Tag: wealth

  • How to Lose 50 Pounds in 11 Weeks – 5 Things You Must Do

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    Trying to lose 50 pounds in 11 weeks can seem like a formidable task, but I assure you it can be done.

    I’m assuming you’re not interested in using weight loss pills, appetite suppressants, surgery or any of that other junk to lose 50 pounds in 11 weeks, which is good…’cos I hate those things. Don’t get me wrong, they have their place in certain situations, but in most cases, are an unnecessarily extreme measure.

    When you consider that a gastric bypass operation can cost anywhere between $25,000 to $35,000 US dollars, you have to question whether the advice given to some folks to go through with it is in their best interests or that of the surgeon and his pocket.

    Trying to lose 50 pounds in 11 weeks may be a tough challenge but there are a few things you can do to make your life easier.

    Here are 5 top tips you should follow when trying to lose 50 pounds in 11 weeks.

    1) Believe in yourself / set goals

    The first and most important thing is getting in the right frame of mind. This may sound strange since you already know you want to lose 50 pounds in 11 weeks…so what do I mean?

    Well, don’t worry, I’m not gonna go all Tony Robbins on you and get you jumping up and down in a euphoric state (although there is some truth to that). Rather, I’m saying that you need a clear picture of where you want to be, and focus on it. You need to feel like you’ve already managed to lose 50 pounds in 11 weeks…think about it…how does it really feel. Are your work colleagues inspired and envious of your new body and transformation? Do you have the confidence that you were lacking to ask out that hot guy or gal you’ve had your eye on for like forever?

    Only by picturing it in your mind will you be able to set goals for your success and believe that you can and will lose 50 pounds in 11 weeks. The goals will be the checkpoints on your journey, the self-belief will be the fuel that keeps you going.

    2) Find a good trainer and surround yourself with good like-minded people

    This is an essential and often overlooked part of trying to lose 50 pounds in 11 weeks. A lot of people don’t realise that who they surround themselves with plays a huge part in their self-belief, attitude, and overall motivation and determination. It has been said that a person is the average of the 5 or 10 people they hang around with the most, and this regards health, wealth, ambition, aspiration, relationships, family etc. This is not a hard and fast rule, but I feel there is some truth to it.

    Trying to lose a lot of weight quickly will be demanding and therefore you want to surround yourself with positive folks who are rooting for you, and not people who are waiting for you to fail, so they can say “I told you so!”

    Now, I’m not saying you should just give up and avoid your family and friends, but rather to seek out folks who have similar goals, and understand your situation. Finding people who have been where you are now and achieved your goals can give you a real push to do the same. Why do you think things like Weight Watchers clubs are so successful? It’s because they bring all these people together and they help each other out.

    Where can you find these people? There are loads of forums online where you can find people who are trying to lose weight. Just going to Google or Yahoo and typing something like “weight loss + forum” (without the quotes) will yield all sorts of great things. There are also loads of weight loss and fitness programs online that you can follow to lose 50 pounds in 11 weeks.

    The same applies to your trainer, coach, or workout program that you choose to follow. Are they supportive yet ambitious, pushing you on when things get tough? If not, find one that is.

    3) Eat a healthy diet

    Obviously, diet and nutrition is fundamentally important when trying to lose 50 pounds in 11 weeks. Taking on too many calories will mean you always put on weight, period. Therefore, you will need to create a caloric deficit, by taking on fewer calories than you burn, forcing your body to burn up the fat deposits and use it as energy.

    Finding the right diet is important, and many folks go about it the wrong way. Starving yourself is a big no-no. You may lose a few pounds in the first few days, but it won’t last, as your body will transition into starvation mode and slow down your metabolism to burn less fat (it’s your in-built survival mechanism), making it even harder to lose 50 pounds in 11 weeks.

    So what can you do? Eat more! Yes, by eating smaller meals more regularly you will maintain your metabolism at a higher rate, and this, combined with exercise, will help you lose the pounds faster.

