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Why I’m ALL-IN On Tesla Stock

bobknight33 says...

Duly noted.

Sift animosity aside, given and taken. I truly desire all to succeed.

Your statements about the economy as a whole applies to all, whether they diversify or solely own just 3 stocks or less.


I don't fear a crash of 87 or 2008. But your are right the ground beneath us is shaking. Having belief in our leaders and FED to do the the right thing is a is half harted. Even if they choose a proper corrective path it will be a bumpy ride.



You are right I am forward thinking and willing to take a few hard bumps over the next 10 years. I believe the upside is worth this risk.


I don't want a japan crash that took 25+ years to recover, or a 1929 crash which took 10 years and war to recover.

Every hard crash recovers, eventually.

If things go bad I will exit. Granted no one has perfect timing and neither do I. Will I loose 20 30% probably.

I do watch markets daily.


I'm 60 with 2 years left on the house mortgage. I will have a GE pension and hopefully some SS. Granted inflation can eat that 4K/month away but it will still help. Also I would continue to work.

And if that's not enough at least the house will be paid for and I will eat PB and J. or rice and beans.

StukaFox said:

Bob, please read this carefully. I know we fuck around a lot here, but I 100% honestly don't want to see you get hurt financially.

Obviously, if you believe in TSLA, I understand you putting your money where your mouth is (full disclosure: I'm holding POTX and CURLF, so I'm on the same page with what I'm saying on this) but PLEASE don't bet money you don't have on TSLA.

“At 10-times revenues, to give you a 10-year payback (P/E 10, my note), I must pay you 100% of revenues for 10-straight years in dividends. That assumes I can get that by my shareholders. It also assumes I have zero cost of goods sold, which is very hard for a computer company.

That assumes zero expenses, which is hard with 39,000 employees. That assumes I pay no taxes, which is very hard. And that expects you pay no taxes on your dividends, which is kind of illegal. And that assumes with zero R&D for the next 10-years, I can maintain the current revenue run rate.

Now, having done that, would any of you like to buy my stock at $64? Do you realize how ridiculous those underlying assumptions are? You don’t need any transparency. You don’t need any footnotes.

What were you thinking?”

-- Scott McNealy was the CEO of Sun Microsystems
2002

At the peak of the Dot-Com, roughly 30 stocks in the NASDAQ 100 traded above 10 P/E. Today ALL stocks in the DAQ do: the average P/E is ~25.5.

TSLA is at a P/E of 175.

There is no American economy. There hasn't been since since October 3 of 2008. Things got catastrophically worse on September 17th of 2019 when the repo market came within hours of completely locking up in a catastrophe that would have made AIG look like a rounding error. The Fed was forced to firehose astronomical amounts of money into the system to keep this from happening and this was before Covid.

In Jan of 2021, there was $2.6 TRILLION in Zombie Debt out there. That's $2.6 TRILLION on the verge of default at 2021 interest rates. The Fed is now in a horrific position: raise rates and watch massive defaults explode like financial nukes, or keep rates steady and watch inflation implode the economy.

People don't understand how bad this is and how much worse it can get. If the Fed has to raise rates by 500 BP -- and Christ fucking help us if they do -- the first order defaults will be the worst in Capitalist history and the second and third order effects could very well be the nightmare scenario we came within 36 hours of in 2008.

Save your money, Bob. Cash is king. And fuck BTC.

newtboy (Member Profile)

Land of Mine Trailer

newtboy says...

Big assumption. Many Hitler youth made the choice to fight for Germany, and joined on their own before children were being drafted.

As for those that were conscripted, is it your position that draftees are somehow immune from responsibility for murdering their neighbors, women, children, rapes, burning towns, or planting millions of landmines on foreign soil, etc? How convenient for them. I don't believe that's a popular or legal position.

