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Government Gone Wild

Government Gone Wild cover image
Government Gone Wild cover image Government Gone Wild cover image Government Gone Wild cover image
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by: Dr. Benjamin Robert Sill
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Publication Date: December 12, 2019
Book Size: 6" x 9"
Pages: 350
Binding: Perfect Bound
Color: Black and White
ISBN: 9780997264647
$19.95

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Book Synopsis
As prevalent as “Wall Street greed” is, and as nasty and evil as most in the industry are (just like the rest of us), nothing has changed over time. Wall Street is always greedy, only with the means to do something about it. The rich getting more than their fair share is nothing new, it's been going on since the beginning of time. The only thing that might be of interest to us is we are now very near the top of the list of greedy regimes. An important point to note is that even though two wrongs do not make a right, “Greed” has no time boundaries either. It has been going on since the beginning of time: Rome, the Byzantine Empire, England in 1688, India in 1750, Spain in 1752, Mexico in 1790, India in 1801, England in 1801 the Kingdom of Naples in 1811, Brazil in 1872, China in 1880 and India in 1947 (U.S. Bureau of Labor Statistics. , 2015). No doubt there are many more. People — rich and poor — are always greedy. But they don’t always have a system put in place for them that encourages debt and favors investors over working people. It was the Federal Reserve and the government who made it possible for the rich to get richer. This system really took off after Nixon took us off the gold standard. It seems to be getting worse with every Federal Reserve chairmen.
Without the requirement for backing by gold after 1971 there was an explosion of credit. Credit is handled by the credit industry (banking and Wall Street), so they found themselves in a favorable position. The middle and lower classes lose out because they went in debt to buy things. The rich who owned stocks and bonds got richer. Profits in the financial industry quadrupled from 1970 to 2007. Salaries in the financial industry also increased dramatically.
As most institutions mature, they gradually shift from existing to serve their constituents; to manipulation by and self-preservation of those who control them. The people become entrenched and resists any change that would diminish their power and wealth. The process becomes very parasitic and drains resources away from production.
In reading anyone's research, it pays to remember that even with the documentation, it's only someone's subjective opinion. Opinions can be wrong. Use your own good judgment and take everything with a grain of salt. “Everybody who's saying 'buy stocks' today or ‘buy real estate' is, I think, setting up people to get really hurt," says Robert Prechter (TSK News, 2009), who believes the bear market rally is reaching a major top." We had a great opportunity when the S&P was at 667" says Prechter. "The market is up 60% and there's no way the S&P is going up 60% from here" (TSK). The market promptly went to 2000, another 100% gain. One of the really scary things about today's economic world is that people like Prechter make perfect sense, yet are still wrong. Opinions can be wrong.
“The outlook for economic recovery is questionable, at best…which means that the outlook for rising share prices is even more questionable,” said Joel Bowman in 2010. This for the next time you decide to listen to some financial writing hack. Just one more. It is hard to take a side on the argument about the damage caused to the Russian stocks due to the drop in oil and the sanctions. Will it go back up? Probably, but that doesn't help you if you got in just in time to take the loss.

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About The Author
Author bio image
The author was a college professor for many years, with experience teaching numerous management courses. Prior to that he worked for IBM, several banks and securities firms, and owned a number of small businesses.
Professor Sill is a scientist and a manager. Maybe even a little salesman, judging from his public speaking abilities. Above all, a leader.
His education consists of an MBA from Hood College and Doctoral research in Strategy at Ecole Superieure de Commerce de Grenoble in France, Henley Management College in England and Newcastle University in England.
Bob is currently retired and a widower. Spending time with, and encouraging, his two grown children is a pleasure and priority.
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