I don’t always read my quote of the day — how do they even get up there? It’s magic! But did you see yesterday’s?
There are two ideas of government. There are those who believe that, if you will only legislate to make the well-to-do prosperous, their prosperity will leak through on those below. The Democratic idea, however, has been that if you legislate to make the masses prosperous, their prosperity will find its way up through every class which rests upon them. — William Jennings Bryan, 1896
Isn’t it amazing how long we’ve known this? And that so many of “the masses” have somehow been persuaded otherwise?
Yet if you look back, the economy and the stock market both do better under Democratic administrations than under Republican — the stock market rather astoundingly so. I don’t know whether Henry Ford was a Democrat or a Republican, just that he was a raging anti-Semite (see: The International Jew: The World’s Foremost Problem), but when it came to his idea of paying his workers more than the minimum he could have gotten away with, so they could afford to buy the cars they were making, he was right. As is Nick Hanauer a century later, in that must-see, must-share clip I keep linking to.
MY BROTHER’S KEEPER
Did you get to watch the President’s speech yesterday? Imagine how much better our country would be if a much higher proportion of young black boys got the support and opportunities they needed to grow up to lead wonderful, productive, successful lives.
Quote of the Day
That I'm their competition.~Famed hedge fund manager Michael Steinhardt, when asked the most important thing an investor could learn from him.
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