Straight
Talk from Al Jacobs
THE AMERICAN DREAM REVISITED
If
there’s one habit I’ve indulged in over the years, it’s regularly reading
Letters to the Editor in every newspaper I come across. Although many of them
are simply tirades of one sort or another, every so often I come across an
opinion which causes me to think twice. Several days ago the title of one upset
me when it proclaimed: “The American Dream is out of reach.” The text of the letter
was more upsetting, bemoaning that “… life should be better and richer and
fuller for everyone,” while offering as a solution: “Think twice about who we
vote for.”
The
phrase, The American Dream, which
dates back to James Truslow Adams’ 1931 book, The Epic of America, had come to represent an assurance of the
abundance of material goods, and in particular home ownership and a college
education for all. To a certain extent I tended to focus in on the concept and
realize I’ve lived my life with those values uppermost in my consciousness.
In
more recent years the belief that, through hard work and abiding by the rules,
the citizen’s material prosperity is guaranteed, has been challenged. Prize-winning
journalist Chris Hedges’ 2012 publication, Days
of Destruction, Days of Revolt, claims that the dream is a lie, in that
American’s jobs, schools and communities will all be sacrificed to the evil of
corporate profit.
I’ll
give you my opinion. Both sides have it wrong. It’s still possible to enjoy the
blessings of this bountiful land. For a person of no more than average ability,
willing to work systematically to earn a livelihood, to abide by the
fundamental rule that you consistently spend less than you earn, and who
refuses to be duped by the hordes of unscrupulous marketing rogues which
populate the landscape, a rewarding life is still attainable.
My
point: The American Dream is alive and well. Though James Truslow Adams, a
freelance author who helped popularize American history, departed this earth almost
70 years ago, his concept that each citizen can attain a certain degree of success
in this favored nation is still valid. But be aware that it’s a singular
achievement, not a community project. It won’t be collectively handed out; it
must be individually earned.
Al Jacobs, a professional investor for nearly a half-
century, issues a monthly
newsletter in which he
shares his financial
knowledge and experience.
You may view it on http://www.roadwaytoprosperity.com
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