Spend Wisely
For most families, drawing up a budget is old fashioned and not something to be appreciated in the light of conventional wisdom of Pay As You Go, ATM’S, and living by faith. But truth is truth, having a budget whether it is an individual, a family, or as an organization, helps you to curb over-spending. It is also a sign of faith in your future. When you believe in your future, you plan for it financially. One of the ways to strategically plan for your future is to have a budget.
Wisdom demands that even in times like this you plan your spending.
You cannot be productive every season of your life. A wise person saves up during the productive season for the season where they are not so productive. You make provision for the next season with the blessings of the current season. Budgeting helps you save up for a rainy day. It doesn’t matter how much you are earning; your needs will always rise to the level of your income unless you do something to curtail your spending.
Warren Buffet one of the wisest investors of our time with millions of dollars to show for it, has this to say about spending: ***“If you buy things you don’t need, soon you will have to sell things you need.”*** On savings he said: ***“Do not save what is left after spending but spend what is left after saving.”***
It doesn’t matter if the money that is coming in is in trickles, learn to save and avoid overspending. You don’t manage big to grow big; you manage small to grow big. What this means is that it is little by little that becomes big, so if you despise the little you are currently making by overspending, you may never see big.
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Free Market vs Market Interventionist
There are various schools of thought in business, finance, and politics. Some people believe in free markets as a self-correcting mechanism, while others believe that market intervention is a better pursuit. Each of these ideas can be taken to the extreme — free market believers become anarchists and market interventionists become communists.
Extremism in either direction has historically led to magnified problems in a society, so we’ll refrain from including those in this analysis. If we simply evaluate market intervention vs free markets, I believe we are beginning to see a recurring theme in the digital economy.
First, the federal minimum wage in the United States is $7.25 and hasn’t changed since July 2009. Each state has their own minimum wage requirements as well, which range from no minimum wage (Mississippi, South Carolina, Tennessee, Louisiana) to $5.15 (Georgia) to $15 an hour (California and New York). Barring California and New York, which only require $15 an hour for a small selection of businesses in their state, there are no states that have successfully achieved the $15 per hour minimum wage that is constantly floated by politicians on the campaign trail. https://mlmguruankur.slrcdn.com/track/click?linkData=1-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
This is noteworthy because numerous studies highlight that approximately 80% of American workers are now paid at least $15 an hour. Andrew Van Dam and Heather Long from the Washington Post explained last August: https://mlmguruankur.slrcdn.com/track/click?linkData=1-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
*“The U.S. labor market hit a new milestone recently: For the first time, average pay in restaurants and supermarkets climbed above $15 an hour. Wages have been rising rapidly as the economy reopens and businesses struggle to hire enough workers. Some of the biggest gains have gone to workers in some of the lowest-paying industries.*
*Overall, nearly 80 percent of U.S. workers now earn at least $15 an hour, up from 60 percent in 2014. Job sites and recruiting firms say many job seekers won’t even consider jobs that pay less than $15 anymore. For years, low-paid workers fought to make at least that much. Now it has effectively become the new baseline.”*
So the politicians and regulators, who are acting as market interventionists, have been unsuccessful in achieving a $15 minimum wage at the federal or state level. At the same time, the free market has already driven the effective minimum wage for workers past that milestone. This is a classic example of the free market driving results while the market interventionists are bogged down in bureaucracy and politics.
Another example of this comparison is in the accredited investor rules within the United States. Currently, only investors that meet specific wealth and income milestones are eligible to invest in private market opportunities. These opportunities traditionally fall in the private equity or venture capital bucket, but can include real estate or debt offerings in certain instances as well.
Many people in positions of power and influence have discussed evolving these rules to allow more individuals to participate in these investment opportunities. Ideas have ranged from a knowledge-based test to lower wealth and income level requirements.
While the regulatory and political apparatus continues to discuss potential solutions, the free market has found a unique solution. Bitcoin was launched as a decentralized asset that was rooted in open source software. There was no need to adhere to securities law because there was no team or individual that personally benefitted from the creation, launch, and scaling of the asset.
While the asset failed to meet the securities framework, it provided the single best investment return over the last decade. These venture capital style returns meant that anyone in the world with an internet connection, regardless of wealth or income, finally had the opportunity to capture private market returns. The free market figured out how to democratize access to investment opportunities without the need to wait for the market interventionists to create the solution.
It would be difficult for every asset in the private market to become a decentralized, open source software solution, so there are still challenges in the market, especially when you evaluate this solution for its ability to be replicated. With that said, the free market still was able to create a solution that addressed one of the hardest problems to solve in financial markets.
