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Not Exactly. The Kennedy fortune was made by Joseph Kennedy, the father of John and Teddy. Joseph Kennedy was the front man for J.P. Morgan, the banker, who also bankrolled Thomas Edison. Kennedy would start rumors on stock hikes for stocks Morgan owned a lot of, then they would sell high. He would also bad mouth stocks that Morgan wanted to buy, driving the stocks up. He became known as the 'Wolf of Wall Street'. The original. Much of this sort of manipulation became illegal in the late 1920's and early 1930's. Joseph Kennedy always operated just inside the law. When Prohibition was repealed, Kennedy was the US Ambassador to Great Britain. He got that job to get him out of Wall Street. It is rumored that he was responsible for the crash
Not Exactly. The Kennedy fortune was made by Joseph Kennedy, the father of John and Teddy. Joseph Kennedy was the front man for J.P. Morgan, the banker, who also bankrolled Thomas Edison. Kennedy would start rumors on stock hikes for stocks Morgan owned a lot of, then they would sell high. He would also bad mouth stocks that Morgan wanted to buy, driving the stocks up. He became known as the 'Wolf of Wall Street'. The original. Much of this sort of manipulation became illegal in the late 1920's and early 1930's. Joseph Kennedy always operated just inside the law. When Prohibition was repealed, Kennedy was the US Ambassador to Great Britain. He got that job to get him out of Wall Street. It is rumored that he was responsible for the crash
Something like it has been done. In the 1890's the Tennessee legislature passed a law making Pi equal to exactly 3. It was all based on some popular preachers take on Exodus giving the dimensions of the Ark of the Covenant. The Bible was right, to one place, Pi is 3. To two places it is 3.1. To three places it is 3.14, and so on. The preachers problem was that he didn't understand the limits of measurement. The problem with the law was that it couldn't be enforced. It was repealed later. Natural Laws aren't repeal-able, or enforceable. They just are.
is something that the Rich know that the Poor don't know. You should never have more cash then the amount necessary to take care of your reasonable needs and wants. Use the rest to produce more for everyone. Even if you can only invest $5.00 per month, it's better for you if you do. Always budget to spend less than you make. Always try to improve yourself. Always try to invest something in some way. That is the difference between the rich and the poor. Those that don't will become poor, even if they start out rich. Those that do will grow richer, even if they start poor.
Yes! a person or a corporation can have too much cash. A few even do. Put that cash to work. Don't stuff it in a mattress, don't burn it. If you buy tools to practice your profession or art, that is an investment. If you start a company that employs people and produces a product or service that others are willing to pay for, and that covers your business expenses, that is an investment. If you buy stocks or bonds that enable others to expand or continue a business, that is an investment. You may not have enough wealth, but you can have too much cash. Remember, cash, money that is, is only a way of counting stuff. Using it to increase the amount of stuff for everyone is the proper use of money. That . . .
In response to:

California’s One-Man Laffer Curve

BobIsBob Wrote: Jan 29, 2013 2:09 PM
No, "Fair" in politics, like on a school playground means "I got what I wanted".
In response to:

Free Trade Cheats Americans

BobIsBob Wrote: Jan 29, 2013 1:43 PM
The grandson of the Buggy Whip Maker became an airline pilot, something his father didn't believe was possible. It wasn't possible when a horse was the fastest way to travel. I wonder what the grandson of the automobile assembly line worker will become?
In response to:

Free Trade Cheats Americans

BobIsBob Wrote: Jan 29, 2013 1:41 PM
(continued) In Manufacturing, in 2010, only about 30% are working in manufacturing. That number will continue to decline. However, the total output in farming is higher than it has ever been. The total output in manufacturing is only a little below where it's high was, and is climbing. Yes, a lot of jobs have moved in manufacturing to other countries, but more of them have been eliminated by using different manufacturing techniques. That trend is only going to continue. The next generation of factories will only need about 2/3 as many workers. This will free up the economy to use the extra workers in doing things that cannot be done today, but, doing that will take time. That's just as it was in the past, too.
In response to:

Free Trade Cheats Americans

BobIsBob Wrote: Jan 29, 2013 1:36 PM
You lose sight of the time factor. Manufacturing is and from the late 1700s has been about replacing manual labor with machines. Today this is Automation. Prior to the late 1700's the majority of people were farmers living just barely above a subsistence level. The Industrial Revolution, early on made it possible for a farmer to produce more for the same labor effort. This led to a large throng of former farmers flocking to cities. These are the people who staffed the factories, but, doing that took a generation. In 1790, 80% of Americans were living an agrarian life. Small farms were the rule. In 1950, less than 20% were farming. The majority, close to 60% worked in factories. In 2010, just over 10% were working in farming. In. . .
In response to:

Social Security Cliff in Sight

BobIsBob Wrote: Jan 19, 2013 5:38 PM
No, there is a plan, and it has been done before. President Carter faced the same dilemma in 1978. His solution was to simply print enough money to pay all the interest and continue to fund the deficits. Then, inflation cut the actual value of the bonds in half. Obama will do the same thing (is doing the same thing), for the simple reason that he has no other choice. Of course, that will make the interest rates on new bonds soar, but that problem is for 3 years from now, which will make the total debt soar. Social Security benefits will drop, as the stated (admitted) inflation rate is always well below the real inflation rate. There will probably also be raises to the retirement age, and SS tax hikes also.
The economics of scale play out here. The larger the organization, the less efficient it is. The Federal Government is the largest organization on Earth. If it runs health care, then the overhead costs will rise well beyond anything you see today.
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