Someone needed to say it...

The source for today’s rant is none other than our friend and resident Atlanta tightwad, Mr. Clark Howard. Please don’t think that calling him a “tightwad” is meant in a derogatory way, quite the opposite. Clark Howard has figured out every way in which the little guy, the not so little guy, and even the huge guy can save money, not lose so much to the government, and generally just live a richer life day to day. What’s more is unlike EF Hutton, Merrill Lynch and others; Clark Howard chooses to share his vast knowledge free of charge.

My reason for posting about dear Clark is how he opened his show today. He addressed something that we’ve all heard about, but few know the truth of. That being the state of America’s economy.

This is how he laid it out: We hear how well our economy is going from the President, parts of the Media (Fox News and other non-liberal outlets) and for some of us, our investment professionals. Now, there are many who look at this statement and just stand there, dumbfounded and pissed, pointing out that they’re always in a crunch for money, and so they think the economy is, therefore, in the toilet. Now, the disconnect is this: The strength of a nation’s economy is based on its ability to produce. As of now, America’s production is at all time highs, our interest rates are good, the stock market is up, and general commerce is at a healthy flow. This means that America’s economy on the national scale is great. Bravo. What he also said (and I like the way he put it) is that we are in a point in history where the very rich (the top 1% of the rich) control about 60% of all the wealth in America. He states “There is no good or evil, right or wrong to this, its part of a pattern”. Did you get that last part? It’s happened before in this country and others and will continue until such time as the capitalist system ceases to function. When you experience a period in history of massive innovation and technological change, the margin of wealth leans towards those who risk in order to gain. They are the few, and so the gains go to the few. This doesn’t mean that rich people are a part of a vast conspiracy to keep the little shop owner down, or to destroy the poor in favor of gaining more money. It’s a cycle, much like global warming (don’t get me started on that one).

For the income redistributionalists, the Marxists, the Communists, and anyone else who hates the capitalist system or can’t stand the fact that few people in America have what these 1% have, I entreat you, please read a book on finance. Learn something about what you’re talking about before you condemn an entire system of economics based on your inability to earn, spend, or otherwise exist under it. Those who would blame the President or laud the President for the strength or weakness of our nation’s economy are accomplishing 2 things. One: They are showing their base ignorance about this country’s economic system and Two: they are creating a falsity that bears over onto their fellow morons and perpetuates the myth into future generations of victimized, governmentally dependant sycophants. Keep in mind that since our government is so thorough in its money collecting habits, the top 1% also pay the vast majority of this nation’s taxes.

So let me just stand up and give a great big “Good Job” to Clark Howard, for having the guts to tell the truth when so many others would rather use a lie to further their agendas.

Just in case it sounds like I’m writing this in defense of the rich, well, I am. Good on’em for working hard and getting rich. I’m not there yet…

But I’m climbing as fast as I can.