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Can I have an easier question? Seriously, you know that in corporate law in the States it is incumbent upon the officers to exercise “fiduciary responsibility”. In practical applications in what Barry Ritholtz (The Big Picture) would call “Bailout Nation” it is rare indeed especially where a lobbying force does not negatively counterbalance ethical business behavior. Sarah Palin proved that in a vacuum any state budget can be balanced (thanks Exxon). If you are in Michigan there are fewer options.
Interestingly enough, a lot of healthy banks are acting like the states in that they are refusing stimulus. Not from an idealogical perspective but strictly business in that the T’s and C’s attached to it are onerous to the extent that it is counterproductive. This is where the rubber meets the road. Obama (and I admit I voted for him) does NOT represent change IMO. Influencing the relaxation of “mark to market” standards is a clear indication of that and the attention once again is drawn from the realities of worldwide “fiscal irresponsibiility” (Goldman, BoA, AIG, GM, RBS, any Austrian Bank) toward those who were simply smart enough to avoid the temptation of the avarice and greed that brought about this worldwide dilemma (Soros, other smart private money). That was the misguided focus of the G20 – that and deciding that Costa Rica was…well, too cool.
If you drive about 5 miles north off the Costanera somewhere between Parrita and Quepos you will find a little watering hole with all the fiscal responsibility you need. However, if you need a ride back to town because you are, let’s say “ill liquid”, the owner will personally take you in his car will a killer sound system and no windshield wipers. As I will attest, if its raining sheets, its a challenge and a gamble. Ah well, nobody’s perfect.
Cheers! Joseph
And bats with the wing spans of gaviotas flying in front of the headlights!!! Drove that stretch the year Portalon got washed away.
Kevy,
You said:
“It would be more accurate to say; It is the goal of a Marxist/Totalitarian governments to “manage society”. That is what the historical record confirms. “The dictionary defines the word similarly as “direction; control; management; rule:”
I would love to hear your succinct definition of what government is or ought to be as opposed to what the dictionary says it means. It is easy to see why you are so confused if you cannot grasp the concepts of government and business. They are two distinct functions. Like so many consumer capitalists, you have totally and thoroughly confused the two in an attempt to subjegate governments and the people to the will of markets.
I don’t need this particulart example of an economic crisis to back up my point. There have been many others over the last couple of centuries, many others. I repeat, nobody makes millions without exploiting others in some way. Either your fanaticism or your ignorance,or both blind you to this obvious truth.
Edited on Apr 08, 2009 05:35
“Governments, on the other hand, are created with a different goal which is to manage society.”
Governments are created to SERVE the society not “manage it”. There is a very disticnt difference.
Let’s tie this back in to the original thought of this thread. The various alphabet soup entities like the OECD, IMF, World Bank, etc, etc are all examples of the forces of Tyranny that are on the rise. The collectivists are winning. I happen to think the authors of the Declaration of Independence were right and that we have inalienable rights to Life, Liberty and the Pursuit of Happiness (Property). According to that document, the government was formed to “secure” those rights and if it became a tyranny and stopped protecting those rights, then we have a solemn duty to overthrow the corrupted government. These inalienable rights come from God; they are not a gift from government.
Among us we have differing views as to how much we want the government to do and provide. I wonder how many among us really want to be “managed “and “ruled” by government. The yearning and the desire for self determination precludes such totalitarian concepts.
For the record, I do not confuse the functions of government and business. I think the concept of government being run for profit like a business is an oxymoron. By the same token, I do not think that governments should be attempting the job of running businesses. The US economy has been trashed by government regulation. Now with the bailouts, we will get a close up view of how bad it can be to have central planners vainly attempt to run a company. But, of course, everyone in Costa Rica can see that for themselves with the state monopolies or near monopolies in Telecommunications, Banking and Insurance etc.
Hmmm. Does it actually have (Property) following Happiness in the Declaration of Independence. Excuse me, but if there is no God, or you become an animist, do we all lose those rights? And just for arguments sake, some would say the economy has been trashed by deregulation. I’m actually in tacit agreement with some of the things you espouse, but please don’t take my rights away because I don’t believe in your god. Ok? Sudden thought. You ARE talking about the GOD of the old testament, aren’t you? Seems to me he had little truck with the rights of those who didn’t believe.