    Green fibrous vegetables like broccoli, green beans, asparagus and lettuce are great healthy foods that can actually help you to burn fat, and it’s almost impossible to overeat on them. Eating more of them in the later part of the day along with a good lean protein like chicken breast is one of the best methods of getting lean as quickly as possible, and losing 50 pounds in 11 weeks.

    4) Follow a good exercise plan

    Without exercise, even the best diet plan in the world will struggle to help you lose 50 pounds in 11 weeks. You need to exercise in order to get the full benefit of the caloric deficit we mentioned earlier. It will create the furnace where you burn off those unwanted pounds.

    Regular exercise also aids the mind, confidence and overall health. By tightening up, toning and growing your muscle, you also help your body to burn fat faster. Did you know that muscle can actually help you burn fat? So the more muscle you have the more fat you can burn, because your metabolism will work faster with more muscle.

    Find a good training and exercise plan, with a good variety of cardiovascular work for your overall fitness, endurance and toning exercises like pushups and sit-ups, and some light weight training.

    5) Stick to it!

    This is the most important and often the hardest thing when trying to lose 50 pounds in 11 weeks. The best diet, exercise routine, trainer, and goals, mean nothing without the small action of going and actually doing it. Things may get tough over the next 11 weeks, but sticking to it and following through will show results, and you’ll be amazed at what you achieve. Once you see a little success you’ll be hungry for more and then it’ll be so hard to stop the momentum you build up, that 50 pounds in 11 weeks will seem like a piece of cake!

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    Source by John Wheeler

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  • Book Summary: Unlimited Wealth – Theory and Practice of Economic Alchemy by Paul Zane Pilzer

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    The basics of economics are supply, demand and scarcity. Economics best describes how to divide these scarce resources up amongst a growing population. Paul Pilzer takes a very different approach to Economics. He believes in Unlimited Wealth and shows examples of why technology and human ingenuity are the keys that unlock that wealth.

    Why is this important to me?

    I am not doing this summary to waste your time. It is my vision to provide concise action steps that you can adopt right now to enhance your financial life. Paul Pilzer writes of unlimited wealth creation. His spin is Alchemy is the creation of wealth while Economics is simply the method for moving it around.

    I am really intrigued by the concept of unlimited wealth creation. If you look at human progress in free societies, the real difference has been in creation. Commodities and resources are in fact finite but the way we use them is what is unlimited. The ideas are unlimited. An acre of land today produces far more food than an acre a generation ago.

    Unlimited Wealth discusses several major topics. For the sake of time, I will review the salient points outlined by Paul.

    1. Supply Side Alchemy – The Wealth Equation: W=PT^n – This equation means – W (Wealth) = P (Physical Resources) x T (Technology) to the nth power where n is the effects of the technological advances. The expansion of physical resources depends on the technological advances. Supply side Alchemy consists of three laws. The key to this equation is what Paul calls the third law of Alchemy – The rate at which a society’s technology advances is determined by the relative level of its ability to process information. Let’s look at how society has progressed based on the third law of Alchemy. Humans figured out how to write, then the printing press was created, then the computer was created and purchasable by the average consumer. Now we have the internet, social media, search engines and everything else to share knowledge. The speed of information exchange is exponential hence so is our level of wealth.

    2. Demand Side Alchemy – The demand side alchemy consists of the fourth and fifth laws. The fourth law states – By providing us with new products and processes that change the way in which we live, technology determines what constitutes a need, and hence the nature of consumer demand. In a nutshell, demand can be created by creating and innovating new products. Apple is on its way to be the first company to hit a Trillion dollar valuation. All of their products were created first and then the demand came from it.

    3. Sixth Law of Alchemy – The immediate economic potential for an individual, an industry or society can be explained by examining the technology gap, the best practices possible with current knowledge, and the practices in actual use. This is important today because China and India are way ahead of the U.S. in terms of science and math. Technology strives on science and math and societies that adapt it faster will create wealth faster. This is where the balance of power can shift over time.

