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RE: Why are so few people wealthy? - 9/18/2014 5:57:36 AM   
thompsonx


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ORIGINAL: LookieNoNookie


Ya know....there's these things called libraries....they have books called biographies and autobiographies....tons of info there.

Then, there's this cool thing called Google. Awesome resource.

But then, you want someone to do the work for you, don't you?

It is not my job to substantiate your ignorant opinions. It is my job to point out when you have your feet in your mouth and your head up your ass.


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Profile   Post #: 161
RE: Why are so few people wealthy? - 9/18/2014 6:05:46 AM   
Sanity


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quote:

ORIGINAL: thompsonx


ORIGINAL: Sanity

Doing bong hits in moms basement at the age of 56 all day and all night while waiting for that Leprechaun to come riding in on his Unicorn to save the day seems to be the average retirement plan these daysin

Mine was based on killing poor people to make rich people richer...no unicorns.





I always had you pegged as a Leprechauns and Unicorns / communism / moms basement sort of troll

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RE: Why are so few people wealthy? - 9/18/2014 6:06:12 AM   
thompsonx


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ORIGINAL: LookieNoNookie

Actually that's a faulty statistic.

90% of businesses are "not in business" after 20 years.

Some retire, some sell out, some merge and some fail.

The more accurate number is in the first 5 years, 30% of business fail. In the first 10, upwards of 50%.

After that, very few fail.


Actually you are full of shit as usual.


"According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn."

http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/


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Profile   Post #: 163
RE: Why are so few people wealthy? - 9/18/2014 6:09:17 AM   
thompsonx


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ORIGINAL: LookieNoNookie


quote:

ORIGINAL: thompsonx

ORIGINAL: LookieNoNookie

Ya know what....all you fuck offs that seem to believe "it can't be done"....don't CM me. (You can't be saved....largely because you believe you can't be).

Opinion not based in fact or anything that has been posted on this thread except by you.

All those who have read this long boring diatribe....and TRULY want to be better off.....CM me...tell me your (honest) story and I'll teach you how to be (better off).

You told us how you did it. You had a painting business where you paid your employees double union wages and got rich at it



I never said I paid anyone double what they were worth,

Since I did not say you did why are you denying it?

rather, paid them what they were worth.

No you said you paid them over union scale

I also didn't become rich from a painting business.

Actually you said you had failed at business many times but somehow did not go bankrupt with your failed businesses.




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Profile   Post #: 164
RE: Why are so few people wealthy? - 9/18/2014 6:14:32 AM   
thompsonx


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ORIGINAL: Sanity

Mine was based on killing poor people to make rich people richer...no unicorns.

I always had you pegged


The only thing you ever pegged is the leprechaun who lives in your barn.

as a Leprechauns and Unicorns / communism / moms basement sort of troll


That would be the nature of a right wing asshole.
Long on opinion and short on facts.


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Profile   Post #: 165
RE: Why are so few people wealthy? - 9/18/2014 6:15:19 AM   
GoddessManko


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quote:

ORIGINAL: thompsonx

Actually you are full of shit as usual.


"According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn."

http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/




Pretty impressive.


_____________________________

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The Bird of Hermes is my name, eating my wings to make me tame.

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RE: Why are so few people wealthy? - 9/18/2014 6:17:14 AM   
thompsonx


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ORIGINAL: GoddessManko

Pretty impressive.


I know


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Profile   Post #: 167
RE: Why are so few people wealthy? - 9/18/2014 6:25:32 AM   
GoddessManko


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P(t) = Pv0e^{rt}

_____________________________

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http://submissivemale.blogspot.com/

The Bird of Hermes is my name, eating my wings to make me tame.

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Profile   Post #: 168
RE: Why are so few people wealthy? - 9/18/2014 6:44:38 AM   
thompsonx


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ORIGINAL: GoddessManko


P(t) = Pv0e^{rt}


Vraiment


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Profile   Post #: 169
RE: Why are so few people wealthy? - 9/18/2014 9:53:43 PM   
LookieNoNookie


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quote:

ORIGINAL: thompsonx


ORIGINAL: LookieNoNookie

Anyone that doesn't work hard enough, plant seeds, weed their garden....yeah, they deserve to have less.

