Palestinian Refugees Heading to America
To the surprise of none, President Joe Biden is considering allowing Palestinians to seek refuge in America. Technically, they could already come here; anyone and everyone could come here, as [...]
How the Rich Make Their Money
QUESTION:
Good Sir,
When you say the ‘rich get rich by investments, not wages’ you fail to identify the following wealthy class.
CEO’s of corporations, ‘Hollywood’ movie stars, Sports athletes, Recording artists, etc.
Regards and continued success,
An avid follower
LB
ANSWER: There are always exceptions, but those who receive big bonuses or high wages such as sports and movie stars are a tiny fraction of what they call the “rich.” The “rich” are defined as households with income in excess of $250,000. The “rich” who have built wealth from creating businesses and investment are really 99% of that class. The movie stars and sports figures are paid salaries based upon their draw. Many others in Hollywood get base salaries and a percentage of the box office take. The CEOs get bonuses based upon performance.
The government takes Social Security and places restrictions whereby it can only invest in government bonds. This deprives the average person from making appreciable capital gains.
Latest Posts
The UK Will Deport Migrants to Rwanda
Prime Minister Rishi Sunak finally has the power to bypass the European Union courts and tackle the UK’s migrant crisis. About 1,843 illegal immigrants crossed into the UK in 2019, [...]
US Home Prices Nearing All-Time Highs
Home prices in the US are near all-time highs. As I repeatedly stated, we can no longer look at real estate on the national level. Demand and value are contained [...]
Market Talk – May 2, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 37.98 points or -0.10% to 38,236.07 Shanghai closed Hang Seng increased 444.10 points or [...]