    Unlimited Wealth is definitely a controversial study based on regular Economics theory. Since I am in the technology field, I agree with Paul that Unlimited Wealth can be created through technology and innovation. Products are being created right now that no market exists. Some of these products will fall flat while others will explode. Take a look at Facebook. This company came from nowhere and is now valued at over $50 billion.

    I hope you have found this short summary useful. The key to any new idea is to work it into your daily routine until it becomes habit. Habits form in as little as 21 days. One thing you can take away from this book is scarcity is a negative mind set. I say this because if you believe in unlimited wealth creation then ideas will flourish.

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    Source by Joe Mosed

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  • The History of the Modern Money Clip

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    The history of the money clip is not a very long one since the need for a them only arose with the invention for paper money. Paper currency was first developed in China during the 7th century due to shortage of copper. Before this time ones wealth was worn around the neck in the form of necklaces the wealthier you were the heavier the chain you wore. This became physically uncomfortable and problematic, so the Chinese developed a system where they could leave their coins with a person of trust in return for a paper note. They could get their money back by showing the note at a later time. This practice was later discontinued and paper money doesn’t arise again until 1690 in Europe. During this time England produced paper money to facilitate the movement of goods and services while waging colonial war in faraway Canada. It was much easier to move paper money then large amounts of heavy coins.

    So as paper money gained popularity the need to hold ones money became a necessity. The first patent for a money clip was patented on May 7 1901 by B.G Deovich for a safety holder for paper money. This clamping device held the money and also had an attached chain to secure to and convenient button. The ones we know today was not invented until 1931 when L. weeks applied for the patent that we know today as the modern money clip. Before this time paper money was hap hazardously carried in pocket of in change purses or in folded pieces of fabric.

    Today there many styles and types they are made of different metals and materials and come in many different styles to fit anyone’s taste. Some money clips have time pieces on them; some have secret compartments, some even have knives in them or flash lights. They come all metals from platinum encrusted with diamond to silver and gold and the more readily accessible stainless steel. Stainless steel is prized for its durability and low cost and is the most well known of all the materials. Many groups such as the Mansions carry money clips with special logos on them. They can are used as an extension of one’s personality or to show affection or affiliation with an affinity group such as sports teams or military units. They are given as both corporate and personal gifts because they can easily be engraved and made as personal or impersonal as needed.

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    Source by Brenda L Hopkins

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  • What Is the DXY Dollar Index?

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    The DXY is an indicator that many market watchers and commentators reference and quote. So what is the DXY or US Dollar index?

    The DXY is a geometrically weighted index of some of the major trading partners of the United States. The composition if the DXY Index is heavily weighted towards the Euro and European countries that have not joined the European common market. The components of the DXY Index are (by weighting): Euro (57.6%), Japanese Yen (13.6%), Great Britain- Pounds Sterling (11.9%), Canadian Dollar (9.1%), Swedish Krona (4.2%), and Swiss Franc (3.6%). Because of the composition of the DXY, it is sometimes referred to as the Anti-Euro Index.

    The DXY is a convenient index to use as a simple method for referencing strength and weakness of the US Dollar (USD). But its ubiquity disguises the fact that it does not reflect the value of the dollar against a broad enough basket of currencies. The DXY was created by JP Morgan in 1973, and it has only been updated once, for the introduction of the Euro currency.

    The DXY is heavily weighted towards European currencies, it underweight’s the Canadian Dollar, as a proportion of US trade, and it largely ignores important Asian and Pacific trading partners, including Korea, Australia, Taiwan and necessarily China. Even if one were interested in including the Chinese Renminbi (Yuan) it would be both difficult and of questionable informational value to include the Renminbi because China keeps their currency pegged to a range that is based on the dollar.

    A more accurate basket of currencies to track the relative value of the USD would be to value the dollar against the top US trading partners. The top 6 US trading partners, from high to low are: Canada, China, Mexico, Japan, Germany and the UK. It’s hard to say why JP Morgan created this index and how it came into such prominence. One odd thing about this index is you cannot trade it. There is no market that you can go to and buy the DXY. The closest you can get are futures and options contracts traded on the InterContinental Exchange (ICE).