I take responsibility for my actions. If their fate was mine, I would be eternally grateful I was treated so much better than I would have treated them if the tables were turned. I would be part of an invading Nazi army, trying to undo just a tiny bit of the damage we had caused, doing so at the direction of my superiors just like when I caused the situation. I would deserve execution, not release. This assumes I wouldn't have the spine to refuse to be a Nazi and be imprisoned or executed.

If the majority of Germans weren't complicit, the Nazis would have never come to power. You give them far too much credit. From the holocaust encyclopedia- "Opposition to the Nazi regime also arose among a very small number of German youth, some of whom resented mandatory membership in the Hitler Youth." Same with adults, the opposition was a minority by far, not the majority of Germans. Who told you that?

"Survived the fighting"? "Here"? "They"? Please finish your thoughts so they have meaning. You seem to be equating Nazi soldiers with the Jews they tried to eradicate. What?!?

The Geneva convention we know today was ratified in 1949. The accords of 1929 were found to be totally insufficient to protect POWs, civilians, infrastructure, etc. Yes, Germany did appear violate it's vague provisions....so did the allies. That's why it was strengthened in 49.

https://en.m.wikipedia.org/wiki/Geneva_Conventions

What provision of the 1929 version do you claim this violates?

Articles 20, 21, 22, and 23 states that officers and persons of equivalent status who are prisoners of war shall be treated with the regard due their rank and age and provide more details on what that treatment should be.
Or
Articles 27 to 34 covers labour by prisoners of war. Work must fit the rank and health of the prisoners. The work must not be war-related and must be safe work. ("Safe" and "war related" being intentionally vague and unenforceable).
Please explain the specific violation that makes mine removal a "war crime". It's not war related, the war was over, and it's "safe" if done properly.
Since this was done at the direction of German officers, the convention as written then doesn't apply.

Death camp!!! LOL. Now I know you aren't serious.
"The removal was part of a controversial agreement between the German Commander General Georg Lindemann, the Danish Government and the British Armed Forces, under which German soldiers with experience in defusing mines would be in charge of clearing the mine fields.
This makes it a case of German soldiers under German officers and NCOs clearing mines under the agreement of the German commander in Denmark who remained at his post for a month after the surrender - this means Germany accepted that they had responsibility to remove the mines - they just had far too few experienced mine clearance experts and far too many “drafted” mine clearers with no real experience in doing so." So, if it's a war crime, it's one the Germans committed against themselves.

I'm happy to say that anything done to a Nazi soldier is ethical, age notwithstanding. Many Nazi youth were more zealous and violent than their adult counterparts. Removing their DNA from the gene pool would have been ethical, but illegal. Taking their country to create Israel would have been ethical, but didn't happen.

At the time, there were few mechanical means of mine removal, they didn't work on wet ground, they required a tank and that the area be pre-cleared of anti tank mines, they often get stuck on beaches, and had just over a 50% clearance rate, cost $300-$1000 per mine removed, and they were in extremely short supply after the war. The Germans volunteered in this instance. Now, the Mine Ban Treaty gives each state the primary responsibility to clear its own mines, just like this agreement did.

So you know, the film is fiction, not history. Maybe read up on the real history before attacking countries over a fictional story. History isn't nearly as cut and dry as it's presented, neither are war crimes.

psycop said:

These boys neither chose the age of conscription nor to go to war. Given their age and the time in the war, they would have been forcably made to fight. If you had the misfortune to be born then and there, thier fate could be yours.

Being in the German army did not imply being a Nazi, the majority of the German population were victims as well, pointlessly lead to slaughter by monsters.

Those of them that would have survived the fighting ended up here. They didn't feed them. They worked until they died. They expected them to die. They wanted them to die.

The Geneva Conventions were signed in 1929 making this an official war crime if that's important to you. I'd say the law does not define ethics, and I'd be happy to say this is wrong regardless of the treaty.

As for alternatives for mine clearance. I'm not a military expert, but I believe there are techniques, equipment, tools or vehicles that can be used to reduce the risk to operators. Frankly it's besides the point. Just because someone cannot think of a solution they prefer over running a death camp, does not mean they are not free to do so.

