Shutdown, Smut-down, Debt Up

What does the shutdown really mean to the vast majority of Americans? Apparently not much, other than the entertainment factor of watching the political dramas (shame they do not have political Oscars).  It seems that the only folks affected are those who have been furloughed. I have had a number of conversations with clients, friends, and business associates, several of whom are government workers. The consensus is mixed. Some of the workers that are furloughed look at this as a temporary vacation, with back pay deferred. Surprising some have been forced back to work with pay and some have been forced back without pay, which they feel will be settled after the shutdown is over. All in all, there really hasn’t been much of a noticeable difference unless you are heading to a national park.

I’ve never been much of a political junkie; although, as the years go by I have become more mindful of the direction of our country and how it would affect our economic situation. I have always been a lover of history and biographies. Recently, I was talking to a client that made a great point; we seem to have two countries today, a divided political party and a divided country. This is not necessarily anything new in politics if you understand anything about American history. Squabbling and bickering has been in play as far back as Washington’s presidency. One thing that is noticeably different today is the vicious, smut like personal attacks across the entire political spectrum. It seems to be more divisive than in any point in history. One would have to go back to the Civil War to find a time with such obvious dissension amongst the ranks of the common American.

What does the shut-down and huge debt mean to most Americans? Not much in the final analysis, life goes on, politicians make promises.  The talk about the debt and who’s at fault has always been around. We have always had debt and always will. Only one time in modern world history has a country satisfied its debt and that was 1836 during Andrew Jackson’s presidency. A lot of people confuse the rare occurrence when the budget has been balanced as being debt-free.

I remember working for some older gentleman; they were in their 70s when I was 16. Man did they complain about the debt. At that time the debt was minuscule compared to today’s numbers. The US population was also 100 million less, 35 years ago. One comment that has always stuck in my mind was when these gentlemen would say, “The only way this debt will ever be satisfied is if they made our currency worth nothing.”

For those of you that follow much of the hype and find your blood pressure affected by the venomous backbiting, mudslinging, and smut down type activities we see from our so-called political leaders; allow me to calm your senses and let you know this is really nothing new. It’s not going to affect our daily business activities; our future is just as secure as it always has been. Why? It is because us Americans collectively make up this great country. It is credit worthy because of our hard work and efforts in spite of our inept government.  There is so much hype, marketing, and techniques being spewed out by our national media and blog-sphere.  Fear propaganda is being used to elicit emotional responses and sell advertising. The media is betting on it and the stock-markets are acting on it. If one was to turn off your computer, radio, and TV, I submit to you, one will not see much of a change in your daily life.  As one of my drill instructors was famous for saying, “Clear your mind and your butt will follow.” Remember all of the sources of so called news out there is: one mostly opinion and two agenda driven. Tune out and this too shall pass.

About Paul Nichols

Paul is the founder of Financial Abundance, a Registered Investor Advisory firm and EDI, an Estate Planning Firm with offices in State College and Lewisburg. He has been working with individuals, families and businesses for over twenty years, including many Fortune 500 companies. He has educated tens of thousands of people through seminars, workshops and various international speaking engagements where he shared the stage with many notable individuals such as Ronald Reagan, Robert Kiyosaki (author of Rich Dad, Poor Dad), Mike Ditka, General Schwarzkopf, and Newt Gingrich to name a few.

In 2000, after many years of traveling to consult companies and individuals, Paul decided to relocate from Colorado to State College, PA (his wife’s hometown) to develop a local advisory firm.

Paul operates under the core belief that education plus understanding leads to clarity and confidence; resulting in peace of mind. He is a proud father of three and devoted husband of 20 plus years.

Some of Paul’s accomplishments:
Regular contributor to the Centre Daily Times, via the “It’s Your Money” blog
Featured in the movie Navigating the Fog of Investing
Regular contributor to Town & Gown as the publications Investor Coach
Host of the weekly iTunes Podcast, It’s Your Money
Member of the Western PA Better Business Bureau
Member of the Centre County Chamber of Business and Industry