Corporations as creatures of gov't shouldn't exist. You described the exact problem - moral hazard in all of these limited liability laws.
There should be no moral hazard of gov't limiting liability for anyone's actions, because you get BP and oil all over you when liability is limited and there is a 70Million USD cap on drilling.
Of-course the other side of it is that Federal gov't shouldn't be allowed to regulate businesses or individuals in terms of business at all and it shouldn't be allowed to impose ANY income related taxes.
Competition among States is a good thing, not a bad one. Without competition among States and only with one Central Planner in Chief you end up without any choices.
Ron Paul.
Because everybody should have the right to choose and not to be forced into once central government system.
- and it should NOT happen if it is not profitable.
Profit is the only measuring stick that truly tells us whether something needs to be done or not. Profit is the only real measurement, the only true democracy.
He is not cutting enough. He is not cutting in time.
AFAIC it's a good start, but its FAR from perfect. He needs to cut 3 Trillion in ONE year, not 1 Trillion. He needs to have the budget balanced in 2 years, not in 3.
But this is a START. We must start somewhere. IRS must also be shut down, by the way, he is not even talking about that right now unfortunately.
Freddie/Fannie, FHA, HUD, FDA, FAA, EPA, CIA, FBI, dep't of energy, education, agriculture, business and it is STILL NOT ENOUGH.
He can't rely on attrition, he needs to FIRE 10 MILLION people right away, in the FIRST year from the gov't. He needs to fire 10 MORE MILLION in the next year.
And this is STILL NOT ENOUGH.
He needs to REDUCE the size of military industrial complex by LETTING GO of 75% of military. AND EVEN THAT IS NOT ENOUGH.
He needs to abolish all of the business and labor regulations. EVENT THAT IS NOT ENOUGH.
He needs to get rid of all of this nonsense - so called 'civil rights' bullshit, which is nothing more than a bunch of entitlements for some and obligations for others.
AND EVEN THAT IS NOT ENOUGH.
All of the gov't involvement into business must stop. There must be no more subsidies to any business.
SS and Medicare MUST SHUT DOWN. No more minimum wage, no more gov't involvement into any unions.
The only money is gold.
Once he does all of that, finally it will be enough, but not good enough to make sure that it does not return.
He needs to ensure that none of this stuff returns. The Constitution needs amendments to PREVENT future governments from returning back with any of this nonsense.
It's only enough, when the gov't knows its place - in the gutters. The place of gov't is in the gutters. Gov't cannot be trusted.
Gov't must not be trusted. Gov't cannot be allowed to regulate any business. Gov't cannot be allowed to prevent any liberties, it must be FORCED to PROTECT liberties and private property and contract law, otherwise the gov't is not just impotent at its direct job, it's detrimental to the society.
All of gov't functions must be severely limited by a very specific Constitutional change that would put an end to all of the above activities not just at this point, but for a long long time (until they inevitably figure out a way around it, as they always do, but then at least another 2-3 hundred years will pass and it will be up to the future population to fix their own problems created by the cracking gov't force.)
even at the speed of light most stars are too far away, at speeds lower than speed of light by hundreds of times, generations of people would have to be born and die in the ship before getting to the next star. Being born and dying in a tin can - space ship. Not a planet.
The majority of the human population might therefore eventually live "enroute" on various stations. OK, so what?
- yeah, let's just decide that we want to enslave generations of people to live in a tin can their entire lives without having any choice on the matter whatsoever.
If they don't like it? Well, they can always just commit an interstellar suicide and open the hatches somehow or blow it up to smithereens.
Let me guess, you aren't a big believer in individual human rights, are you?
USD also has no value. It's printed and nothing is produced to create it, it's all a bubble, and one day people who have US dollars are going to wake up and see that just like the BitCoins, USD are worth 1/10th of what they were worth yesterday.
Childhood cannot be extended based on government decree.
Childhood is not even childhood, kids shouldn't be forced into a standard procedure, where they are forced into a government program and cannot escape it to do something that's more worthwhile for them (because it's illegal for them not to attend government mandated classes.)
As to Henry Ford, WTF do you know about Ford?
