standard The Unswankiest Vote of All

We won’t spend too much time wailing and gnashing our teeth in the aftermath of an election day hangover. Obama won. We may not like it but at tad over half the country does. As Bill O’Reilly said last night, we’ve become a nation of people who want the government to give them stuff and last night’s results prove it. Put another way, we’ve become a nation of people who want the government to take stuff from people who have earned it and give it to people who haven’t. This is called redistribution. Our Founding Fathers weren’t big fans of the idea and we consider it very unswanky.
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While the stark prospect of a second Obama term gives us the heebie jeebies for what it means to America (a virtual leap towards Euro-style socialism), there are two points we’d like to make.

More Inflation is Good for Income Property Investors

Another four years with Federal Reserve chairman, Ben Bernanke, and the Inflator-in-Chief at the wheel is almost certain to stir up a healthy dose of inflation. That’s not great news for America but turns out to be the perfect recipe for creating wealth if you happen to own a portfolio of income producing properties tied to long-term, fixed-rate mortgages. As Jake Swank scholars are well aware, the presence of inflation drives down the real value of a mortgage, which is why we say you should NEVER pay off that loan. Keep refinancing and cashing those tenant checks.

The President Only Matters if You Let Him

The second point is a bit more philosophical. We and many of our readers were kind of jazzed at the idea we might get a businessman running the country for a change. That dream has fallen by the wayside, but the reality remains that the President of the United States (POTUS) of America can only derail your dreams of financial independence if you let him. For those devoted capitalists out there, shrug off the election results. The success or failure of your life depends on YOU, not a teleprompter-abusing empty suit from Chicago.

Whatever grand plans you had for entrepreneurialism in the face of a government that believed in letting Adam Smith’s invisible hand work in the market – hang onto them. The face on the television might not be the one you voted for, but who cares? The government doesn’t create wealth and it sure as heck can’t stop a dedicated capitalist from doing so if he or she really wants to.

So, whatever you do, don’t change your plans. Get wealthy anyway. (Top image: Flickr | Neon Tommy)

Stay swanky, America!

The Jake Swank Team


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