Posts by Tom Lipp
The Cost of Something for Nothing
Something for nothing. We all want it, but where can we get it? Is it even realistic? Recently I read a quote from Mark Mobius, Executive Chairman of the Templeton Asset Management’s Emerging Markets Group, that another financial crisis is inevitable because causes of the previous one haven’t been resolved.
Mobius was addressing the Foreign Correspondent’s club of Japan in Tokyo in response to a question about price swings: “Are derivatives regulated? No. Are you still getting growth in derivatives? Yes.”
Read MorePut your trust in God – not gold
Recently the value of gold hit an all-time high of $1,556.33 US per ounce. That’s an increase of over 400% since I last wrote about precious metals (City Light News October 2003) when gold was $370. Why the huge jump?
In a nutshell, the financial confidence in the US dollar fell through the floor. Across the globe, but especially in the US, paper currency was being printed like monopoly money in an attempt to stimulate (aka quantitative easing, a banking euphemism) the economy which suffered its worst crash since the Great Depression of the 1930’s.
Read MoreDebt – Not the Greatest Danger
Recently the Lord has been teaching me an important lesson about money. It’s about the D words. For years I have been taught, and even taught others, all the evils of debt, especially non-tax deductible consumer debt for depreciating items. Debt brings slavery. This means losing personal freedom and being forced to give up…
Read MoreThink Riches and Grow Sick
What is at the root of our current global economic crisis? Think mental diet. What is the worst kind of food to eat? Hint…it looks and tastes good but leaves us sick. I’m sure we can all think of examples. Food for the mind is just as important as food for the body. So what…
Read MoreWhatever Happened to Thrift?
Who needs it? Of course money doesn’t grow on trees, but in our province it oozes out of the ground. Haven’t you noticed? With the Alberta advantage all around who wants to be a tightwad freak? If we were all thrifty wouldn’t our economy shrink? Wouldn’t the banks go bankrupt? Who would make the fat…
Read MoreR and R
As I sat in the coffee shop inhaling that delicious aroma of roasted beans and sipping some fresh brew with one of my favourite clients (takes me out for coffee) I suddenly heard the message. He didn’t even notice but the Holy Spirit spoke to me through him. My client was speaking of his long,…
Read MoreWrite… Right….Right?
Nothing bothers a rich man more than to see a poor man happy. What? Can poor people even be happy? First we need to discover the reasons for poverty. Imagine visiting a doctor and telling him I feel sick. He quickly replies without any questions or investigation, “Here take some medicine”. We’d call him a…
Read MoreControlling Consumption
This month we want to talk about getting our spending under control. Is that even possible? Let’s start by forgetting money for a while and thinking another favourite topic – food! Recently I read about a diet plan whereby dieters could eat whatever foods and quantities they wanted while being guaranteed weight loss after six…
Read MoreFetch Butch, Fetch
What is the most important thing to remember in money management? Get ready. It’s not what you expect. You won’t read about it in popular financial columns. Money is not God! Of course you say; I knew that all along. But what does your behaviour show? Do all your decisions revolve around money? Not only…
Read MoreMore Important than a RRSP
What could be more important than RRSPs – especially this time of year? RRSPs are not just retirement tools but can also be used to purchase a first home or a new home if you have spent the last five years renting, to fund tuition and to supplement income in desperate situations. Additionally, they are…
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