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overtheedge
Member since May 2012
680 commentaries - 6 followers

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Beware of packaged thinking

- George F. Smith - Barbarous Relic

Good article, however you slipped up here with this general statement that is false.

"The Fed inflates over and over, and the ones connected to it get richer, over and over, while the ones least connected to it get impoverished, over and over. "

Tis been my observation that those furthest from the spigot (the 99%) electively misspend, malinvest and malappropriate their earnings by considering much of their income as discretionary. Otherwise, it would be impossible for a subset within this low income demographic to accumulate wealth each month and, outside of recurring monthly bill, remain out of non-productive debt.

There is nothing secret about accumulating wealth*. It is a life-style choice few are willing to make.
Instant gratification usually has a much higher selling price, but cheap and easy financing is available.

* Free download of almost 90 year old read that explains wealth accumulation practices.
"Richest Man in Babylon", George S Clason
No. No link. Do your own due diligence (and web search).

Commented 3668 days ago

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Beginning of the headline :Doing the same thing over and over again and expecting different results is colloquially defined as insanity, per a quote attributed to Albert Einstein.Call me insane, but I wince whenever I hear this.As a rule of thumb it’s fine but it can be slippery.I’m reminded of another quote from the Greek philosopher Heraclitus who is alleged to have said, “A man cannot step into the same river twice, for it is not the same river and he is not the same man.” Heraclitus, in other words, would say it is... Read More

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