Which financial institution do you work for?

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I've been engaged in an exchange with an economic professor at my daughter's university via email. She's been great in commenting on links I've given her ..and giving me a few things to ponder as well.

She just sent me an essay that appeared in Harper's magazine.

One part of it remarked that at some point GM stopped producing cars for a profit ..and started producing them to make loans.

It also pointed out that all of the real innovative people abandoned manufacturing and went into financial interests.

It also mentioned that in spite of higher productivity, mean wages haven't advanced since 1972-73.


So which institution are you enslaved to?

http://harpers.org/archive/2009/04/0082450
 
lol@real innovative...they couldn't have engineered a better mess.

lemme guess...the Tempo designers were running Lehman and the Cimarron designers were running Bear Stearns?
 
I could say that my parents were my mortgage writers and they are the financial institute that I work for. Or I'm their "fix income" provider so I'm the financial institute that they work for.
 
Originally Posted By: Gary Allan

It also mentioned that in spite of higher productivity, mean wages haven't advanced since 1972-73.


SHhhhhhhh there is a certain element that would rather the sheep not know this little fact.
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I work for three of them:

The City of Manassas Park
The Commonwealth of Virginia
The United States of America

The best part is, not only do I not get paid, they make me pay for the privilege!
 
Originally Posted By: Samilcar
Link only works for Harper's subscribers.


Ah ..I got a scanned copy. I found it odd that I found a link to it too. PM me if you wish to view it.


The economics professor has linked me to a number of things ...everything from sample videos for instructional presentations to this sorta stuff. What's scary is that these academic economists share my take and enhance the views that I hold. The scary part is that she adds that they all seem to be tied to the works of Marx.
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I still see our "financiers" ..our money changers, as the true evil of our contemporary society.
 
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It also mentioned that in spite of higher productivity, mean wages haven't advanced since 1972-73.

Check total compensation. The wage stagnation is a way to hide the real compensation. Whenever someone mentions wages without the total compensation it's a red flag to a hack job.
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What's scary is that these academic economists share my take and enhance the views that I hold. The scary part is that she adds that they all seem to be tied to the works of Marx.

I feel vindicated.
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I still see our "financiers" ..our money changers, as the true evil of our contemporary society.

Bankers. Most especially the Central bankers.

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“The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War."

Benjamin Franklin

http://www.nwcitizen.us/entry/banking-and-revolution
 
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What's scary is that these academic economists share my take and enhance the views that I hold. The scary part is that she adds that they all seem to be tied to the works of Marx.

I feel vindicated.


You would
LOL.gif
I wish there was ONE person that could be indited for Capitalism. I think that if he were judged by the noble performance of it in our contemporary democratic republic ..that he would be burned in effigy.
 
Originally Posted By: Gary Allan
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What's scary is that these academic economists share my take and enhance the views that I hold. The scary part is that she adds that they all seem to be tied to the works of Marx.

I feel vindicated.


You would
LOL.gif
I wish there was ONE person that could be indited for Capitalism. I think that if he were judged by the noble performance of it in our contemporary democratic republic ..that he would be burned in effigy.


yet you advocate capitalistic absolute free market systems to pay teachers (and oil changers, and firemen, and and and) less to work in bad neighborhoods?
 
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I wish there was ONE person that could be indited for Capitalism.

Well I guess it follows that someone sympathetic to Marx would want someone to go to jail for having economic freedom...

Wasn't it Capitalism that brought us things like....Amsoil...
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Maybe you could get big Al thrown in the slammer for being an evil capitalist? He IS an evil CEO after all.
 
SHhhhhhhh there is a certain element that would rather the sheep not know this little fact.


For the silly Marxists...read Orwell's book...even a high school kid can understand it...

The novel describes how a society's ideologies can be manipulated and twisted by those in positions of social and political power, including how Utopian society is made impossible by the corrupting nature of the very power necessary to create it.
"Napoleon, a Berkshire boar ("a large, rather fierce-looking Berkshire boar, the only Berkshire on the farm, not much of a talker, but with a reputation for getting his own way."),[5] is the main tyrant and villain of Animal Farm and is based upon Joseph Stalin. He begins to gradually build up his power, using puppies he took from mother dogs Jessie and Bluebell, which he raises to be vicious dogs as his secret police. After driving Snowball off the farm, Napoleon usurps full power, using false propaganda from Squealer and threats and intimidation from the dogs to keep the other animals in line. Among other things, he gradually changes the Commandments to allow himself privileges such as eating at a table and to justify his dictatorial rule. By the end of the book, Napoleon and his fellow pigs have learned to walk upright and started to behave similarly to the humans against whom they originally revolted. Napoleon's name adds to the novella's themes of totalitarian dictators rising from vacuum of power and absolute power corrupting absolutely. The character's namesake, Napoleon Bonaparte, forcibly took control from a weak government in 1799, installed himself as First Consul and eventually crowned himself Emperor."
 
