Why the Rich Are Getting Poorer  By: John Browne | Wed, Mar 12,
2008 Print Email  As our consumer dominated economy faces the
threat of imminent stagflation (economic recession and financial
inflation at the same time), losses will not be limited to the
poor. Many get-rich-quick investors also will become poorer!
The effects of recession, falling asset prices, insolvency,
inflation and a falling dollar are set to have a sometimes
devastating effect on the real value of many investment
portfolios, including those of the wealthy.  Why are the rich
going to lose money when many have had expert professional
advice? The answer is in varying and individual combinations of
greed, arrogance, ignorance and a naive belief in government
propaganda, both by investors and their professional advisors.
Ignorance led them to believe government figures. Arrogantly,
they assumed they had discovered a new world in which asset
prices would continue to boom. They were tempted by the greed
that held that the higher the leverage,