“As long as I live under the capitalistic system, I expect to have my life influenced by the demands of moneyed people. But I will be damned if I propose to be at the beck and call of every itinerant scoundrel who has two cents to invest in a postage stamp. This, sir, is my resignation.”– William Faulkner resigns from the Oxford, Miss., post office
“As long as I live under the capitalistic system, I expect to have my life influenced by the demands of moneyed people. But I will be damned if I propose to be at the beck and call of every itinerant scoundrel who has two cents to invest in a postage stamp. This, sir, is my resignation.”
– William Faulkner resigns from the Oxford, Miss., post office
One of the rarely cited advantages of having money is that you’re less beholden to others who have it too.
The more you have, at least in theory, the more you can ignore the other fellow with it and go about your business. Nor need you drink the same cocktail or rush to the same mall so you can outfit yourself in the same duds.
In short, with a little cash of your own… you can do what you want.
And the fellow who said “Money can’t buy happiness” had apparently not read The New York Times:
“Broadly speaking, the data now indicate that as people get richer, they report getting happier too. Though it’s not quite that simple. Justin Wolfers, an economist at the University of Michigan who helps advise the U.S. government on happiness statistics, told me that poor people in poor countries are not unhappy simply because they don’t have wads of cash. They are more likely to have fewer choices, more children who die in childbirth and other grave problems. And while wealthier nations are generally happier, there is no evidence, Wolfers says, that an artist would be happier if she became a hedge-fund trader.”
But we’re talking capital, not cash flow. The trouble with cash flow is that it doesn’t spring ab ovo, from nowhere. It comes to your hands from the greasy mitts of someone else. If they don’t keep the cash flowing, you may not have any. Unless you’re a government employee or a tenured professor, a job is just a job. You serve at the pleasure of others. If you give them displeasure, they can cut off your income.
Capital is different. If you have enough of it, you don’t have to work for anyone. You can go fishing, pick your teeth, and maintain unpatriotic opinions.
Capital frees you from politics too. According to the most recent numbers, nearly half of U.S. households now rely on other people’s money for some or all of their income. They are beneficiaries of one or more of the feds’ transfer programs. Money is taken from others; it is transferred to them, as if to a getaway car.
The feds even have the chutzpah to give the recipients of this stolen loot an electronic card called the “Independence Card.” Independent is exactly what these people aren’t. Instead, they are like feudal serfs, says Charles Hugh Smith.
“The core of American liberty is widespread private ownership of property,” he writes. If you want to be free, you have to have your hands on the “means of production.” Otherwise, you’ve got to learn to bend.
Imagine that you have zero equity in the house you own, he suggests. How free are you then?
Or imagine that you need to buy a house and need a mortgage. The mortgage market is almost 100% controlled by the feds. How free are you?
He does not mention it, but imagine that you rely on the feds for unemployment compensation, food stamps, health care, or Social Security? Are you a free man? Or a serf?
Smith says we live in a condition of creeping “neofeudalism.” A few people own a lot of property. Most own very little. His attention is focused on housing, where he believes the feds are quietly taking more and more property out of private hands and putting it in the hands of rich, concentrated elites.
He’s probably right about that. But it seems to us that even more neofeudalism is taking place right out in the open… where large groups now depend on the feds… and on Fed’s EZ money… to maintain their current standards of living.
Balance the federal budget? Stop the Fed’s printing presses? Let interest rates rise to a normal level? Forget it. The serfs can’t afford it.
[Ed. Note: The budget, Fed, and interest rates?!? Bill, you set it up so nicely for us!
Original article posted on Laissez-Faire Today
Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries. A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America's most respected authorities. Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally. With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance. Since 1999, Bill has been a daily contributor and the driving force behind The Daily Reckoning. Dice Have No Memory: Big Bets & Bad Economics from Paris to the Pampas, the newest book from Bill Bonner, is the definitive compendium of Bill's daily reckonings from more than a decade: 1999-2010.
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Glad your back Billy.
Some wag once said: “Life is like a grit sandwich. The more bread [that's "money" in hippie/beatnik lingo? Aren't you hep, man?] you have, the less grit you must eat.” [actually there is a word that rhymes with "grit", but decency forbids me to state it. I'm sure you can figure that one out for yourself!]
More to the point, Bonner always has some good points. Often not mentioned is that those who own government’s bonds and receive interest are, in a way, parasites on the system too. In theory, yes debt can be for good purpose, but anyone who’s looked at what government spends the money on has to question just how productive that spending was. In any case, I freely admit to being more of a grasshopper (retired, largely on a slice of the aforementioned interest income stream.) I try to take advantage of the “free” money any time it’s on offer. Who wouldn’t? I do pay lip service to small government … because I’m one of those who at least can hold “unpatriotic opinions!”
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We should become self reliant, free of money and live our lives as we truly wish, not in the hands of big money driven corporations. Yet easier said than done…
I guess that you could/should use the currency you might get from the government to buy physical gold and silver. This stops inflation, gives you insurance against economic disaster and gives you future wealth for yourself and your loved ones. That’s what I am doing…
This is a forward consumption based serfdom. Western citizens feel lucky to trade their primary asset, their labor and future earnings, to sharecrop a domiciliary and depreciating vehicles for 40-60 years. This is generally their best case scenario.
