Sunday, April 29, 2007

A Little Financial Literacy Goes A Long Way

A report on consumer spending Monday could cause stock market prices to take a quick hit. If it does, the media will quickly predict economic catastrophe.

Don't fall for it.

Yes, the slump in the housing market is having an impact on the economy. And yes, a recession may be in our future. But the answer is to get out of debt by any means necessary and work to improve your earning power.

The last thing we want to do now is initiate the move to socialized medicine or start another round of "soak the rich" tax increases. Economic slowdowns come and go, but socialism is forever.