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High Stakes

As for gun-carrying citizens on airplanes, our first contributor says:

“The reader who pointed out that most people couldn’t handle using their guns under extreme pressure is correct. Even seasoned hunters have been immobilized under stress, say from a charging boar. 

“I know I couldn’t be a hero… But for those intrepid and trained individuals like former battlefield soldiers or cops, carrying on a plane might be a very good precaution and save a lot of lives.”

Our next contributor: Intrepid? Check. Trained? Check. He’s got the chops — however…

  1. I have had ‘Combat Pistol’ classes several times at the State Police Training Center.
  1. I was elected law enforcement for many years and qualified yearly during that period.
  1. I have been on competition pistol teams and shot well.
  1. I practice almost weekly with a handgun and shoot very, very well.
  1. That being said, I do not want to — nor would I — carry a handgun on a plane even if it were legal.  

“I’m a lot better with a handgun than your average citizen but being armed on a plane is not in the best interest of anyone.”

Fair enough. That being said, I might pay extra to sit next to this guy on my next flight.

Your Rundown for Thursday, April 11, 2019:

Honey, I Shrunk the Middle Class!

We’ve picked on American billionaire Ray Dalio a little recently. Why not pile on more?

Last week at website Economic Principles, Dalio published a piece on capitalism and how it’s not working today for most Americans.

Gee, there’s nothing non-billionaires love more than being preached at by a sanctimonious, card-carrying member of the 0.01%. Harsh but true.

While Dalio’s observation is sound — the American middle class owns a smaller piece of the economic pie than over half century ago — he might be an objectionable messenger.

chart

From the chart, you can see the top 10% of American earners accounts for almost half of U.S. income.

According to Forbes, one reason for ballooning wealth relegated to top-tier earners: “Tax breaks for investors and property owners have helped concentrate wealth among the top 10%.” (More on this tomorrow.)

We leave you with this disturbing factoid about the economy in the land of the free: “The bottom 90% of U.S. earners take home a smaller share of income than do their counterparts in most industrial economies—including in far less free societies like China’s.”

Are taxes murdering the American middle class?

Market Rundown for Thurs. April 11, 2019

S&P 500 futures are up 3 points to 2,897.25.

Oil is down 54 cents to $64.07.

Gold’s lost $14.10 to $1,299.80.

Bitcoin is down $273.27 to $5,045.33.

Have a good day. We’ll talk tomorrow.

For the Rundown,

Aaron Gentzler

Aaron Gentzler

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Aaron Gentzler

Aaron Gentzler is the publisher of Seven Figure Publishing. He is also the editor of The Rundown. Aaron’s been with Agora Financial/Seven Figure Publishing for 13 years. He's been covering technology and markets for over a decade.

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