Throughout our history – any country’s history – the people who save their money and invest for their future are the ones that you build an economy, a society, and a nation on.Jim Rogers on Punishing the Prudent in favor of Rescuing the Irresponsible.
In America, many people saved their money, put it aside, and didn’t buy four or five houses with no job and no money down. They did what most people would consider the right thing, and what historically has been the right thing. But now, unfortunately, those people are being wiped out, because they are getting 0% return, or virtually no return, on their savings and their investments. We’re wiping them out at the expense of people who went deeply into debt, people who did what most people would consider the wrong thing at the expense of people who did the right thing. This, long-term, has terrible consequences for any nation, any society, any economy.
Lost Cultural Battle - I do not expect to find wisdom in the New York Times, but David Brooks’ editorial on the Supreme Court decision summed up the situation really well. Here...
21 hours ago