Table of Contents
Additional Praise for
Financially Stupid People are Everywhere
In his plain speaking, no-nonsense style, Jason Kelly calls our national economic debacle as he sees itno one is spared scrutiny. By giving us simple financial rules to live by, Kellys message is clear: Financial swindlers are out therealways have been and always will bebut, they cannot succeed without financially stupid people (i.e., those who cannot say no to crippling debt). So, no finger-pointing, folks; just look at the Man in the Mirror, follow these rules, and make that change to financial freedom!
Diane E. Davies, Attorney and Professional Fiduciary
Jason Kelly brings light to many issues at grasp with Americans today, along with many solutions. Maybe someday America will wake up and smell the coffee.
Frank Mancini, CEO Bellabacci Inc.
As a professional money manager I strongly believe being financially smart is better than being financially stupid. Hence, reading Financially Stupid People are Everywhere is a must. Most importantly, Jason Kelly once again hammers home the secret rule on how to get rich: spend less than you earn. Also, be sure to NOT pay for this book with a credit carduse cash or a debit card.
Charles F. Michaels, President, Sierra Global Management, LLC
If the Tea Party Movement gets a hold of Jason Kellys new book, look out Washington come November!
Peter Lawrence Alexander, The Business Parables (2010)
On the surface Financially Stupid People are Everywhere is a practical book with effective, clearly explained advices on how to keep control over your finances and stay out of the debt-trap. But a more accurate reading reveals a deeper concept that could really improve your life: reducing voluptuous expenses is a prerequisite for achieving financial freedom, which in turn leads to stresslessjobs, better work-life balance andultimatelya more meaningful and genuine way of living.
Dario Di Bella, Executive, Financial Services, Accenture
I couldnt stop reading. It was infectious! Insulting, yet instructive. Hold on. So youre saying we should take responsibility for our decisions? People seeking new ways to go into debt to live a fiction is at the root of most financial crises. This book provides a nice kick in the pants to wake up and live responsibly. I dont agree with your characterization of the banks or the politics, but the personal lessons are useful.
Brian Jacobsen, Ph.D., J.D., CFA, CFP(r) Associate Professor Economics, Wisconsin Lutheran College
Jason Kellys no-nonsense assessment of the global financial crisis shows that it wasnt just financially stupid people working on Wall Street who caused the financial crisis, but also ones living on Main Street. Daring to take the other side of the trade and examine this aspect of the crisis during a period of increasing populism, Jason Kelly offers a Main Street explanation of the crisis along with easy, common-sense solutions that empower individuals to avoid becoming part of the next financial disaster.
Richard Forno, Chairman, SNS Advisory Board Strategic Advisor to technology startups
Personal responsibility is the willingness to accept the consequences of ones behavior without blame or excuse. This quality is the bedrock of emotional stability and the lack of it is the financial cancer that almost destroyed the world financial markets in the first part of the twenty-first century. Mr. Kellys book is a mirror for seeing what financial irresponsibility looks like. Whoever reads this book will see themselves as part of the problem instead of blaming everyone else. Like a happy movie ending, this book carefully explains what the average citizen can do to become financially responsible, worry free, and liberated from the bonds of the rich and powerful. If every American would read this book and follow its advice, America could be solvent and its citizens would have financial peace of mind. Get it now!
Terry Sandbek, Ph.D., Psychologist; Author, The Worry Free Life
This book should be required reading in every high school economics class! Especially valuable is its clear explanation of how credit card debt works as compound interest in reverse. How lucky a young person would be to realize this before they fall into the bankster traps.
Ralph Allswede, Retired President, Precision Prototype & Mfg, Inc., and Consultant
This is a most insightful and easy-to-read synopsis of the causes of our economic problems in the United States! The discussions about solutions are thought provoking. The writer has an easy to understand style thatjust keeps you reading till the pages run out!
C. Patrick Lauder, M.D., Mammoth Hospital, California
One of my favorite books has been Piero Ferruccis What We May Be, a gem of transformational insight. On getting into Jason Kellys abrasive depiction of financial incompetence, I was hardly thinking transformation. Shocked resistance was the first reaction to his scolding against stupidity, claiming that Americas most toxic asset is its financially stupid people. OMG, has the meticulously disciplined Jason of the Neatest Little Guide series on investing, lost it, this time gambling that his rant against stupidity wont result in his readers thinking him a misanthrope? Shock yielded to Aha on feeling the hand of one who has made it, helping his readers along his well trodden path to economic character and a moral course to the good life. Kelly offers a rare and coherent fix on the interplay between societal economic chaos and the dysfunction of its individual members. The enemy is us, and the cure requires a resurgence of interest in individual character.
George Collins, Philosophy Professor, Attorney Estate Planner
With disarming common sense, Kelly makes the case that personal financial freedom requires very little math skill. It depends mostly on our courage to question the social conventions built into modern consumption societies, and our resolve to change our lifestyles accordingly.
Alan Furth, Economist; International Entrepreneur; Blogger at AlanFurth. com
In his latest book, Jason Kelly has given us a crash course in history and a review of the current state of our society and economy. He has shined a spotlight on the rampant lack of accountability that exists today and provided evidence that the cards are stacked against us. Its not all negative though, the book also provides a clear set of rules and tips for how to protect your wallet and get ahead. With real life examples of people from all walks of life, Jason illustrates that financial freedom is attainable for all of us.
Jacob Glenn, Director Financial Services, Rosetta
A must-read if the truth and reality of your financial future is important.
Roger de Bock, Consultant, Western Financial Planning
INTRODUCTION
Life as a Sucker
Its time we look honestly at whats really wrong with the American economy.
The whole thing nearly collapsed from overwhelming debt in a crisis that began in 2007 and is still raging as I write this in 2009. It seems the economy will survive for now, but thanks only to maniacal government spendingfunded by taxpayers. The long-term consequences of that spending are probably dire, possibly catastrophic.