Investors And Jobs
Badtux asks the basic question: Do ‘the rich’ create jobs?
MalWart is recognized as the world’s largest retailer, and is worth billions. If you read about Sam Walton and the building of his company, one of the things you will learn is that Wall Street wasn’t involved until after it was already a rapidly expanding empire. The ‘initial stock offering’ was Sam Walton selling stock to friends and neighbors, not a big bell-ringing ceremony involving investment bankers.
After a market downturn, a journalist asked Sam Walton what it was like to lose a billion dollars. He replied that he didn’t lose anything – that money never really existed. A lot of people learned that lesson during the global meltdown when their ‘million dollar house’ lost its value almost overnight, as did their 401K.
‘The rich’ aren’t investors, they’re gamblers, Wall Street is one of casinos they frequent. The only thing they actually invest in are Treasury bills. Of course the Treasury bills could be used to create jobs repairing infrastructure, but the political parties don’t want to do it.
December 5, 2013 6 Comments
Europe Gets Mugged
The BBC reports on weather: European storm and tidal surge cause evacuations and travel chaos.
Just a winter storm with winds up to 142mph [228kph] in Scotland, the surge gates on the Thames, and in the Netherlands were closed to reduce flooding from the wind-driven tidal surge. Trucks blown off roads, trees uprooted, thousands in the dark — just a winter storm.
Not much different than a major hurricane … except it is cold to make people even more miserable.
December 5, 2013 Comments Off on Europe Gets Mugged
