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  1. #381
    Q: Why was astrology invented?


    A: So economics could be an accurate science.

    Infracted: Please refrain from posting off topic and not contributing to the discussion at hand.
    Last edited by Wikiy; 2013-02-13 at 11:33 PM.

  2. #382
    Quote Originally Posted by Didactic View Post
    Again, minimum wage increases do not result in increased running costs for the majority of businesses. Additionally, the demand created by the increased liquidity would offset the mythological 'increased cost'.
    I am sorry, but that is a moronic statement. Wage increases do not result in increased running costs???? Its Math. If it cost me more per hour how is that not increasing my running costs? WTH!

  3. #383
    Banned Daelak's Avatar
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    Quote Originally Posted by Didactic View Post
    You cannot blame the wealthy; they're just business majors, not economics majors.
    It just strengthens the argument that there is no such thing as a rational economic agent (the wealthy) and an efficient market. Which further disproves the notion that all the wealthy people in the country are smarter, luckier, and worked harder for their *relative* success.

  4. #384
    The Insane Didactic's Avatar
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    Quote Originally Posted by HankIV View Post
    I am sorry, but that is a moronic statement. Wage increases do not result in increased running costs???? Its Math. If it cost me more per hour how is that not increasing my running costs? WTH!
    Endus pretty much answered this.

    ---------- Post added 2013-02-13 at 11:05 AM ----------

    Quote Originally Posted by Daelak View Post
    It just strengthens the argument that there is no such thing as a rational economic agent (the wealthy) and an efficient market. Which further disproves the notion that all the wealthy people in the country are smarter, luckier, and worked harder for their *relative* success.
    A lot of them inherit their wealth or gain it through, as I said, speculation on derivatives, real-estate, and other forms of economic masturbation.
    Right, as the world goes, is only in question between equals in power, while the strong do what they can and the weak suffer what they must.
    - Thucydides

    There is a modern myth that people have always tended towards democracy, constitutions, electoral rights; but in truth, love of freedom has never been the predominant note of popular politics. At most times, popular demand has been for a strong government.
    - Eugen Weber

  5. #385
    Banned Daelak's Avatar
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    Quote Originally Posted by Didactic View Post
    The 'freedom of choice of employer' myth is a very annoying talking point, really...
    Very annoying, and increasingly dis-proven every day. In every single instance of increasing of a salary you see and instance of increased aggregate demand.

    This is true because the wealthy, even with all their investment and luxury goods, do not have the aggregate purchasing power of hundreds of millions of people.

  6. #386
    Moderator Endus's Avatar
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    Quote Originally Posted by HankIV View Post
    I am sorry, but that is a moronic statement. Wage increases do not result in increased running costs???? Its Math. If it cost me more per hour how is that not increasing my running costs? WTH!
    Because most businesses can make up the difference elsewhere, like reducing CEO compensation and shareholder dividends. That reduces the running costs to offset the increases due to wage hikes.

    Your argument seems to be that no company can ever offer employees a wage increase without increasing the prices on their products.

  7. #387
    The Insane Didactic's Avatar
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    Quote Originally Posted by Daelak View Post
    Very annoying, and increasingly dis-proven every day. In every single instance of increasing of a salary you see and instance of increased aggregate demand.

    This is true because the wealthy, even with all their investment and luxury goods, do not have the aggregate purchasing power of hundreds of millions of people.
    Which is hilarious because of how disparate the wealth distribution is in this country...no wonder the economy went to pot.
    Right, as the world goes, is only in question between equals in power, while the strong do what they can and the weak suffer what they must.
    - Thucydides

    There is a modern myth that people have always tended towards democracy, constitutions, electoral rights; but in truth, love of freedom has never been the predominant note of popular politics. At most times, popular demand has been for a strong government.
    - Eugen Weber

  8. #388
    Quote Originally Posted by ptwonline View Post
    Why not listen to people who are actually involved with businesses and in particular start-ups? For example, Mark Cuban. Especially starting at the 50 second mark.

