 Trillion, 170 Billion)

Federal Budget: $3,820,000,000,000 ($3 Trillion, 820 Billion)

New Debt: $ 1,650,000,000,000 ($1 Trillion, 650 Billion)

National Debt: $14,271,000,000,000 ($14 Trillion, 271 Billion)

Recent Budget Cuts: $ 38,500,000,000 ($38.5 Billion)

As an average citizen with a household budget, you know how damn stupid and irresponsible their behavior is. Here is why:

Let’s remove 8 zeros and pretend it’s a household budget to make it clear:

Annual family income: $21,700

Money the family spent: $38,200

New debt on the credit card: $16,500

Outstanding balance on the credit card: $142,710

Total household budget cuts: $385

And this is what has been happening for years, and it is now more out of control than ever.

Do you know of a credit card company that would let a family with an annual income of $21,700 run up a credit card debt of $142,710? Neither do I, but this is exactly what our representatives in Congress have done, and have gotten away with doing it.

They tax and spend our money like there is no tomorrow. In reality, they sell their votes for special interest money to get elected and re-elected, becoming a career politician.

It has become so bad that if a politician in Congress actually does something in the best interest of the county (rather than his or her own self best-interest), it is more by accident than design, and then they take credit in a fit of righteousness.

This has happened because you can never underestimate the stupidity of the American people. Think about it. We created the system that allows this kind of behavior, we freely elected the people in Congress who committed this behavior, and we appear ready to re-elect the same Members of Congress to keep doing what they are currently doing.

So don’t you dare complain when you are taxed to death, you lose more of your Constitutional freedoms, and you are told exactly what you can and cannot do in the near future, whether you like it or not. You will eventually be fined or prosecuted if you do not do as you are told by your representatives in Congress. They do, after all, make the laws that you must obey.

The Legality of
Roe v. Wade Screams
for Reconsideration

 

Copyright © 2021
by Ed Bagley

There are at least 61 million incidents of why the legitimacy of the landmark United States Supreme Court decision regarding Roe v. Wade in 1973 should be struck down and reversed.

The screams of the 61 million fetuses already killed were never heard as they were deliberately executed in the womb of the mother and, if surviving to actual birth, they were killed in the operating room before being blessed with the gift of life.

Think for a moment about what is happening in this process and the carnage it is creating in our society, and the eventual impact it is having on our hearts, minds and souls.

The victim in this process is not only the unborn child, but also the mother who permitted it to happen, the father who helped create the child, his or her brothers and sisters, their potential grandparents, all living relatives, and all future generations of children who will have lost a companion and what the unborn child might have meant to the advancement of mankind, peace and harmony among our fellow living inhabitants who currently benefit from the gift of life.

Please do not be confused about thinking that life is not a gift. Life is a perfect gift that we cannot create on our own. Science has given us a better understanding and appreciation for the world we live in, but science cannot give us a living, breathing child. It is not only foolish but ignorant to think that we can plant a seed in the ground and a child will eventually arise from the soil.

Scientists cannot create sperm and an egg from nothing and produce a child. Without sperm and an egg, scientists are dead in the water before they ever start on the process involved.

While it is a generally accepted idea in civilized societies that killing someone is unacceptable if we are to coexist together; the chilling practice of Roe v. Wade allows a mother to kill her child rather than carry the child to term, let the child live, and raise the child as a mother. Citizens who murder another person after birth, who get caught and are tried in court and convicted, serve time in jail for their punishment. Roe v. Wade makes the deliberate killing of a child by abortion legal.

Roe v. Wade became a landmark decision when
7 of the 9 Justices at the United States Supreme Court created a majority decision to enact Roe v. Wade into law.

It is important to note that the governmental system of the United States of America is not a pure democracy—that is, rule by majority vote of its citizens who are registered to vote and vote during legal elections—but rather a constitutional system governed by the rule of law. The Constitution of the United States is the glue that holds the fabric of our system together with the help of the Bill of Rights, providing freedom and equality to its citizens who adhere to the laws of the land. Our judicial system provides the mechanism to make it work. At the top of our system of justice is the United States Supreme Court.

In the case of Roe v. Wade, 7 of the 9 Justices ruled that the Due Process Clause of the Fourteenth Amendment to the U. S. Constitution provided a “right to privacy” that protected a pregnant woman’s right to choose whether or not to have an abortion, and therein lies the rub.

The Fourteenth Amendment to the U. S. Constitution granted citizenship and equal civil and legal rights to African Americans and slaves who had been emancipated after the American Civil War, and included three major provisions: The Citizenship Clause, granting citizenship to “all persons born or naturalized in the United States”, the Due Process Clause declaring that states may not deny any person “life, liberty or property” without Due Process of Law.

