I am not a financial expert, nor am I a genius. But with the price of steemit falling below 1.50 I suddenly remembered how the Kennedys gained their fortune.
(JFK's father Joseph Kennedy)
Joseph was a self made man, who came from a poor family that immigrated from Ireland. He was born in 1888 and his mother was left with 4 children to raise and no money to do so. And yet Joseph went on to start a tavern and worked his way into the Irish and catholic community until he made enough money to start another tavern and very quickly he would became well known. Using his growing popularity he ran for the state senate and won the elections. (Later in his life he would attempt the presidency but fail.) You get where this is going. The man became very successful, but his true genus was put to use during the great depression. Later on in life he worked his way into the stock exchange, befriending many higher-ups and join related groups. He would go on to start a film studio making many successful films.
The faster he grew his wealth the closer the great depression grew, but he knew it was coming. He sold many of his stocks before the crash. During the crash Joseph would buy restate all over the country(later on during the 50's he would make millions off of the stock market).
He would later become the head of the newly formed FCC to ensure that a "Black Tuesday"(stock exchange collapse) could never happen again.
After the great depression and World War 2 his wealth had greatly increased and he would settled down and watch his children go on to make history.
As I stated earlier, I am no expert but I do believe that steemit will rise again. I support and I will continue to support it! I know that there is a large community behind steemit and I know many who will support it during this great drop in steemit. Steemit may fall even further than it is now, but do not let a fall keep your hopes down!
P.S. I know this is a rather short article and there is much I didnt mention. If you want to learn more about Joseph Kennedy go to this link: https://www.biography.com/people/joseph-p-kennedy-9362978
There were many controversies over Joseph and his descendants, but I will always respect a self made man, we should all tip our hats To Joseph P. Kennedy. Rest In Peace Joseph.
P.S (another one) I wish I could write more but I am on the road! I encourage all of my readers to go and read his biography!
Critics, of course, claim that Kennedy was very much a stock manipulator.
At least he had enough conscious to realize that financial gains through manipulation of the system are destructive.