how to cope?greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Basic Economics 101 - Y2K
I detect from the posts there may be some who feel over-whelmed by the tasks ahead. If I may, allow me to offer a thought or two.
14 August 98
Life = Time.
Time = "Life-force".
Life-force = energy in, less energy out times Time.
Wealth = surplus Life-force left, after doing whatever else is necessary to sustain ones life; - thus, in the final analysis, wealth is nothing more than Time, or Life-force in a different form
How much "wealth" one may possess at any given moment is little more than a representation of the expenditure of Life-force efficiencies over the duration of ones livinghood.
Wealth forms = anything that one may determine "important" to oneself; i.e. - dollars, gold, real estate, paintings, health, free time, leisure, books, etc.
Point : you have to decide what is important to YOU, and having done that, you will have defined the word "wealth"
Being "Wealthy" = possessing that which is important to one, in such forms and amounts necessary to satisfy ones definition of that phrase; i.e. a little gold, some cash, a piece of real estate, a painting, some leisure, etc - may for you, constitute wealth; those same things for another, may not.
The important thing to remember is that it is YOUR comfort level that you are trying to achieve and describe, no one else's. Thus: YOU have to determine what it is that 'turns you on', and what it is that turns you on enough that you will give up, if necessary, those things that turn you on less than those things that turn you on more. Having done this, you will then have defined your own "comfort level".
So, now, you possess some 'wealth' (as YOU define it!), you are aware that life-styles or living standards may change for most of us in the near future in very dramatic ways (due to Y2K, et al), and you would like to be comfortable with those changes by storing or using your wealth in ways that are in keeping with your life goals; i.e. who you are.
How do you do that?
One ought to:
gain as much information as appropriate and become aware of the 'problem' assess the future possibilities make some best-guess determinations evaluate the risks/rewards for the various actions you propose make some decisions then act!
Again, only YOU can do this. Why? because in the end, you must be comfortable with who you are and how you live, and only you can know you as well as any decision-maker must.
Some basic principles :
1) diversify - i.e. don't keep all your eggs in one basket; maybe a little cash and a little gold, but not all of either
2) always stay liquid and flexible; don't allow yourself to be painted into a corner
3) consider decisions and actions regarding wealth rationally, rather than emotionally
i.e. - don't let emotional attachments to things cloud your best rational judgments regarding e.g. should I buy, sell or hold?
4) a transaction or commodity has a 'Present Value' based only on the FUTURE value of the wealth it represents, never 'what you paid for it' - way back when...; i.e. - the value of anything should be measured not by what one paid for it, but by what pleasure and comfort it gives now; if it has lost its 'value', get rid of it! - and acquire something else that will truly give you comfort and pleasure now, and possibly, in the future.
5) always keep in the foreground of your thinking who you are, what you stand for, and what your goals in life are; stay comfortable with what you are doing; it's only you that you have to please!
6) cultivate and maintain those personal relationships that are rewarding and uplifting (rather than unrewarding and stressful) ; life is tough enough without trying to convince another of the virtues of the principles and values that guide your life; - let them be; give them THEIR freedom - so you can truly possess your own! (Y2K may, in the future, be given as the 'cause' for many breakups of personal relationships, but it may also be the best thing to happen to lots of couples who are only marginally happy now. ) Remember, you have only but one life to live ... your own!
7) Come the crisis, where your head is - is where the rest of you will be!
Perry Arnett firstname.lastname@example.org http://www.pdqnet.net/pjarnett
-- Perry Arnett (email@example.com), August 14, 1998
Thanks for the clear definitions. I will be using this extensively in efforts to get others started in self reliance. I've been prepared for several years and believe the best we can do to help others is to teach/show/explain self reliance. It is all any of us may have in the future.
The rest of the truth: The more self reliant others are the less they will need from me.
-- Gary Hale (firstname.lastname@example.org), August 20, 1998.