Tuesday, February 9, 2010

The Debtor's Problem

Allan Greenspan made a brilliant quote on Meet the Press this past Sunday:

"History tells us that great powers, when they've gotten into very significant fiscal problems, have ceased to be great powers."

Indeed. But here's what I really love about the sentence:

Replace the word "powers" with "businesses" and read again.

Now replace "great powers" with "individuals with high hopes and big dreams."

The second one is a little tough: "History tells us that [individuals with high hopes and big dreams], when they've gotten into very significant fiscal problems, have ceased to be [individuals with high hopes and big dreams].

Certainly there are exceptions at each level, but amazing how that works right?

Take-away: plan and act to build a sound fiscal future . . . no matter what the level of work.