the new movie Take The Lead, one student complains that only
a few people in the world really make it. Antonio Banderas,
the teacher, responds by saying, Those are the ones
who show up!
And thats precisely why some people never have enough
money, and seem not to be able to make it: they dont
show up. And those who have an ample supply of most things
in life are the ones who do; they take the time to turn up
and stake a claim for themselves.
Of course God has always provided, more to some than to others,
and the clergy may well respond: Those who get more,
are the ones who ask! Thats all in the same vein.
You have to contribute effort, its the old production
equation: there must be input, before there is output, and
you have to exercise choice.
And thats the other problem: we have too many choices.
So the skill resides in an ability to filter out whats
unnecessary, superfluous and cumbersome in our financial affairs.
Unnecessary refers to those things you simply dont need,
like bank charges, and fees for services you dont use.
Superfluous refers to an excess over what you really need,
such as fancy pyramid schemes and promises of immediate wealth.
And cumbersome refers to those things that are just too complicated.
For the majority of people, the stock market might represent
a cumbersome choice. But we can choose to make it easier to
understand by simply getting in on the information bandwagon!
Bear in mind however, that trillions of dollars were lost
in the stock market in 2000 and 2001!
But on the unnecessary things: in the US, typically, there
are no annual fees for credit cards, and two or three credit
cards on the same account do not merit additional membership
fees. Why then are we paying fees to hold a credit card, and
some multiple if there are more cards on the account?
To charge consumers a fee for the use of someone elses
money is legitimate, but to charge a fee for the convenience
of not walking around with large sums of cash is unnecessary,
to say the least.
The fact is: in a global market place, the local current fee
structure is not competitive. And we have a choice! That has
to be one of the advantages of CSME!
CSME may really be the beginning of the decline of governments
role as sovereign power. In fact, the role of government may
well be reduced to that of welfare provider, and tax collector!
Markets without boundaries are a huge challenge to the concept
It is the beginning of the understanding of the concept of
freedom. You see capitalism together with the new technologies
is opening doors that before were the domains of the select.
Knowledge has always been the main component of power, and
that has resided for umpteen years in the hands of monarchs,
queens, presidents and generals. But the Internet technologies
have begun the speedy process of pulling power down from the
traditional seats, into the hands and minds of those people
who have access to search engines, and a few dollars more!
It is estimated that some three million digital switches (that
facilitate searches on the Worldwide Web) are available for
every individual human on the planet. There are half a billion
PCs in the worldone for every dozen of population. Plus
the planet has about a billion cell phones.
So even though we dont understand the movement of the
dance yet, we had better just show up!
Next week: The stock market