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- As Dan Kurz of DK Analytics points out, the federal government would have a difficult time even paying the interest on the debt in a “normalized” interest rate environment. http://bit.ly/2imzvbt http://bit.ly/2k7GtkT
- Discussion forum: The Continuing Relevance of Anthony de Jasay | by Christopher J. Coyne (Sept. 3, 2015)
- Securing Better Money Through Currency Competition
- China, as well as other countries including Russia, desperately want to reduce their dependence on the dollar. http://bit.ly/2y4vbEo
- A Rush to Judge Gold
- Chris Martenson of http://bit.ly/2qZEIV8 called the current US and global financial system "deeply unfair." http://bit.ly/2pk1Jpt
- Top Economists Are Backing Sen. Bernie Sanders on Establishing a $15 an Hour Minimum Wage
- More Fed flops this week. See what new antics they’ve been up to in #FedUpFriday: https://t.co/4mSAvOz3m9
- Science Isn’t Broken. It’s just a hell of a lot harder than we give it credit for. | by Christie Aschwanden. "..headlines that read 'weak, unreplicated study finds tenuous link between certain vegetables and cancer risk' don’t fly off the newsstands.."
- I spent a lot of time watching coverage on CNBC as the market plummeted. Everybody acted shocked. If they had listened to my podcast last week, they wouldn’t have been surprised. They would have expected it. http://bit.ly/2BeVwQz
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).