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re: Creating Wealth and the people you know who have it ...
Posted on 3/22/09 at 9:31 pm to Fat Man
Posted on 3/22/09 at 9:31 pm to Fat Man
quote:
e specifically, someone sacrificed, sort of grandpa worked two jobs. One generation set up the next generation
I think that it comes back to the 'greatest generation', & what they did following WWII. The economy was booming, home ownership increased, GI bill, plus a believe in savings learned from the Great Depression.
It was not only the wealth that they were able to pass on, but also the opportunities they provided. Their daughters were really the first to enter the workforce on such a large scale.
Posted on 3/23/09 at 4:58 am to TigerintheNO
The greatest acheivment of the 'greatest generation' was their good fortune to have intelligent leaders that were not completely controlled by corporations and especially, corporations constructing military hardware. Ike warned of this looming problem upon his retirement.
As someone above mentioned, it did not hurt that these Americans were emerging from the great depression and knew the importance of savings. Their capital from excess labor earned during WW2 was diverted into purchases of war bonds during the war, so American corporations had a large pool of capital to draw from at the end of WW2 when manufacturers retooled and expanded for post war production. In addition, some of the savings accumulated during WW2 was available for consumption after the war.
It did not hurt America's prospects that the remainder of the world's manufacturing economies were in ruin at the end of WW2. We were the last man standing.
I am not trying to take anything away from the accomplishments of the 'greatest generation', simply pointing out that they worked their way out of dire straits under leadership that did more good than harm.
As someone above mentioned, it did not hurt that these Americans were emerging from the great depression and knew the importance of savings. Their capital from excess labor earned during WW2 was diverted into purchases of war bonds during the war, so American corporations had a large pool of capital to draw from at the end of WW2 when manufacturers retooled and expanded for post war production. In addition, some of the savings accumulated during WW2 was available for consumption after the war.
It did not hurt America's prospects that the remainder of the world's manufacturing economies were in ruin at the end of WW2. We were the last man standing.
I am not trying to take anything away from the accomplishments of the 'greatest generation', simply pointing out that they worked their way out of dire straits under leadership that did more good than harm.
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