Why Savers are Losers
Forwarded to me by a Naybob of Simian nature, an excellent diatribe by Robert Kiyosaki at Yahoo Finance on why the rich get richer.
A snipet: Robert's father "I fought in France during World War II. That's why I never forget that it was after the middle class lost their savings that Hitler came to power. People do irrational things when they lose their money."
Between 2000 and 2005 housing prices went through the roof. Oil went from $10 a barrel in 1997 to over $60 a barrel in 2005. Gold went from $275 an ounce in 1996 to over $475 an ounce in 2005.
In spite of all these increases in prices, the federal government's economists say, "Inflation is low. It's under control." They are allowed to say that because the government is charged with only monitoring inflation in consumer prices -- not asset prices.
Yahoo Finance
A snipet: Robert's father "I fought in France during World War II. That's why I never forget that it was after the middle class lost their savings that Hitler came to power. People do irrational things when they lose their money."
Between 2000 and 2005 housing prices went through the roof. Oil went from $10 a barrel in 1997 to over $60 a barrel in 2005. Gold went from $275 an ounce in 1996 to over $475 an ounce in 2005.
In spite of all these increases in prices, the federal government's economists say, "Inflation is low. It's under control." They are allowed to say that because the government is charged with only monitoring inflation in consumer prices -- not asset prices.
Yahoo Finance
Comments