Absolutely.


So everyone with a trust fund needs to get a job and have the trust fund taken away since he did not earn it?



Nope.

The trustfunder did not work and yet you approve of them having what they did not earn why not the rest of humainty?




You're a marooooon.

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Profile   Post #: 170
RE: Why are so few people wealthy? - 9/18/2014 9:55:19 PM   
LookieNoNookie


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quote:

ORIGINAL: thompsonx


ORIGINAL: LookieNoNookie


Ya know....there's these things called libraries....they have books called biographies and autobiographies....tons of info there.

Then, there's this cool thing called Google. Awesome resource.

But then, you want someone to do the work for you, don't you?

It is not my job to substantiate your ignorant opinions. It is my job to point out when you have your feet in your mouth and your head up your ass.




Of course it is.

You are the headquarters of same.

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Profile   Post #: 171
RE: Why are so few people wealthy? - 9/18/2014 9:56:56 PM   
LookieNoNookie


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quote:

ORIGINAL: thompsonx


ORIGINAL: LookieNoNookie

Actually that's a faulty statistic.

90% of businesses are "not in business" after 20 years.

Some retire, some sell out, some merge and some fail.

The more accurate number is in the first 5 years, 30% of business fail. In the first 10, upwards of 50%.

After that, very few fail.


Actually you are full of shit as usual.


"According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn."

http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/




Well, YOU are the arbiter of truth so, why should I doubt you?

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Profile   Post #: 172
RE: Why are so few people wealthy? - 9/18/2014 10:01:04 PM   
LookieNoNookie


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quote:

ORIGINAL: thompsonx


ORIGINAL: LookieNoNookie


quote:

ORIGINAL: thompsonx

ORIGINAL: LookieNoNookie

Ya know what....all you fuck offs that seem to believe "it can't be done"....don't CM me. (You can't be saved....largely because you believe you can't be).

Opinion not based in fact or anything that has been posted on this thread except by you.

All those who have read this long boring diatribe....and TRULY want to be better off.....CM me...tell me your (honest) story and I'll teach you how to be (better off).

You told us how you did it. You had a painting business where you paid your employees double union wages and got rich at it



I never said I paid anyone double what they were worth,

Since I did not say you did why are you denying it?

rather, paid them what they were worth.

No you said you paid them over union scal
e

I also didn't become rich from a painting business.

Actually you said you had failed at business many times but somehow did not go bankrupt with your failed businesses.






Which, is what they were worth. It had nothing to do with union wages or some 2X of same. Could have been 6 bucks....could have been 40 bucks.

I have failed at some business and succeeded at others.

As have others.

Your point?

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Profile   Post #: 173
RE: Why are so few people wealthy? - 9/18/2014 10:05:05 PM   
subrosaDom


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quote:

ORIGINAL: LookieNoNookie


quote:

ORIGINAL: thompsonx


ORIGINAL: LookieNoNookie


Ya know....there's these things called libraries....they have books called biographies and autobiographies....tons of info there.

Then, there's this cool thing called Google. Awesome resource.

But then, you want someone to do the work for you, don't you?

It is not my job to substantiate your ignorant opinions. It is my job to point out when you have your feet in your mouth and your head up your ass.




Of course it is.

You are the headquarters of same.


Nowadays libraries have more and more hagiographies, so long as the subject is a leftist. From Che to Fidel to Hugo to Ayers to Barack, the list grows and grows.


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The surest way to corrupt a youth is to instruct him to hold in higher esteem those who think alike than those who think differently.

- Nietzsche

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Profile   Post #: 174
RE: Why are so few people wealthy? - 9/18/2014 11:31:46 PM   
Edwynn


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~FR~

OK here again we have the repetitious response that factual presentation of the world economic reality is ... (drum roll) ; 'defeatist ' nothing more than 'hand-wringing,' even 'communist'.