    http://www.youtube.com/watch?v=0XbS7kBbjFo
    OMG could you have posted a more bias source then that if i would have known this was Pig Maher i would have never clicked on it now ive got to go and take my PC to the shop and have his vile crap removed from my hard drive

    If Pig Maher is your Economnic guru you deserve to live under comunism

  9. #389
    Quote Originally Posted by Didactic View Post
    A lot of them inherit their wealth or gain it through, as I said, speculation on derivatives, real-estate, and other forms of economic masturbation.
    http://finance.yahoo.com/news/pf_article_110333.html

    2. Millionaires Just Inherited Their Money
    According to Thomas J. Stanley's book, "The Millionaire Next Door: The Surprising Secrets of America's Wealthy," only 20% of millionaires inherited their riches. The other 80% are what you'd call nouveau riche: first-generation millionaires who earned their cash on their own. Many millionaires simply worked, saved, and lived within their means to generate their wealth -- think accountants and managers: regular people going to work every day. Most millionaires didn't get their riches overnight when a rich relative died -- they worked for the money.

  10. #390
    The Insane Didactic's Avatar
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    Quote Originally Posted by GreatSageCorban View Post
    http://finance.yahoo.com/news/pf_article_110333.html

    2. Millionaires Just Inherited Their Money
    According to Thomas J. Stanley's book, "The Millionaire Next Door: The Surprising Secrets of America's Wealthy," only 20% of millionaires inherited their riches. The other 80% are what you'd call nouveau riche: first-generation millionaires who earned their cash on their own. Many millionaires simply worked, saved, and lived within their means to generate their wealth -- think accountants and managers: regular people going to work every day. Most millionaires didn't get their riches overnight when a rich relative died -- they worked for the money.
    20% is 'a lot', to my mind. Furthermore, 'earning' is a very loaded term; I wouldn't call stock investments and derivative speculation hard work.
    Right, as the world goes, is only in question between equals in power, while the strong do what they can and the weak suffer what they must.
    - Thucydides

    There is a modern myth that people have always tended towards democracy, constitutions, electoral rights; but in truth, love of freedom has never been the predominant note of popular politics. At most times, popular demand has been for a strong government.
    - Eugen Weber

  11. #391
    Quote Originally Posted by Endus View Post
    Because most businesses can make up the difference elsewhere, like reducing CEO compensation and shareholder dividends. That reduces the running costs to offset the increases due to wage hikes.

    Your argument seems to be that no company can ever offer employees a wage increase without increasing the prices on their products.
    No company that wants to maintain executive management compensation and dividends can. I really find it interesting that people will champion businesses evading government regulation, as if a business has "rights."

  12. #392
    The Insane Didactic's Avatar
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    Quote Originally Posted by Vyxn View Post
    OMG could you have posted a more bias source then that if i would have known this was Pig Maher i would have never clicked on it now ive got to go and take my PC to the shop and have his vile crap removed from my hard drive

    If Pig Maher is your Economnic guru you deserve to live under comunism
    Define 'communism', please.

    ---------- Post added 2013-02-13 at 11:11 AM ----------

    Quote Originally Posted by Tinykong View Post
    No company that wants to maintain executive management compensation and dividends can. I really find it interesting that people will champion businesses evading government regulation, as if a business has "rights."
    It's the government's fault for declaring corporations as legal persons, truthfully.
    Right, as the world goes, is only in question between equals in power, while the strong do what they can and the weak suffer what they must.
    - Thucydides

    There is a modern myth that people have always tended towards democracy, constitutions, electoral rights; but in truth, love of freedom has never been the predominant note of popular politics. At most times, popular demand has been for a strong government.
    - Eugen Weber

  13. #393
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    Quote Originally Posted by Didactic View Post
    20% is 'a lot', to my mind. Furthermore, 'earning' is a very loaded term; I wouldn't call stock investments and derivative speculation hard work.
    Then why aren't you doing it?

