On All Saints Day, October 31, 1517, Martin Luther posted his 95 Theses to discuss the abuses of indulgences.
Indulgences took money from the people to finance the wars, wants, and desires of Popes, Priests, Bankers, Brokers, Princes, Kings and Emperors.
Some of these individuals were righteous. Unfortunately, many of these individuals were wicked and immoral.
Martin Luther focused his beliefs on Romans 1:17, "The righteous will live by faith."
Martin Luther believed that faith was a free gift to all men from God, and that the christian man was free to choose, and did choose, to be dutiful to God and man.
Unfortunately, there are groups today, who again have access to a lot of money through modern day indulgences, who choose power, selfishness, immorality and greed, instead of their duty to God and man.
Martin Luther believed that Rome was weakening under the morass of moral decay. Rome was later sacked by Charles V.
Is America weakening under a wave of moral decay today? What is the state of morality in the world today?
Luther asked himself the question, "How does anyone know if his sins are really washed away?"
He found his answer in the scriptures. This love for the scriptures supported Luther in his translation of scripture into the tongue of the people; into German.
Today, all people everywhere have access to the scriptures.
As we approach the eve of All Saints Day (Halloween), where does the world stand today before God and man?
I believe that Ronald Reagan's favorite scripture is still the key to our success in America and in the world today. It is 2 Chronicles 7:14 "If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land."
Monday, October 27, 2008
Sunday, October 26, 2008
"Wiping Out"
Years ago I had the opportunity to attend a seminar featuring the motivational speaker Art Mortell, then President of Systematic Achievement Corp. Part of his presentation revolved around the blessings that come from wiping out.
He said, "Failure is only an experience that is less than what you expected in which you must demand to know: what have I gained; what is the benefit."
He suggested that failure and success are synonymous.
For example, he said that Thomas Edison needed to fail 10,000 times before he found the right filament for the lightbulb.
As another example, he cited the fact that Babe Ruth struck out 1330 times getting to 714 home runs.
Life is an adventure. As my Grandmother Wilson said, "Just enjoy it." Failure and wiping out are just part of the adventure; they renew our humility.
God said that "Blessed are the meek, for they shall inherit the earth." Matt. 5:5
With the turmoil in the world today, wiping out seems to be commonplace. Look at all of the individuals and financial institutions that have wiped out.
The great thing about the American Experiment is that we can wipe out and gain strength from the experience.
Art Mortell said further that the only way to truly fail is to either quit or not try.
Americans are resilient because they keep trying, and they don't quit.
In World War II, Winston Churchill's famous lines, "Never, never, never give up" are applicable again to us today.
We have some incredible challenges ahead of us with regards to the economy, healthcare, social securtiy, national security, retirement, etc.
Some words of wisdom that I have always remembered were these, "Don't take yourself too 'dang' seriously."
President Thomas S. Monson, President of The Church of Jesus Christ of Latter Saints gave a challenge to the priesthood that I think applies to solving many of our problems today. He said, "Many areas of the world have experienced difficult economic times. Businesses have failed, jobs have been lost, and investments have been jeopardized. We must make certain that those for whom we share responsibility do not go hungry or unclothed or unsheltered." He said further that we should make our homes "...sanctuaries of rigteousness, places of prayer, and abodes of love..." and that we need God's guidance in our lives today.
To make "wiping out" a blessing in our lives, Art Mortell offered these suggestions:
1. Avoid negative addictions like smoking, alcohol, caffeine, food, TV, oversleeping, drugs, gambling, depression and hostility.
2. Implement positive habits like exercise, work, relationships and meditation (God).
3. Be more like a 3 year old, relentless, a proficient role player relating to everyone, able to shift gears at high speed changing tactics, cute, warm and a professional hustler.
He said that total happiness comes from good health, financial independence, love and peace of mind.
"Then shall thy light break forth as the morning, and thine health shall spring forth speedily: and thy righteousness shall go before thee; the glory of the Lord shall be thy rereward." Isaiah 58:8
He said, "Failure is only an experience that is less than what you expected in which you must demand to know: what have I gained; what is the benefit."
He suggested that failure and success are synonymous.
For example, he said that Thomas Edison needed to fail 10,000 times before he found the right filament for the lightbulb.
As another example, he cited the fact that Babe Ruth struck out 1330 times getting to 714 home runs.
