The Deception of Consumption
January 25, 2008 by Stephen Palmer · Leave a Comment
If anyone ever tries to tell you that the economy is driven by consumer spending, I have one piece of advice–RUN! This one fallacy alone has arguably caused more damage to our nation than any other, and a person who believes it is either deceived, or is using it to be deceptive, or both.
I walked out of an investing seminar recently because the speaker used this fallacy–that consumer spending is the basis of the economy–as a foundational argument for his thesis. His thesis was that America is headed toward a serious economic downturn based on future reduction of consumer spending, and that if we want to survive the rough times ahead then we need to amass as much money as possible, because money is what will save us.
The Power of Precession
January 25, 2008 by Stephen Palmer · Leave a Comment
Do you feel like a failure when you don’t get the results that you seek?
Much unnecessary frustration comes from being attached to results, or judging success or failure based on external things or events. Buckminster Fuller taught a concept that he called “precession,” which is the natural side effects that our direct actions produce, usually without us even realizing it. For example, bees work directly to gather nectar to make honey, without even realizing that the natural side effect of this is cross-pollination. If a bee works all day and is unable to find any nectar it will still be fulfilling a profound purpose.
Virtuous men and women strive to produce value for others consistently, whether they see direct and immediate effects of their actions or not. Many times we will not see direct, positive results immediately, but if we have faith in principles we will continue to act with the knowledge that all things will eventually work for our good. Do what is right and let the consequences follow.
Click here for an excellent article explaining precession in more detail.
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