Earlier quoted context omitted.
The problem is one of gross, immoral and unjustifiable inequality. Everything else is just semantics, conjecture and informed or misinformed opinion. I hope I live to see the day when the parasites of society meet their reckoning as I believe the idea of a more equal society coming about by reason as totally naive and foolhardy.
So... let's kill all the greedy Jews that charge interest for their money lending? /s No thanks. I think a few reforms are enough to make things fair - a UBI, capital gains treated as normal income, and political funding reform. We don't need any more of these: https://en.wikipedia.org/wiki/Mass_killings_under_Communist_...
Challenging the myth that the rich are specially-talented wealth creators
181–190 of 228 posts
Re: Challenging the myth that the rich are specially-talented wealth creators
#182Earlier quoted context omitted.
Hardly thousands That is a barefaced lie. Forgetting the rest of the evil attributable to Communist ideology, the Ukrainian Genocide alone is evidence that it was many more than "hardly thousands": http://www.ncas.rutgers.edu/center-study-genocide-conflict-r... Indeed, one need only consider the ease of which one could immigrate out of USSR, or other Communist states for that matter, to know something was seriously f…
This was not equality of misery. It was equality of opportunities. My father was a factory worker, my mother was from peasants family. They were able to put me into high class secondary school and I was in position to select any university after graduating from it. In the modern UK this is financially impossible for a family like that to give that kind of education to their kids. Besides, there was no such thing as '…
Re: Challenging the myth that the rich are specially-talented wealth creators
#183No problem with that. Its a system. Rich stays rich, poor stays poor. Exceptions only proves the validity of this general rule. http://www.spiegel.de/static/happ/_pattern/story/foundation/... My favourite joke about 'How you managed to become a millionaire' has a morale that power and wealth is always inherited. Gates maybe a 'self-made' multibillionaire, but his very functioning in this quality only makes "rich stay…
But wouldn't be irresponsible hubris for Gates to meddle in Mexico? It was when William Randolph Hearst meddled in Mexico. If "social revolution in Mexico" looks like "social revolution in Egypt" then I fail to see a probable upside.
Re: Challenging the myth that the rich are specially-talented wealth creators
#184My theory is it's a cartel of cartels. It was always a possibility given all the markets naturally seem to develop oligopolies and shift to cartel-like behavior. Buying off politicians to protect profit or market share was also common. So, what happened is that they started acting collectively for whatever interests them. They still compete or argue for other things but certain laws and trends are valuable for all ri…
I am giving you the important data point. 2010. Lady Barbara Judge in Astana. 2015 UK is building 5 new nuclear power stations, and public is generally unaware of the fact.
Our best example in recent times is still 2008. In this case, the elites crash the whole system, get paid off for it, and get criminal immunity. This kind of event and resulting deal should be non-existent in a democracy. Whereas, in Iceland, they overthrew the dirty politicians, jailed them, jailed the bankers involved, seized banks, and reoriented their banks and news to prevent such things in future. Healthy democracy in action.
The media's role in keeping elite's schemes going is pivotal. I think the strategy has to be on them. Anyone doing a revolution should hit the media rather than just the government. Make sure each side gets a say with reporters digging into root problems and potential solutions. People can then push for what they believe will work through regular, government structures. They can't act without being informed. So, corporate media is root problem here.
Note: I've observed the same thing in Russia. Their media, at least RT, is even worse as it's basically a government spokespiece. Ours still compete with each other with at least several calling out government in big ways without anyone getting shot. The times they self-censor and are pervasively corrupt are protecting capitalist class that funds them. So, huge problem, but enough media protection here to maybe accomplish something. I'm more worried for Russians given Putin's recent laws on bloggers, etc plus risk journalists face in general.
Re: Challenging the myth that the rich are specially-talented wealth creators
#185Part of the reasoning here is that rentiers are not contributing to wealth creation and therefore their earnings on the rent are parasitic, therefore 'unjust and dysfuctional': "Since it’s a payment for nothing that didn’t already exist, it’s a deadweight cost, and so not only unjust but also dysfunctional for the economy. " The practice of renting exists as an option to owning. By renting, renters can engage in an a…
Unless subsidized or losing money, the rent is more than a mortgage payment would be. If we had low enough transaction costs it would be better if everyone just owned their homes via mortgage for even short time frames.