Well screw me for trying to learn anything in my International Economics class or especially that Economic Development class, but unfortunately those were required courses for my major, and concentration within. With all the models and formulas derived from math and empirical accumulation and the math and the statistics from real world situations, etc. And somehow through all that, I failed to see either professor wring his or her hands on a single occasion, and amazingly missed out on what should have been an obvious defeatism on their part. And I must have gotten away with quite a bit with a significant dearth of hand-wringing or defeatism in any of the seemingly innumerable papers I had to write, because I somehow got good grades on them, though I hate writing and had to go through tons of arduous research in any case. These were no "feel good" classes, no doubt, but their was nothing about any of econ courses I went trough that took much notice of about how anybody was supposed to 'feel' about anything. The "dismal science," if you like.

If you want to say that OECD and the US BEA and the Commerce Dept, and the World Bank and the IMF and 100 academic journals are wringing their freakin' hands as a purpose of business, then you're welcome to it.

The proposals of the 'path to wealth' as advocated by two of the posters here can work just fine in some few countries, such as in the US. But this is an unavoidably international economy, and trying to proselytize 2-3 billion workers elsewhere in less (far less) economically developed countries that they need to stop thinking in terms of $ per hour when there is absolutely no way at all available to them otherwise that they can pursue in that country and in that particular economic situation or circumstance does absolutely zilch for their cause. And being as that one very basic tenet of economics is that if you want to sell something then there must be buyers, then reducing the number of buyers by beating the crap out of them as workers and leaving them barely anything beyond rice and a last moment payment on the shack or dormitory they live in, then they are not going to buy your product or service.

That's the other side of that pesky 'current account deficit' thing. When you keep squeezing the rest of the world (or crushing the bejeezus out of the least developed countries) for everything they've got, you should expect that they might not have any thing left to buy what your wishful thinking expects them to buy.

If you want more customers, then pay people enough to be customers. That works both domestically and internationally. I know as fact that more than a few American companies do exactly this thing, but the other fact is that Nike or Walmart or a bunch of other purely traders are NEVER going to do anything other than worsen the US trade deficit, in five different ways.

The US has a tremendous export capacity that we fall far short of because we shoot ourselves in the foot by way of seeking the cheapest labor worldwide, award CEOs bigger bonuses for borrowing a ton of money to buy smaller profit-making companies as the only way to increase revenue because they can't figure out how to make a better product within their own company in the first place, or as last resort, completely blow up the company and get a 10-120 million dollar bonus for that conflagrational effort.

Far from "running away from Chinese math" as one poster stated it (and I can't imagine what drugs exist that someone could have ingested to have come up with that completely hallucinogenic interpretation), I am stating the reality as it exists. What an idiotically US-centric myopic view. These are nice people (for the most part), and after all the crap I've seen from the party structure and their five year plans, I'm quite encouraged by what I see.

I am not worried about how much math these kids are learning, not in the least. I wouldn't have gotten through 3/4 of my math and statistics courses with out the more advanced of them. What I am worried about is that these 100s of thousands of Chinese university students are seeing firsthand the completely fucked up attitude existing in the US about how good for business it is to keep Indonesians and Malaysians and Chinese and Mexicans completely in the dirt as workers. Believe me, that's going to come back and bite us in a major way 20-30 years from now.

I'm not 'wringing my hands' about a damn thing. I'm telling people to wake up to world reality as it exists and quit being so insanely stupid.








< Message edited by Edwynn -- 9/19/2014 12:24:53 AM >

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Profile   Post #: 175
RE: Why are so few people wealthy? - 9/19/2014 1:49:47 AM   
Edwynn


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PS

How the point was so completely missed that the mass army of Chinese students and what they are learning in US universities for their own purpose, vs. the Pollyanna purpose invested in those same studies by US kids, is eventually going to play out in a way that 'surprises' us, actually proves the point so perfectly.

I'm not worried about the Chinese getting too much smarter (as a country) too quickly. That's going to take awhile, given their population and where they are coming from. The worrisome thing is about how much more stupid the US is becoming, much more rapidly, with the very same academic tools at hand.

It's a matter of purpose.



< Message edited by Edwynn -- 9/19/2014 2:20:07 AM >

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RE: Why are so few people wealthy? - 9/19/2014 5:55:36 AM   
Musicmystery


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The only problem here is that you and a few others continually insist on comparing apples and oranges and cling to either/or extremes as the only "reality."