I have a journal entry that talks about Ford, it's much more extensive than you blabbering idiocy, and you ARE idiotic, because it's FREE MARKET CAPITALISM that allows people to work less and so doesn't require children to work, but forcing children into a system that is government mandated, where they cannot enter the workforce because it's not allowed - THAT is Big Brother way, you shit.
what good is a longer childhood just to enter the workforce later, when in fact it is too long right now, and people should be entering work-force earlier? All that time is wasted for most people starting from the 'tender' age of 12.
You are stuck thinking about 150 year average life span in a 75 year average life span society.
If the lifespan increases dramatically, so will the population, and this would mean more economic opportunities, not less.
There will be more demand for food and energy and shelter and entertainment and robots and computers and phones and pills and cars and travel and vacation and prostitutes etc.etc.etc., there will be more demand, not less.
When society increases it creates more opportunity to satisfy all sorts of various demands, and if finally the governments are put into their right place - they should know their place and be hit on the head repeatedly until they occupy their niche, the economy will grow, not shrink.
A longer time to wait for an opening at company? What a slave mentality thinking. Start your own goddamn company catering to all this new demands and come up with your own solutions and sell that into the ever increasing markets.
People don't understand that individuals are not liability, they are assets and resources and markets.
arbitrary gene selection has nothing to do with fitness for survival, as we've seen with dog breeding.
- as I said: it's an interesting theory and it's even more interesting in practice. What do you have against it?
As to this:
so the people that take more than their fair share today will be the same people in the future, only they'll be better looking?
- I disagree. When Jobs died people didn't say he 'took more than his fair share'. When people create businesses and make much more money than they ever use on themselves AND they continue working, they are basically benefactors. They build the economy so that then others can come and claim that they 'took more than their fair share'. They definitely pay more than anything that could ever be considered 'fair share' in both taxes and work.
Oh, sure, everybody who has debt find this appealing. Too bad for everybody who ever saved and whose money was loaned out.
However you have a mortgage, so you want debt to be forgiven, but your house is an asset that was bought by the bank and it's owned by the bank. You can easily have your debt forgiven - walk out of your mortgage.
If you don't walk out, but you want the debt forgiven, then what you actually want is confiscation of an asset from the bank, who owns it, and transfer of that asset to you.
-- Except for free money printed by the federal reserve, where do banks NORMALLY get money from? Loans by the bank's clients (so called 'depositors', but they are no depositors, they are lenders).
So for all debts to be 'forgiven', all of those loans to the banks also must be forgiven. This means everybody loses their meager savings, the personal accounts and pension funds and all the bonds ever printed by the government and all private corporations.
Don't forget, any bond is a debt obligation - you own any shares of a company? Company's debts are now forgiven, your shares are confiscated.
Of-course if such a thing was to happen, then the incentive to loan anybody any money again would be near 0. The interest on any debt would have to be approaching 100%/year (if not MORE), because the moral hazard would exist - anybody would just accumulate all the debts they could because you know what? They 'forgave' all the debts once, why not again?
--
Of-course this is what Americans are counting on right now, they are getting into more and more credit card debt as they have their mortgages. Somebody who makes 30-40K/year, has a 300K mortgage and 30K on a credit card... this person knows that he will NEVER be able to pay it, so for him the incentive is now to get as many credit cards as he possibly can, and buy more on them. 30K? Why not 35K? 40K? 50K?
Of-course who is really suffering, right? Just those Chinese, who produced all these goods and will not get their money back (also a confiscation).
--
So what about those student loans? All those students were told they need a degree or they won't get any job at all. So they went for those sociology majors and literature, etc., who cares what, right? After all - government guaranteed the debt. I expect the gov't WILL 'forgive' the debt. Of-course again, this is a giant confiscation, but also a huge moral hazard.
The only way that would make at least minimum amount of sense would be to forgive student debt by means testing (so only forgive it to those, who can't pay), but also get rid of student debt guarantee, so banks would really have no reason to give out loans to all those students for tens and hundreds of thousands of dollars for sociology.
Private loans are still possible, but you have to prove to the bank that you are doing something productive, so that you will be able to pay the money back. At the same time the demand for education would CRASH, because most people won't get loans, and it's a good thing, it would immediately bring the prices down (and many of those ridiculous institutions will have to downsize and cut spending as well).
