Do you think that any of these nutty protesters have the brains to acutally earn their own “big money”. How long did it take for you to quit laughing?
Dennis Gartman is the editor and founder of “The Gartman Letter,” a daily newsletter with financial commentary sent to subscribers by 6:00 am EST (11:00 GMT) each work day.
Gartman founded the newsletter, based in Suffolk, Virginia, in 1987.
Mr. Gartman graduated with a bachelor’s degree from The University of Akron in 1972 and a master’s degree from North Carolina State University.
He is part of the Investment Committee of the North Carolina State University.
He has previously worked at A.G. Becker & Company as chief futures analyst, and at the Virginia National Bank running their futures brokerage division.
Sources: The Gartman Letters, University of Akron, Bloomberg, and CNBC
The economist describes an encounter in Toronto when a reporter asked him a “left of center” question about inequality.
Gartman says his answer “caught the reporter wholly off guard,” for he didn’t give the standard, political response. Here’s what he said instead:
We celebrate income disparity and we applaud the growing margins between the bottom 20% of American society and the upper 20% for it is evidence of what has made America a great country. It is the chance to have a huge income… to make something of one’s self; to begin a business and become a millionaire legally and on one’s own that separates the US from most other nations of the world. Do we feel bad for the growing gap between the rich and the poor in the U.S.? Of course not; we celebrate it, for we were poor once and we are reasonably wealthy now. We did it on our own, by the sheer dint of will, tenacity, street smarts and the like. That is why immigrants come to the U.S.: to join the disparate income earners at the upper levels of society and to leave poverty behind. Income inequality? Give us a break. God bless income disparity and those who have succeeded, and shame upon the OWS crowd who take us to task for our success and wallow in their own failure. Income disparity? Feh! What we despise is government that imposes rules that prohibit or make it difficult to make even more money; to employ even more people; to give even more sums to the charities of our choice. That is what we despise… oh, and next question please.
Obviously the protesters and their progressive liberal supporters in the lamestream media don’t understand the “unfairness of it all” — do you think everybody has the same brain power? And how should we fix that problem??? In most commie/socialist countries they use the most effective people, they kill lots of the smart people, thinning the gene pool. Which I have heard several times is what the liberal/progressives went.
The top 1% of Americans takes home over 20% of the income — more than any time since the Roaring Twenties
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