{"id":11853,"date":"2010-02-07T15:17:13","date_gmt":"2010-02-07T15:17:13","guid":{"rendered":"https:\/\/maverickphilosopher.blog\/index.php\/2010\/02\/07\/bogus-quotations-did-einstein-really-say-that\/"},"modified":"2010-02-07T15:17:13","modified_gmt":"2010-02-07T15:17:13","slug":"bogus-quotations-did-einstein-really-say-that","status":"publish","type":"post","link":"https:\/\/maverickphilosopher.blog\/index.php\/2010\/02\/07\/bogus-quotations-did-einstein-really-say-that\/","title":{"rendered":"Bogus Quotations:  Did Einstein Really Say That?"},"content":{"rendered":"<p style=\"text-align: justify\"><font face=\"Georgia\">Politicians and popular writers who retail in bogus quotations should have a close cousin of the logic stick applied to their silly heads.<\/p>\n<p>Senator Charles Grassley (R) was on C-Span&#0160;the morning of 7 March 2005 talking about Social Security reform among other things. He attributed the following quotation to Albert Einstein: &quot;Compound interest is the only miracle in the world.&quot; Did Einstein say that? I rather doubt it. It is too stupid a thing for Einstein to say. <\/font><\/p>\n<p style=\"text-align: justify\"><font face=\"Georgia\">There is nothing miraculous about compound interest, and there is no &#39;magic&#39; in it either. It is very simple arithmetic. Suppose you invest $2000 at 10% compounded annually. At the end of the first year, you have $2,200. How much do you have at the end of the second year, assuming no additions or subtractions from the principal? $2,400? No. What you have is $2,200 + 220 = $2, 420. Where did the extra twenty bucks come from? That is interest on interest. It is the interest on interest on interest . . . that make compounding a powerful tool of wealth enhancement.<\/p>\n<p>But there is nothing miraculous or magical about it. Words mean things. Use them wisely.<\/p>\n<p>And don&#39;t look to Einstein for advice on personal finance. <\/font><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Politicians and popular writers who retail in bogus quotations should have a close cousin of the logic stick applied to their silly heads. Senator Charles Grassley (R) was on C-Span&#0160;the morning of 7 March 2005 talking about Social Security reform among other things. He attributed the following quotation to Albert Einstein: &quot;Compound interest is the &hellip; <a href=\"https:\/\/maverickphilosopher.blog\/index.php\/2010\/02\/07\/bogus-quotations-did-einstein-really-say-that\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bogus Quotations:  Did Einstein Really Say That?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-11853","post","type-post","status-publish","format-standard","hentry","category-language-matters"],"_links":{"self":[{"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/posts\/11853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/comments?post=11853"}],"version-history":[{"count":0,"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/posts\/11853\/revisions"}],"wp:attachment":[{"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/media?parent=11853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/categories?post=11853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/tags?post=11853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}