Posts Tagged ‘wealth’

In an address to an overflow meeting in an adjacent hall, Lloyd George defiantly declared that amendments proposed by the Lords to the Finance Bill would not be accepted. The speech was well received by his audience and by Liberal supporters throughout the country. Predictably, it provoked wrathful protests from the Unionists, and also from the King; three days later Prime Minister Asquith found King Edward VII in a state of ‘great agitation and annoyance in consequence of [Lloyd George's] Limehouse speech. I have never known him more irritated, or more difficult to appease, though I did my best’.

In preparing his Limehouse speech, Lloyd George had two principal aims: to demonstrate the justice and fairness of his Budget proposals, and to warn the Unionists of their potential vulnerability should they reject it. Limehouse itself did not cause rejection of the People’s Budget, but it did strengthen the antagonism of those already opposed to it. Its rejection by the House of Lords led to a constitutional crisis and two general elections in 1910.

J. Graham Jones

“…..It is rather a shame for a rich country like ours – probably the richest in the world, if not the richest the world has ever seen, that it should allow those who have toiled all their days to end in penury and possibly starvation. It is rather hard that an old workman should have to find his way to the gates of the tomb, bleeding and footsore, through the brambles and thorns of poverty. We cut a new path for him, an easier one, a pleasanter one, through fields of waving corn. We are raising money to pay for the new road, aye, and to widen it, so that 200,000 paupers shall be able to join in the march. There are so many in the country blessed by Providence with great wealth, and if there are amongst them men who grudge out of their riches a fair contribution towards the less fortunate of their fellow-countrymen they are very shabby rich men. We propose to do more by means of the Budget. We are raising money to provide against the evils and the sufferings that follow from unemployment. We are raising money for the purpose of assisting our great friendly societies to provide for the sick and the widows and orphans. We are providing money to enable us to develop the resources of our own land. I do not believe any fair-minded man would challenge the justice and the fairness of the objects which we have in view in raising this money.

But there are some of them who say, ‘The taxes themselves are unjust, unfair, unequal, oppressive notably so the land taxes’. They are engaged, not merely in the House of Commons, but outside the House of Commons, in assailing these taxes with a concentrated and sustained ferocity which will not allow even a comma to escape with its life. Now, are these taxes really so wicked? Let us examine them…
…Let us take first of all the tax on undeveloped land and on increment.
Not far from here, not so many years ago, between the Lea and the Thames you had hundreds of acres of land which was not very useful even for agricultural purposes. In the main it was a sodden marsh. The commerce and the trade of London increased under Free Trade, the tonnage of your shipping went up by hundreds of thousands of tons and by millions; labour was attracted from all parts of the country to cope with all this trade and business which was done here. What happened? There was no housing accommodation. This Port of London became overcrowded, and the population overflowed. That was the opportunity of the owners of the marsh. All that land became valuable building land, and land which used to be rented at £2 or £3 an acre has been selling within the last few years at £2,000 an acre, £3,000 an acre, £6,000 an acre, £8,000 an acre. Who created that increment? Who made that golden swamp? Was it the landlord? Was it his energy? Was it his brains – a very bad look out for the place if it were – his forethought? It was purely the combined efforts of all the people engaged in the trade and commerce of the Port of London – trader, merchant, shipowner, dock labourer, workman, everybody except the landlord. Now, you follow that transaction. Land worth £2 or £3 an acre running up to thousands. ( To be Cont’d)