    If it’s so inaccurate, then why is it so widely quoted? While there are more accurate ways to benchmark the USD, absolute precision is not always important for an indicator. Many traders and institutions likely have their own indices that they use to track the USD, but for the sake of comparison, it is very convenient to have a common index. The DXY is also highly correlated to a trade-weighted index most of the time. Relative strength or weakness moves by the USD represents huge flows of money. As I’ve written previously, the recent +10% move by the DXY represents more than $1 trillion of nominal wealth destruction. Moves of this magnitude do not happen in a vacuum and the relative weakness of the DXY is mirrored by corresponding weakness in the trade-weighted index.

    While there are shortcomings, the DXY does serve as a reliable indicator of USD strength and weakness and can be used as such, as long as one keeps in mind that it will occasionally be skewed if there are large currency moves that occur in the Euro.

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    Source by Christian Koch

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  • MLM vs. Consumer Direct Marketing Business Opportunities

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    We’ve all seen them before – businesses that promise great wealth and prosperity with a minimal amount of effort. Did you know that only 1 out of every 1,000 home-based businesses last longer than 5 years? So what REALLY sets all these companies apart, and which method has the least risk for everyone?

    First, let’s take a look at a way of marketing that has gotten SO popular (and many times out-of-hand) – Multi-Level Marketing. When you think of multi-level marketing, you may think of overbearing sales people who begin by bothering their family and friends, and resort to manipulating others into buying lots of inventory. You might also imagine a get-rich-quick scheme with promises of great wealth through very little work. Finally, you may envision business schemes that lack a compelling product, but hype up the promise of big incomes.

    Now, let’s take a look at what a few companies are turning to – Consumer Direct Marketing. What’s the big difference? Well, Consumer Direct Marketing typically redirects the funds that would typically be used for advertising, multiple shipping costs, various middlemen, and several distribution channels into spending for higher quality ingredients, product innovations, and profit sharing with customers. The result of this is a new and interesting method of delivering quality, low-cost products to families around the world – and then SHARING THE INCOME with those families.

    The companies that are truly heads and tails above the rest are all turning their attentions to the important aspects of Consumer Direct Marketing. The true result is less risk for the business-builder as well as the consumer, because there are no inventories to buy, no financial risks, and no hype. EVERYONE, people referring the products, and customers alike, only buy what they need each month. And of course, anyone who refers someone else earns a commission from the purchases of the customers they refer.

    Maybe the neatest thing about this almost “laid-back” method is that the majority of customers buy each month without any interest in receiving commissions, and when you have customers that really love the products and aren’t pressured from the vast majority of MLM companies out there, that means true residual income – income that you’ll receive the rest of your life – your retirement, or your children’s college education!

    If you’re interested in a 20-year-old Consumer Direct Marketing company that might be a great opportunity for you and your family, please don’t hesitate to contact me, and I’d be happy to share my experiences with you.

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    Source by Hayley Keller

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  • Terminal Wealth Dispersion, Life Expectancy and Individual Retirement Accounts

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    Terminal wealth dispersion is the technical term that describes the variability of the future value of investment portfolios. This inevitable variability means that no one knows what the value of their investment portfolio will be when they reach retirement age or at any time during their retirement. And the uncertainty of individual’s life expectancies compounds this problem.

    Hedging against the risks associated with these two factors places an onerous burden on individuals. Although this hedging could result in a very comfortable retirement, if one can afford the hedge and their timing is right, the potential downside risk is so great that it may be deemed unacceptable by many individuals. So one has to ask “Do individuals really prefer to forgo a sure but modest retirement income and play the odds with their retirement savings in hopes of being very well off in retirement?”

    With individual accounts, individuals lose the benefit of the pooling of risks. The two risks that force individuals to over-save are investment risk and the risk of living beyond the average life expectancy. In both cases the outcomes, terminal wealth and life span, are highly variable. When the risks are pooled for a large number of individuals over many overlapping life spans, the average outcomes are highly predictable, which is what makes traditional pension plans work so well.

