Investing in America
A long, long time ago - when the Logical Husband and I were relative newlyweds, we had to roll over an 401(k) plan and a employee stock purchase plan. The Logical Husband had only been employed by his employer a little over a year when he was offered a better job, in the same industry, for a larger salary. Because there were only a years worth of contributions into the 401(k)/ESOP the roll over was not that big. Thankfully, for us, there was Chuck.
"Perhaps no one on the globe has come to symbolize the rise of the investor class in America in recent decades more than Charles Schwab.
When Mr. Schwab, or "Chuck," as nearly everyone calls him, opened his first brokerage office in 1971, the stock market was pretty much the exclusive sandbox of the richest 5-10% of Americans. Today, thanks in no small part to his company's financial market innovations, investing has been thoroughly "democratized," as he puts it, with more than half of working class adults now owners of stock.
Creating wealth is what Mr. Schwab has come to regard as his "life's pursuit." He's accomplished that not just for himself--his stake in the company is estimated at $4 billion--but also for the millions of small investors who first came to be owner-capitalists by opening a Schwab account. So who better to discuss the future of financial markets and investing than the man who revolutionized the brokerage business? "
The premise of business was simple.
"...He replies that the stock market today is "an open tent for anybody to come into." Ever the salesman, he adds: "For as little as a thousand dollars, you can open an account at Schwab. I mean, it's not a big barrier to entry."
With that first minimal roll-over, the Logical Husband and I became investors. At first we really didn't know what we were doing, but with a lot of patience and a couple of financial advisors who really wanted to teach us about the market (thanks PZ) we have learned and have managed to put a tidy sum into a college fund for the Junior Logician and a retirement fund. Today that is all in danger.
"Hillary proposed a simple idea to help end the cycle of dependence: put some of the oil industry's windfall profits into a fund that would help develop practical new sources of renewable energy."
Oh sure it sounds nice - take those "windfall profits" and put them into renewable energy, but where do you think those "windfall profits" normally go? They GO to the share holders. They go to toward growing YOUR 401(k) plan and mine. Those "windfall" and "excess" profits are your retirement fund.
Senator Clinton will tell you that she is doing this to reduce the price of gasoline, however, if she really wanted to do that, she would help make it easier for oil companies to build refineries. That way the next time that a hurricane or a flood comes around, the price would not jump thirty cents a gallon becaue of a shortage in supply.
"Perhaps no one on the globe has come to symbolize the rise of the investor class in America in recent decades more than Charles Schwab.
When Mr. Schwab, or "Chuck," as nearly everyone calls him, opened his first brokerage office in 1971, the stock market was pretty much the exclusive sandbox of the richest 5-10% of Americans. Today, thanks in no small part to his company's financial market innovations, investing has been thoroughly "democratized," as he puts it, with more than half of working class adults now owners of stock.
Creating wealth is what Mr. Schwab has come to regard as his "life's pursuit." He's accomplished that not just for himself--his stake in the company is estimated at $4 billion--but also for the millions of small investors who first came to be owner-capitalists by opening a Schwab account. So who better to discuss the future of financial markets and investing than the man who revolutionized the brokerage business? "
The premise of business was simple.
"...He replies that the stock market today is "an open tent for anybody to come into." Ever the salesman, he adds: "For as little as a thousand dollars, you can open an account at Schwab. I mean, it's not a big barrier to entry."
With that first minimal roll-over, the Logical Husband and I became investors. At first we really didn't know what we were doing, but with a lot of patience and a couple of financial advisors who really wanted to teach us about the market (thanks PZ) we have learned and have managed to put a tidy sum into a college fund for the Junior Logician and a retirement fund. Today that is all in danger.
"Hillary proposed a simple idea to help end the cycle of dependence: put some of the oil industry's windfall profits into a fund that would help develop practical new sources of renewable energy."
Oh sure it sounds nice - take those "windfall profits" and put them into renewable energy, but where do you think those "windfall profits" normally go? They GO to the share holders. They go to toward growing YOUR 401(k) plan and mine. Those "windfall" and "excess" profits are your retirement fund.
Senator Clinton will tell you that she is doing this to reduce the price of gasoline, however, if she really wanted to do that, she would help make it easier for oil companies to build refineries. That way the next time that a hurricane or a flood comes around, the price would not jump thirty cents a gallon becaue of a shortage in supply.
Labels: Ethanol Fraud, Senator Hillary Clinton
posted by The Lady Logician at
8:12 PM
1 Comments:
You forgot to mention the marvelous plan to add a dollar or two of "carbon tax" to the price of gasoline to reduce fuel use and combat global warming. It would reduce fuel use, that's true. It wouldn't mean diddly to global warming because CO2 isn't the cause of it. But the worst part of the idea is that the GOVERNMENT would get the revenue and fritter it away, rather than having private energy industries putting it into finding new energy sources. It's counterproductive. Leave government out of it and the cost of energy WILL rise, giving industry incentives to find more of the old sources and invent the new ones-- like MHD from garbage.
J. Ewing
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Anonymous, at 9:51 AM
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