How to Get Rich Slowly

My Advice for a High School Student One Year Before Graduation

Gary North

Dec. 29, 2011

Here are some guidelines from a man who has made a lot of money, written a lot of books, and who is more productive today than at any time in his life at age 69.

1. Make a business plan for your life. Your entire career is a business plan. You should make one early. This must cover the following:

What do you want to accomplish?
How soon do you want to accomplish it?
How much are you willing to pay?
2. Stay out of consumer debt. Minimal debt is all right for a business, but only if you have a detailed business plan.

3. Never pay retail for anything with a price tag in triple digits. This especially includes college. //www.garynorth.com/public/372.cfm

4. Get into the job market immediately after graduation. If required, get a fast-food job, but if you do, learn everything about how to run it. Keep your eyes open. Do this with whatever job you get. If you can be mentored by someone who owns a business that makes $1,000,000+ a year, take that job.

5. Do not move into the first house you buy. Buy it as an investment. Use John Schaub’s approach. This will teach you how to buy. It will serve as your first step to a comfortable retirement. As Schaub’s former partner Jack Miller always said: “The best way to become a millionaire is to borrow a million dollars and have your renters pay it off.” He did this many times.

6. You can beat the competition if you do three things.

Do exactly what you promised.
Complete the project ahead of time.
Do it for the price you agreed to.
You may notice that there are applications of the three tasks in any business plan.

7. Compound growth is the key to success.

Conclusion. These 7 seemingly simple steps are not intuitive. Your peers do not understand more than two, and they will probably violate all of them. This will give you a lifetime competitive advantage. This advantage will increase over time, due to compound growth.

The lifetime plan is crucial. It gives you a set of goals. It motivates you to stick with the program, to “stay the course,” as President Reagan used to say. It lets you know how well you are doing. You should refer back to it on a regular schedule. Write down how well you are doing. Identify weak areas. Work on these areas. Put these notes in a file or folder. Refer back to it on a fixed schedule.

From GaryNorth.com, here.

Risk Killing Syrians with Chemicals in Retaliation for Assad Allegedly Killing Syrians with Chemicals? Sounds like Trump!

Trump’s Disastrous Syria Attack

Over the weekend, President Trump celebrated firing more than 100 missiles into Syria by Tweeting, “Mission Accomplished!” They say if you cannot learn from history you are condemned to repeat it. So I guess we are repeating it.

We all remember that “Mission Accomplished” was the banner behind then-President Bush as he gloated aboard a US navy ship that the war in Iraq had been won. After his “victory,” however, some 4,000 US military personnel were killed, perhaps a million Iraqis were killed, and the country’s infrastructure and social fabric were so badly destroyed that they probably can never be repaired.

Actually, there is much about the US attack on Syria that reminds us of Iraq.

With Iraq, the US moved in to start bombing before international inspectors had completed their mission to verify whether or not Saddam Hussein had weapons of mass destruction. Had they been allowed to complete their mission and verify that he did not, imagine the suffering, death, and destruction that could have been avoided. In Syria, the US decided to start bombing before the international inspectors were even allowed to start checking claims that Assad gassed his own people in Douma. Why? What was the rush? Was Washington afraid they might not find Assad guilty?

Who really benefits from US attacks on the Syrian government? There were reports that ISIS began making moves immediately after the air strikes. Do we really want to be al-Qaeda and ISIS’s airforce? Is that going to keep us safer? I remember when al-Qaeda was actually considered our enemy, not an ally in overthrowing the last secular government in the Middle East.

Will Syria’s Christians be better off after the recent US attack? Just over a week ago Christians celebrated Easter in Aleppo for the first time in years. What changed? The Syrian army kicked out al-Qaeda, which had been occupying the eastern part of the city. So no, Christians will be much worse off if our “moderate terrorists” take control of Syria.

If Syria really had sarin and other chemical weapons factories, does it make sense for the US to bomb the buildings and risk killing thousands by widely disbursing the poisons? Does it make sense to risk killing Syrian civilians with chemical weapons in retaliation for allegations that the Syrian government killed civilians with chemical weapons? No, it seems more like the phony “mobile WMD labs” we were told that Saddam Hussein had constructed.

If the US knew Syria was manufacturing chemical weapons in the buildings they bombed, why not notify the Organization for the Prevention of Chemical Weapons (OPCW)? The OPCW had certified the very building the US bombed as chemical weapons free not that long ago. Why not just call them up and ask them to check it out? After all, they were just arriving in the country as the US started bombing.

There are many more questions about President Trump’s terrible decision to again make war on Syria. For example, where is Congress? It was disgraceful to see Speaker Paul Ryan telling the President he needs no Congressional authorization to attack Syria. All Members of Congress take an oath to uphold and defend the Constitution and the Constitution says that only Congress can declare war. Does that oath mean nothing these days?