    Traditional pension plans exist, for all intents and purposes, in perpetuity. This being the case, they can build reserves during good times in the financial markets and weather the bad times, thus enabling them to make consistent payouts to retirees regardless of the timing of their retirement. Unfortunately, individuals do not get to choose their holding periods or the years of their retirement and must take whatever comes along, and what comes along might be good or it might be bad. Thus individuals must set savings goals that are sufficiently high to hedge against the risk of the average return of an investment portfolio over its holding period falling well short of that which would be expected very long term.

    The relatively short duration of individual’s holding periods leave them very susceptible to the effects of market cycles, which are notoriously unpredictable in amplitude and frequency. Being broadly diversified mitigates this risk but does not eliminate it, as it’s entirely possible for a worldwide bear market to occur during one’s holding period. Then at the end of the holding period for wealth accumulation, a second holding period begins, which will be the term of retirement, and this second holding period carries the same risks as the first, but at a time in life when there is no source of income to make up for portfolio under-performance.

    The other component of risk that individuals must hedge is the risk represented by the uncertainty of one’s life span, which means that individuals must aim even higher when setting their savings goals. The managers of large pension plans can depend on retirees living on average for only the average life expectancy of employees who reach retirement age. The average life expectancy for someone who reaches the age of 66 is currently 82 years, and 66 is currently the age when workers are eligible for full Social Security benefits, which makes it a reasonable baseline. Based on those assumptions, the average term of retirement would be 18 years and pension plans should only have to be funded to the extent necessary to cover the cost of this average term of retirement.

    Individuals, however, don’t know how long they’re going to live, so they must over-save to ensure that they don’t run out of money before they run out of time. This need to over-save is independent of the first need, thus the need to over-save is compounded, i.e., an individual needs to save enough to cover the cost of living well beyond the average life expectancy and the targeted amount of savings at retirement age must be great enough to ensure with a reasonably high level of certainty that the actual amount on hand at retirement is at least the bare minimum necessary to get by on.

    A popular estimate of the term of retirement for which individuals must plan is 30 years. Saving enough to cover the cost of a 30-year retirement is a much greater burden than saving for an 18-year retirement, but planning on a shorter retirement exposes individuals to tremendous risk. It also exposes taxpayers to tremendous risk, as individuals who outlive their savings will undoubtedly require some form of public assistance to make ends meet and are likely to become wards of the state when they become physically incapable of caring for themselves.

    An individual who bases their retirement saving on living to the age of 96 but only lives to be 82 will have forgone a lot of pleasures in life, such as travel, fine dining and better vehicles, that they could otherwise have enjoyed. But many individuals just don’t have the level of income required to support the saving rate necessary to amass the wealth required to hedge against the downside of terminal wealth dispersion and the possibility of living well past the average life expectancy. For them it’s not a matter of forgone consumption, it’s a matter of going through life with the knowledge that they are likely to spend their golden years living in abject poverty and that that will be their reward for 40 or 50 years of hard work. And it gets worse!

    Some economists now believe that within 15 years or so, given the current rate of health care inflation, 100% of Social Security benefits will be spent on medical expenses: Medicare Parts B and D premiums, copayments, uncovered expenses and medigap insurance premiums. If that becomes the case, anyone without substantial savings or a defined benefit pension will be looking for public assistance the day after they retire. Although this is probably a worse case scenario, there is a general consensus that individuals retiring today will need to set aside approximately $180,000 for medical expenses not covered by basic Medicare.

    With the situation already at this state, adding private Social Security accounts to the mix would be like throwing gas on a fire, as individual Social Security accounts carry the same risks as other individual retirement accounts. Those who have tried to kill Social Security since its inception find private accounts very appealing. But, not so coincidentally, most of them seem to be in the enviable position of not needing Social Security to support their retirement. More recently, younger workers, too, have come to oppose Social Security, but not for the same reason as the traditional opponents. Young workers may be crushed by the growing burden of Social Security and may never receive any benefits from the system. Those who oppose Social Security simply because it’s a social program should be expending their efforts on reforming it rather than killing it.

