Farming the mailbox

But these were few in numbers compared to the Boomers. I'd argue the Boomers have been the overwhelming component of Vermont's population growth from 360,000 in 1960 to 630,000 today-a half-century of negligible natural increase and continued outmigration of Yankee natives who, having imprudently failed to select wealthy parents for inheritance purposes, have had to leave and actually earn their own livings elsewhere.

The contemporary battalions of rural homesteaders in Vermont aren't the malefactors of great wealth contemptuously described by early 20th century GOP-Progressive President Teddy Roosevelt, but neither are they the earlier typical New Englanders who earned their way in farming, mill-work, machine tool, or small commerce, living frugally and, saving and investing the wealth which now furnishes some of their grandchildrens' passive income.

It's exactly this form of family wealth creation which is now discouraged by Progressive governmental policy.

As politician and amateur economist Ron Paul writes, it's the small-scale savers and investors who have been hardest hit by U.S. Federal Reserve actions to devalue the dollar (only 5 percent of the purchasing power of the 1913 dollar remains from that year of Federal Reserve establishment) and encourage highly progressive income taxation, while keeping interest rates so low (now at .25 percent) that prudently invested bonds and banked savings can't earn much.

You'd think passive income Boomers nationwide would be manning and womaning the barricades to protest-but they aren't.

Maybe that's because, to paraphrase Nearing-contemporary F. Scott Fitzgerald, the independently wealthy are different from you and me; their riches are invested with sufficient sophistication that they aren't damaged by Federal Reserve actions to create long-term currency depreciation.

Charged with maintaining currency stability, the Fed has opted for a constant 2 percent inflation rate (soon to double, so as to stimulate the economy, the Wall Street Journal reports) and to create a stagnant near-zero return for interest-bearing investments.

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