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- @tevenski Yes, and you had just as much fun hitting a ball of light back and forth. At the time we all thought that was incredible. Just like kids use to have lots of fun staring at a radio listening to the Lone Ranger or Howdy Doody. It's just a function of what you know.
- Collapse of the dollar on May 28, 2016?
- Epistemological foundation for AE
- @KennedyFinance Just checked. Your account is up 40% since Jan. of 2016, but still down 2% since you opened it. You stated just before a big rise in the dollar, so your account initially fell by 30%. The dollar has surrendered those gains, and if I'm right its about to get killed.
- Gold is Doomed
- @realDonaldTrump If you really want to do something for the good of the country try cutting government spending. If you really want to make America great again, you have to make government small again.
- China Calls for New Global Reserve Currency to Replace Dollar @SchiffGold https://t.co/PmZH6Zr8SV
- "Income Inequality" - What Austrians Understand & Liberals Ignore
- July Consumer Confidence unexpectedly plunged to 90.9 from 99.8 in June, hitting its lowest level since Sept. 2014. Forecast was for 99.6.
- World Gold Council Gold Investor, WGC chief market strategist John Reade outlined several key reasons he thinks gold will shine in 2018. http://bit.ly/2zh9oF7
Thursday, May 12, 2016
The rich will get richer because return on investment
Most of leftist will say that, for example if someone has 20% of global wealth in a free economy there is no way he will loose it, nor he will stop being the richest person in the world, him or his sons. Cause he has to spend les % of money than anyone else so he can invest much more. I know this is not true based on empirical evidence, but I have a hard time rebutting this based solely on logic. I know someone can come up with an idea that will make a lot of wealth (google, apple...) but I'm not sure how generation after generation they can reduce this 20% if they invest in a diversified portfolio that give him a return, even if is 1% (with no inflation). Can anyone point me on the right direction? I have a theory although I'm not sure if it's true: The richest person will increase his purchasing power while reducing his net worth because the difficulty of successfully investing so much money (you can make a lot of return if you're poor and open a small company after you see a need for a particular market but this becomes increasingly difficult if you want the same return when you have a lot of money).