    If Social Security had been managed like a pension plan rather than the ilconceived system it is, with today’s workers paying for yesterday’s workers’ retirement, its current situation wouldn’t be so dire. Indeed, it might very well be a fully funded, functional system. CalPERS and other large public employee retirement plans have operated successfully for decades, with success being defined as being able to meet their obligations, not having an adverse effect on the financial markets, no scandalous events attributable to malfeasance by the plans’ sponsors and being free of influence from elected officials. There’s no reason that Social Security can’t also be managed in such a manner. It would literally take an act of Congress to do this, but the hardest part for Congress would be letting the system run without their interfering with its operation.

    Passing off the burden of retirement to individuals was a great deal for corporations but it’s a very poor deal for most individuals, and extending individual accounts to include the Social Security system would only make a bad situation worse. It’s not a poor deal for all individuals because there will be some who can afford to save a substantial portion of their income and whose holding periods will coincide with bull markets, thus putting their wealth in the upper range of their terminal wealth dispersion, and who also live a long, healthy life. They will be the ones who benefit from over-saving and living beyond the average life expectancy, but they may end up forfeiting a portion of their wealth in the form of taxes to support the less fortunate. I don’t believe that is what the public expects from a well-conceived system.

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    Source by Mike Kennedy

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  • Health Is Wealth – A Conceptual Critique

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    People have different preferences towards available life options. Same is true for the statement “health is wealth”. What exactly is it? A simple preference that signifies health is superior to wealth? Or a comprehensive statement that indicates health and wealth are linked with each other, systematically and dynamically?

    Health is a comprehensive concept, it includes physical strength, mental power and spiritual-wellness of a person. On the other hand, wealth is the richness of a person i.e. abundance of money and worldly items. “Health is Wealth” is a simple statement but its meaning is so fabulous when deeply thought. People now a days refer the statement as when a person is healthy, he is capable of making wealth. On the contrary, if one is not healthy he/she cannot work productively, and hence won’t be able to generate income for independent living. This explanation is true but the deep meaning of this claim can be understood by the words of Virgil: “The greatest wealth is health.” Mr. Virgil is trying to enlighten the concept that the greatest wealth is health, not money or worldly items. There is nothing more valuable in our life than having a good health.

    Patrick Meagher said: “Some people are so poor, all they have is money.” Nowadays people are influenced by wealth improperly that they don’t even care about their health, the greatest wealth. They don’t understand that without health there is no real happiness and enviable success. A person with poor health is unable to enjoy the pleasures of life. I think such people are foolish enough because they do not care about their health. Our first priority should be to maintain our health in the best way.

    There are multiple methods and practices by which a person can stay healthy; Spending time in natural environment i.e. visiting parks and gardens. Physical exercise is also essential e.g. morning walks, playing sports, etc., it keeps a person smart and healthy. Water is the cure for all types of illness, so drink water to stay healthy and fit. Eating a balanced diet keeps people away from different illness and diseases. It is said that: “Early to bed and early to rise, makes a man healthy, wealthy and wise.” Abandon unhealthy practices and habits e.g. smoking, drinking and taking drugs because it harms internal parts of our body. Always be optimistic and cheerful because: “Laughter/smile is the best medicine.” On the contrary, an unhappy person is more prone to fatigue and other illness.

    Remember, living a healthy life can be the greatest gift you can give yourself because one cannot enjoy life if he/she is unhealthy. In addition, we must not harm our health by running madly behind wealth. I would like to conclude my essay on the nice words of Mae West: “You only live once, but if you do it right, once is enough.”