This is a GOOD thing. USA doesn't need millions of sociology majors. It needs actual workers and business people - the kind that go out and do something on their own.
--
The entire system is broken of-course, many debts won't be repaid, not just by students and house 'owners', but by financial institutions and cities and States and countries. But this will NOT increase prosperity, but it will put an end to all this borrowing as interest rates would be crazy high due to all this moral hazard.
I am pretty certain that a reply is in order in most cases, and the reply that is in order needs to be in kind. In any situation, I don't leave my comments for anyone's personal amusement, I leave them because I want to.
1. Abolition of private property and the application of all rents of land to public purposes. 2. A heavy progressive or graduated income tax. 3. Abolition of all rights of inheritance. 4. Confiscation of the property of all emigrants and rebels. 5. Centralization of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly. 6. Centralization of the means of communications and transportation in the hands of the State. 7. Extension of factories and instruments of production owned by the state, the bringing into cultivation of waste lands, and the improvement of the soil generally in accordance with a common plan. 8. Equal liability of all to labor. Establishment of industrial armies, especially for agriculture. 9. Combination of agriculture with manufacturing industries, gradual abolition of the distinction between town and country, by a more equitable distribution of population over the country. 10. Free education for all children in public schools. Abolition of children's factory labor in its present form. Combination of education with industrial production.
Here are some of the OWS demands that I gave a point by point analysis in a link in my first comment:
Demand one: Restoration of the living wage........ raise the minimum wage to twenty dollars an hr.
Demand two: Institute a universal single payer healthcare system.
Demand three: Guaranteed living wage income regardless of employment.
Demand four: Free college education.
Demand five: Begin a fast track process to bring the fossil fuel economy to an end while at the same bringing the alternative energy economy up to energy demand.
Demand six: One trillion dollars in infrastructure (Water, Sewer, Rail, Roads and Bridges and Electrical Grid) spending now.
Demand seven: One trillion dollars in ecological restoration planting forests, reestablishing wetlands and the natural flow of river systems and decommissioning of all of America's nuclear power plants.
Demand eight: Racial and gender equal rights amendment.
Demand nine: Open borders migration. anyone can travel anywhere to work and live.
Demand ten: Bring American elections up to international standards of a paper ballot precinct counted and recounted in front of an independent and party observers system.
Demand eleven: Immediate across the board debt forgiveness for all. Debt forgiveness of sovereign debt, commercial loans, home mortgages, home equity loans, credit card debt, student loans and personal loans now! All debt must be stricken from the "Books." World Bank Loans to all Nations, Bank to Bank Debt and all Bonds and Margin Call Debt in the stock market including all Derivatives or Credit Default Swaps, all 65 trillion dollars of them must also be stricken from the "Books." And I don't mean debt that is in default, I mean all debt on the entire planet period.
Demand twelve: Outlaw all credit reporting agencies.
Demand thirteen: Allow all workers to sign a ballot at any time during a union organizing campaign or at any time that represents their yeah or nay to having a union represent them in collective bargaining or to form a union.
-----
I thus contend that Communist Manifesto is NOTHING compared to the list of demands from the OWS movement based on just the points about guaranteed minimum income, guaranteed health care and overall debt forgiveness ALONE, never mind the rest of that drivel.
My point stands, you have no right to call my statements ignorant as you have no idea what you are talking about.
There is nothing wrong with a cast system that is created purely artificially because one cast has more resources to select for better genetic outcomes than another.
It's basically directed genetic breeding that would go on for the richer folks and the rest will be left to the normal breeding patterns. In reality this will only add diversity and the society may or may not be better off, I don't know, but it's certainly going to be an interesting experiment, I would love to see it happen, it's interesting in theory and it's even more interesting in practice.
Slashdot Mirror
Corporations as creatures of gov't shouldn't exist. You described the exact problem - moral hazard in all of these limited liability laws.
There should be no moral hazard of gov't limiting liability for anyone's actions, because you get BP and oil all over you when liability is limited and there is a 70Million USD cap on drilling.
Of-course the other side of it is that Federal gov't shouldn't be allowed to regulate businesses or individuals in terms of business at all and it shouldn't be allowed to impose ANY income related taxes.