That people have options is not the same as saying they all have the same opportunities, or even attractive ones. Microeconomic issues are not the same as international economics. Helping people better use their resources to create income streams that serve customers isn't the same as ignoring global economic realities. And so forth.

Nor is anyone selling the path to wealth here. But y'all continue to read everything as only fitting into your pre-conceived boxes. As soon as "business" comes up, instead of realizing that the *majority* of businesses are small, independent operations, you jump to Wal-Mart, China, etc.

Others trot out warnings that many businesses fail (though Lookie is right--often they just move on to other projects), as if this is inherent to business, without even considering the reality that a lot of people march into businesses with very crappy plans and practices. They don't have to do it that way.

So why the insistence on disputing what so many people are demonstrating in their daily lives, from the plumber down the street to the dairy farmer with 1000 head to the private consultant to the web page entrepreneur?

* you're apparently desperate to shoot down anything that challenges your comfortable excuses so that you can remain in your comfort zone
* your ego cannot embrace the possibility that perhaps you weren't entirely correct.

Unfortunately, those two factors make learning impossible for you in any meaningful way. All you can do is continually recreate your current situation.

And then the continual silly assumption that anyone able to create business must be a right wing big-party Republican.

Not that it matters for the economic discussion, but I'm a progressive hawk on social issues. I'm for far greater regulation of Wall St. I believe the future of our security and well-being rests with addressing global problems successfully, that difficult as this is, it's essential. I believe Reagan was a douche for not stamping out diseases we had on the run simply because he wanted to save a few bucks in third world counties. And I know that poverty in those countries is far more complicated than sending aid--not that I'm against that, I'm not, but that the political and social realities there severely complicate matters. Doesn't mean we shouldn't be involved -- means it will take more complex solutions. And we have solutions that are working -- ones posters here have ridiculed, but not refuted. Ones that get entire communities on their feet again.

I'm an environmental protection hawk. I'm for corporate taxes, and progressive income tax structures. I'm for tighter regulation of lending policies. I think what used to be called usury is now called banking. I'm for prosecution of financial criminals. I think social programs are essential.

On the other hand, I advocate free trade, and believe the solutions to world economy issues need to embrace world solutions, not nationalistic protectionism, which would do incredible damage to the economy at all economic levels.

And that "trickle-down" is the biggest bullshit ever spoken.

You want to live in a world with no options, fine. But closing your eyes doesn't make them vanish. It just means you've cut off your access to them.

Yup, they aren't always rosy options. But it's where to start.

And yes, I see the attitudes portrayed here as pretty defeatist -- by definition, in fact.

So enjoy -- go off on another tangent. Figure out another way people who have found solutions are clueless about reality. Build another wall around your cave.

Or, as some posters do, create another story about how bloodshed in the streets is going to resolve this.

Granted, the current macroeconomic model is outdated and unsustainable. Already, new ways are sprouting. But solutions need to be grounded in reality--not attitude.




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Profile   Post #: 177
RE: Why are so few people wealthy? - 9/19/2014 7:07:00 AM   
Zonie63


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Joined: 4/25/2011
From: The Old Pueblo
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quote:

ORIGINAL: Edwynn
I am not worried about how much math these kids are learning, not in the least. I wouldn't have gotten through 3/4 of my math and statistics courses with out the more advanced of them. What I am worried about is that these 100s of thousands of Chinese university students are seeing firsthand the completely fucked up attitude existing in the US about how good for business it is to keep Indonesians and Malaysians and Chinese and Mexicans completely in the dirt as workers. Believe me, that's going to come back and bite us in a major way 20-30 years from now.

I'm not 'wringing my hands' about a damn thing. I'm telling people to wake up to world reality as it exists and quit being so insanely stupid.


Excellent points and a well-written post all the way around. There's a bigger picture to the global economy that a few posters in this thread just aren't seeing. They think that it all comes down to "choices" and that if someone is poor and down-and-out, then it's their own fault because of the choices they've made in life. That may be partially true to some extent, but the bottom line is that such talk is used to misdirect and deflect any discussion which might entail criticism of the ruling class and the current political system. I expect someone to play the "love it or leave it" card here pretty soon.