Life is an adventure. As my Grandmother Wilson said, "Just enjoy it." Failure and wiping out are just part of the adventure; they renew our humility.
God said that "Blessed are the meek, for they shall inherit the earth." Matt. 5:5
With the turmoil in the world today, wiping out seems to be commonplace. Look at all of the individuals and financial institutions that have wiped out.
The great thing about the American Experiment is that we can wipe out and gain strength from the experience.
Art Mortell said further that the only way to truly fail is to either quit or not try.
Americans are resilient because they keep trying, and they don't quit.
In World War II, Winston Churchill's famous lines, "Never, never, never give up" are applicable again to us today.
We have some incredible challenges ahead of us with regards to the economy, healthcare, social securtiy, national security, retirement, etc.
Some words of wisdom that I have always remembered were these, "Don't take yourself too 'dang' seriously."
President Thomas S. Monson, President of The Church of Jesus Christ of Latter Saints gave a challenge to the priesthood that I think applies to solving many of our problems today. He said, "Many areas of the world have experienced difficult economic times. Businesses have failed, jobs have been lost, and investments have been jeopardized. We must make certain that those for whom we share responsibility do not go hungry or unclothed or unsheltered." He said further that we should make our homes "...sanctuaries of rigteousness, places of prayer, and abodes of love..." and that we need God's guidance in our lives today.
To make "wiping out" a blessing in our lives, Art Mortell offered these suggestions:
1. Avoid negative addictions like smoking, alcohol, caffeine, food, TV, oversleeping, drugs, gambling, depression and hostility.
2. Implement positive habits like exercise, work, relationships and meditation (God).
3. Be more like a 3 year old, relentless, a proficient role player relating to everyone, able to shift gears at high speed changing tactics, cute, warm and a professional hustler.
He said that total happiness comes from good health, financial independence, love and peace of mind.
"Then shall thy light break forth as the morning, and thine health shall spring forth speedily: and thy righteousness shall go before thee; the glory of the Lord shall be thy rereward." Isaiah 58:8
Thursday, October 23, 2008
Our own worst enemy - Our own best friend - self-fulfilling prophecies
When it comes to the economy, we are our own worst enemy - our own best friend - and self-fulfilling prophecies can solve our economic crisis.
With the S&P 500 trading at about 900, and 10 year treasuries trading at about 3.8%, and with earnings on the S&P 500 likely to hit about $80 in the next 12 months, the market is probably undervalued by a huge amount. Depending upon what assumptions one wants to make about future earnings, growth and inflation, the market could be fairly valued as high as 2100. That is an increase of 133% over the current valuation.
Now if everyone will jump on the bandwagon, with proper action, we will become our own best friend, instead of our own worst enemy, and the self-fullfillment of that action will take the S&P 500 to new highs.
It should happen.
It will solve our economic crisis.
It will balance the budget.
It can happen.
We just need to be our own best friend and great things will happen.
With the S&P 500 trading at about 900, and 10 year treasuries trading at about 3.8%, and with earnings on the S&P 500 likely to hit about $80 in the next 12 months, the market is probably undervalued by a huge amount. Depending upon what assumptions one wants to make about future earnings, growth and inflation, the market could be fairly valued as high as 2100. That is an increase of 133% over the current valuation.
Now if everyone will jump on the bandwagon, with proper action, we will become our own best friend, instead of our own worst enemy, and the self-fullfillment of that action will take the S&P 500 to new highs.
It should happen.
It will solve our economic crisis.
It will balance the budget.
It can happen.
We just need to be our own best friend and great things will happen.
Monday, October 20, 2008
Musings about Isaiah
Sunday I was musing about Isaiah. With the turmoil in the world today, I wanted to see what thoughts Isaiah, from the Old Testament, had about our world. Here are a few of his thoughts that stood out to me:
From Chapter 6:
8 Also I heard the voice of the Lord, saying, Whom shall I send, and who will go for us? Then said I, Here am I; send me.
From Chapter 9:
12 "...For all this his anger is not turned away, but his hand is stretched out still."
From Chapter 28:
10 For precept must be upon precept, precept upon precept; line upon line, line upon line; here a little, and there a little:
From Chapter 40:
26 Lift up your eyes on high, and behold who hath created these things, that bringeth out their host by number: he calleth them all by names..."
31 But they that await upon the Lord shall renew their strength; they shall mount up with wings as eagles; they shall run, and not be weary; and they shall walk, and not faint.