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It's fine and dandy to sit in ivory towers or in the comforts of one's living room in a Western country and engage in idle fancies about the glories of Marxism. I like to fantasize about the pie in the sky myself sometimes.

But when it comes down to it, I believe what people do not what they say. And when it comes down to it, I don't see many people migrating to Marxist countries, but I do see plenty of people migrating from Marxist countries to capitalist countries.

Anybody ever hear of a family drowning in the open seas trying to go from Florida to Cuba? Me neither.
 
Originally Posted By: VeeDubb
Anybody ever hear of a family drowning in the open seas trying to go from Florida to Cuba? Me neither.


It's illegal to do that, so they go to Mexico and enter Cuba with a non-US passport.
 
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Well I guess it follows that someone sympathetic to Marx would want someone to go to jail for having economic freedom...
]

Well, if you were a liar and stated that ..you could be right. I never said that I'm sympathetic to Marx. I stated that an economics professor stated that those that appear to hold my views have cited his works.

Most honest people can tell the difference ..but then what are we dealing with here
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Wasn't it Capitalism that brought us things like....


Millions in bonuses while taking us to the eternal cleaners.
 
Originally Posted By: crinkles
Originally Posted By: Gary Allan
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What's scary is that these academic economists share my take and enhance the views that I hold. The scary part is that she adds that they all seem to be tied to the works of Marx.

I feel vindicated.


You would
LOL.gif
I wish there was ONE person that could be indited for Capitalism. I think that if he were judged by the noble performance of it in our contemporary democratic republic ..that he would be burned in effigy.


yet you advocate capitalistic absolute free market systems to pay teachers (and oil changers, and firemen, and and and) less to work in bad neighborhoods?


Not at all. If this nation is losing money, why do some deserve to achieve even higher gains in the midst of a declining market?

That is, if business is "bad" ..doesn't common sense dictate that all who are endeared to the enterprise suffer the byproducts of the losses (which are actually ..lower gains)? If we have only 1% growth ..or 10% loss ..do not all those who factored their worth sensibly contour their relative worth along those lines? If not, why not? If you run up one ladder under one set of rules, why would one expect not to be subjected to the same rules in retreat?

The same applies to all who are on the public dole. All of EVERYTHING is paid for by producers. Less producers of merit ..less revenue to work with.

In the case of teachers, just why should they be exempt from the effects of the economy one way or the other? What product do they have to deliver that adds value to the environment that they extract their living from?

If they do, in fact, enhance the environment that they make a living from in terms of tangible worth, then being tied to the state of the local economy assures that they will prosper along the lines of their performance. Make brilliant contributing members of the community ...they'll make a better community, right? That should allow them to produce their own prosparity, right?

..but one could say, "..but what if all the geniuses leave the hamlet for greener pastures?" ..and we're still left asking the producers in THAT community need to keep teachers/administrators in some lofty perch ..while they will continue to suffer the pitfalls inherent to that environment.

In our contemporary public education environment here, the incumbents, who are heavily weighted in the typical demographic, swell their compensation packages ..and sacrifice the entrance level teachers. While with no more than a 4 year college education in terms of personal investment (and compensated continuing education) you can make about $65/year for a 9 month contract. You can teach Macbeth for the 3000th time at a masters level and take the summer off.

They will cite comparatives with accountants and engineers ..but they didn't become accountants or engineers ..nor conductors ..nor taxicab drivers ..all of whom work 12 months and are subjected to just about every market force that there is.

They aren't in it for the good of humanity ..no more than my doctor and the pharmaceutical companies are in it for noble reasons.
 
Let me add that I could care less what wages teachers/administrators make if the taxing modality was earned income (EIT). That way the most advantaged within a given environment, however good or bad that may be, have the most vested interest in maintaining it ..commensurate with what they extract from it. The gentry will be the one's protesting the contracts, this time not because their child will miss their summer vacation ..or be subject to delayed entrance into college due to late graduation, but for the whopping increase in what it cost them personally.

If you're in a declining environment where the EIT is flat or in retreat, any property tax is a poor tax.
 
Failure to recognize or outright dismissal of the horrific examples where Marxist governments were implemented is an interesting topic in and of itself.

Marxist ideals are not plausible and it's obvious as to why. Those who benefit in such a system are only those who acquire the power to implement it, which defeats the so-called principles outright.
 
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