If you have the time, I'd recommend watching the film. It's excellent. And as with most things, particularly in times of war, it's complicated.

Land of Mine Trailer

psycop says...

These boys neither chose the age of conscription nor to go to war. Given their age and the time in the war, they would have been forcably made to fight. If you had the misfortune to be born then and there, thier fate could be yours.

Being in the German army did not imply being a Nazi, the majority of the German population were victims as well, pointlessly lead to slaughter by monsters.

Those of them that would have survived the fighting ended up here. They didn't feed them. They worked until they died. They expected them to die. They wanted them to die.

The Geneva Conventions were signed in 1929 making this an official war crime if that's important to you. I'd say the law does not define ethics, and I'd be happy to say this is wrong regardless of the treaty.

As for alternatives for mine clearance. I'm not a military expert, but I believe there are techniques, equipment, tools or vehicles that can be used to reduce the risk to operators. Frankly it's besides the point. Just because someone cannot think of a solution they prefer over running a death camp, does not mean they are not free to do so.

If you have the time, I'd recommend watching the film. It's excellent. And as with most things, particularly in times of war, it's complicated.

newtboy said:

If you're old enough to go to war, you're old enough to clean up your mess.
Truer words were never said.
These kids should be eternally grateful they weren't treated the same way Germany treated POWs.

Biden Has A Lot To Boast About In New Covid Relief Bill

StukaFox says...

Bob, as much as this'll surprise you, I totally agree with what you're saying. The distribution of the stimulus money to couples making up to $150,000 is friggen ridiculous -- and I'm in that category. I will do what I did with the last two checks: give to local charities helping the homeless and communities of color (as much as I hate that term).

The worst part of this is that it sets up a liquidity trap. The Fed can't reduce buying crap debt (that BBB dogshit is at 4% should terrify anyone who understands how debt and the rating agencies work), nor can they allow rates to rise (thus totally screwing responsible savers). This is the cusp of a financial disaster that blew past 1929 on 9/17/19 and is now approaching the cataclysm of the South Seas Company collapsing. As far as I can see, this is a total melt-up in the markets because there's no stable returns and everyone is now in speculation mode.

Were it my call, I would scale the money along income (or non-income) lines: $10k for the lowest incomes, sliding scale from there. I'd also set up government-backed savings accounts that pay 10% for those people and only those people. I'd also pay off/down student debt along the same income scales.

I do not begrudge the wealthy for their wealth. But capitalism can't be a winner-take-all system. We live in a society, and society will always have winners and losers. The least we can do is ease the burden for those at the bottom by taking some from the top. I'm tired of the homeless camps and mentally-ill people wandering the streets of Seattle. They are the least of us and thus should be the ones who get the most help.

bobknight33 said:

End of the day Americans got $1400 and a tax bill for 1.9 Trillion.

Again, Americans got screwed.

Mordhaus (Member Profile)

Tina Fey on Protesting After Charlottesville - SNL

TheFreak says...

Holy Fuck!! Google "Trump Bonwit Teller":

https://www.fastcodesign.com/90137202/hey-remember-when-trump-destroyed-precious-art-history

New York Times:
"Plain as the building might be, the entrance was like a spilled casket of gems: platinum, bronze, hammered aluminum, orange and yellow faience, and tinted glass backlighted at night. In 1929 American Architect magazine called it “a sparkling jewel in keeping with the character of the store.”


"Upon learning about the historic building’s imminent demolition, and recognizing the cultural value of its ornamentation, the Metropolitan Museum of Art convinced Trump to remove portions of the historic facade and donate them to the institution."

"Soon he was backpedaling, after realizing that it would take two more weeks and $32,000...to properly take the reliefs off the building. Using his fake alter ago, a “Trump spokesperson” named John Baron, he told the New York Times in 1980: “The merit of these stones was not great enough to justify the efforts to save them.” His construction workers chopped up the metalwork with torches and let the sculptures fall to the ground to crack into smithereens."