President Trump will come to regret the day he let the neocons take over his foreign policy. Their track record is abysmal. His attack on Syria was clearly illegal and should his party lose the House in November he may find his new fair-weather friends in the Democratic Party quickly turning foul.

Why Our Ruling Class Gets Away with Anything and Everything

In the wake of September 11, Glenn Greenwald emerged as the nation’s premier chronicler of the war that U.S. officials waged on the nation’s civil liberties under the pretext of battling terrorists. Persistent and technically skilled, he played a key role in unmasking shameless betrayals by government attorneys of their oath to uphold the law—exposing those who enabled the torture of prisoners, the introduction of a massive warrantless surveillance system, and the merciless war against loyal Americans who attempted to blow the whistle on such abuses. I put six questions to Greenwald about his new book, With Liberty and Justice for Somewhich examines the emerging doctrine of impunity for politically powerful elites in the United States:

1. You start your account of the doctrine of elite immunity in the United States with Gerald Ford’s decision to pardon Richard Nixon. How did this one decision, among the numerous incidents you describe, provide a point of rupture in the nation’s rule-of-law tradition?

American history is suffused with violations of equality before the law. The country was steeped in such violations at its founding. But even when this principle was being violated, its supremacy was also being affirmed: resoundingly and unanimously in the case of the founders. That the rule of law—not the rule of men—would reign supreme was one of the few real points of agreement among all the founders. Arguably it was the primary one.

There’s an obvious element of hypocrisy in this fact; espousing a principle that one simultaneously breaches in action is hypocrisy’s defining attribute. But there’s also a more positive side: the country’s vigorous embrace of the principle of equality before law enshrined it as aspiration. It became the guiding precept for how “progress” was understood, for how the union would be perfected.

And the most significant episodes of progress over the next two centuries—the emancipation of slaves, the ending of Jim Crow, the enfranchisement and liberation of women, vastly improved treatment for Native Americans and gay Americans—were animated by this ideal. That happened because “blind justice”—equality before law—was orthodoxy in American political culture. The principle was sacrosanct even when it was imperfectly applied.

The Ford pardon of Nixon changed that, radically and permanently. When President Ford went on national television to explain to an angry, skeptical citizenry why the most powerful political actor would be fully immunized for the felonies he got caught committing, Ford expressly rejected the rule of law. He paid lip service to its core principle—the “law is no respecter of persons”—but then tacked on a newly concocted amendment designed to gut that principle: “but the law is a respecter of reality.”

In other words, if—in the judgment of political leaders—it’s sufficiently disruptive, divisive, or distracting to hold powerful political officials accountable under the law on equal terms with ordinary Americans, then they should be exempt and the rule of law suspended, all in the name of political harmony, of “moving on.” But of course, it will always be divisive and distracting, by definition, to prosecute the most powerful political leaders, so Ford’s rationale, predictably, created a template for elite immunity.

The rationale for Ford’s pardon of Nixon was subsequently legitimized, and it created a precedent for shielding the most powerful elites from the consequences of their lawbreaking. The arguments Ford offered are the same ones now hauled out over and over whenever it is time to argue why the most powerful among us should not be held accountable: It’s not just for the good of the immunized criminal, but in the common good, to Look Forward, Not Backward. This direct assault on the rule of law was pioneered by the pardon of Richard Nixon.

2. ProPublica released, just last week, a study of the pardons process showing that a wealthy, politically connected white person may very well get a presidential pardon, but that blacks don’t get pardons, period. Is this more fodder for your thesis?

It’s almost impossible to write a book and not have something like this happen: one of the best pieces of evidence imaginable for your thesis emerges only after the book’s publication. That’s how I see the superb ProPublica study: as indescribably compelling support for the central argument of the book.

It would be one thing if the lawbreaking license I just described were available to everyone regardless of power or position. If ordinary Americans could avail themselves of this same line of reasoning when they get caught committing crimes—Officer, isn’t it better that we concentrate on the future rather than wallowing in recriminations over the past?—one could have debates about the virtues of leniency as a criminal-justice policy, but at least it wouldn’t implicate rule-of-law concerns. Everyone would be subjected to the same set of rules.

But that’s not what happens. The exact opposite takes place. The flip side of elite immunity is that ordinary Americans are subjected to the world’s largest and among its most merciless penal states. The U.S. imprisons more of its citizens by far than any other country on the planet, and for longer periods, for more trivial transgressions, and with less forgiveness than any country in the Western world. Many of these oppressive penal policies are racist in effect if not in design: particularly the drug war, which results in vastly disproportionate imprisonment rates for African-Americans and Latinos.

Pardons were designed to be a last resort for correcting grave injustices produced by the justice system. Instead, as the ProPublica study documents, they mirror and exacerbate those injustices. Even at that stage, how one is treated depends far more on who one is rather than what one has done. That is the precise antithesis of what the rule of law was designed to ensure.

