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Ustwo · 12-02-2005, 08:20 AM

One thing I've been trying to educate myself in is economics and wealth generation. I've come to realize just how little I knew about it, understood it, and that I was taught nothing about it in school. Even most MBA's seem to know nothing about it and they are basically bean counters. Those that do understand it become the reviled 'rich'.

So my question to you is this. If you are working pay check to pay check, if you are in credit card debt, if you can't pay all your bills, if you think your problem is you need a raise, what makes you qualified to think you understand the economy well enough to know what is 'good policy' is?

Who would you rather get investment advice from?

A university economist who has nothing beyond his schools pension/401k and pay check, or a guy who makes millions off his assets alone?

I can feel the responses right now. The rich just makes rules to make them richer, they can't be trusted, etc. Its true the rich like rules/laws that makes them richer, but it seems more laws are made to just punish the rich, voted by the masses of folks who can't figure out why its bad to put 9k on a credit card at 18.5% interest. They never DO punish the rich of course, the rich 'get it', they figure out how to maximize their investments and find the loop holes. They just punish themselves by making it harder to break out of the middle class. Income tax started only on the 'rich', which is how they overcame the anti-tax stance most Americans had back then, they made it someone elses problem. Well you see how well that worked out for the middle class.

The lack of financial education in this country is a travesty. I was in school longer than many of you reading this have been alive and in all that time I NEVER got any real classes on money and the economy. Never a plan for how to gain wealth, never a list things you shouldn't do. I had a few talks, but that was it. Plus of those few classes, who is teaching them? Self made millionaires or men who need to brown bag lunch? I was taught you need an education to get a good job, but most jobs, even high paid jobs, do not make you rich, they just let you pay more bills. You are still tied to that job, or you loose your car, your credit, and your biggest "asset" (HA!) your house. The school system does not train good employers but good employees. When the next depression hits, it is going to be due to peoples lack of education about money that causes it.

Rather than think 'I wish I had that kind of money' or get jealous, I've been studying how the game works and what makes one wealthy. They know how to play the game, and you don't learn how to play well by watching the losers.

I've come to trust the rich.

12-02-2005, 08:20 AM	#1 (permalink)
Ustwo Pissing in the cornflakes	I trust the rich One thing I've been trying to educate myself in is economics and wealth generation. I've come to realize just how little I knew about it, understood it, and that I was taught nothing about it in school. Even most MBA's seem to know nothing about it and they are basically bean counters. Those that do understand it become the reviled 'rich'. So my question to you is this. If you are working pay check to pay check, if you are in credit card debt, if you can't pay all your bills, if you think your problem is you need a raise, what makes you qualified to think you understand the economy well enough to know what is 'good policy' is? Who would you rather get investment advice from? A university economist who has nothing beyond his schools pension/401k and pay check, or a guy who makes millions off his assets alone? I can feel the responses right now. The rich just makes rules to make them richer, they can't be trusted, etc. Its true the rich like rules/laws that makes them richer, but it seems more laws are made to just punish the rich, voted by the masses of folks who can't figure out why its bad to put 9k on a credit card at 18.5% interest. They never DO punish the rich of course, the rich 'get it', they figure out how to maximize their investments and find the loop holes. They just punish themselves by making it harder to break out of the middle class. Income tax started only on the 'rich', which is how they overcame the anti-tax stance most Americans had back then, they made it someone elses problem. Well you see how well that worked out for the middle class. The lack of financial education in this country is a travesty. I was in school longer than many of you reading this have been alive and in all that time I NEVER got any real classes on money and the economy. Never a plan for how to gain wealth, never a list things you shouldn't do. I had a few talks, but that was it. Plus of those few classes, who is teaching them? Self made millionaires or men who need to brown bag lunch? I was taught you need an education to get a good job, but most jobs, even high paid jobs, do not make you rich, they just let you pay more bills. You are still tied to that job, or you loose your car, your credit, and your biggest "asset" (HA!) your house. The school system does not train good employers but good employees. When the next depression hits, it is going to be due to peoples lack of education about money that causes it. Rather than think 'I wish I had that kind of money' or get jealous, I've been studying how the game works and what makes one wealthy. They know how to play the game, and you don't learn how to play well by watching the losers. I've come to trust the rich. __________________ Agents of the enemies who hold office in our own government, who attempt to eliminate our "freedoms" and our "right to know" are posting among us, I fear.....on this very forum. - host Obama - Know a Man by the friends he keeps.