Two, 15 foot high, irreplacable, Art Deco bas-relief sculptures smashed by Trump to save $32,000 in costs to remove them.

Cows Stranded After New Zealand 7.8 Earthquake

Baristan says...

The site you linked to looks to be the best authority for data on the quake. They don't mention anywhere which scale they use. I doubt they would still be using the Richter scale, but it is a possibility. The quake very well could be 7.5Mw and the USGS is using less accurate data/modals to arrive at 7.8Mw.

...

After further investigating I don't think GeoNet has a clue which scale they use. On their history page they alternate using Mw,Ml,Ms.

using Ms value as M
http://info.geonet.org.nz/display/quake/M+7.1%2C+Arthur%27s+Pass%2C+9+March+1929

using Mw value as M
http://info.geonet.org.nz/display/quake/M+7.1%2C+Inangahua%2C+24+May+1968

using Ml value as M
http://info.geonet.org.nz/display/quake/M+6.3%2C+Christchurch%2C+22+February+2011

Would be nice if they would state and be consistent on which scale they use for magnitude. The Eiffel tower is both 276 and 302 tall.

oritteropo (Member Profile)

radx says...

Haven't seen this one in circulation yet:

Dear Chancellor Merkel,

The never-ending austerity that Europe is force-feeding the Greek people is simply not working. Now Greece has loudly said no more.

As most of the world knew it would, austerity has crushed the Greek economy, led to mass unemployment, a collapse of the banking system, made the external debt crisis far worse, with the debt problem escalating to an unpayable 175% of GDP. The economy now lies broken with tax receipts nose-diving, output and employment depressed, and businesses starved of capital.

The humanitarian impact has been colossal – 40% of children now live in poverty, infant mortality is sky-rocketing and youth unemployment is close to 50%. Corruption, tax evasion and bad accounting by previous Greek governments helped create the debt problem. But the series of so-called adjustment programs has served only to make a Great Depression the likes of which have been unseen in Europe since 1929-1933. The medicine prescribed by the German Finance Ministry and Brussels has bled the patient, not cured the disease.

Together we urge you to lead Europe to a course correction before it is too late for Greece and for the Eurozone. Right now, the Greek government is being asked to put a gun to its head and pull the trigger. Sadly, the bullet will not only kill off Greece’s future in Europe. The collateral damage will kill the Eurozone as a beacon of hope, prosperity, and democracy, and could lead to far-reaching economic consequences across the world.

In the 1950s Europe was founded on the forgiveness of past debts, notably Germany’s, which generated a massive contribution to post-war economic growth, peace, and democracy. Today we need to restructure and reduce Greek debt, give the economy breathing room to recover, and allow Greece to pay off a reduced burden of debt over a long period of time. Now is the time for a humane rethink of the punitive and failed programme of austerity of recent years and to agree to a major reduction of Greece’s debts in conjunction with much needed reforms in Greece.

We urge you to take this vital action of leadership for Greece and Germany, and also for the world. History will remember you for your actions this week. We expect and count on you to provide the bold and generous steps towards Greece that will serve Europe for generations to come.

Yours sincerely,

Heiner Flassbeck, former State Secretary in the German Federal Ministry of Finance;

Thomas Piketty, Professor of Economics at the Paris School of Economics;

Jeffrey D. Sachs, Professor of Sustainable Development, Professor of Health Policy and Management, and Director of the Earth Institute at Columbia University;

Dani Rodrik, Albert O. Hirschman Professor of Social Sciences at the Institute for Advanced Study in Princeton;

Simon Wren-Lewis, Professor of economics, Blavatnik School of Government, Oxford University

Doctor Disobeys Gun Free Zone -- Saves Lives Because of It

Trancecoach says...

