Posted on 06/15/2009 10:19:02 PM PDT by Scott Martin
This is quite long. If you like it, it's continued at the link...
Last night, as I reread Robert Kiyosaki's 1997 Bestseller "Rich Dad Poor Dad," I realized why Barack Obama will be unable to do what is necessary to fix America's economy. It's not just that he believes in government intervention in business, although that's a big part of it. But what makes it even worse is that President Obama is Poor Dad.
For those who haven't read the book, let me give you the gist so you can follow along. The author uses a fable, loosely-based on his life growing up. The purpose is to compare and contrast the differences between his highly-educated and professional father (who he refers to as Poor Dad) and his best friend's father, an informally educated, business savvy mentor (who he calls Rich Dad).
Let's get into it.
1. Poor Dad accumulates liabilities, while Rich Dad accumulates assets.
Rich Dad believes that most people spend their whole lives never getting out of the rat race because they accumulate liabilities instead of assets. They accumulate lines of credit, mortgages that they will never pay off, toys that depreciate the minute they are bought, etc...
(A)s we regularly see with Obama, what is good for his life is not what he advocates for America. What has Obama proposed and accomplished since taking office? The Federal Government has purchased one liability after another. Obama has purchased failing financial institutions, auto companies and picked up consumer credit debt. He has set America on a path of borrowing that seems as if it will never end. And if he gets his way, it never will...
(Excerpt) Read more at patriotroom.com ...
Interesting analysis. I think the book oversimplified the characters, because I know people who think and behave like the rich dad, but are highly educated (trained both formally and informally), professional, and very business savvy.
My grandmother, my grandfather, my father-in-law, my uncle, and my brother’s father-in-law to name a few.
Some things they share in common: strong faith, supporting family, work ethic, experience, college education, entrepreneurship, conservative political values.
Definitely, the book has its flaws. I tried to avoid them in the piece and tried to use what I thought applied and worked in both the book and for the comparison.
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