From Chapter 48:
10 Behold, I have refined thee, but not with silver; I have chosen thee in the furnace of affliction.
18 O that thou hadst hearkened to my commandments! then had thy peace been as a river,..."
22 There is no peace, saith the Lord, unto the wicked.
From Chapter 54:
8 In a little wrath I hid my face from thee for a moment; but with everlasting kindness will I have mercy on thee, saith the Lord thy Redeemer.
From Chapter 55:
1 Ho, every one that thirsteth, come ye to the waters, and he that hath no money; come ye, buy, and eat; yea, come, buy wine and milk without money and without price.
From Chapter 57:
20 But the wicked are like the troubled sea, when it cannot rest, whose waters cast up mire and dirt.
21 There is no peace, saith my God, to the wicked.
What do these scriptures say to me? They tell me that God is kind and merciful; that God knows each of us by name; that he is patient with us and that "his hand is stretched out still". They tell me that He created all things, including the heavens and the earth and that we learn by doing; "line upon line" and by the "furnace of affliction". They tell me to be bold and to be righteous; to do good. They tell me that God is patient and wants to bless us with strength, knowledge, and "peace like a river". They tell me that wickedness leads to turmoil and unhappiness.
From Chapter 6:
8 Also I heard the voice of the Lord, saying, Whom shall I send, and who will go for us? Then said I, Here am I; send me.
From Chapter 9:
12 "...For all this his anger is not turned away, but his hand is stretched out still."
From Chapter 28:
10 For precept must be upon precept, precept upon precept; line upon line, line upon line; here a little, and there a little:
From Chapter 40:
26 Lift up your eyes on high, and behold who hath created these things, that bringeth out their host by number: he calleth them all by names..."
31 But they that await upon the Lord shall renew their strength; they shall mount up with wings as eagles; they shall run, and not be weary; and they shall walk, and not faint.
From Chapter 48:
10 Behold, I have refined thee, but not with silver; I have chosen thee in the furnace of affliction.
18 O that thou hadst hearkened to my commandments! then had thy peace been as a river,..."
22 There is no peace, saith the Lord, unto the wicked.
From Chapter 54:
8 In a little wrath I hid my face from thee for a moment; but with everlasting kindness will I have mercy on thee, saith the Lord thy Redeemer.
From Chapter 55:
1 Ho, every one that thirsteth, come ye to the waters, and he that hath no money; come ye, buy, and eat; yea, come, buy wine and milk without money and without price.
From Chapter 57:
20 But the wicked are like the troubled sea, when it cannot rest, whose waters cast up mire and dirt.
21 There is no peace, saith my God, to the wicked.
What do these scriptures say to me? They tell me that God is kind and merciful; that God knows each of us by name; that he is patient with us and that "his hand is stretched out still". They tell me that He created all things, including the heavens and the earth and that we learn by doing; "line upon line" and by the "furnace of affliction". They tell me to be bold and to be righteous; to do good. They tell me that God is patient and wants to bless us with strength, knowledge, and "peace like a river". They tell me that wickedness leads to turmoil and unhappiness.
Upper Stillwater Reservoir in Utah
Here is another fall picture of the trail around Upper Stillwater Reservoir in the High Uinta Mountains of Utah. On top of the ridges west of the reservoir we watched about 25 deer and 5 white long-haired mountain goats wander about, feeding and enjoying the beautiful fall weather.
First Snow 2008 Utah
Two weeks ago the first snow fell in northern Utah. Here is a picture of the pines above Upper Stillwater Reservoir. The aspen trees were still beautiful, with lots of color.
Saturday, October 11, 2008
Economic Solutions
As I see it, there are four basic issues that we need to confront in order to solve the economic crisis of our day:
1. Fear.
2. Greed.
3. Protectionism.
4. Pessimisim.
Here are 4 simple suggestions, one each for the above issues, to immediately reverse the capital destruction that is taking place in productive assets:
1. Provide security. Guarantee all bank deposits. I believe that America has already done this.
2. Eliminate all golden parachutes. Make them illegal. They seem immoral anyway.
3. Deregulate. For example, eliminate the mark to market requirement of illiquid assets.
4. Promote optimism. Eliminate short-selling for a time. This could be a similar move as to preventing the Hunt Brothers from cornering the silver market.