1) You have to buy for resale, not to fit your budget best. People tend to want to max out their mortgages these days. And if you are trying to sell into a downturn, it can be a problem.
2) Fees at time of sale. 6% twice ( once at purchase, once at sale ) eats 12% for the life of the mortgage.
Re: Challenging the myth that the rich are specially-talented wealth creators
#186Earlier quoted context omitted.
He was right and wrong. He was right that 100,000 British men couldn't use lead with obviously-bad situation to control India. He was wrong given small numbers of men used a careful combo of military, money, and media to control U.S., Britain, and India. Currently, India mainly serves as cheap labor to support money-making operations in U.S., Britain, and other countries. Gandhi was ultimately wrong: original exploit…
But in the case of India, didn't they try the other way and it didn't work for them, so they decided to go on the way of liberal economic reforms, while still adapting patent law to their unique circumstances(which i fully support) ?
I'd still be interested in whatever historical points or patent differences you're talking about. I'm also assuming you're Indian as well?
Re: Challenging the myth that the rich are specially-talented wealth creators
#187Earlier quoted context omitted.
I am giving you the important data point. 2010. Lady Barbara Judge in Astana. 2015 UK is building 5 new nuclear power stations, and public is generally unaware of the fact.
Her background is like a whose-who of scheming companies and groups. She was apparently pretty effective, too. Not that great an example, though, given people only care about nuclear so much. Our best example in recent times is still 2008. In this case, the elites crash the whole system, get paid off for it, and get criminal immunity. This kind of event and resulting deal should be non-existent in a democracy. Wherea…
Re: Challenging the myth that the rich are specially-talented wealth creators
#188Earlier quoted context omitted.
>Mortgage paymenets are almost entirely interest in the early years. So in many cases there's little difference. People generally don't buy houses in order to rent them. Usually houses are rented out when the owner is moving and decides to rent it out rather than sell, at which point the owner has a substantial amount of capital in the house.
And? Are they supposed to let people use the house for free? It seems like communists are willfully ignorant of the time value of money.
Re: Challenging the myth that the rich are specially-talented wealth creators
#189Earlier quoted context omitted.
But wouldn't be irresponsible hubris for Gates to meddle in Mexico? It was when William Randolph Hearst meddled in Mexico. If "social revolution in Mexico" looks like "social revolution in Egypt" then I fail to see a probable upside.
ok, call it 'social rearrangement'. Lets make Mexico more democratic, give more power to people, protect elections, and give basic income to every Mexican. Gates's money is more than enough to provide basic income to 10 generations of mexican people. Will never happen though.
But he has stories - like his brother fixed up a car nicely. There's a tax on that, and the car was simply taken, and his brother was taken to jail.
If you slosh money around in Mexico, chances are that somebody will take it upon themselves to collect it for themselves.
All this being said, Mexico itself seems to be slowly becoming less poor over time. They are, ironically, starting to have problems with people from Central and South America, both criminals an ostensibly non-criminals.
Re: Challenging the myth that the rich are specially-talented wealth creators
#190Earlier quoted context omitted.
"In the example of home rental, making homes available for rent enables families to live in accommodations that they would not be able to purchase. These accommodations are not without cost to the owner: Taxes, utilities, maintenance, security and administration are all associated costs that rent payments offset. What the rentier provides in most cases, is a better quality of life than the family could have if they w…
> the competition for rental property is so fierce now that in many places, monthly rent to the private landlord is higher than a monthly mortgage payment would be to buy a similar property. This is not a malfunction of the market. Economically renting is always expected to cost more than buying. Renting has advantages over buying: * No need to have a significant amount of cash to deposit * Flexibility to move out in…
Come on. I buy a house for 100k, and rent it out for a bit less than the mortgage repayments. In 10 years, I sell it for 200k. How is there no incentive to rent in that period?