Maybe we should put him in charge of the national debt. Clearly he has a magic way of multipling money.
Re: I am not sure I understand the points made in this blogpost...
Noreen Seebacher
1/24/2012 1:25:38 PM
It only matters if the son claims he learned his business and economic sense from his father, which Mitt has said on occassion.
I am most interested in Mr. Romney's IRA account. How can a guy accumulate 100M dollars in his IRA account? Is Mr. Romney a hidden Warren Buffett? Just assume Mr. Romney started to contribute to his IRA account at 1974 (when the IRA started), and fully contributed year after year:
1974-1981: $1500 * 8 = $12K
1982-2001: $2000 *20 = $40K
2002-2004: $3000 * 3 = $0.9K
2005-2007: $4000 * 3 = $1.2K
2008-2010: $5000 * 3 = $1.5K
His total contribution of IRA will around $56K. To turn $56K to $100M over this period of time, you need an annual return above 25%.
Either Mr. Romney is an investing genius who beats Mr. Buffett hands down, or he owns an explanation to our fellow citizens.
People in the 50's were generally much 'greener' than we give them credit for. Milk bottles were returned and recycled. Clothes were often washed by hand. (Including cloth diapers.) More food was grown in gardens or close to home and per-capita energy consuption was much less than it is today.
The exception to the 'green' trend may have been the cars. Big, heavy and fast. It wasn't until the 1980's following the gas shortages of the late 70's that GM and Ford started to make small cars. Does anybody remember the Chevette?
I guess the quirky Nash Metropolitan was just 30 years ahead of it's time.
sins of the father
AskAsa
1/24/2012 10:15:34 AM
Mitt's dad gave birth to a pseudo car that offered false economy, a stolen brand and a copy cat bumper. A car with big claims but little horsepower to back them up. A car attempting to appeal to everyone that finally appealed to no one .
Mitt's dad also gave birth to a son......
Nice story Marvin thanks for taking us off the beaten path and into the Romney's automobile history.
acts not ancestry
impactnow
1/24/2012 10:00:01 AM
While I understand the national security implications of looking into someone's background I think we would all have questions about our background if our families were explored for generations. We should concentrate on the candidate's ability to lead and his experience—our country doesn't have time for a third cousin once polygamist or claims that someone is not a citizen.
Re: I am not sure I understand the points made in this blogpost...
tokyogai
1/24/2012 8:27:26 AM
I disagree. knowing someone's roots may help explain why they take the stands they do. I think it points to Mitt being a bigger risk taker than popularly believed. At any rate, you can not have too much information.
I am not sure I understand the points made in this blogpost...
back2basicz
1/24/2012 8:13:33 AM
Marvin,
Maybe My knowledge and understanding of American Politics is'nt as advanced as you are-But I still don't see what you are trying to prove through this Blogpost.
George Romney might have generated some duds during his time heading the car company Nash-Kelvinator/American Motors;but he will be remembered more (rightly or wrongly) for turning around the automaker;which helped him become Governor of Michigan later on.
So What am I missing here?
Whether Mitt Romney really did learn anything or not from his Dad is again immateral in the greater scheme of things.After all,I don't think voters are least bit interested in whether/or not he learnt economics from his dad.
Regards
Ashish.
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