The 7 Justices that went along with this idea included Chief Justice Warren Burger, and Associate Justices Harry Blackmun, William Douglas, William Brennan Jr., Potter Stewart, Thurgood Marshall and Lewis Powell. The 2 dissenting Justices included William Rehnquist and Byron White.

The result of what the 7 concurring Justices were saying implied that women have more rights than an unborn child, more rights than men, husbands, parents, grandparents, and all living relatives. And, that women not only have more rights, but also have more special rights than anyone else on the face of the Earth. And, of course, that an unborn child in the mother’s womb has no rights whatsoever; that the unborn child can be killed at will by a decision of the mother without any other consideration whatsoever for the welfare of the child.

Therefore, what the father, brothers, sisters, parents, grandparents or any other living relative might think merits no consideration whatsoever.

No one, of course, is even asking what God might think. If you have no spiritual development whatsoever, you could care less. You may even think there is no such thing as a God, and that we humans are in a long line of evolution descending from apes, who some scientists have determined have 96 percent of the same genes as humans.

And, and what? These are the same scientists who, if asked to create a tree from scratch, with no seed already in existence to plant, could not create a tree from scratch on their best day as a scientist, or if their life depended upon it.

Saint Teresa of Calcutta was probably not the first person to point out that  “every perfect gift comes from God”. God, in the Christian faith, and more especially the Catholic faith, includes the Trinity: God the Father, Jesus the Christ and the Holy Spirit, the Lord and giver of life.

Science and human nature aside, what does God have to say about killing? One of the Ten Commandments says: “Thou shall not kill”.  The commandment cannot be said simpler with the same meaning.

This Commandment of God does not hedge. It does not say, “Thou shall not kill, except for unborn babies”.  The gift of life is a perfect gift from God. In life, we can be faced with an enemy trying to kill us, and we kill so we, or our family, will not be killed. To be certain, killing is never a positive activity. Only sorrow comes from killing; the victim will likely leave behind a spouse, children, parents, grandparents, or a partner on the battlefield.

Why a majority of Supreme Court Justices would think that killing an unborn, defenseless fetus in the womb who will, without hindering, become a live, breathing human being at birth, is beyond common sense, not to mention an offense against humanity and the sanctity of life. It could be noted that, at the time of the Roe v. Wade decision, all the Supreme Court Justices were men.

Do mothers, who decide to kill their baby, realize and appreciate the fact that they would not be alive to reproduce if their mother decided to abort them?

No one in a polite, educated society wants to hear about killing babies. People who believe abortion is a personal right of a woman lay away nights trying to describe the process in more acceptable terms, such as: reproductive freedom, a woman’s right to control her own body, terminating a pregnancy, freedom of choice, a woman’s own private medical decision, a procedure, access to health care, family planning, and choice; anything but the raw truth: killing, which does not make it any less permanent for the unborn child and victim.

Those who would deny or doubt the existence of God are in a long of people who are “pro choice” rather than “pro life’. It would almost be impossible to calculate the arrogance and self-righteousness of women and organizations that promote abortion. Only God has an accurate take on that.

Without spiritual development and belief in God, it is hard to appreciate and understand God’s three greatest gifts for us; 1) The gift of life, 2) The gift of free will to do as we please, and 3) The gift of faith.

We could be reminded that God is not pleased about killing unborn babies, primarily because He is the creator of the life we enjoy.

For women who decide that abortion is an answer to whatever issues they feel will complicate their life, there is forgiveness when they experience remorse over their action. God is a forgiving God, and a woman who is remorseful over her decision to abort her child will be forgiven by God if she recognizes her wrongdoing and asks God for forgiveness.

God is a merciful God and understands that no human in His creation is without sin. All humans are sinners because we are not God. The good news is that we can be forgiven when we experience remorse, and ask God for forgiveness.

It is interesting to note that only 1 in 50 babies born worldwide are born in a free country that is the United States of America. There is no other county with another system of government—like socialism, democratic socialism, communism, fascism or any other ism or dictatorship—more free and offering more opportunity to succeed than the United States of America.

It is a shame that we can kill 61+ million unborn babies and claim to think we are as humane as we think we are. We are not that humane, but neither is any other country on the face of the Earth. We could do better, and we could start by reversing Roe v. Wade.

Financial Thoughts
on Investing
by Warren Buffett

 

(Ed’s Note: The following condensation is from The Tao of Warren Buffett, written by Mary Buffett and David Clark and available for sale at Amazon and bookstores nationwide. I am always impressed by what Warren Buffett has to say and am doing this condensation to help promote their book.)

On Investing: Never be afraid to ask too much when selling offer too little when buying.
(Ed’s Note: How much you get from a sale or how much you have to pay when making a purchase determines whether you make or lose money and how rich you ultimately become.)

(Ed’s Note: For more of Warren Buffett’s advice go to the menu bar above and click on Financial Thoughts.)