You seem to think that eliminating guns will somehow eliminate mass shootings. However, there is zero correlation to the number of legal gun ownerships with the number of homicides. In fact, here are some statistics for you:

At present, a little more than half of all Americans own the sum total of about 320 million guns, 36% of which are handguns, but fewer than 100,000 of these guns are used in violent crimes. And, as it happens, where gun ownership per capita increases, violent crime is known to decrease. In other words, Caucasians tend to own more guns than African Americans, middle aged folks own more guns than young people, wealthy people own more guns than poor people, rural families own more guns than urbanites --> But the exact opposite is true for violent behavior (i.e., African Americans tend to be more violent than Caucasians, young people more violent than middle aged people, poor people more violent than wealthy people, and urbanites more violent than rural people). So gun ownership tends increase where violence is the least. This is, in large part, due to the cultural divide in the U.S. around gun ownership whereby most gun owners own guns for recreational sports (including the Southern Caucasian rural hunting culture, the likes of which aren't found in Australia or the UK or Europe, etc.); and about half of gun owners own guns for self-defense (usually as the result of living in a dangerous environment). Most of the widespread gun ownership in the U.S. predates any gun control legislation and gun ownership tends to generally rise as a response to an increase in violent crime (not the other way around).

There were about 350,000 crimes in 2009 in which a gun was present (but may not have been used), 24% of robberies, 5% of assaults, and about 66% of homicides. By contrast, guns are used as self-defense as many as 2 and a half million times every year (according to criminologist Gary Kleck at Florida State University), thereby decreasing the potential loss of life or property (i.e., those with guns are less likely to be injured in a violent crime than those who use another defensive strategy or simply comply).

Interestingly, violent crimes tend to decrease in those areas where there have been highly publicized instances of victims arming themselves or defending themselves against violent criminals. (In the UK, where guns are virtually banned, 43% of home burglaries occur when people are in the home, whereas only 9% of home burglaries in the U.S. occur when people are in the home, presumably as a result of criminals' fear of being shot by the homeowner.) In short, gun ownership reduces the likelihood of harm.

So, for example, Boston has the strictest gun control and the most school shootings. The federal ban on assault weapons from '94-'04 did not impact amount and severity of school shootings. The worst mass homicide in a school in the U.S. took place in Michigan in 1927, killing 38 children. The perpetrator used (illegal) bombs, not guns in this case.

1/3 of legal gun owners obtain their guns (a total of about 200,000 guns) privately, outside the reach of government regulation. So, it's likely that gun-related crimes will increase if the general population is unarmed.

Out of a sample of 943 felon handgun owners, 44% had obtained the gun privately, 32% stole it, 9% rented/borrowed it, and 16% bought it from a retailer. (Note retail gun sales is the only area that gun control legislation can affect, since existing laws have failed to control for illegal activity. Stricter legislation would likely therefore change the statistics of how felon handgun owners obtain the gun towards less legal, more violent ways.) Less than 3% obtain guns on the 'black market' (probably due, in part, to how many legal guns are already easily obtained).

600,000 guns are stolen every year and millions of guns circulate among criminals (outside the reach of the regulators), so the elimination of all new handgun purchases/sales, the guns would still be in the hands of the criminals (and few others).

The common gun controls have been shown to have no effect on the reduction of violent crime, however, according to the Dept. of Justice, states with right-to-carry laws have a 30% lower homicide rate and a 46% lower robbery rate. A 2003 CDC report found no conclusive evidence that gun control laws reduced gun violence. This conclusion was echoed in an exhaustive National Academy of Sciences study a year later.

General gun ownership has no net positive effect on total violence rates.

Of almost 200,000 CCP holders in Florida, only 8 were revoked as a result of a crime.

The high-water mark of mass killings in the U.S. was back in 1929, and has not increased since then. In fact, it's declined from 42 incidents in 1990 to 26 from 2000-2012. Until recently, the worst school shootings took place in the UK or Germany. The murder rate and violent crime in the U.S. is less than half of what it was in the late 1980s (the reason for which is most certainly multimodal and multifaceted).

