The Economy: You Reap What You Sow

The credit collapse: How could anyone NOT see it coming? For decades hundreds of millions of Americans have sold their future for immediate luxuries - in the form of home equity loans, credit card debt and adjustable rate mortgages. Of course, shortsighted companies took advantage of consumers' stupidity in exchange for a quick buck. I think it all goes back to the "me-me-me, now-now-now" attitude of the baby boomer generation.

Prophetic were the lyrics of a 1990s Kevin Gilbert song:

"The baby boomers had it all, and wasted everything.
Now recess is almost over, and they won't get off the swing."

Well, recess is certainly over, and those who cashed in their financial future are simply reaping their own noxious harvest.

Also timely was the counsel of LDS Apostle Joseph B. Wirthlin:

“All too often a family's spending is governed more by their yearning than by their earning. They somehow believe that their life will be better if they surround themselves with an abundance of things. All too often all they are left with is avoidable anxiety and distress” (May, 2004).

My family is one of very modest means, but we've managed to avoid the pitfalls of deficit spending. Sure, we don't have a giant flat-screen TV, we drive a couple crappy sedans and our home isn't exactly dinner party material. But still, we have zero debt (excepting a standard mortgage). So I'm not really missing those extraneous niceties at this point.

Romney Presidency? A Buck'll Get You Ten

I was amused to read today that Sportsbook.com has increased Romney's odds of winning the presidency to 10 to 1. So if you're looking for some easy, get-rich-quick money, you now know exactly how to bet. Congratulations, you're soon to be fabulously wealthy.

Romney Wins the Q1 Money Race

This is only from a blurb on Drudge, but I'm sure we'll see accompanying stories shortly.

Romney: $23 million in total receipts... raised $20.63 million in primary contributions...
Rudy Giuliani: $14 million PRIMARY money raised; $17 million in total receipts...

It's a critical achievement for Mitt Romney, who needs this boost at a time when his name recognition barely registers in the national polls. This sends a message to party activists that he is a viable, long-haul candidate with the resources to challenge the Democrat nominee, whoever that turns out to be.

Update from the Romney camp:

"Facing opponents in an extremely competitive fundraising field who enjoy universal name identification and the clear advantage of existing networks of contributors, Governor Romney's fundraising totals are indicative of the extraordinary success the campaign has had at building an organization and stirring excitement among grassroots activists responding to his message," said Romney spokesman Kevin Madden.

Two More to the Romney Roster

Just a quick post to note two more figures joining the Romney campaign. First, Cincinnati's S. Craig Lindner, co-president of American Financial Group and CEO of Great American Financial Resources, will serve as Romney's Ohio fundraising co-chair. The significance? From the article:

Locking down the Lindners is a pretty big score for the Romney campaign, since there are untold numbers of other corporate-types in this part of the world who generally follow the Lindner family's lead when it comes to campaign contributions. …The support of Cincinnati's Lindner family…can draw millions in campaign contributions.

Second is Former U.S. Rep. Bob Beauprez of Colorado. In a mass-email, Beauprez said:

"We have had the opportunity to learn a great deal about Mitt and we are impressed by what he has achieved - as a husband and father, as a successful businessman, and as the Governor of Massachusetts who brought conservative governing principles to a state famous for its liberal tendencies."

These endorsements are all the more timely and valuable during the run-up to the "invisible primaries," the March 31 deadline for campaigns to disclose their financial status. It is then that we will get a feeling for the long-term viability of all the candidates, making it a crucial milestone on the trek to the White House.

It still looks like Mitt is doing everything right in the networking department. Keep it up!

More Board the Romney Voyage to the White House

Just a quick post to note the appointment of two more prominent people aligning this weekend with Mitt Romney. First, former Iowa state Senate majority leader Stewart Iverson will be Romney's new presidential adviser in Iowa. Second, Bob Perry (who financed the Swift Boat Veterans for Truth during the 2004 campaign) has signed on to raise money for Romney in Texas.

He may not have the name recognition he needs, but Romney certainly has the support where it matters most this early in the campaign. On April 15th, all the campaigns will release their first-quarter finances. It will be interesting to see how he compares in that critical area.

UPDATE:
Add Senator Orrin Hatch to the list. Of course, as Orrin is a Mormon Republican, this comes as the most unsurprising endorsement so far. Nevertheless, Hatch has had some major power in the Senate as Chairman of the Senate Judiciary Committee. He actually ran for president himself in 2000, but made little headway.

Coincidentally, Orrin Hatch is my dad's cousin's wife's cousin. So there.

Putting Your Money Where Your Politics Are

Ah, we have definitive proof. It's something I've suspected for years and years, but it seems that it has been a conclusion too politically incorrect to study. Until now.

Read this excellent article about a study that shows that conservatives are more generous than their sweet-talking liberal counterparts. Which of course is hypocritical, considering that for decades liberals have labeled conservatives as less compassionate, less caring, less giving.

Looks like the only care that liberals have is to provide for the needy on someone else's dollar. And then take credit for it.

I guess they need the money for their expensive iPods and Apple hardware. Because being cool is more important than being genuine.