Competition among States is a good thing, not a bad one. Without competition among States and only with one Central Planner in Chief you end up without any choices.
Ron Paul.
Because everybody should have the right to choose and not to be forced into once central government system.
If it isn't profitable, it won't happen.
- and it should NOT happen if it is not profitable.
Profit is the only measuring stick that truly tells us whether something needs to be done or not. Profit is the only real measurement, the only true democracy.
He is not cutting enough. He is not cutting in time.
AFAIC it's a good start, but its FAR from perfect. He needs to cut 3 Trillion in ONE year, not 1 Trillion. He needs to have the budget balanced in 2 years, not in 3.
But this is a START. We must start somewhere. IRS must also be shut down, by the way, he is not even talking about that right now unfortunately.
Freddie/Fannie, FHA, HUD, FDA, FAA, EPA, CIA, FBI, dep't of energy, education, agriculture, business and it is STILL NOT ENOUGH.
He can't rely on attrition, he needs to FIRE 10 MILLION people right away, in the FIRST year from the gov't. He needs to fire 10 MORE MILLION in the next year.
And this is STILL NOT ENOUGH.
He needs to REDUCE the size of military industrial complex by LETTING GO of 75% of military. AND EVEN THAT IS NOT ENOUGH.
He needs to abolish all of the business and labor regulations. EVENT THAT IS NOT ENOUGH.
He needs to get rid of all of this nonsense - so called 'civil rights' bullshit, which is nothing more than a bunch of entitlements for some and obligations for others.
AND EVEN THAT IS NOT ENOUGH.
All of the gov't involvement into business must stop. There must be no more subsidies to any business.
SS and Medicare MUST SHUT DOWN. No more minimum wage, no more gov't involvement into any unions.
The only money is gold.
Once he does all of that, finally it will be enough, but not good enough to make sure that it does not return.
He needs to ensure that none of this stuff returns. The Constitution needs amendments to PREVENT future governments from returning back with any of this nonsense.
It's only enough, when the gov't knows its place - in the gutters. The place of gov't is in the gutters. Gov't cannot be trusted.
Gov't must not be trusted.
Gov't cannot be allowed to regulate any business.
Gov't cannot be allowed to prevent any liberties, it must be FORCED to PROTECT liberties and private property and contract law, otherwise the gov't is not just impotent at its direct job, it's detrimental to the society.
All of gov't functions must be severely limited by a very specific Constitutional change that would put an end to all of the above activities not just at this point, but for a long long time (until they inevitably figure out a way around it, as they always do, but then at least another 2-3 hundred years will pass and it will be up to the future population to fix their own problems created by the cracking gov't force.)
even at the speed of light most stars are too far away, at speeds lower than speed of light by hundreds of times, generations of people would have to be born and die in the ship before getting to the next star. Being born and dying in a tin can - space ship. Not a planet.
this is just an Amazon ad, every selection you make in that 'interactive' char ends up with an Amazon link.
The majority of the human population might therefore eventually live "enroute" on various stations. OK, so what?
- yeah, let's just decide that we want to enslave generations of people to live in a tin can their entire lives without having any choice on the matter whatsoever.
If they don't like it? Well, they can always just commit an interstellar suicide and open the hatches somehow or blow it up to smithereens.
Let me guess, you aren't a big believer in individual human rights, are you?
USA has an obesity problem (too much sugar), so I can see an ad: "Are you a REAL PATRIOT? Be all you can be - get a liposuction!"
USD also has no value. It's printed and nothing is produced to create it, it's all a bubble, and one day people who have US dollars are going to wake up and see that just like the BitCoins, USD are worth 1/10th of what they were worth yesterday.
Childhood cannot be extended based on government decree.
Childhood is not even childhood, kids shouldn't be forced into a standard procedure, where they are forced into a government program and cannot escape it to do something that's more worthwhile for them (because it's illegal for them not to attend government mandated classes.)
As to Henry Ford, WTF do you know about Ford?
I have a journal entry that talks about Ford, it's much more extensive than you blabbering idiocy, and you ARE idiotic, because it's FREE MARKET CAPITALISM that allows people to work less and so doesn't require children to work, but forcing children into a system that is government mandated, where they cannot enter the workforce because it's not allowed - THAT is Big Brother way, you shit.