Good points, Edlreed. It might also be pointed out that most of the founding fathers were deists, not christians, and had a healthy fear o organized religion. Also, Jefferson was a proponent of national banks and feared that one day private bankers would subvert democracy. I guess he would be called a socialist or a collectivist to day by the right wing.The more I learn about that man, the more respect I have for him.
I believe that your are given freedom to worship any God that you so choose without being persecuted. So you can even worship the green God of the trees and your OK.
But WHO gives me that freedom, Kimball. As an intellect and knowledgeable person, would you say the history of the Sons of Abraham suggest it comes from your God? Enough of that, I’m just suggesting that between intelligent and like minded individuals, “God given rights” is a canard and hindrance. What I think we are talking about is guts. The guts to find values between ourselves worth standing up for, especially when we know the defamers of the world’s greatest hopes are our own leaders. When “hard earned dollars” erupts from the mouths of good folks who haven’t had a callus on their hands in their lifetime and whose personal financial agendas tie them to the usurpers of our rights, “hard earned dollars” goes down kinda hard. All present excepted, of course.
I truly hope no one reading this finds discomfort in what I’ve written. However, the tone of some of these discussions suggest a segment that has passed the point of no return, to include any discomfort at their thoughts/actions and consequent allegiances.That’s some heavy s*** edlreed. All I’m saying is you can worship any God you want without persecution. “WHO” gave us that freedom? Well i guess we gave it to our selves.
Because i know if someone tries to stop me from my worship, they better pack a lunch.Now there’s a reasonable “to the bulwarks” cry in which I am your ally, as long as it doesn’t come disguised in the form of affable leaders hooked up with manipulative capitalists (use money mongers if you prefer) that dominate the lives of the rest of us. Am I confused, or is that what has been happening the last 30 years? Objectively, please.
I’m not a student of economics but it seems to me the stock and commodities markets long ago lost their intent and moved into legalized gambling. I put forward the case of Phillips 66 oil as the “pivot” point in this transformation.Stock and commodities markets are a gamble as is ANY business. Roulette wheels and black jack tables are usually for fun gambling, for those who are attracted to that, but I see no differenece between any business venture and investment or stock trading activity. It all depends upon the intent and the knowledge of the “player”.
Living in a corporate autocracy requires that one either play their game, or retire from the country. I have to do the former until I can afford the latter, ubfortunatelty.
Did you read today’s news grb1063?
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More States Look to Raise Taxes
By LESLIE EATON“A free fall in tax revenue is driving more state lawmakers to turn to broad-based tax increases in a bid to close widening budget gaps.
At least 10 states are considering some kind of major increase in sales or income taxes: Arizona, Connecticut, Delaware, Illinois, Massachusetts, Minnesota, New Jersey, Oregon, Washington and Wisconsin. California and New York lawmakers already have agreed on multibillion-dollar tax increases that went into effect earlier this year.
You can read the Wall Street Journal article at:
[ http://online.wsj.com/article/SB123923448796803135.html ]
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It’s going to get ugly.
Scott Oliver – Founder
WeLoveCostaRica.comAnd just why is this ugly, Scott? A broad-based, level rate tax on virtually everything further disproportionately disadvantages the already disadvantaged, right? What do you expect of the elite that make these decisions, some sorta fairness?
No, Jefferson did not believe in National Banks over private banks…he said that the presence of banks is more dangerous than standing armies. And no, Jefferson was not a collectivist. You are thinking of Hamilton, who was a proponent of central banking and was an antagonist of Jefferson. And yes, most of the founders where Christians and no, they did not have a healthy fear of organized religion. Those are projections of someone promoting an agenda and trying to distort the historical record to advance that agenda.
I find it interesting how intolerant some people become when someone mentions God. Especially when only referencing historical facts, not proselytizing. Makes me wonder how confident some people are about their own convictions.
Unfortunately, there are too many people who are not students of economics who fail to see the outworking of the inevitable consequences of bad economic policy. I am part way into “The End Of Prosperity” where the historical record show the results of different policies. The knee jerk raising of taxes has been demonstrated to slow economic activity and result in lower revenues to government. The book can be ordered here:
http://www.amazon.com/End-Prosperity-Higher-Economy-If-Happen/dp/1416592385/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1239846821&sr=8-1
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