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    Source by Muhammad Ashhar

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  • The Life of Ezra Pound by Noel Stock

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    A review of The Life of Ezra Pound by Noel Stock must begin by acknowledging the phenomenal achievement of its author. It is comprehensive, detailed, forensic, appreciative, critical and illuminating, a massive achievement of analysis, research and insight. At around 200,000 words it is also a commitment, not for the fainthearted or for anyone with only a passing interest in either poetry or the history of the twentieth century. But it is also something else, something that, despite the magnificence of its scholarship, provokes this reader to focus on issues that are external to the text, itself. But more of that later: first, the book.

    Ezra Pound was undeniably one of the greatest figures of twentieth century literature. Unlike his illustrious contemporaries and friends, however, Joyce, Eliot and Yeats among them, his name has seemed to slip from the mainstream since his death in 1972. I read his great achievement, the Cantos, when I was at college. I did not understand them. In some ways they feel less like a work of poetry than a lifetime achievement, a creatively conceived and sometimes over-presented commonplace book into which fell, in poetic form, a distillation, a reflection or sometimes mere mention of whatever disparate material that Pound obsessed over at the time. The Cantos were Pound’s creative life, but we must not forget the massive amount of other material, his journalism, music, prose and economics, for want of a more accurate word.

    Pound was one of the founders and movers of literary and artistic movements: Imagism and the Vorticism among them. They were perhaps not the most enduring of directions. He was American but seemed more at home in England and then Italy, neither of which chooses to honour his achievements on their soil. But what is strongly felt about this man from the start is his conviction of, perhaps his obsession with his own genius. He was utterly sure he would contribute to the arts and perhaps even change their direction. He seemed to consider his legacy immortal, even before it had been created. He felt he was something new, original and enduring. And all this when apparently no-one even wanted to read his material, or formally give him time of day. And not only did he seem to deny his failures, he didn’t even seem to register them. The limitations were always somewhere else. In the early years, he thus seemed like a self-publicist, with is achievements acknowledged before they were achieved, like a modern self-published author who writes five-star, best-seller reviews of his own work. Nowadays, that surely would never do!

    But eventually, perhaps by sheer dogged application alongside considerable talent, Pound received the recognition he thought he deserved, though perhaps never in our own contemporary, blunt instrument yardstick of success – sales. Certain academics loved him. Others did not. He himself had high hopes of a Nobel Prize.

    Noel Stock includes copious quotations from Pound’s verse, always with critical assessment, sometimes with criticism. The Cantos were so far reaching in their intellectual coverage that it may appear from the outside that no-one without the full gamut of requisite skills would understand them. And given that these skills comprise, amongst other things, a knowledge of Dante and medieval Italian poetry, Confucius, Mencius and Lao-Tze in the original Chinese, troubadour songs in their original langue d’oc, Noh theatre texts in Japanese, Pound’s own experimental English, besides knowledge of the Classics and their metres, one might presume that there might be few modern readers of his work. This is probably accurate. But there is more to the modern shunning of Pound’s work than its overtly elitist intellectual demands. And it is here that this review needs to diverge from literature, poetry and indeed Ezra Pound, himself, to address the related concepts of fascism and racism.

    The main reason why today Pound’s name remains passé is his espousal of fascist ideas and his overt antisemitism. He went to live in Italy. He regarded Mussolini as rather a good thing. In Italy at the time he was hardly alone in this belief. He adopted Hitler’s aggressive antisemitism because he was fundamentally opposed to capitalism, if it meant what he saw as a banking and economic system dominated by Jews, the foundation of this belief being a bank owned by the Rothchild family. He also took to broadcasting pro-fascist propaganda (in Italian and English) on radio during World War II.

    Normally, my reviews are consciously detached. I try to review the book, not myself. Likes and dislikes are, to me, wholly nebulous and indefinable and even passing whims that are always less significant than considerations of communication or achievement of ends. In the case of The Life of Ezra Pound, the subjective “I” must be included, since our appreciation or not of this poet’s writing now seems to depend wholly on our individual take on his politics, despite his being be neither analytical or pro-active in his views, as this biography clarifies. In some ways, his politics were as transient as his current interests, as expressed in the meanderings of the Cantos. But what now can we make of Pound? Should we even try to understand him? Is dismissal the preferred option? I would say that he is worth the effort. Not the use of “I”! And this is not because I think Pound is a particular genius, overlooked or even readable. And I certainly do not see his actions as pardonable! And here I beg your pardon for making this book review become something personal, something about me and not about the book, but I assure you it is relevant. Please exit here if you are wary of the personal.

