dudejcb wrote:Is this news to you? The conspiracy of the well-heeled to scam those not so well off. NEWSFLASH! This has been one of my main bitches on DHC!
Kiyosaki, however, is a proponent of "passive income," which is making money through investments rather than real work. This boook sounds like a tell all. I suppose we all like money we don't have to work for, but chasing it doggedly without adding value in the process is one of our national problems that has brought us to where we are now. Go figure.
Maybe you could cut and paste the bombshell in chapter 3, so I won't have to use any of the money I made through work, so he can make it his... passively.
No, I think we tend to agree, as your note goes on to say further down. It's one thing to invest in the development of a new product and make money, or to inviest and have your stock values rise. But it's quite another thing to manipulate the markets to make a stock go up one day and then sell the next before it goes down just ot skim and add no value to the system. this is what large investors do and have done and it is why we have booms and crashes rather than steady growth with reasonable adjustments.Indaswamp wrote:Dude, you have just shown me your ignorance of how capitalism works. That's fine...it seems to be an epidemic in this country. To each his own. Smart money makes money off dumb money....
Yes I agree. this is what capitalism should be. Even Adam Smith warned against the potenital excesses of unrestratined capitalism.Indaswamp wrote:When an entrepreneur creates a product that makes a task easier-i.e. (the washing machine)...he is creating value-not only by the product he invents, but also by the people he employs. Making a honest profit in this manner is what this country was founded on...freedom to live your own life as well off or as poor as you like. I have no problem with people making an honest profit..
Yes. ditto.Indaswamp wrote:I do have a problem with ultra wealthy individuals manipulating our money supply, fleecing purchasing power from every individual in our country by devaluing our currency, lending our money to totalitarian dictators to start wars for a profit. .
Yes, but not so much gamblers as Gamblers who rig the game. When you and all your "investor pals" buy and sell in near unison, they as a group, can swing the market (manipulate) up or down as they buy and sell making money in either case.Indaswamp wrote:People whom try to "chase it doggedly without adding value in the process..." are not euntrepreneurs...they are gamblers, following the greater fool theory. They seldom succeed in the long run...they will win now and again in a rising market, but eventually the law of averages catches up with them and they loose and give it all back to the market-as it should be. These people are partly responsible for where we are at in this crisis...but not entirely. A large percentage of it lays squarely at the feet of those involved in the derivatives market...primarily our big banks."]
Yes, but not so much gamblers as Gamblers who rig the game. When you and all your "investor pals" buy and sell in near unison, they as a group, can swing the market (manipulate) up or down as they buy and sell making money in either case.
After the Great Depression we put smart regulation and oversight systems in place and had fairly continuous growth for 50 years. Then in the '80s along came the Reagan machine talking about how evil the government was, and they started to remove regulations and oversight. almost immediately we had the S&L debacle, then the tech boom, and now the meltdown. all in about 20-years. GENIUS!
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