Bankers and capitalists are the Parker Bros monopoly holders of the exchange medium. When the system gets saturated, either a guy like Bernanke appears to keep the serf employment and asset-debt system going, or employment takes the form of standing armies and global war.
TENIS + PRINTING = TUNIS
? + ! = 666
Money brings Freedom. I must most heartily endorse Bill’s claim here. I have worked hard to build up some capital and some non-employment income. A key reason for doing it is to have the freedom to not work (for an employer) if I choose to. For me, what has worked is saving up money and investing in good stocks at reasonable prices. I found it took about 20 years to really get good traction but after that things started taking off due to the power of compound returns. I just finished year 24 of investing.
Surf, indeed… time for me to get back in the water. Crikey, where’s my EBT card???
Me turzen benTlie, you Bahamas bananas.
More they watch, less they see.
i am collecting coins of loonies to have gambling without numbered taxes.
all taxes are going to new texas order from 1943. close to japan.
who was the fucking harikiri that did not have full hit.
W.B. is readin WSJ.
Pilgr. to Omh.
How he is giving money to his children?
New cards are, ot the red top 10, 1
On the blu bott. 1, 10
What is money?
There is no such thing as justic.
Skills you need today, HBP
Obed. to Auth.
pigrimame to wb’s omaha,
Yearly Barkshire letters to shareholders is editet by editor
of magazin Fortune lady.
o la, la…
He does not read it…. What.
Luxembourg-An emerg.cross-border metro.region
stefano caselli, stefano gatti
banking for family business.
a new chalenge for wealth management.
cards: 9 9 9 9
wait until solution come.
“The Lonely crowd’
Italinn ( 1 out 6 in fam.coll.)
Russ. in June.
Canto. hard to find.
6.3% union wages rise over 3 yrs in Sweden
Wages 40% above Germany
IKEA boss is shoping with ordinary people.
Doing humanitarian works.
CHALMERS is VERY good shool for tech. knowl.
No fees for some. ( EU ). I am there at the same time as here. )
1 000 000 e for Sunce ( Sun ) Hotel in NEUM.
Only almost empy castle of comm. elite ( Tito, ,,,,)
Close to Raguza, on the left,
on the right clean see, nude beach at Zivogosce,
Marija can take lessens with Serbedzija in Rijeka,
one friday it could last 5 min,
next 8 hrs withour break.Testing nervs.
He is on BRIONI with Andjelina Joli.
Bred Pitt is designer/architect.
Brion are of Emperors of Austria,
not far from Venice.
cards: KKK, 9999
iT WILL BE
Septembar, critical month for
a good solution
the non-desogner’s design book, robin williams
10, 10 10, 10
0n 8th 1111,
m must say somthing
on 9th, 1111
am. money wanted in eu.
Slovenija is out of the game.
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10, 10, 10
10 10 10 10
today we have 2 solution.
8 is the max.
after that flash royal.
safe as heaven…
some like it hot
now to make them go their way
9 red squer
1 black orthodox,
we 7 heart,
they q pik, we j heart,
1 red sq,
“imp. q. of $, ……”
it is open his treas. ”
with russians is next link.
I miss Bill Bonner, where did he go???
fast train dm to oslo, in discution
30 kg gold, briliants….etc…
christina fernadez was in rome buying golld too…
few years ago.
asas, 46 + 12 x 25
samsung 46 + 12 x 25
Must see. ( Se, Fr. flags )
rf. to JEWS in black
see you in July,
Aussi, …., Mare, di si bila…( Dalm. idiomat. expr. )
(Where have you been Mary)
Too y. f. ME
But she can be dother tm my son.
Why is stone in the story…..
carol bin laden
my life in sa.
Yslam, brother, iPhone…
homework for maria
card trics mathematics.
crc on rs in la’
pelafonija = jag vet inte.
fall of croats in bosnia.
and Pope is not French…
Outllet is going back to country side Quebec where
he destroyed local church…
Scale of wants.
Moslowor similar, and total quantum of wealth.
But, sharp is.
D. R. , We Don’t Know.
I know smth else…
When they think
there is smth
Nothing. There is nothing.
Wht thy think
there is nothing
alwys, alw. there is Smth.
( track nr. 10, for family album, canciones de mi padre
Beckovic to smb.
Why youa are
Why you are s.
I do not know.
Then don’t be.
Kill me I do not want.
it is matija beckovic
( born again ortodox )
shootin movie with monica beluci,
feedin snake to save helmet,
after stop everybody killed exept him.
ghost writter could be.
or 1 out of 1000000000….plots in a book
abaout plots in movies ( cca 15$ )
first news in glas srpske
3 dys ago
need for brifins?
i am paid alrd.
“In short, with a little cash of your own… you can do what you want.”
not exactly. with cash you can get OTHERS to do what YOU want. but only if they need it, of course, so in effect freedom means getting cash while keeping others from getting cash too.
Kusturica out of game.
Mecavnik soon for sale.
ih spehe dojc.
(fonetik, profesi is still in the game.
Dojce vil kom to Merilanad, with all
some things can not be changed…
ted levitt, on marketing
why business always loses.
one of a kind.. unn.edu.ng
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