Meir Ezra
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Are There Any Shortcuts to Prosperity?

Previous parts of this article: Part 1   

 

All Money, No Production

As you may have noticed, too many people tried to just get money without any production. It caused our world-wide recession. Here are two examples.

Fred hears how people are making money by buying houses and then selling them for a big profit. Fred also learns he can borrow a great deal of money, even though he doesn't make enough money to pay it off. He is convinced, "I'll just buy this big house with this big loan. I'll sell it in a year and make a big pile of money, just like everyone else."

A few months later, Fred is behind in his payments and can't pay back his loan. No one will buy his house, so he goes bankrupt.

Jill believes that anything she does is okay as long as she makes money from it. So she cheats on her time card at work and adds an hour or two each week that she did not work. She steals office supplies from time to time. She also borrows money from people and never pays them back.

As another example, Joe owns a company that has a $1 million retirement fund. Hundreds of workers have given part of their pay into this fund. Pete convinces Joe to give him the $1 million so he can turn it into $2 million. Joe thinks he's going to make $1 million profit for doing nothing. Pete gets a big commission for getting Joe's $1 million.

When Pete's plan completely fails, the retirement fund is gone. Joe loses his company and all of his workers have no retirement money

 

All Production, No Money

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