    I remember in the recent past a well-known British television presenter saying on-air that the music of Wagner was not played in her household because of the composer´s antisemitism. I remember another celebrity saying that antisemitism was the flavour of Wager´s age, and that rejection of the composer´s work on those grounds alone ought to prompt a similar rejection of everything artistic or otherwise that came out of mid-nineteenth century German culture.

    In the not too distant past I re-read Adam Smith´s Wealth of Nations. In my review I concentrated on those aspects of the analysis that might contradict the completely neo-liberal interpretation of the work. I was perhaps wrong to do so, but I wanted to challenge the idea that there is just one way to read Smith´s notion of free trade. Embedded within Smith´s thesis, however, are assumptions about human progress and worthiness. The Hindoo, the Mussulman and even the Catholic have their place in history and civilisation, but the heathen is judged to be a primitive sub-human. I do not recall Smith referring to ´The Buddhist´, but that may be my own failure of memory. In today´s politics, how many of the neo-liberal, perhaps neo-conservative supporters of their own notions of Smith´s concepts of free trade also regard those not associated with an organised great religion as both uncivilised and sub-human? And, given that the assumption appears to run throughout the work, should that alone disqualify Smith´s views on other subjects or his contribution to economics? Another position that almost dominates sections of The Wealth of Nations is that there is no economic activity that is or could be greater than the total that describes the state. How many of these same free marketeers would share Smith´s oft-stated revulsion of the very idea of a transnational corporation, which he regarded as necessarily market-distorting and almost automatically corrupt? This is recognized in antitrust and anti-monopoly legislation, but how often is this side of Smith´s work quoted? My point here is that we can choose to be selective, and usually do.

    I am tempted here to introduce the composer Anton Webern into the argument. A member of the second Viennese School, Webern espoused the atonalism of his associate, Schoenberg. Webern was perhaps the artistic opposite of Ezra Pound, being prone to destructive self-criticism and a desire for an extreme succinctness of expression. But Webern, like Pound, thought that fascism might be more sympathetic towards “high art” to which he aspired than the mechanisms of capitalism that concentrated on what it could sell. He thus initially espoused fascism, eventually to his own and his associates´ cost.

    After this considerable diversion, there is eventually a moral, and that is to beware anyone touting answers, especially those based on interpretations of the past in anything other than its own terms. Which brings me to Brexit! It might seem quite a jump, but it does follow. Trust me!

    I have recent personal experience, albeit apocryphal, that suggests the prime motivation among the British working class leave voters who surely swung the referendum result was “getting rid of all the foreigners.” I use quotes to emphasise that this was expressed to me personally and verbatim, with stress on the “all”. I had just finished The Life of Ezra Pound and I felt immediately a strange yet strong link with Pound´s antisemitism, which was founded on nothing less than trying to find someone to blame.

    Perhaps we should not judge Wagner, Adam Smith or even Ezra Pound using the moral perspective of our own time. For if we did that, and rejected any espousal of either racism or religious bigotry, how much of our human past would we retain? And, given the above Brexit opinion, is the moral perspective of our time significantly different from that of the 1930s, or even the 1850s, or 1770s or indeed any other time in our conflict-ridden blame game of history?

    The Life of Ezra Pound is a forensic biography of a poet. It describes a life lived in its historical and cultural context. Like all books committed to communicating its subject, it is a masterpiece that takes the reader way beyond the confines of its subject and thereby achieves a permanent relevance. Revisit this past. We must never deny it existed or forget its consequences. But it reminds us that as individuals, communities and societies, there is no rule that precludes the repetition of error. And neither is there any rule that insists that a current moral ground need be any higher than any other existing folly, contemporary or past.

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    Source by Philip Spires

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