As I consider the loss of capital in dollars this year, I believe that it must be on the order of $20 Trillion dollars world-wide. If we were to mark to the market all of the real estate and other assets world-wide, the additional loss of capital in dollars is probably at least another $20 Trillion.
I believe that President Bush said that we would be stronger for going through this experience. He is right. Adversity makes us stronger.
Hopefully we will make good choices as we learn from this experience. Hopefully we will find ways to be kinder and gentler to one another.
We live in an extraordinary time in the history of the world. We are better off today than at any time in the history of our world.
But the challenges of today are immense. With a world population approaching 7 billion, the need to be productive is greater than ever.
Looking optimistically, does this mean, considering the synergistic potential of all of us working well together, that we can all be better off? It's worth a try.
1. Fear.
2. Greed.
3. Protectionism.
4. Pessimisim.
Here are 4 simple suggestions, one each for the above issues, to immediately reverse the capital destruction that is taking place in productive assets:
1. Provide security. Guarantee all bank deposits. I believe that America has already done this.
2. Eliminate all golden parachutes. Make them illegal. They seem immoral anyway.
3. Deregulate. For example, eliminate the mark to market requirement of illiquid assets.
4. Promote optimism. Eliminate short-selling for a time. This could be a similar move as to preventing the Hunt Brothers from cornering the silver market.
As I consider the loss of capital in dollars this year, I believe that it must be on the order of $20 Trillion dollars world-wide. If we were to mark to the market all of the real estate and other assets world-wide, the additional loss of capital in dollars is probably at least another $20 Trillion.
I believe that President Bush said that we would be stronger for going through this experience. He is right. Adversity makes us stronger.
Hopefully we will make good choices as we learn from this experience. Hopefully we will find ways to be kinder and gentler to one another.
We live in an extraordinary time in the history of the world. We are better off today than at any time in the history of our world.
But the challenges of today are immense. With a world population approaching 7 billion, the need to be productive is greater than ever.
Looking optimistically, does this mean, considering the synergistic potential of all of us working well together, that we can all be better off? It's worth a try.
Wednesday, October 8, 2008
Autumn in the Rocky Mountains
Here is a picture of the magnificent scenery near the Upper Stillwater Reservoir in the High Uinta wilderness area of northern Utah. For a spectacular drive, take the paved roads from Mountain Home, about 20 miles north of Duchesne, Utah, and follow the signs west to Upper Stillwater Reservoir. Spend some time walking around the reservoir and then continue on the dirt road west, up and over the tops of the mountains at an elevation of about 11,000 feet. Then continue about 17 miles south to Hannah, Utah. The dirt road is passable by car in good weather, although it has one spot where you'll need to be careful because of rocks. The views are breathtaking and there are many side-roads and trails to explore. My round-trip drive time from Highway 40 near Duschene, including an hour of exploration, was 3 hours.
Thursday, October 2, 2008
Why Congress should vote Yes on the Bailout.
Dear Congress:
Here is why Congress should vote yes on the proposed bailout plan for our financial markets, and why Congress should strongly support this legislation and it's revisions going forward.
This legislation has the potential to make a generational change, favorable to all, in the way government manages our finances.
Since we still have to deal with social security, healthcare and energy reforms in the future, the need for proper fiscal and financial management is critical.
Since there are trillions of dollars sitting in money market types of accounts in our country, the key is to get that money moving.
Since fear and the need of self-preservation will keep individuals from borrowing this money until the fiancial markets stabilize, the government needs to be the borrower of last resort.
Since the taxpayer is the government, the taxpayer is the borrower of last resort.
I believe that this may be a golden opportunity to better equalize the wealth of taxpayers. Borrowers who invest wisely become wealthy.
This legislation could be a first step in allowing taxpayers the opportunity to share in the wealth creation of America.
We should be following the example of Warren Buffett and we should be investing in GE and Goldman Sachs, and all of the other great things in America. We should help each other help ourselves. Let experts take on the troubled assets in America and let us as taxpayers benefit from their success; or suffer with them if they fail. Let's partner together as a people, and go forward with faith.
When we all work together for a common cause, rather than our own selfish interests, good things will happen.
Capitalism has its limits, as demonstrated by this financial meltdown; a meltdown that may not stop until the government intervenes as the borrower of last resort.