Value? I don't think the submitter knows what that word means.
There is no value in Bitcoins, there never was, it was always a valueless concept.
Where we're going, we don't need roads.
Or combustion engines.
Sorry, I didn't mean to say Libyans. I meant to say lesbians.
Nobody needs more than 1.21 gigawatts.
what good is a longer childhood just to enter the workforce later, when in fact it is too long right now, and people should be entering work-force earlier? All that time is wasted for most people starting from the 'tender' age of 12.
were the Libyans notified?
This sucker is electrical!
The only question remains - do you need to wait for a lightning storm to charge it?
Same questions are raised, there is no reason to rewrite everything, that's what HTML is for and all the anchor tags, isn't it?
AFAIC it's all government's fault.
You are stuck thinking about 150 year average life span in a 75 year average life span society.
If the lifespan increases dramatically, so will the population, and this would mean more economic opportunities, not less.
There will be more demand for food and energy and shelter and entertainment and robots and computers and phones and pills and cars and travel and vacation and prostitutes etc.etc.etc., there will be more demand, not less.
When society increases it creates more opportunity to satisfy all sorts of various demands, and if finally the governments are put into their right place - they should know their place and be hit on the head repeatedly until they occupy their niche, the economy will grow, not shrink.
A longer time to wait for an opening at company? What a slave mentality thinking. Start your own goddamn company catering to all this new demands and come up with your own solutions and sell that into the ever increasing markets.
People don't understand that individuals are not liability, they are assets and resources and markets.
arbitrary gene selection has nothing to do with fitness for survival, as we've seen with dog breeding.
- as I said: it's an interesting theory and it's even more interesting in practice. What do you have against it?
As to this:
so the people that take more than their fair share today will be the same people in the future, only they'll be better looking?
- I disagree. When Jobs died people didn't say he 'took more than his fair share'. When people create businesses and make much more money than they ever use on themselves AND they continue working, they are basically benefactors. They build the economy so that then others can come and claim that they 'took more than their fair share'. They definitely pay more than anything that could ever be considered 'fair share' in both taxes and work.
My take on these demands.
Oh, sure, everybody who has debt find this appealing. Too bad for everybody who ever saved and whose money was loaned out.
However you have a mortgage, so you want debt to be forgiven, but your house is an asset that was bought by the bank and it's owned by the bank. You can easily have your debt forgiven - walk out of your mortgage.
If you don't walk out, but you want the debt forgiven, then what you actually want is confiscation of an asset from the bank, who owns it, and transfer of that asset to you.
--
Except for free money printed by the federal reserve, where do banks NORMALLY get money from? Loans by the bank's clients (so called 'depositors', but they are no depositors, they are lenders).
So for all debts to be 'forgiven', all of those loans to the banks also must be forgiven. This means everybody loses their meager savings, the personal accounts and pension funds and all the bonds ever printed by the government and all private corporations.
Don't forget, any bond is a debt obligation - you own any shares of a company? Company's debts are now forgiven, your shares are confiscated.
Of-course if such a thing was to happen, then the incentive to loan anybody any money again would be near 0. The interest on any debt would have to be approaching 100%/year (if not MORE), because the moral hazard would exist - anybody would just accumulate all the debts they could because you know what? They 'forgave' all the debts once, why not again?
--
Of-course this is what Americans are counting on right now, they are getting into more and more credit card debt as they have their mortgages. Somebody who makes 30-40K/year, has a 300K mortgage and 30K on a credit card... this person knows that he will NEVER be able to pay it, so for him the incentive is now to get as many credit cards as he possibly can, and buy more on them. 30K? Why not 35K? 40K? 50K?
Of-course who is really suffering, right? Just those Chinese, who produced all these goods and will not get their money back (also a confiscation).
--
So what about those student loans? All those students were told they need a degree or they won't get any job at all. So they went for those sociology majors and literature, etc., who cares what, right? After all - government guaranteed the debt. I expect the gov't WILL 'forgive' the debt. Of-course again, this is a giant confiscation, but also a huge moral hazard.