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Profile   Post #: 178
RE: Why are so few people wealthy? - 9/19/2014 11:02:34 AM   
Zonie63


Posts: 2826
Joined: 4/25/2011
From: The Old Pueblo
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quote:

ORIGINAL: Musicmystery
Others trot out warnings that many businesses fail (though Lookie is right--often they just move on to other projects), as if this is inherent to business, without even considering the reality that a lot of people march into businesses with very crappy plans and practices. They don't have to do it that way.

So why the insistence on disputing what so many people are demonstrating in their daily lives, from the plumber down the street to the dairy farmer with 1000 head to the private consultant to the web page entrepreneur?

* you're apparently desperate to shoot down anything that challenges your comfortable excuses so that you can remain in your comfort zone
* your ego cannot embrace the possibility that perhaps you weren't entirely correct.


It's not that way at all, and in fact, much of the situation you've outlined and the arguments you've made are essentially correct.

But the reality of the situation still is as it is. Regardless of how people get into the traps and pitfalls, whether it's due to their own choices or the choices made by others, that's the situation that society is facing.

But to say "they should make better choices" and leave it at that...that's not a solution, that's a justification. All you're really doing is justifying your own position by saying "others can do it too," so that if they don't do it, it means they won't do it, so your position is justified, and that's the end of the argument in your eyes. All in a nice little package which sounds quite logical and reasonable from a certain perspective.

Trouble is, life doesn't exist in nice little packages. I'm not saying that your view is "wrong," but I think it's too selective and insulated. You're only looking at a few trees and not the entire forest.

quote:


Unfortunately, those two factors make learning impossible for you in any meaningful way. All you can do is continually recreate your current situation.

And then the continual silly assumption that anyone able to create business must be a right wing big-party Republican.


I wouldn't say that, although I think you've said it yourself on more than one occasion when you've mentioned that "Obama is Bush Lite." By the same token, I would say that Clinton was Reagan Lite. The Democratic Party stopped being the "party of the working man" decades ago (if even they ever were).


quote:


Not that it matters for the economic discussion, but I'm a progressive hawk on social issues. I'm for far greater regulation of Wall St. I believe the future of our security and well-being rests with addressing global problems successfully, that difficult as this is, it's essential. I believe Reagan was a douche for not stamping out diseases we had on the run simply because he wanted to save a few bucks in third world counties. And I know that poverty in those countries is far more complicated than sending aid--not that I'm against that, I'm not, but that the political and social realities there severely complicate matters. Doesn't mean we shouldn't be involved -- means it will take more complex solutions. And we have solutions that are working -- ones posters here have ridiculed, but not refuted. Ones that get entire communities on their feet again.


The problems we face on a global level are long-term. To some extent, a large part of the problem that I've observed whenever there are discussions of economics is that there is far too much ideological adherence without much attention paid to the practical reality of what's actually going on. There have been those who equate support for laissez-faire economics with American patriotism, thus introducing an emotional component into the argument which is unnecessary, irrelevant, and rather cheap and convenient.

It also convolutes the argument when support for a free-market global economic system is tied in with US patriotism which also entails support of US interventionist activities around the same globe we claim we want to cooperate and do business with. It's two-faced and hypocritical, and much of the rest of the world can clearly see this, as well as many of us within America. This kind of shit has to stop.

I have mixed feelings on the idea of "foreign aid," depending on where it goes, who distributes it, and how much they end up keeping for themselves.

The thing about the "global economy" is this, at least when looking at it from a more historical perspective. As a long-term consequence of colonialism, imperialism, world wars, and a Cold War, large portions of the world were left in a total mess, not just in terms of the physical/economic damage, but also the psychological damage and the legacy of "bad blood" that still exists.

quote:


I'm an environmental protection hawk. I'm for corporate taxes, and progressive income tax structures. I'm for tighter regulation of lending policies. I think what used to be called usury is now called banking. I'm for prosecution of financial criminals. I think social programs are essential.