Fear has to be overcome. Fear cripples and destablizes everything it touches. Faith on the other hand; faith in each other; faith in the government; faith in America; will create wealth, prosperity and success beyond our wildest dreams.
Taxpayers unite. Let's invest in what is great about America.
Thank you for your consideration.
Sincerely,
Dennis Wilson
Here is why Congress should vote yes on the proposed bailout plan for our financial markets, and why Congress should strongly support this legislation and it's revisions going forward.
This legislation has the potential to make a generational change, favorable to all, in the way government manages our finances.
Since we still have to deal with social security, healthcare and energy reforms in the future, the need for proper fiscal and financial management is critical.
Since there are trillions of dollars sitting in money market types of accounts in our country, the key is to get that money moving.
Since fear and the need of self-preservation will keep individuals from borrowing this money until the fiancial markets stabilize, the government needs to be the borrower of last resort.
Since the taxpayer is the government, the taxpayer is the borrower of last resort.
I believe that this may be a golden opportunity to better equalize the wealth of taxpayers. Borrowers who invest wisely become wealthy.
This legislation could be a first step in allowing taxpayers the opportunity to share in the wealth creation of America.
We should be following the example of Warren Buffett and we should be investing in GE and Goldman Sachs, and all of the other great things in America. We should help each other help ourselves. Let experts take on the troubled assets in America and let us as taxpayers benefit from their success; or suffer with them if they fail. Let's partner together as a people, and go forward with faith.
When we all work together for a common cause, rather than our own selfish interests, good things will happen.
Capitalism has its limits, as demonstrated by this financial meltdown; a meltdown that may not stop until the government intervenes as the borrower of last resort.
Fear has to be overcome. Fear cripples and destablizes everything it touches. Faith on the other hand; faith in each other; faith in the government; faith in America; will create wealth, prosperity and success beyond our wildest dreams.
Taxpayers unite. Let's invest in what is great about America.
Thank you for your consideration.
Sincerely,
Dennis Wilson
Economic Bailout - 2008
Warren Buffett said it well. He said in part that the key to overcoming the current crisis is for all of us to just go to work and to work together. The problem today is fear. The problem with capitalism is the fear and greed cycle.
Who said, "Be bold and mighty forces will come to your aid...Love life. Be grateful for it always. And show that gratitude by not shying away from life's challenges. Live each day a little beyond your capacities and you'll find that your capacities are greater than you ever dreamed."? Answer: Arthur Gordon - Readers Digest May, 1988, pages 33-36.
In the parable of the talents Jesus said in Matthew 25 that those who were given talents all went to work and did well except for one. One of the servants buried his talent. He didn't even put it in the bank just to get some interest because he was afraid. He buried it in the earth. The Lord was only upset with the servant who buried his talent out of fear.
The servant who buried his talent is a microcosm of the problems in our economy today. If we collectively bury our talents; if we don't go to work, if we don't act because of fear, then all that we have will naturally be taken away from us.
So the message to Congress, and to the people of America is: don't be afraid. Go forward with faith; trade; work; and great blessings will result. The $700 Billion bailout package is an act of faith; it is going to work; it is an investment in America; it is a good idea. It is faith in America.
To the members of Congress: Vote yes. Have faith in America. And then let's all go to work, with faith, without fear, and together we'll make it work.
Who said, "Be bold and mighty forces will come to your aid...Love life. Be grateful for it always. And show that gratitude by not shying away from life's challenges. Live each day a little beyond your capacities and you'll find that your capacities are greater than you ever dreamed."? Answer: Arthur Gordon - Readers Digest May, 1988, pages 33-36.
In the parable of the talents Jesus said in Matthew 25 that those who were given talents all went to work and did well except for one. One of the servants buried his talent. He didn't even put it in the bank just to get some interest because he was afraid. He buried it in the earth. The Lord was only upset with the servant who buried his talent out of fear.
The servant who buried his talent is a microcosm of the problems in our economy today. If we collectively bury our talents; if we don't go to work, if we don't act because of fear, then all that we have will naturally be taken away from us.
So the message to Congress, and to the people of America is: don't be afraid. Go forward with faith; trade; work; and great blessings will result. The $700 Billion bailout package is an act of faith; it is going to work; it is an investment in America; it is a good idea. It is faith in America.
To the members of Congress: Vote yes. Have faith in America. And then let's all go to work, with faith, without fear, and together we'll make it work.
Subscribe to:
Posts (Atom)