The Fading Fortunes of Famous Families

Liz Cheney’s beating in the Wyoming House Republican Primary shows what’s in a name. Were you forwarded this email? [Sign-up to Rude Awakening here.]( [The Rude Awakening] August 17, 2022 [WEBSITE]( | [UNSUBSCRIBE]( The Fading Fortunes of Famous Families - Liz Cheney was ousted as the Republican candidate for the Wyoming House seat. - It didn’t matter what her father, Dick, did or didn’t do for his state and his country. - Ms. Cheney was voted out because she was disloyal to her former Republican president. Recommended Link [Man Who Predicted Bitcoin Warns: “Don’t Buy Bitcoin!”]( [Click here for more...]( James Altucher first predicted Bitcoin all the way back in 2013… And ever since, he’s been one of the biggest advocates for it. But now, he’s warning Americans that buying Bitcoin could be a big mistake… [Click Here To See Why]( Sean Ring Editor, Rude Awakening Good morning on this gorgeous morning from northern Italy! My jetlag seems to have gone already, thank heavens. It usually lasts longer. But after all these years spent on planes, I guess I’m finally getting used to it. So I could wake up early, read the paper, and smile. As widely predicted for months, Liz Cheney was crushed in her Republican House Primary. Her surname didn’t matter one bit. She was subject to the Court of Public Opinion without prejudice. It didn’t matter that her father, the infamous Dick Cheney, had served in the House for Wyoming or as Secretary of Defense or Vice President. She was judged on her record by her constituents. And boy, did they hand down a verdict. It got me thinking about families, asset protection, and power. You almost certainly know that [90% of affluent families lose their wealth by the third generation](. And, at least anecdotally, prominent political families also tend to lose power. The Adamses, The Lincolns, The Roosevelts… once all-powerful families are no longer on the scene. The Left may be obsessed with inheritance tax, nepotism, and old men’s clubs. But history demonstrates the ebb and flow of time washes out the families who don’t maintain their influence. Let’s have a look. Liz Cheney Loses Big Well, that was an old-fashioned butt-whooping! Credit: [fivethirtyeight.com]( Liz Cheney didn’t even get a third of the vote. Harriet Hageman, a former friend of Cheney’s, took 66% and will face the sacrificial Democrat lamb in November’s House election. It’s Wyoming, after all. Cheney went down swinging, of course. Here’s [Politico]( with Cheney’s non-concession speech: Standing in “God’s country” — the hills of Jackson (a location chosen with the help of news producer James Godson, who has helped shape the telegenic January 6 hearings) — Cheney began by saying “our work is far from over.” “Two years ago, I won this primary with 73 percent of the vote. I could easily have done the same again. The path was clear.” But that would have meant following Donald Trump’s lies about the election, she said, and “That is a path I would not take.” Then she “turned the page.” “This primary election is over,” she flatly said, “But now the real work begins.” Honestly, what’s she going to do? The Trump Right loathes her. The Rump of the Republicans is too few to have any influence. Perhaps she can take her rightful place in the Neo-Dems? Maybe her best bet would be to apply for a role at Halliburton. But let’s not crap on Cheney anymore. In fact, we can look at other political dynasties that have disintegrated before our very eyes. Recommended Link [A colossal $2.8 trillion more to play with...]( [Click here for more...]( The stock market will never be the same again. Especially because [this event]( could bring an additional $2.8 TRILLION worth of assets into play. The developing situation will also disrupt the $7 TRILLION banking industry and the $3.45 TRILLION online retail industry. The best part is... this is still in its early stages of development. Which means you could take advantage of this early stage to become extremely rich. [Click Here Now]( When Was The Last Time You Cared About A Kennedy? Sure, we’re all grateful for RFK, Jr’s work on the corona cockamamie. But the truth is, the Kennedys haven’t mattered since JFK Jr died in 1999. Credit: [Wikipedia]( The devilishly handsome ladies’ man would have been a shoo-in for the Oval Office. If my math’s correct, he would have saved us from Barack Obama. That’s enough reason to weep for his demise. Why he felt the need to fly on a foggy night will puzzle historians until the end of time. Sure, his sister Caroline is the US Ambassador to Australia. But the rest of his cousins are out of Congress. The chances of a Kennedy Restoration are dim. The Bushes Have No Bird In Hand Prescott Bush must be rolling in his grave right now. Since his son, George Herbert Walker Bush, and his grandson, Dubya, became Presidents of the United States, there’s no one in the on-deck circle. Jeb was Governor of Florida but really is the embodiment of a damp squib. He may have been President if not for his older, dumber brother and The Donald. The next generation has some famous notables, like Jenna Bush Hager and Billy Bush. But they’re not taking the reins anytime soon. The Bushes look like a spent force. Bill and Hill’s Kid Is Rich But Isn’t Running Anytime Soon Slick Willie and The Hildebeast should co-author a book titled “How to Turn 15 Minutes of Fame Into 30 Years of Infamy!” My goodness, the Dems still are holding Hillary in reserve should Biden snuff it publicly. (I’m convinced it’d be Weekend at Bernie’s time if he goes privately. They can’t possibly let The Veep take over.) But Chelsea will be the only Clinton left once Bill and Hill shuffle off their mortal coils. If Helen of Troy was the “face that launched a thousand ships,” then Chelsea is the face that silenced the guns. Forget it. She may have a future in politics in old age. But as a 42-year-old mother of three, Chelsea is listed on Google as an “American author.” Yawn. Her husband, Marc Mezvinsky, works for the hedge fund TPG. So they’ve got plenty of cash and no need to be in politics. Wrap Up Whether it’s the Adamses, Lincolns, Roosevelts, Reagans, Bushes, Clintons, or Obamas, political families lose power just as wealthy families do. The market - in this case, voters - simply takes care of business as it always does. Sooner or later, voters tune into their favorite radio station: WIIFM. What’s In It For Me? And when voters do ask that question and get a poor response, they return a harsh verdict. Liz Cheney is only the latest, most public, and perhaps most humiliating example. So we needn’t worry about any family taking over and running the show. Not even the Trumps. Until tomorrow. All the best, Sean Ring Editor, Rude Awakening [ARCHIVE]( | [ABOUT]( | [CONTACT US]( Rude Awakening is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Paradigm Press delivering daily email issues and advertisements. To end your Rude Awakening e-mail subscription and associated external offers sent from Rude Awakening, feel free to [unsubscribe](. Please read our [Privacy Statement.]( If you are you having trouble receiving your Rude Awakening subscription, you can ensure its arrival in your mailbox by [whitelisting us.]( © 2022 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. 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