http://www.dailyreckoning.com.au/modern-politics-3/2007/04/04/ An independent perspective on the Australian and global investment markets Sat, 21 Nov 2009 17:27:32 -0600 http://wordpress.org/?v=2.8 hourly 1 http://www.dailyreckoning.com.au/modern-politics-3/2007/04/04/comment-page-1/#comment-1919 Chris. Fulker Wed, 04 Apr 2007 05:21:31 +0000 http://www.dailyreckoning.com.au/modern-politics-3/2007/04/04/#comment-1919 I once read a book by a certain Jerome Schneider in which there was a lot of rubbishy fluff - but one gem - something to the effect of "...there are two kinds of people in the US; those who save their money, invest and eventually become rich, and those who waste it, spend it, lose it and stay poor". He went on to say that those who produce more wealth than they consume are vastly outnumbered by those who only consume and the latter masses have the political power and DO vote for redistributionist politicians. Thus we drift forward toward unparalleled catastrophe - either a (fast or slow) revolution or a continuation of the authoritarian statism we see in much of the West. I once read a book by a certain Jerome Schneider in which there was a lot of rubbishy fluff - but one gem - something to the effect of "...there are two kinds of people in the US; those who save their money, invest and eventually become rich, and those who waste it, spend it, lose it and stay poor". He went on to say that those who produce more wealth than they consume are vastly outnumbered by those who only consume and the latter masses have the political power and DO vote for redistributionist politicians.
Thus we drift forward toward unparalleled catastrophe - either a (fast or slow) revolution or a continuation of the authoritarian statism we see in much of the West.

]]>