I've felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out.
Balance in life is the key, as Aristotle taught us. Nobody likes a naive Pollyanna, but neither do we like to be around people who are constantly complaining and finding fault.
Who uses funds more productively - private citizens or the government? I dare say that Warren Buffett can use his surplus funds more effectively in private business and creating jobs than the government can.
Contrary to what President Obama said in his inaugural address, going on Medicare and food stamps does not strengthen us. Just ask people who are fourth-generation welfare recipients.
Even though I've reached retirement age, I still plan to work - writing my investment newsletter, speaking at conferences, publishing books, and producing conferences like FreedomFest.
Since the 1970s, I've been a big fan of attending conferences as a great way to learn, network, socialize and enjoy a new environment. It's always refreshing to get out and see a whole new world.
Bill Gates and Warren Buffett have their 'Giving Pledge,' where billionaires promise to give away the majority of their wealth when they die. My Social Security Pledge is better - to give money to good causes when you are alive. Besides, more Americans can participate.
Market capitalism survived and prospered after the boom-bust industrial revolution of the 19th century, and the Great Depression and world wars of the 20th century. It will recover from the financial panic of 2008-09 and Obamanomics.