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News of March 14,2012: $38.5 million lotto winner cheated co-workers out of jackpot, court rules.
Americo Lopes and his co-workers at a New Jersey construction company took part in a lottery pool going back to 2007. But in 2009, when Lopes discovered he had the winning Mega Millions ticket, he claimed to have purchased the winning numbers on his own, rather than as part of the company pool.
After a unanimous jury decision on Wednesday, Lopes must now pay each co-worker a pretax $2 million from the jackpot, according to a spokeswoman for the Superior Court in Elizabeth, New Jersey.
The Star-Ledger reports that Lopes left the courtroom saying in Portuguese, “they robbed me.”
This is a classic example of human nature. Man looks at things like wealth and fails to see the point of a fair deal. Lopes didn’t know what a million was till the ticket won. He knew it was his when a number on a slip of paper opened the door to millions. What does he do but claim it was all his? Such sudden amnesia cannot be cured by medicine but by a court and lawyers who all have their place in the society owing to the particular failing.
It is his failing that he can shortchange his memory, reasoning and his own humanity on something like money that is patently not his own. He is a trustee even he has earned it by sweat of his brow. Money is merely a test that he shall not shortchange the nobility of humanity by it. It is like man who values his name shall not demean it for a handful of silver. Integrity of man is to show his humanity a little more clear under all occasions. He says,’I am a man and this money must show my humanity worthy of me’. So he puts it to good use for himself and family and in its judicious use he also betters the community about him.
I have enough money and it must remain where it ought and not rule my head.
People like Lopes, Alan R Stanford think they have said goodbye to insecurity uncertainty of future and they shall give themselves a makeover. Wealth sometimes gives people peculiar notions. Senor Lopes suddenly realized his co-workers who put up money for the ticket were not the kind he should be seen with. He could be hobnobbing with jet set and go all over the world on shopping spree. He doesn’t realize these fellows who are flying around are trying to escape from their own silly selves and have no time for him. All they could think of avoiding the reality of their zero-life is by accumulating branded items,- things to distract themselves.
For those who want to know some hard facts here is some news.
That’s according to a new study by researchers at the University of Kentucky, the University of Pittsburgh and the Vanderbilt University Law School. The paper appears in a forthcoming issue of the Review of Economics and Statistics.

“I’ve always been interested in whether you could solve people’s problems to some extent by giving them additional cash,” says Mark Hoekstra, assistant economics professor at Pittsburgh, who co-authored the paper with Kentucky’s Scott Hankins and Vanderbilt’s Paige Marta Skiba. “And anecdotally you always hear these things about lottery winners — someone wins a bunch of money and the story doesn’t end very well. But we weren’t aware of any real empirical evidence on whether this was true.”

The researchers identified 35,000 people who won between $600 and $150,000 in Florida’s Fantasy 5 lottery game from April 1993 through November 2002. (They eliminated the 153 people who won more than $150,000). They cross-referenced that list with people who filed Chapter 7 or Chapter 13 petitions in Florida five years prior to winning the lottery and five years afterward. Then they compared people who received $50,000 to $150,000 to those who won less than $10,000.

They found 1,943 winners — or 5.5 percent — declared bankruptcy within five years of taking home the jackpot. While the bigger winners were 50 percent less likely than small winners to file for bankruptcy within 24 months, they were more likely to file for bankruptcy three to five years after winning. The net result is that within five years, large winners were just as likely to file for bankruptcy as small winners.

Winning the lottery has been a mixed blessing for a number of past winners. It is not the beginning or the end of the world. As a trustee handle it properly. Winning a lottery can also make it occasion to know your self better: Money for man and not man for money.


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The longer it takes to create wealth to foot the bill of those adolescent fancies less sorry you are if you are still cash strapped. Money has lost its glitter as maturity kicks in. Wisdom sets your expectations on a better footing that you can still pay your way through life.
When you are a senior citizen wealth holds more meanings than what you began with.
I can looking back say my expectations were more than amply met and I stand astonished not to have thought before life requires so little to make me happy. Paradox of life is however different.
More you grow older you miss that you didn’t set so much in store for your stamina and spirit when these were in full flow. When I first time visited in 1989 National Gallery in London I walked miles staring at the paintings intently. I did it for so many days. One day I restrained myself. ‘Eyes shall never be satisfied; nor the ears. So stop!’ Now wherever I see a museum I am not asking myself if there be some great master or even something I can feast eyes on. Instead I dread a little,’My knees may not hold up.’ So I am an armchair cultural tourist these days.

