Unsurprisingly, tonight was more drama with the fiscal cliff saga as House Speaker Boehner had to cancel the vote on the “Plan B” because it wouldn’t have enough votes to pass. There are a ton of articles out there on what the fiscal cliff is and all the bad stuff that’s going to happen should it come to pass. However, I’m of the opinion, more times than not, the US would have been better off if the government did nothing rather than doing something. Reason is, whenever the government does anything, it is usually wrought with bad ideas, unintended consequences, and is usually further altered or undone later anyway. This holds true for everything from all the ridiculous stimulus packages and tax break schemes like cash for clunkers and the energy tax credit to bailouts and social experiments like the Obama phones and forcing banks to loosen lending standards to lend to people with lousy credit records. None of it ever works out well. We’d all be better off if the government did nothing.
You might be thinking about all the calamities about to occur when taxes go up, spending cuts are mandated, etc. Well, maybe then…finally, we’d actually spend less one year than what we take in OR, our leaders would actually just start from scratch and restructure the entire system once and for all to work. But putting a bandaid on a pussing wound and/or kicking the can down the road is all our “leaders” seem to be able to do each time any actual leadership is required. I predict they will end up at the 11th hour with another bandaid which will not address any of the structural problems this country faces. Maybe we’d all be better off if they took an extended vacation.
With that, here are some great reads and a shoutout to sites that featured my content recently.
Stuff I Wrote All Over:
Robots and Automation Are Taking American Jobs – Think Your Job is Safe?
- How I Got My Kids Excited About Saving and Investing
- 10 Stocks Paying Special Dividends in 2012 to Avoid Fiscal Cliff
- Make Your Investments Go Further with Passive over Active Management
- 5 Great Investment Maxims
- 5 Must-Have Items to Weather the Next Major Storm