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Hold the Dollar Rule the World
By: Ida Byrd-Hill
Today, all Americans are engrossed with the news reports of the stock market decline. You’ve heard the news reports and said to yourself “ I’m glad I am not obsessed with money like the rest of the country.” The question you should be pondering is “Why is our country obsessed with the stock market?”
The stock market represents the bedrock of American society – capitalism. The stock Suppose an individual invested $1000 a year every year from 1925 to 2000 in companies that revolutionized the 20th century – AT&T, Ford, General Motors –, their estate would have grown to more than $$69,559,828. (This assumes no additional deposits and an average rate of return of 12.70%)
The average American enjoys enormous accumulation of wealth/capital/money via the stock market. This wealth/capital/money has given them freedom; hence they are very concerned about the upward and downward spiral of the market.
You are thinking “Freedom?! How can money bring freedom? We have freedom given to us by the Constitution.” Yes, we have implied freedom, yet the magnitude of freedom an individual or family enjoys can be directly related to their wealth ranking in society. This philosophy has been fundamental in America.
Case in Point #1 Ross Perot. Perot utilized his millions to establish a separate political party to steal Liberal Republican votes from George Bush causing him to lose his bid for presidential reelection. Could an ordinary person do that?
Case in Point #2 Oprah Winfrey. Who would have imagined that middle class, female Caucasians would hang on the every word of an African American spokesperson like Oprah. Their love for her has afforded her the title—“The Richest Woman in Showbiz.”
Despite the fact that all Americans have freedom, the degree of freedom is not the same. All of the individuals in these cases illustrated have the ultimate freedom to do what they want, when they want to, where they want to. In essence, if you “hold the dollar” you have the freedom to “rule your world.”
About the Author
Ida B. Byrd-Hill was the President of The Harvard Group Wealth Management L.L.C. for 10 years. She created investment portfolios, insurance plans and residential/ commercial financing. She is President of Livinginstyleonline.com. She has served as guest columnist for the Michigan Front Page for 2 years and a speaker for the Better Investing television show hosted by David Chilton, author of The Wealthy Barber.
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