July 4th Feature: George Washington Could Have Held This Stock – CNBC

1795 - 1823

In celebration of Independence Day, Fast Money wanted to bring you a feature that was patriotic. And what could be more patriotic than taking a look at the history of American capitalism.

Many of our founding fathers were also businessmen, but few had more savvy than George Washington.

According to various accounts, Washington ran a fishing operation that processed 1.5 million fish per year which he sold throughout the colonies and the British West Indies.

Washington also grew wheat and manufactured it into flour as well as distilled whiskey. Washington’s grist mill produced about 278,000 pounds of flour a year, which was also popular in the colonies as well as England and sold under his own brand name.

Those and other endeavors made George Washington one of the richest men of his era. In fact, to this day Washington remains the #1 wealthiest US president with a net worth of more than $500 million, when adjusted for inflation. That’s even more than Mitt Romney!

And to this day, there’s a stock that George Washington could have held, that you can hold today!Know what it is? Get all the details in this original video. It’s only 90 seconds long and narrated by CNBC’s Tyler Mathisen.

via July 4th Feature: George Washington Could Have Held This Stock – CNBC.

Strange Random Capitalism Quote:

“Our economy is based on spending billions to persuade people that happiness is buying things, and then insisting that the only way to have a viable economy is to make things for people to buy so they’ll have jobs and get enough money to buy things.” ― Philip Slater

 

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Posted on July 5, 2012, in Article and tagged , , , , , , , , . Bookmark the permalink. Leave a comment.

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