Monday, August 15, 2011

The useful rich

As our rich, big 'O' of a President heads off again spending more taxpayer money on another publicity campaign and then another expensive vacation, let's remember at the turn of the last century, many rich were useful because they helped grow our economy by fostering innovation and providing jobs. Heinz, Vanderbilt, Mellon, Westinghouse, Frick, Morgan, Carnegie, Rockefeller - paved the true path to success by making others ( and themselves) successful. Judge Mellon, Andrew's father Thomas, said that "If he ( an inventor and/or entrepreneur) would furnish the energy and industry to operate the business and carry it on in his own name, I would become the silent partner with him and furnish the money necessary."

Thomas Mellon also observed that: "All the past history of the world goes to show that continued peace and prosperity produce luxury and idleness, which in turn corrupt the morals and deteriorate the character of the people." Our big 'O' of a President is proving to be the exemplar of narcissistic deterioration and a silent partner in the death of American greatness. His administration's - and I quote the Judge again - "ignorance of economic principles blinds our governing class to the evils of extravagance and undue public burdens, increasing the cost of living to rich and poor alike."

As early ( or late) as 1920 a Presidential candidate ran on the promise of a "return to normalcy," which meant honest money, sound finance and business free from arbitrary and unnecessary control.

Bring on the honest rich and a normal Presidential hopeful.

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