Greenspan Didn’t Ask Me The resounding message from the Federal Reserve is that higher interest rates will continue. Alan Greenspan didn’t call me and ask for my opinion. He didn’t ask the owner of my dry cleaning service who is experiencing price increases every week from her suppliers, what she thinks. Alan didn’t ask all the people laid off this week for their opinion. Nor did Alan  interview the people displaced by Katrina to determine if an interest rate increase would help them long term. No, Alan and the Federal Reserve board  simply position the markets for higher interest rates because they state prices are rising and this inflation must be contained. Now it seems to me that prices are rising because of the dramatic increase in the price of oil. This increase is affecting the cost of driving, the cost of delivering physical products,  the cost of heating and cooling as well as the cost of  producing  many products either made with petroleum directly or using energy for production. I do not see how price increases linked to fuel increases are controllable by increasing interest rates. Higher interest rates increases the cost of doing business and that will accelerate loss of jobs, business closings and bankruptcies. Higher interest rates will reduce the spending power of the average consumer dependant on credit cards for buying gasoline, groceries and fast food. What is Answer? Well my personal view is to cut the size of all our governments (federal, state and local) in half, eliminate our current tax system and replace it with a consumption tax.  Now these changes are unlikely to be implemented anytime soon. After all, we are a nation that accepts laws that dictate personal behavior that is clearly outside the scope of government as written in the US Constitution.  Considering the complacency towards excessive government that prevails in this country, the practical actions concerned individuals and business owners can implement starting today include: Spend 80 % of your time focusing on ways to grow you income and 20% on actions you can take right now to contain your costs. Here is one example: Do you know how much money you spend each month on finance charges? What are you doing about it?  I spent about 2 hours evaluating the alternatives for doubling the size of a business based in Long Island, New York this week. After talking with the owner and giving him my best advise on the phone and in a letter, I concluded he would not test any of my ideas. Why? I don’t know. I just could tell he wouldn’t. I used to become very upset with people for not doing the obvious. No longer. Some people never will. That’s life. Part of this article is my opinion. It’s my article so I have the right to do that. Underlying my opinion are some facts. Here’s one…wasting time, money and energy will not move you down the path of prosperity. We waste a lot of time, money and energy in this country. That can be solved one person at time. For more guidance on the subject of time, money and energy I highly recommend www.simpleology.com developed by Mark Joyner. Wow what a program that is and a lot of the material is free. For ideas on how you can begin to focus on growing your income, I recommend www.totalmarketingsolutionsinc.com and www.localretailmarketing.com Be well and prosper, Steve Pohlit Business Development Consulting www.StevePohlit.com PS. For an uplifting message everyday, please register at www.tut.com . Steve Pohlit is a CPA has his MBA and has been the CFO of several major domestic and international companies. Today Steve is an expert business consultant focused on helping companies improve their business performance including growing profits, revenues and customers. For a FREE 6 week mini course where you will receive 10 easy to implement action steps guaranteed to increase business revenue in profits by at least 30% in the next 90 days, please visit www.StevePohlit.com  All articles published by Steve unless specifically restricted may be freely published with this resource box in tact.