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Dynamics of Wealth©

Wealth is what gives power to an individual or as groups so they have freedom of action more than without it. For our primitive ancestor what he hunted and gathered were wealth; it provided for the family, clans and brought him rewards. As hunter-gatherer he commanded higher prize and won the hand of choicest girl.
Barter system was wealth by which he could trade what he had surplus with another. Such wealth had another plus point. It satisfied his social needs in meeting others and catching up with news. It made him realize what was plenty and scarce commodities could earn him better returns if he sold them right. Wealth was indeed power where local knowledge, contacts and ingenuity made him a vital entity.
Progress meant man could make wealth speak for him not merely in his level of knowledge or intrinsic worth but in the wares he could unearth or put them up for bartering. Cowry shells, beans, beads were all novelties that fetched price that made him feel adequately compensated.
Gradually it had to be placed on some standard where wealth acquired a symbolic value.
First piece of money was used in Lydia and coinage system bearing a royal stamp gave it a value that was only perceived and valid only within the kingdom. Money has no value in itself so paper or plasic could do equally well.
Dynamics of wealth took force in fulfilling the social needs of man. It was created by man for man. It was the wave of future. Inversion Principle shows in the manner it created haves and have-nots.

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News on the March
Irish tycoon ordered to repay bank record $560 mln-AP News
Sean Quinn was once the richest man in Ireland till he was declared a bankrupt. He had found the easiest way to reach where he wanted to be. Only that he wanted to land into a life of ease and all the luxuries the wealth could provide him. He mistook a turnstile for his home and it was his mistake. He passed through this turnstile to be declared a bankrupt. He may not know but there is a regular stampede outside to take his place and they have no clue what is going on really within.
How does the rich turn poor? For the simple reason there is no trick to juggle with figures,- and lo and behold you are a billionaire on paper, and it is what we see these days since greed is good has been declared as a mantra for the fellows who never did a day’s honest work. They were latched onto a single idea,- and so engrossed in it were they to train their hands to learn a useful trade or master some art or crafts. In all probability they would have let down those who had high hopes on them and, their teachers, dear ones who saw in them something precious. The great men in hurry are so seized with their own goals that they might fail to make some one else happy by giving something genuinely their own. Love as always is swallowed up in greed. Citizen Kane for example is a good example.
It is also quite possible they may have not felt a single emotion in their adult lives.
See one who is ambitious to make riches by playing in stocks? In the stock market the greater fool theory has already tagged him to play a fool. Naturally he acquires all the trappings of wealth on credit and when he is really shown for what he is, everything he had amassed also are taken from him. He has simply missed life, which was the greatest gift he had in the first place to call his own. John Ruskin rightly wrote ‘There is no wealth but life.’(Unto This Last)
When you see paper billionaires turn aside lest you should be taken along with these insubstantial men of shadows. We ought to be concerned with life and not false shadows that cannot substitute for life.
Tail Piece:
Tomorrow is is the Thanksgiving Day- Let Turkey be freed from fear of another quake and Greece not drip from the Euro-plate. Keep precious China out of the table.

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The fat capitalist had its face pinched with mounting woes. It thought it could knock at the door of the ants and get help. So it waded through thick snow even as army of ants from abroad were converging there. Those ants hit by natural calamities knew the ants in so and so county were unaffected. To the incessant knockings of the grasshopper a door opened. The ant asked why had it come to them. The grasshopper narrated its difficulties.
The ant said it could not spare anything. ‘We are expecting great many mouths to feed.’ The ant said that the ants from all the affected counties were approaching them for help.
‘Workers of the world, unite! so says the Book,’ said the ant,’So our surplus should go to feed them. And not you.’
‘Why not me?’ asked the grasshopper,’ We belong to the same county. Where is your patriotism?’ The ant knew the grasshopper in spreading its wealth around and investing abroad to escape tax at home was merely fooling itself. ‘My patriotism is right where it belongs and it isn’t something we need to concern right now.’
The grasshopper turned away sadly but not wiser by its experience.

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