3. Whistleblowers in the era of Bush and Obama have been fired, harassed, and prosecuted under statutes like the Espionage Act with a hitherto-unknown vigor, especially when their disclosures suggested that government officials committed serious crimes. Is this prosecutorial zeal driven by the same factors that have created elite immunity?

Unquestionably. Take the case of the NSA eavesdropping scandal, the clearest-cut case of criminality during the Bush years. So egregious was the wrongdoing that James Risen and Eric Lichtblau won the Pulitzer Prize for exposing it in the New York Times. Bush officials were caught behaving in the exact way the law criminalized: eavesdropping on Americans’ communications without warrants. And the statute imposed a penalty of five years in prison and/or a $10,000 fine for each offense.

Yet not a single Bush official responsible for those crimes was ever investigated, let alone prosecuted. The nation’s telecom giants, which independently broke laws written specifically to bar telecom–government cooperation in illegal spying, were retroactively immunized for their crimes by an act of Congress.

Nobody paid a price for the NSA scandal, except one person: Thomas Tamm, the mid-level DOJ lawyer who learned of the illegal program and, in an act of conscience, picked up the phone, called Lichtblau, and told him what he had learned. Unlike the criminals themselves, Tamm was investigated, harassed, rendered unemployed, forced to hire a lawyer, and ultimately driven into bankruptcy and serious psychological distress. The only person to suffer from the NSA scandal was the person who blew the whistle on it.

We see this over and over, and it’s what the Obama war on whistleblowers is all about. The only real, cognizable crime—the only one the Obama DOJ displays any real interest in punishing—is committed by those who expose elite criminality, not those who commit it. The attempt to prosecute WikiLeaks is driven by this same mindset.

4. In a speech he delivered recently in Osawatomie, Kansas, President Obama used Theodore Roosevelt’s concept of New Nationalism as a rhetorical foil. Do you agree that Roosevelt’s vision of a nation dedicated to “real democracy” sets the right tone for an age suffering from elitist triumphalism? And do you think Obama is likely, in a second term, to take any meaningful steps against the problems you describe in your book—particularly relating to accountability?

Many of the themes sounded in Obama’s Kansas speech were valid and appropriate, but that matters little. Obama is in campaign mode, and what he has convincingly demonstrated is that the inspiring, passionate speeches he delivers have little relationship to his actions.

There is zero basis for believing that Obama will change course on any of these matters in his second term. There is always another election ahead that apologists can cite to justify bad acts (You have to understand: it’s vital that Democrats win the 2014 midterms). And Obama has displayed no interest whatsoever in holding elites accountable for criminality: not just political actors, but financial elites as well.

If anything, it’s even more unlikely that he would hold elites accountable in his second term. In November, 2008, the New York Times explained why presidents have an incentive to shield their predecessors from prosecution: “Because every president eventually leaves office, incoming chief executives have an incentive to quash investigations into their predecessor’s tenure.” In other words, by shielding those who came before him, Obama ensures that he can commit crimes with impunity as well. That’s why all elites—political, financial, media—are motivated to defend and preserve this lawbreaking license for their class.

Continue reading…

From Harper’s Magazine, here.

How One Jew at the Kosel Stopped an Intermarriage

He Promised, by Reb Gutman Locks

He was on a Birthright trip. When I told him he had to marry a Jewish girl he told me that he was dating a non-Jewish girl whom he liked very much.

“We can’t go by what we like. Yes, we have to like the girl we marry, but that’s not enough. Our heads have to rule over our hearts.”

I showed him in the prayer he was reading that Hashem tells us not to follow our eyes and hearts for they will lead us astray. I explained how important it is for the Jewish people to survive and for his family to remain among us.

On and on I gave him reasons to marry only a Jewish girl.

After he read the Shema I had him go stand by the Kotel and pray for his family and then to ask Hashem to guide him in whom he should marry.

Some 10 minutes later he walked back and said that he was going to call up the non-Jewish girl and break off their relationship and that he would look for a Jewish girl to marry.

I said, “Make a promise to yourself that you will marry only a Jewish girl.”

I told him that Hashem had blessed him to make that decision and that he will be thankful his entire life.

“Come back next year with the girl.”

He smiled.

He said that he promised. Please G-d, he will remember.

Thank G-d, (hopefully) we saved a Jewish family from the disaster of intermarriage.

From MPaths, here.

The Prozbul Perversion

If One More Person Says “Prozbul”…

I have a vague recollection that the first time I heard the word ‘Prozbul’ was in December 1969 at the International USY Convention in Buffalo. The subject was ‘The Sabbath’ and the thrust of many of the sessions was how to bring Sabbath observance into sync with Modern Life.  Not surprisingly, high on the agenda was the Conservative legal opinion that one is allowed to drive back and forth to the synagogue on Shabbat, a copy of which was included in the source book. I was very much taken with the supreme confidence expressed by our discussion leader, a rabbinical student at JTS, not only that the Torah could be efficiently ‘brought up to date,’ but that ‘we’ are fully qualified to do so. When asked, whence stemmed their confidence, the answer was: Prozbul.

