With the collapse of General Motors, many people are asking me if it would be good to buy GM stock, which is trading around $1. My answer is, “ABSOLUTELY NOT!” In fact I would rather go buy 100 lottery tickets than 100 shares of GM. I’m pretty comfortable saying it would probably be a better investment.

In a recent conversation the topic of government bailouts and the collapse of the financial industry came up. Some people feel that it was all a big hoax by the financial institutions. Others feel like the government shouldn’t have used tax dollars to bailout these institutions, and that it doesn’t make sense. After all, only 4% or mortgages were at risk of foreclosure. How could 4% take down the entire financial industry?

Many Americans are furious about all the bank and Big Corporate bailouts, and rightfully so. While the government is bailing out Wall Street, and keeping the big corporations afloat, the average individual gets nothing! Have you ever wondered why that is? Have you ever wondered why the government gives so many tax breaks to the rich, but not “the little guy?” Well here’s the answer:

Great transfers of wealth always take place during bad economic times. Money leaves those who lack the capacity to handle it and flows into the bank accounts of those who are prepared and willing to take action. While many people become fearful others see opportunity. And if you can spot the opportunities you could be greatly rewarded! That is why I’ve been telling people everywhere I speak that this is the best time to start your own business.

We have all heard the advice "save for a rainy day," but there is one problem with that. When you save for a rainy day, you will inevitably get a rainy day. Why not save for something better? The subconscious mind is an amazing thing. Whatever it is programmed with is what it looks for.

You don’t have to go very far these days to hear about all the bad news about the economy. Negativity is splashed across newspapers and magazines, and all you hear about on TV is recession, bailouts, and crooks. Isn’t it about time to look for some good news? I did a talk recently titled The 3 Good Things About This Economic Environment, and here are some of the things I talked about:

In an economy where people are cutting back on expenses as much as possible, it can create difficulties for businesses that offer products or services that may not be necessities. If you are in a business like this you have to do something to separate yourself from your competition. Customer loyalty is more important now than ever.

Last week the stock market had its best week of the year so far. Is this the rally that we have been looking for? Has the market finally bottomed? Here’s what to look for in the coming weeks:

Many people have asked me when I think the stock market will come back, if it will come back, and what they should do with what the have in the market. First of all the market is not going to come back anytime soon. With that said, it is no use whining about it and wishing it would. What you have to do now is look forward and decide what you are going to do with what you have.

People have been talking a lot about the Bernie Madoff Ponzi Scheme lately and the media has been covering it endlessly. The problem that most people are not talking about though is that it was lack of sophistication, lack of financial intelligence, and lack of responsibility.