Travis Seitler: Web Designer

There was this successful businessman, okay? He was raking in the dough, and he was all like, “What am I gonna do with all of this? It’s not like I can cram it all under my mattress.”

So he talked to his financial advisers, and decided, “I’ll max out my 401(k), flip some real estate, buy up a bunch of tech stocks and live off the dividends. I’ll be all set, and I can retire before I’m fifty! See the world… maybe spend a year or two relaxing in Paris. I’m set for life.”

But God had other ideas: that same week the economy tanked, taking all the man’s investments with it. He died over the weekend of a massive stress-induced heart attack.

“This is how it will be with anyone who stores up things for himself but is not rich toward God.”

So here’s the deal: don’t worry about “taking care of yourself.” God’s been taking care of the rest of the world for a while now, and frankly, he’s way better at it than you are. There’s all sorts of idiots scurrying around chasing after things they have no real control over.

Don’t be like them, they’re stupid.

Instead, chase after God’s kingdom and trust him to take care of that other stuff. He’s happy to do it, too! So don’t freak out; sell all of that crap you’ve been holding onto, then take that money and give it to people who are worse off than you. That’s how you chase after God’s kingdom, and it’s the only investment that’s a sure thing.

See, you’re like a manager who’s been put in charge of payroll: you’ve been given access to large sums of money, but don’t let that delude you into thinking the money’s for you, because it’s not. What would the boss say if he found out that while he was on vacation, that manager withheld everybody else’s paychecks and gave himself a hefty bonus? Do you think he’d even be given time to clear out his desk?

Take care, and be on your guard against all covetousness, for one’s life does not consist in the abundance of his possessions.

If you’re on Twitter, post your answer there and include the #ifelected hashtag. I’ve got a few in there already, but it’d be more fun if somebody else was playing with me! Make it funny, serious and/or insightful… just don’t be bland. (And make sure you’re following hashtag on Twitter if you want yours included in their index.)

Anybody who’s trying to get a handle on the current economic free-for-all should check out The Real Great Depression, which does a great job explaining how the depression of 1873 mostly happened because too many banks approved too many bad mortgages in the commercial real estate sector, and so it’s a better analog to what we’re seeing today.

More generally, the Ludwig von Mises Institute put together a collection of articles to help you understand the bailout and everything related to it (Freddie Mac, short-selling, etc.). Lew Rockwell put together a similar collection of “I told you so” articles.

• Bear Stearns Loss Presages More Turmoil – New York Times [NY Times]
  “Morgan Stanley on Wednesday announced the sale of a $5 billion stake to China’s sovereign wealth fund, and both Citigroup and UBS made similar deals with Middle Eastern and Asian governments…”
• The alliance between China’s communist government and Wall Street deepens [Roubini Global Economics Monitor]
  “The CIC’s big stake [in Wall Street] still worries me—in large part because the CIC also owns three of the four large Chinese stake banks, and is expected to own two others after the recapitalization. And there is no doubt that the state banks have been managed in part to achieve non-commercial goals. China’s banks have historically been used to implement China’s version of industrial policy—directing credit to favored sectors of the economy.”
• Crazy For China [Forbes]
  “This is China’s century. The rest of the world is just living in it.”

America isn’t just bleeding money—Asia is busy holding buckets underneath to catch it all. You never know… this might be a good time to brush up on your Mandarin. :/

If I had a gold-based salary (rather than U.S. Dollar-based), I’d be doing quite well now.

I just ran the numbers, and sheesh! When I started working full-time as a web designer, my beginning salary was $25k/yr. At the time, gold was trading at $280US/oz., so if I’d been paid in gold, I would have been working for 89.29oz/yr.

Fast-forward to November 2007: the U.S. Dollar has become so devalued (primarily due to the never-ending Federal Reserve printing presses—we’ve got to fund the troops somehow, and that somehow is by printing more FR notes) that if we take that hypothetical “gold-standard salary” and convert it into today’s U.S. Dollar, you end up with $71,500/yr.

Let me say that again: $25,000 in May 2000 equals $71,500 in November 2007.

Somehow those raises don’t seem so much like raises anymore.