profligacy | wealthymatters

The 10 Cannots

April 16, 2013 4 Comments

Often mis-attributed to Abraham Lincoln,the following ten cannots were put forth by Rev. Boetcker. They had a profound effect on Margaret Thatcher.She is supposed to have carried a news-paper clipping of these 10 cannots in her now famous handbag.

You cannot bring about prosperity by discouraging thrift.
You cannot strengthen the weak by weakening the strong.
You cannot help little men by tearing down big men.
You cannot lift the wage earner by pulling down the wage payer.
You cannot help the poor by destroying the rich.
You cannot establish sound security on borrowed money.
You cannot further the brotherhood of man by inciting class hatred.
You cannot keep out of trouble by spending more than you earn.
You cannot build character and courage by destroying men’s initiative and independence.
And you cannot help men permanently by doing for them what they can and should do for themselves. Read more of this post

Filed under Theory, Tool Kit Tagged with Abraham Lincoln Quotes, beating recessions, consumption, credit, direct taxes, entrepreneurs, Margaret Thatcher, postaday, profligacy, prosperity, pump-priming, Rev. Boetcker, risk-takers, Thatcherism, The 10 Cannots, thrift, wealth, wealth envy, welfare spends

Global Rich List Calculator

January 16, 2011 16 Comments

Wealth is a somewhat relative term. And the people we compare ourselves with to decide how wealthy we are ,are often those who surround us. The world however is a much bigger place, and knowing where we are placed in this world depending can really surprise us.

To find out where you stand worldwide on the basis of your income, use the nifty calculator here : Link

Of course income hardly equals wealth, there are expenses to be considered and then there is the question of what we do with our surplus income—blow it ,save it, invest it or acquire liabilities, which go to determine our wealth position. And then again, money buys different levels of access to the good things in life in different places. So enter the location of your primary residence and total up your assets in the currency you most prefer and you can work out just how wealthy you are.

Do reflect on the different figures that the income and wealth calculator throw up. They reflect your privilege that translate to head-starts and lifelong gains. Also your profligacy that reduces your advantages in life.