These two examples show that the free market has the potential to create solutions before the market interventionists. It isn’t a guarantee and there are still questions about which approach can create the solution faster, but it is hard to ignore the efficacy of free markets in the digital economy. When you overlay the complexity across jurisdictions and geographies, the free market may actually be a better governor of the various aspects in this new world.
Humans always want to feel like they’re doing something. They are solving problems. They are addressing bad situations. They are constantly in control. But the truth is that sometimes the free market outperforms humans, which is worth celebrating.
How Do Young People View Bitcoin?
How Do Young People View Bitcoin
Hello, dear friends on the write and post platform, it is a pleasure coming your way on this blog, hope I meet you well.
As a young person, I have had my own though on the question of how young people view bitcoin. Before now I use to think that bitcoin issues should be for only the educated and wealthy like politicians, business expert, investors, as well as other top cadre in the society. But as years passed by, my thought and opinion changed due to the developments around bitcoin.
I do most times tried to sample opinion to see if other young ones have a different view, and just yesterday I came across this conversation which Anthony Pompliano had with Dylan LeClair of Bitcoin Magazine, enjoy the excerpt:
I had a conversation with Bitcoin Magazine’s Dylan LeClair yesterday on The Best Business Show. He is an intelligent and optimistic 20-year old who recently dropped out of college to focus full-time on bitcoin. Majority of Dylan’s time is spent creating analysis around the digital currency and the macro economy.
During the conversation, I asked Dylan about his personal portfolio.
The insights he shared were surprising. First, he is “more than 100%” allocated to bitcoin. He not only has his entire liquid portfolio allocated to bitcoin, but he also took out a number of 0% interest rate credit cards last year to help him buy even more of the asset during the volatility of the pandemic.
This sounds insane to most people. It probably is. But it highlights a level of courage and conviction that is uncommon in financial markets. It goes without saying, but there is a big difference between a 20-year old with no house, car, wife, or children doing this compared to someone who is older and has more responsibilities.
The second thing that Dylan said was he compares every investment opportunity to bitcoin. Bitcoin is his reserve asset. Rather than measure profits and losses against the US dollar, he chooses to use bitcoin as the benchmark. This makes majority of the stock market, bond market, currencies, and commodities look ridiculously unattractive. Almost all of them have crashed substantially against bitcoin in the last 1, 3, 5, and 10 years.
On this note, Dylan highlighted the fact that a contributing factor to his decision to drop out of college was the constant exposure to his finance and economics professors. They were still teaching antiquated economic and monetary ideas that have been disproven by the market, while completely dismissing the new technologies or updated data sets. This specific comment made me think more critically about what is happening right now — the legacy system is built on a mental framework that is still taught in economic classes, yet the new world is built on a completely different set of assumptions and frameworks.
Maybe the legacy frameworks are right. Maybe the new ones are right. The market will ultimately decide. But it is important to understand that the difference is not only playing out in various assets in the market, but it goes deep enough to see diabolically opposed schools of thoughts. In some way, you can think of this as the Keynesians vs the Austrians.
Lastly, Dylan said a number of times that his main focus was “stacking sats.” This may seem like some new age vernacular, but it is a great adherence to one of the most timeless investing principles in the world — buy a great asset and hold it forever.
This is true for Warren Buffett and this is true for a new generation of young people who are studying the decentralized, digital currency.
They may use different words, but they are emulating each other’s investment strategies.
Overall, my conversation with Dylan was interesting because it reminded me that young people are growing up in a world that is different from the world that my parents and grandparents lived in.
The assets are different. The monetary policies are different. So naturally, the investment strategies are different. You can no longer save your way to wealth and financial security. You must learn to invest.
And young people like Dylan LeClair are choosing bitcoin as their reserve asset.
Wild, yet encouraging, to watch. Have a great day.
This conversation really got me thinking. One of the thing that strike me is when he said that:
a contributing factor to his decision to drop out of college was the constant exposure to his finance and economics professors. They were still teaching antiquated economic and monetary ideas that have been disproven by the market, while completely dismissing the new technologies or updated data sets.
I beg to agree with this young man because most of us were bombarded with these antiquated theories which as a result makes us to be blind to the new technologies that has come to stay. Thank God, I have break free from that defence I found myself and now thinking outside the box. I now embrace bitcoin with full effort.
If you ask me, I will say that 'Young People View Bitcoin Uniquely'.
If you are a young person, do you view it in a different dimension? Hit the comment box and let us hear your view.
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Albert Einstein's Wife
Re: Albert Einstein's Wife
Greetings to you all dear on this platform. It is my delight to share with you guys this piece. I hope you will read along and make your contributions.
