Things I Learned the Hard Way About Economics

1. Income is a short-term gain. Wealth, however, is a long-term quest.

2. It doesn't always take money to make money, but it always takes a plan.

3. Relying on the government for your retirement fund is like relying on the Maffia to keep track of your bank account: the money eventually disappears.

4. The IRS is like the Maffia: they take a cut off the top in exchange for "protection." The difference is the Maffia doesn't pretend it's legal.

5. Credit card companies are the corporatized form of Maffia money lending. No matter how little you borrow, they eventually get everything you own.

6. It takes a minimum of two years for a newly established, brick-and-mortar business to pay back the money it borrowed from the Ma--er, banks, and a minimum of five years to start seeing adequate profit. Most businesses never last longer than three years.

7. Internet businesses have far less overhead than brick-and-mortar but require twice as much work in promotion.

8. In making a bet between the lasting value of paper money versus the lasting value of silver and gold, the silver and gold always wins the bet.

9. The current U.S. Dollar is a Federal Reserve bank note. So yes, you are buying everything with paper "I Owe You"s. Some day the bill will come due.

10. There's a reason the Euro has more value than the U.S. Dollar. It's called Supply and Demand. There's far too many dollars compared to Euros. But that's okay, because Euros are notes of debt, too. And some day the bill will come due.