Summary of P. J. O'Rourke's Eat the Rich , livre ebook

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33 pages

English

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Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 Humans have a difficult time understanding economics, and this is because we are constantly concerned with the three main issues of life: love, death, and money. We are constantly studying and thinking about these matters.
#2 We are earnest scholars of amorosity and necrosis, but when it comes to economics, we become vague and fidgety. We don’t seem to mind where our money comes from or where it goes. We simply wish we had more money.
#3 Our reactions to cash are crazy even when the cash belongs to strangers. We don’t ridicule people for dying, but we can work ourselves into a fit of rage when a man gets rich quickly and we don’t understand how he did it.
#4 The 1970s was a time of economic change and fever inflation. The most powerful nations in the world had an amazing collection of economic nincompoops at their helm.

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Publié par	Everest Media LLC
Date de parution	24 mars 2022
Nombre de lectures	0
EAN13	9781669363811
Langue	English
Poids de l'ouvrage	1 Mo

Informations légales : prix de location à la page 0,0000€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

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Insights on P.J. O'Rourke's Eat the Rich
Contents Insights from Chapter 1 Insights from Chapter 2 Insights from Chapter 3 Insights from Chapter 4 Insights from Chapter 5 Insights from Chapter 6 Insights from Chapter 7 Insights from Chapter 8 Insights from Chapter 9 Insights from Chapter 10 Insights from Chapter 11
Insights from Chapter 1

#1

Humans have a difficult time understanding economics, and this is because we are constantly concerned with the three main issues of life: love, death, and money. We are constantly studying and thinking about these matters.

#2

We are earnest scholars of amorosity and necrosis, but when it comes to economics, we become vague and fidgety. We don’t seem to mind where our money comes from or where it goes. We simply wish we had more money.

#3

Our reactions to cash are crazy even when the cash belongs to strangers. We don’t ridicule people for dying, but we can work ourselves into a fit of rage when a man gets rich quickly and we don’t understand how he did it.

#4

The 1970s was a time of economic change and fever inflation. The most powerful nations in the world had an amazing collection of economic nincompoops at their helm.

#5

I had covered politics for years, and I realized that money was to politicians what the eucalyptus tree is to koala bears: food, water, shelter, and something to crap on. I made a few of the normal journalistic squeaks about greed and self-interest, and let the thing slide.

#6

I was not reassured to learn that the men who run the companies where my 401(k)s are invested have minds filled with junk from the attic of Paul Samuelson’s Economics.

#7

I decided to visit different economic systems: free market, socialist, and systems that no one could figure out. I would visit economically successful societies and economically unsuccessful societies.
Insights from Chapter 2

#1

The New York Stock Exchange is the largest trading center for investments. The prices have been rising triumphantly, which is proof of free-market capitalism. But the triumph may not last long.

#2

The New York Stock Exchange is an example of how the stock market has changed. It has acquired a new, burnished, and lovable image. But we never really know these luminaries, and nobody knows the stock market.

#3

The stock market is enmeshed in rules. To sell even one share of stock in the United States, a corporation must file a full-disclosure statement, complying with the Securities Act of 1933. The law itself is 80 pages long with 400 additional pages of Securities and Exchange Commission regulations.

#4

The stock market, and the New York Stock Exchange in particular, is a place where people buy and sell stocks. It is not free, and you need a seat on the exchange to trade stocks.

#5

The trading crowd is made up of middle-aged men. They are there because of the specialist brokers. Each specialist has a location at a trading post, and every stock that’s listed on the NYSE is assigned to one specialist.

#6

The stock market is, in essence, a giant game of buy and sell. It is the Super Bowl of money. To be able to participate, you must be allowed on the trading floor. The average trader is dressed like a combination bank president, produce manager, and ghetto kid who lets his mom pick out his shoes.

#7

The stock market, in contrast to other free markets, is a happy place. It is a happy place even when everything is falling apart. All free markets are mysterious in their behavior, but the New York Stock Exchange contains a mystery that I never expected: transcendent bliss.

#8

The trading floor was spinning again. I felt desperation rising, and I began to gobble up take-out food standing up. For civilians, understanding financial markets is like taking calculus when they last took high-school practical math.

#9

There are two main types of investments: debt and equity. Debt is simply lending money. Equity is buying something from someone. You usually buy stock because you believe that it will be worth more in the future than it is worth now.

#10

When you buy a future, you’re actually making a third kind of investment that’s neither debt nor equity. What you’ve bought is a bargain that you’ve made. You’ve promised to pay or charge a certain price for a certain thing to be received or delivered at a certain time.

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Summary of P. J. O'Rourke's Eat the Rich , livre ebook

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