History have recorded great intellects in different areas of endeavour or works of life, some of this once have contributed immensely to life' well-being. This great individuals need to be honoured accordingly. Let me share the excerpt of the piece of my finding on Albert Einstein's Wife.
Sampling the opinions of people, some say she was as brilliant as Einstein, if not better. But wait a moment, what happened to her? Is anything the matter? Yes!
Do we all know and still remember Marie Currie? She was the first woman in history to win a Nobel Prize. The first person and only woman in history to win it twice as well as the only person to win a Nobel Prize in two different sciences, physics and chemistry.
Mileva Marić-Einstein
Mileva Marić-Einstein was Albert Einstein's wife. Records had it that she was the only woman in the Physics Department at Zurich Polytechnic where Albert Einstein studied.
In fact, she was the only person to score higher than Einstein in Mathematics at the entrance exam. Such was her brilliance.
Now the question is; what was the difference between these two brilliant women? Why did one go down in history as a great scientist with two Nobel Prize to her honour and the other as just Albert Einstein's wife? The simple answer is:
**Their husbands!**
Albert Einstein got married to Mileva Marić-Einstein and she helped him in the writing of some of the most outstanding and profound papers that changed the narrative of science but surprisingly Einstein never deem it fit to cite her in his works.
But Maria Curie married Pierre Curie; a gentleman who understood what partnership is.
In 1903 the Nobel Prize committee wrote to Pierre Curie and informing him that he had won the Nobel Prize and stand to be honoured, Pierre in his reply asked them if his wife was also going to be honored, to his surprise he was told that only him and Henri Becquerel would be honored.
Pierre wrote the Nobel Prize committee and acknowledge the honor but reject it on the ground that his wife would not be honored.
According to him, he said the papers had a heavy input from his wife. The committee yielded to it and that led to Maric Currie becoming the first woman to win a Nobel Prize.
Albert Einstein on the other hand was rather too consumed with his personal recognition that he didn't even consider to put Marie's name on his publications. This actions would later of course, cause controversy in the scientific world, even till today, there are debates on Maric's contributions.
Therefore, the right marriage will reinforce your legacy. The wrong marriage will diminish it.
Make sure your partner is your partner in the real and true sense of the word; someone who recognizes your contributions and will rather turn down a Nobel Prize than be honored without you.
Years later, Irene Joliot Curie, the eldest daughter of Pierre and Marie Curie; with her husband, Frédéric Joliot in 1935 became joint winners of the Nobel Prize in Chemistry; 32 years after which Pierre and Maric did it together in the year 1903. She too married a supportive partner.
Can you be said to be a supportive husband or wife? Never underestimate the power of a mate.
Organic And Inorganic Produce
Organic Foods
Organic are food or food products, grown in an environment that is free from artificial agricultural chemicals. That is the foods or food items are produced using processes without any synthetics such as chemical fertilizers and other pesticides. Since organic foods are not genetically modified they do not contain any chemical food additives or solvents.
Organic refers to both the food itself and the food production process used to produce the finished food product.
**Inorganic Foods**
Inorganic Foods are the food or food products that the use of synthetics is applied during the production process. These addictive synthetics includes chemical fertilizers and pesticides.
Sometimes, producers can also modify inorganic food items at a molecular or genetic level for the purpose of cross-breeding crops in order to produce hardier strains with higher quantities.
In my next post I will talk about the advantages and disadvantages of the produce.
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The dream of a better world.
Perhaps you may be among the group that paint a wonderful picture of a better new world in their imagination. But wait a minutes, what could be wrong with our present world? I guest you know the answer!
Early Morning Digest
**EARLY MORNING DIGEST**:
**WEALTH** **MORNING**
Do you know that the One who **CREATES** the opportunity is ***BRILLIANT***?.
THE One who **GETS** the opportunity is **SMART**.
THE One who **CAPITALIZES** on the opportunity is the **WINNER**.
Money is a seed , Don't eat all your seeds, Plant some of those seeds and invest it in **CRYPTO** when they mature, eat from your harvest and repeat the process But never eat your seeds.
Wealth is not a jackpot, you don't wake up one morning and meet wealth, rather, you deliberately plant it , water it and wait for it to grow.
Then remember to always repeat the process for it to continue to flow.
**Poverty** Is Like A **Virus/Muster**. If Nothing Is Done About It, It Spreads To The Next **Generation.**
**CRYSTAL MORNING TO ALL ACHIEVERS AND HAPPY WEEKEND**
@KingsleyP.
