If you are not yet, “I can live off the simple interest on my savings rich”, meaning with your home and cars paid off, your free cash flow in the bank generates an income of at least US$150,000, you absolutely need to read this post.
You see, the Rich have an ongoing scam that they practice for justifying why it is they should get richer, and others poorer.
The Evidence there must be a scam?
All of the statistics show the gap between the Rich and the Middle Class just keeps on getting larger and larger. Well, if the rich are getting away with this in a country such as the United States of America, there must be some underlying rationalizing scam.
Personally, I think the scam runs somewhat as follows.
Suppose Mr. A does shady deals. If Mr. A can get Mr. B to do more of shady deals than himself, if there exists karma — and believe me if the rich did not believe in karma they would not be philanthropists — well Mr. B accrues more bad karma than Mr. A.
Now suppose that Mr. A is super rich and Mr. B, Middle Class. Not only does Mr. A have less of bad karma, he also has more capital for weathering bad karma. When markets and the economy go down, Mr. A can park his monies in the commercial banks, weather the storm, live off interest as large as US$1 million a year. Mr. A also can buy assets at dirt cheap prices. Mr. Middle Class B? Perhaps draws down on his retirement account, depletes his principal.
The next time the rich through their cronies, or by their own selves sell you philosophies that typically should generate bad karma, know one thing, this is a scam, a scam that makes it easier for the rich to become richer, a scam that leaves the unsuspecting middle class who are not colluding with the rich depleting their resources.
The rich get richer, the Middle Class are left scrambling for new sources of capital, in presence of their desperation, get set up for the next ‘crypto currency' craze.
If the gap between the Rich and not-so-rich is to close up, the Middle Class must stop falling for the scams of the rich, scams that may be perpetrated by their own selves or their cronies.
The next elections provide the Middle Class with opportunity to mitigate the probability that they again are left behind, are left holding the empty bags created by the rich.