Bits and pieces – Rich People, Social Security, Peugeot, Rural fires, Livestock

Here are a few items we’ve picked up this week:

* How the Richest 400 People in America Got So Rich – interesting analysis in The Atlantic magazine of top salaries over the past 20+ years. The best part though is how the author contradicts himself in the first six sentences!

In 1992, the 400th richest person in America made $24 million. / In 2007, the 400th richest person in America made $138 million (or $87 million, inflation-adjusted). / Now, that almost certainly wasn’t the same guy. There’s a lot of churn at the top of the money pyramid. In all of the 1990s, only 25% of the Fortunate 400 made more than one appearance. But the overall message is the same. The rich keep getting richer.[Ed. Uh, no. That’s not the overall message]

The author goes on to note that A. The amounts are mainly capital gains, money made from sale of appreciated stock, and B. In case that second sentence slipped by too quickly, in ten years, only one-quarter of the people listed in the top 400 appeared more than once. So, the other 75% WERE NOT GETTING RICHER, under this definition! Duh!

* Read Mish’s Global Economic trend Analysis  today – his posts on Social Security and French auto company Peugeot are important.

* Just in case there are still readers of this blog who think the government is their friend, (and don’t give IFO that cliche about police, fire and roads – those are local services), here is an email note from one Eastern Oregon ranch woman to another:

Yes there is a fire just outside of town.  It started nearly 25 miles away, but BLM’s backfires brought it to our door.  Total disregard for livestock, feed, and property.  Check out this video, http://www.youtube.com/watch?v=_6vA_wveeFk , and pass it on to whom ever.  They supposedly lit up more last night, big gambles and big risks they take.  Same thing is happening between Burns Junction and McDermitt on the Long Draw fire.  Hundreds of cattle lost and cowboys nearly burnt up trying to save cattle.  Just saw on the news that we are preparing to evacuate.  We won’t be evacuating just so you know.  I wouldn’t trust my place to the BLM to save.  Crazy times we live in for sure!
Thanks for thinking of us.  I’ll let you know if anything changes.
* * *

 

Now, don’t give us any BS about how well-intentioned the bureaucrats are, either. We’ve lived out here in the West for almost four decades and have seen the good staff replaced by bad, ideologically-driven staff. Their ideology? Humans are bad. Livestock is bad. No amount of evidence to the contrary notwithstanding.

We saw a professor almost lose his job when he published his well-documented research showing that cows walking through streams is actually GOOD for Salmon! Heresy!

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About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
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