The only way that would make at least minimum amount of sense would be to forgive student debt by means testing (so only forgive it to those, who can't pay), but also get rid of student debt guarantee, so banks would really have no reason to give out loans to all those students for tens and hundreds of thousands of dollars for sociology.
Private loans are still possible, but you have to prove to the bank that you are doing something productive, so that you will be able to pay the money back. At the same time the demand for education would CRASH, because most people won't get loans, and it's a good thing, it would immediately bring the prices down (and many of those ridiculous institutions will have to downsize and cut spending as well).
This is a GOOD thing. USA doesn't need millions of sociology majors. It needs actual workers and business people - the kind that go out and do something on their own.
--
The entire system is broken of-course, many debts won't be repaid, not just by students and house 'owners', but by financial institutions and cities and States and countries. But this will NOT increase prosperity, but it will put an end to all this borrowing as interest rates would be crazy high due to all this moral hazard.
I am pretty certain that a reply is in order in most cases, and the reply that is in order needs to be in kind. In any situation, I don't leave my comments for anyone's personal amusement, I leave them because I want to.
I didn't say it had anything to do with the Communist manifesto, I said (and I quote):
And now, the people are occupying Wall Street with demands that give the Communist Manifesto itself run for its money
.
It gives Communist Manifesto RUN FOR ITS MONEY.
Here is Communist Manifesto in simple point form:
1. Abolition of private property and the application of all rents of land to public purposes.
2. A heavy progressive or graduated income tax.
3. Abolition of all rights of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralization of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.
6. Centralization of the means of communications and transportation in the hands of the State.
7. Extension of factories and instruments of production owned by the state, the bringing into cultivation of waste lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal liability of all to labor. Establishment of industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries, gradual abolition of the distinction between town and country, by a more equitable distribution of population over the country.
10. Free education for all children in public schools. Abolition of children's factory labor in its present form. Combination of education with industrial production.
Here are some of the OWS demands that I gave a point by point analysis in a link in my first comment:
Demand one: Restoration of the living wage. ....... raise the minimum wage to twenty dollars an hr.
Demand two: Institute a universal single payer healthcare system.
Demand three: Guaranteed living wage income regardless of employment.
Demand four: Free college education.
Demand five: Begin a fast track process to bring the fossil fuel economy to an end while at the same bringing the alternative energy economy up to energy demand.
Demand six: One trillion dollars in infrastructure (Water, Sewer, Rail, Roads and Bridges and Electrical Grid) spending now.
Demand seven: One trillion dollars in ecological restoration planting forests, reestablishing wetlands and the natural flow of river systems and decommissioning of all of America's nuclear power plants.
Demand eight: Racial and gender equal rights amendment.
Demand nine: Open borders migration. anyone can travel anywhere to work and live.
Demand ten: Bring American elections up to international standards of a paper ballot precinct counted and recounted in front of an independent and party observers system.
Demand eleven: Immediate across the board debt forgiveness for all. Debt forgiveness of sovereign debt, commercial loans, home mortgages, home equity loans, credit card debt, student loans and personal loans now! All debt must be stricken from the "Books." World Bank Loans to all Nations, Bank to Bank Debt and all Bonds and Margin Call Debt in the stock market including all Derivatives or Credit Default Swaps, all 65 trillion dollars of them must also be stricken from the "Books." And I don't mean debt that is in default, I mean all debt on the entire planet period.
Demand twelve: Outlaw all credit reporting agencies.
Demand thirteen: Allow all workers to sign a ballot at any time during a union organizing campaign or at any time that represents their yeah or nay to having a union represent them in collective bargaining or to form a union.
-----
I thus contend that Communist Manifesto is NOTHING compared to the list of demands from the OWS movement based on just the points about guaranteed minimum income, guaranteed health care and overall debt forgiveness ALONE, never mind the rest of that drivel.
My point stands, you have no right to call my statements ignorant as you have no idea what you are talking about.
There is nothing wrong with a cast system that is created purely artificially because one cast has more resources to select for better genetic outcomes than another.
It's basically directed genetic breeding that would go on for the richer folks and the rest will be left to the normal breeding patterns. In reality this will only add diversity and the society may or may not be better off, I don't know, but it's certainly going to be an interesting experiment, I would love to see it happen, it's interesting in theory and it's even more interesting in practice.