  14. #394
    Banned Daelak's Avatar
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    Quote Originally Posted by GreatSageCorban View Post
    http://finance.yahoo.com/news/pf_article_110333.html

    2. Millionaires Just Inherited Their Money
    According to Thomas J. Stanley's book, "The Millionaire Next Door: The Surprising Secrets of America's Wealthy," only 20% of millionaires inherited their riches. The other 80% are what you'd call nouveau riche: first-generation millionaires who earned their cash on their own. Many millionaires simply worked, saved, and lived within their means to generate their wealth -- think accountants and managers: regular people going to work every day. Most millionaires didn't get their riches overnight when a rich relative died -- they worked for the money.
    Of course, and many people with net-worth over a million took them almost 20-30 years to achieve because of the education and rising to the competitive salary. Suffice to say, if it wasn't for the GI Bill and all the other social programs that helped subsidize living expenses for the millions of Americans after WWII, then the American middle class and consequently our consumer economy would have never existed.

  15. #395
    Quote Originally Posted by GreatSageCorban View Post
    http://finance.yahoo.com/news/pf_article_110333.html

    2. Millionaires Just Inherited Their Money
    According to Thomas J. Stanley's book, "The Millionaire Next Door: The Surprising Secrets of America's Wealthy," only 20% of millionaires inherited their riches. The other 80% are what you'd call nouveau riche: first-generation millionaires who earned their cash on their own. Many millionaires simply worked, saved, and lived within their means to generate their wealth -- think accountants and managers: regular people going to work every day. Most millionaires didn't get their riches overnight when a rich relative died -- they worked for the money.
    What percentage of those people got to where they are without their parents footing their education expenses, or giving them seed money to start a business?

  16. #396
    The Insane Didactic's Avatar
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    Quote Originally Posted by Kalyyn View Post
    Then why aren't you doing it?
    What part of 'economic masturbation' did you miss? Furthermore, I don't have the capital available, and though I could acquire it I wouldn't waste it on the stock market.
    Right, as the world goes, is only in question between equals in power, while the strong do what they can and the weak suffer what they must.
    - Thucydides

    There is a modern myth that people have always tended towards democracy, constitutions, electoral rights; but in truth, love of freedom has never been the predominant note of popular politics. At most times, popular demand has been for a strong government.
    - Eugen Weber

  17. #397
    Quote Originally Posted by Didactic View Post
    If it is not hate, at the very least it is vitriol.

    Furthermore, considering the President actually has very little power compared to, say, Congress, I would say it is unjustified, yes. Obama has done very well considering the House is controlled by idiots.
    It's not vitriol. Every politician does this in their SOTU, why can't you accept this? And by the way, what did Obama do to NDAA? Did he sign it himself, or did congress hold a gun to his head?

  18. #398
    Quote Originally Posted by Kalyyn View Post
    Then why aren't you doing it?

    I need some capital, mind lending me some?


  19. #399
    Quote Originally Posted by Kalyyn View Post
    Then why aren't you doing it?
    Stock investments and derivatives are essentially gambling. So you're asking him: "why aren't you gambling away your money?"
    It doesn't take hard work, it takes luck and a bit of foresight or insider trading.

  20. #400
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    Quote Originally Posted by Raybourne View Post
    It's not vitriol. Every politician does this in their SOTU, why can't you accept this? And by the way, what did Obama do to NDAA? Did he sign it himself, or did congress hold a gun to his head?
    I suspect he offered to compromise in order to get DADT thrown out. Ultimately the more important thing in the long run.
    Right, as the world goes, is only in question between equals in power, while the strong do what they can and the weak suffer what they must.
    - Thucydides

    There is a modern myth that people have always tended towards democracy, constitutions, electoral rights; but in truth, love of freedom has never been the predominant note of popular politics. At most times, popular demand has been for a strong government.
    - Eugen Weber

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