Cosmic Accounting: Start NOW
After the influence of my rich dad, there was another man who changed my life. His name was Dr. Buckminster Fuller. Dr. Fuller — or Bucky as those close to him called him — helped me shift my mindset from selfish thoughts of luxury to realizing there is more to life than money.
Dr. Fuller is often called “The Planet’s Friendly Genius.” He is best known for designing the geodesic dome. In 1967, I hitchhiked from my school at Kings Point in New York to Montreal, Canada, which was hosting Expo ‘67. I especially wanted to see Dr. Fuller’s massive geodesic dome. It was unbelievable.
In 1981, I had the opportunity to study with Bucky for a week at a ski resort in Kirkwood, California. That week changed the direction of my life. I studied with him again in 1982 and 1983. He was teaching our class how to predict the future. Unfortunately, Bucky passed away a few weeks after that last event.
Bucky was known for many things. He was a scientist, an architect, a mathematician, and a futurist. Many of his predictions have come true with uncanny accuracy. He once said that when change went invisible, the speed of that change would increase exponentially — what he called accelerating acceleration.
In his lectures, Dr. Fuller talked about the pace of technology and how we were “entering the world of the invisible.” To him, technology was advancing so rapidly that many people were blind to it… and would be blindsided by it.
This is exactly what is happening right now…
Becoming Rich on Spaceship Earth… for Dummies
Green technology is taking off fast and quickly becoming more efficient than energy from coal, oil, and gas. But most people still don’t see it.
In 1976, Fuller said, “We now have four billion billionaires on Spaceship Earth who are entirely unaware of their good fortune,” reminding us that we live on an abundant planet he named Spaceship Earth. (When he said that, the population of our planet was just a tad smaller than it is now…)
Bucky used to say that our accounting system was all off. And he was right. I wrote a book about it. For those of you who know Rich Dad Poor Dad, at its heart, it’s about accounting.
Below is a quick refresher.
In Rich Dad Poor Dad I taught the Income statement as seen below:
This is the cash-flow pattern of an asset:
The top part of the diagram is an Income Statement, often called a Profit-and-Loss Statement. It measures income and expenses: money in and money out.
The lower part of the diagram is a Balance Sheet. It’s called that because it’s supposed to balance assets against liabilities.
Many financial novices do not know the relationship between the Income Statement and the Balance Sheet, and it is vital to understand that relationship if you want to be rich.
Assets put money in your pocket.
This is the cash-flow pattern of a liability:
Liabilities take money out of your pocket.
This is really all you need to know.
If you want to be rich, simply spend your life buying assets. If you want to be poor or middle class, spend your life buying liabilities.
Cosmic Accounting and the Earth’s Income Statement
Cosmic Accounting takes the same principles, only the income statement is not yours; it’s planet Earth’s, or as Bucky called it, Spaceship Earth.
For decades I’ve tried to marry the idea of energy and the Earth’s income statement. Why use energy for Earth’s income statement? Energy is the biggest product in the world. The problem is most of it’s being wasted. Energy is also the biggest industry in the world. Civilization runs on energy.
One of the reasons that Fuller said we have four billion billionaires is because the Sun, the Earth, the tides, the wind, are there for everybody. But the trouble is, without the proper education, you cannot tap into cosmic accounting.
As I mentioned earlier, I couldn’t figure out how to accurately create the Earth’s Income statement. That is until I met a genius named Marin Katusa. Katusa is quite possibly the most successful resource venture capitalist and fund manager in the U.S.
More importantly, Marin Katusa and I have come together as kindred spirits.
Because he figured out a way to end our environmental problems through Cosmic Accounting.
The Rise of America
In his lectures, Dr. Fuller talked about the pace of technology and how we were “entering the world of the invisible.” To him, technology was advancing so rapidly that many people were blind to it…and would be blindsided by it.
This is exactly what is happening right now as green technology is taking off so fast and quickly becoming more efficient than energy from coal, oil, and gas.
There is a catch.
Right now, even as fast as technology is progressing, we need the earth’s assets to create the technology needed to receive the “green” income God (or the Universe) is giving us. Thus, the asset column is generating the ability to receive in the income column.
This is where Katusa’s brilliance comes into the picture. No one could see the value of this Cosmic Accounting. No one could see the truth about the income geen energy was producing.
In a recent interview with Marin Katusa on The Rich Dad Radio show, he explains,
“The cost of green energy wasn’t economic. It wasn’t cheaper than natural gas or coal. 15 years ago, America got over 50% of its electricity from coal. Today, it’s down 50% from where it was 20 years ago. It’s going in the right direction… But now… Texas is the Saudi Arabia of wind farms. It is so cheap that a utility can’t compete from a natural gas standpoint or coal with wind farms. Yes, I get it, what happens when it’s not windy? Well, technology’s going to get to the point of utility-scale batteries. We’re going there. Don’t bet against human ingenuity and innovation. We’re getting there.”
I always hesitate to talk about the environment in the past, but Katusa is right. Green energy will be massively profitable. You don’t want to miss out on the ride up.
I think if Fuller was alive today, he would be ecstatic.
Play it smart,
Editor, Rich Dad Poor Dad Daily