On the other hand, I advocate free trade, and believe the solutions to world economy issues need to embrace world solutions, not nationalistic protectionism, which would do incredible damage to the economy at all economic levels.

And that "trickle-down" is the biggest bullshit ever spoken.

You want to live in a world with no options, fine. But closing your eyes doesn't make them vanish. It just means you've cut off your access to them.

Yup, they aren't always rosy options. But it's where to start.

And yes, I see the attitudes portrayed here as pretty defeatist -- by definition, in fact.


Well, of course, there are always options. "Defeatist" is simply a point of view. If I propose options which you oppose, then I could just as easily call you "defeatist." But the thing is, it's not a question of your solutions being "wrong," but it's more a matter of whether you're correctly identifying the problem at hand.

quote:


So enjoy -- go off on another tangent. Figure out another way people who have found solutions are clueless about reality. Build another wall around your cave.

Or, as some posters do, create another story about how bloodshed in the streets is going to resolve this.


Well, if human history is anything to go by, that's how a lot of issues have been resolved. I wish it wasn't that way, and by all rights, it really shouldn't be that way. But we live in a country which has built up a great deal of wealth that way. That's not liberal/leftist prattle, that's just the facts as they are. That's the reality. Sure, we can insulate ourselves, grab a chunk of change and live a comfortable retirement in a gated community with a small army of security guards to keep us safe. Many also believe in keeping their own arsenal of weapons, just in case. What do you think they're afraid of? What are they expecting?

quote:

Granted, the current macroeconomic model is outdated and unsustainable. Already, new ways are sprouting. But solutions need to be grounded in reality--not attitude.


On a global scale, I think we need to be careful about how we carry our attitude and our ideology. I don't think we should get too reckless. The world is too diplomatically and geopolitically conflicted to have a truly organized and law-abiding "global economy" at this point. Domestic politics are also a bit conflicted, rooted in ideological differences. That's nothing new, but those differences and divisions may be outdated as well. Some people still seem stuck in "Cold War" mode.

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Profile   Post #: 179
RE: Why are so few people wealthy? - 9/19/2014 1:39:26 PM   
Edvynn


Posts: 17
Joined: 10/26/2008
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quote:

The only problem here is that you and a few others continually insist on comparing apples and oranges and cling to either/or extremes as the only "reality."


Ya don't say? I and a few others are the "only" problem, whereas you apparently are the solution. What a stud.

quote:

Microeconomic issues are not the same as international economics.


Ya don't say? Who the f*ck would have known? I mean, aside from the clear implication of that fact in my posts which was actually clear enough to the reading comprehension-competent, who the heck would have known?

As for the rest of the post, all I can say is "Wow." I mean, wow. So let's roll with that, then.

OK, I'm busted, you caught me.

I mean, after 25 years of a f*ck-all and f*ckwit job, I decided (note that last word) to go back to the uni because ... I wanted to stay in my comfort zone, and I had no options. Yeah, I can't escape it, you got me on that one.

And I knew going in that I was not the most mathematically inclined person, and hated writing long papers requiring arduous and tedious research, and that an econ major would entail a boatload of both. But I knew that I was sick and tired of reading the news and the history books that could do nothing more than enumerate a long list of fiascoes or relate the latest fiascoes one after another with nothing more than pedantic-cum-meaningless explanations for any of it.

But even with that history major option (which would have been cake for me) staring me right in the face, ...

Well, you know how it turned out. I just had to choose to the econ major because ...

Yep, you got it: So I could stay in my comfort zone, ignore the reality of my situation, and, best of all, refused to see any options because I refused to see them.

Well, after all that, I can report that this no-option/yet-serenely-comforting venture was every bit as ass-kicking as I expected, but I vaguely recall some quote from Teddy Roosevelt that tells me this means I was having a great time.

In any event, I thought all this was going to fool the world, but you caught me out when nobody (and I do mean nobody) else did.

Gotta say it: you are nothing short of amazing.








< Message edited by Edvynn -- 9/19/2014 2:38:27 PM >

(in reply to Musicmystery)
Profile   Post #: 180
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