Neither I, nor anyone else in the room, had a clue as to what a Prozbulwas so, so our leader kindly explained that the Torah annuls loans after seven years. However, this led to wealthy people not extending loans to the poor for fear of never being repaid, so Hillel created a legal fiction that annulled the annulment, overrode the Bible and that the vehicle by which this effected is entitled called ‘Prozbul’ (Cf. M. Shevi’it 10,3). We must, the leader continued, follow the example of Hillel and use it as a precedent to legislate in order to bring Judaism into the Twentieth Century. Allowing driving on Shabbat was one, sterling example of this type of activity.[1]

Over the subsequent decades, it seems that whenever I have encountered discussion of halakhic change, Prozbul is invoked.[2] Prima facie, it makes sense. After all, according to the Mishnah, Hillel the Elder did find a mechanism to address a social ill by effectively avoiding the abrogation of debts in the sabbatical year. However, the way the prozbul is cited goes far beyond this. It seems to me that it is appealed to as some sort of magic wand, an ‘Halakhah ex machina that can justify any and all situations wherein the Torah is perceived to be out of sync with the human condition.[3] Invoking Prozbul, then, is a way of expressing the (at best) extremely problematic assertion: ‘Where there’s a rabbinic will there’s an Halakhic Way.’[4]

I find this latter usage deeply distressing. Waving any kind of flag in a discussion of ideas is extremely shallow, and its use often verges on demagogy. Perhaps that explains why prozbul is a ubiquitous trope in social media. As if the Internet had not done enough damage in dumbing down contemporary intellectual intercourse, social media engenders superficiality of brain numbing proportions. Nevertheless, in the over-heated atmosphere of Facebook and Twitter polemics, whenever someone challenges the need, appropriateness or authority to change Jewish Law…out comes ProzbulQuod erat demonstrandum. ‘Nuff Said.

This type of use of prozbul is not only distressing in its shallowness, its shallowness is itself deeply offensive. After all, discussions such as these within an Orthodox context, do not concern quotidian matters. They treat of the interpretation, and application, of what Orthodox Jews are supposed to believe is ultimately the Word of God. Discussions in that context demand the polar opposite of Internet arrogance and anger, or of social media anti-norms. They require, instead, precision of thought, meticulousness of formulation, and (above all) a deep and abiding reverence for the subject and of the broad implications of the analysis. And, while I obviously cannot do anything about the comportment of others (only of my own), I would like to revisit the prozbul as a literary and intellectual topos in order to flesh out my larger point.[5]

The origins, even the very meaning, of prozbul were long debated by scholars.[6] Today, it is accepted that the word is of Greek origin, and refers to a legal instrument presented to a court.[7] As noted above, loans are annulled at the end of the sabbatical year (Shemittat Kesafim; Deut. 15, 1-2). Inter alia, this was intended to introduce a degree of debt relief for the agricultural poor. At the turn of the first millennium, though, this situation had boomeranged. In fulfillment of a situation which the Torah had envisioned, and against which it had warned, people had begun to withhold loans on the fear that they would lose their investment upon the arrival of the sabbatical year. According to the Mishnah (Shevi’it 10, 1), this situation spurred Hillel the Elder into action: [A loan secured by] a prosbul is not cancelled [in the sabbatical year]. This was one of the things instituted by Hillel the Elder. For, he saw that people refrained from lending to one another, and there transgressing that which is written in the Torah…’[8]According to the Mishnah, Hillel ruled that debts that were presented to a court for collection were unaffected by the sabbatical year amnesty.[9]

The question is, of course, whence derived Hillel’s authority and ostensible audacity at effectively circumventing the Torah’s mandated debt amnesty? Indeed, both the Yerushalmi and the Bavli express (mild?) shock at the implication that Hillel permitted something that the Torah had explicitly forbidden.[10] The best of intentions, both imply, do not justify a gross abrogation of an explicit Biblical injunction.[11] The upshot of both Talmudic discussions (part of which are anticipated in the halakhic midrashim) is that Hillel’s actions and authority lay well within the parameters of accepted Rabbinic jurisprudence, and his authority was rooted in his standing as the head of the Sanhedrin. According to one opinion, Biblical Law allowed for the exemption of debt from the sabbatical year amnesty via its assignment to a court. Or, since the amnesty itself was only rabbinic in origin already in Second Temple times, it was fully within the purview of the rabbis to legislate an exemption (Hem amru ve-hem amru).[12]

Continue reading…

From My Obiter Dicta, here.