the economy | Total Wealth

Are Things Getting Better or Worse?

Kate Phillips — Fri, 17 Feb 2012 09:41:40 +0000

Are things getting better or worse? Seattle life coach Kate Phillips examines the world around us and the world of perception within us.

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Heroes, Villains, and Slippery Slopes

Kate Phillips — Tue, 06 Jan 2009 14:03:09 +0000

A financial coach examines the Curious Case of Bernie Madoff and the largest financial fraud in history.

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Chauncey Gardiner and the Audacity of Hope

Kate Phillips — Mon, 10 Nov 2008 08:18:56 +0000

(A tale of two political figures – one fictional as well as accidental, one real and very intentional.) As long as the roots are not severed, all is well. This week I re-watched the brilliantly constructed satire, “Being There.” (A 1979 film directed by Hal Ashby, adapted from the 1971 novel written by Jerzy Kosiński.) Peter Sellers plays a simple-minded gardner with no social or intellectual skills, being essentially raised by television sets and the plants he tended. When forced into new situations such as befriending a billionaire and meeting the president, he is mistaken for a genius of sorts. “Chance the Gardner” becomes “Chauncey Gardiner,” his simple sentences interpreted as deep metaphors about the state of the nation. Here are some lines from the “meeting the president” scene: President “Bobby”: Mr. Gardner, do you agree with Ben, or do you think that we can stimulate growth through temporary incentives? [Long pause] Chance the Gardner: As long as the roots are not severed, all is well. And all will be well in the garden. President “Bobby”: In the garden. Chance the Gardner: Yes. In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again. President “Bobby”: Spring, and summer. Chance the Gardener: Yes. President “Bobby”: Then fall and… winter. Chance the Gardener: Yes. Benjamin Rand: I think what our insightful young friend is saying is that we welcome the inevitable seasons of nature, but we’re upset by the seasons of our economy. Chance the Gardener: Yes! There will be growth in the spring! Benjamin Rand: Hmm! Chance the Gardener: Hmm! President “Bobby” Hmm. Well, Mr. Gardner, I must admit that is one of the most refreshing and optimistic statements I’ve heard in a very, very long time. [Benjamin Rand applauds] The metaphors remind of my own “Autumn Contemplations”…

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Nothing to Fear but Fear Itself

Kate Phillips — Wed, 22 Oct 2008 11:07:16 +0000

I was so moved by the words of FDR at his inaugural address, and struck by the timeliness of what he wrote for our own time as well, I wanted to share this excerpt. Given March 4, 1933, this speech was delivered in the depth of the Depression. “This is preeminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink from honestly facing conditions in our country today. This great Nation will endure as it has endured, will revive and will prosper. “So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory. I am convinced that you will again give that support to leadership in these critical days. “In such a spirit on my part and on yours we face our common difficulties. They concern, thank God, only material things. Values have shrunken to fantastic levels; taxes have risen; our ability to pay has fallen; government of all kinds is faced by serious curtailment of income; the means of exchange are frozen in the currents of trade; the withered leaves of industrial enterprise lie on every side; farmers find no markets for their produce; the savings of many years in thousands of families are gone. “More important, a host of unemployed citizens face the grim problem of existence, and an equally great number toil with little return. Only a foolish optimist can deny the dark realities of the moment. “Yet our distress comes from no failure of substance. We are…

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Autumn Contemplations, Financial Chaos, and Spring

Kate Phillips — Wed, 15 Oct 2008 13:19:05 +0000

The chaos in our financial markets seems to stand in contrast to the serenity of a beautiful fall day, with many-colored leaves on display and the gentlest of breezes giving them breath. But look closely… I often find that my life tends to mirror and follow the season, both in exterior patterns and interior rhythms. And perhaps the financial markets, which at a glance appear to be such a contrast to this autumn beauty, are doing the same. Leaves die and fall to the ground in preparation of winter. It is “Fall,” literally, the season of falling leaves. The trees shed their leaves in preparation for winter. They anticipate the coming season of longer nights, less sun, and cooler temperatures. As fall becomes winter, visible growth comes to a stop, although the roots continue to burrow into the soil in preparation of spring. I believe we are witnessing the “Fall” of the financial markets. Literally. (I don’t mean their demise or their destruction – I’m not that dramatic or pessimistic.) It’s Autumn in the banking industries and the stock market. The crazy growth of spring seems to be an illusion. Inflated profits, inflated prices, inflated expectations…. And while much attention has been focused on the excesses of Wall Street, there has been plenty of over-reaching on Main Street too. The average American saves 1% of their income, but spends up to $104% of their income. How is that even possible!? The average American is more in debt each year than the last. I hear that Americans are more likely to declare bankruptcy than graduate from college, and now that we can’t refinance our homes due to ever-growing equity, we are up a creek without a paddle. We want, we buy. “Buy now, pay later!” “No interest for a year!” Credit is not a bad thing. Credit has…

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The Cure for the Recession (article)

Kate Phillips — Tue, 12 Aug 2008 05:39:54 +0000

“The quality of our life is the quality of our emotions.” Gas is over $4 a gallon, meanwhile foreclosures are up, workers are being laid off, and business owners are tightening their belts. The word “recession” is bandied about, sometimes in whispers (as if we’re afraid the economy might hear us), other times in not-so-soft complaints. I’m a prosperity coach, not an all-powerful genie who can cure this country of what ails it. However, I may have some “cures” that may help our individual suffering in a measurable way. We all have feelings about the current economic climate. Maybe we feel fear, frustration, worry, or resignation. Perhaps we feel relief that our job is safe, and guilt that our neighbor’s was not. Typically, the more we are personally and physically affected, the more intense our negative emotions are likely to be. And from a sheer “happiness” perspective, I would suggest that these emotions, and not the recession itself, are the cause of any pain we might feel. Understandably, when unemployment, foreclosure, illness or death comes to your household, it presents challenges, often challenges we have not yet learned to face. But who has not known or heard of a person with incurable cancer who was as peaceful as the Dalai Lama? Illness is not a reliable predictor of negative emotions (though much research indicates that laughter and optimism aid in healing). Being wronged does not preclude forgiveness and inner peace. Bad traffic doesn’t necessitate road rage. And call me crazy, but I don’t think a recession (whether personal or national) means we must succumb to gloom, doom, and fearful fretting. I once heard an intriguing statement: “The quality of our life is the quality of our emotions.” In other words, whatever we are feeling…

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