Regarding Gun-Free Zones, many mass shooters select their venues because there are signs there explicitly banning concealed handguns (i.e., where the likelihood is higher that interference will be minimal). "With just one single exception, the attack on congresswoman Gabrielle Giffords in Tuscon in 2011, every public shooting since at least 1950 in the U.S. in which more than three people have been killed has taken place where citizens are not allowed to carry guns," says John Lott.

In any case, do we have any evidence to believe that the regulators (presumably the police in this instance) will be competent, honest, righteous, just, and moral enough to take away the guns from private citizens, when a study has shown that private owners are convicted of firearms violations at the same rate as police officers? How will you enforce the regulation and/or remove the guns from those who resist turning over their guns? Do the police not need guns to get those with the guns to turn over their guns? Does this then not presume that "gun control" is essentially an aim for only the government (i.e., the centralized political elite and their minions) to have guns at the exclusion of everyone else? Is the government so reliable, honest, moral, virtuous, and forward thinking as to ensure that the intentions of gun control legislation go exactly as planned?

From a sociological perspective, it's interesting to note that those in favor of gun control tend to live in relatively safe and wealthy neighborhoods where the danger posed by violent crime is far less than in those neighborhoods where gun ownership is believed to be more acceptable if not necessary. Do they really want to deprive those who are culturally acclimatized to gun-ownership, who may be less fortunate than they are, to have the means to protect themselves (e.g., women who carry guns to protect themselves from assault or rape)? Sounds more like a lack of empathy and understanding of those realities to me.

There are many generational issues worth mentioning here. For example, the rise in gun ownership coincided with the war on drugs and the war on poverty. There are also nearly 24 million combat veterans living in the U.S. and they constitute a significant proportion of the U.S.' prison population as a result of sex offenses or violent crime. Male combat veterans are four times as likely to engage violent crime as non-veteran men; and are 4.4 times more likely to have abused a spouse/partner, and 6.4 times more likely to suffer from PTSD, and 2-3 times more likely to suffer from depression, substance abuse, unemployment, divorce/separation. Vietnam veterans with PTSD tend to have higher rates of childhood abuse (26%) than Vietnam veterans without PTSD (7%). Iraq/Afghanistan vets are 75% more likely to die in car crashes. Sex crimes by active duty soldiers have tripled since 2003. In 2007, 700,000 U.S. children had at least one parent in a warzone. In a July 2010 report, child abuse in Army families was 3 times higher if a parent was deployed in combat. From 2001 - 2011, alcohol use associated with domestic violence in Army families increased by 54%, and child abuse increased by 40%. What effect do you think that's going to have, regardless of "gun controls?"
("The War Comes Home" or as William Golding, the author of Lord of the Flies said, "A spear is a stick sharpened at both ends.")

In addition, families in the U.S. continue to break down. Single parent households have a high correlation to violence among children. In 1965, 93% of all American births were to married women. Today, 41% of all births are to unmarried women (a rate that rises to 53% for women under the age of 30). By age 30, 1/3 of American women have spent time as a single mother (a rate that is halved in European countries like France, Sweden, & Germany). Less than 9% of married couples are in poverty, but more than 40% of single-parent families are in poverty. Much of child poverty would be ameliorated if parents were marrying at 1970s rates. 85% of incarcerated youth grew up without fathers.

Since the implementation of the war on drugs, there's a drug arrest in the U.S. every 19 seconds, 82% of which were for possession alone (destroying homes and families in the process). The Dept. of Justice says that illegal drug market in the U.S. is dominated by 900,000 criminally active gang members affiliated with 20,000 street gangs in more than 2,500 cities, many of which have direct ties to Mexican drug cartels in at least 230 American cities. The drug control spending, however, has grown by 69.7% over the past 9 years. The criminal justice system is so overburdened as a result that nearly four out of every ten murders, and six out of every ten rapes, and nine out of ten burglaries go unsolved (and 90% of the "solved" cases are the result of plea-bargains, resulting in non-definitive guilt). Only 8.5% of federal prisoners have committed violent offenses. 75% of Detroit's state budget can be traced back to the war on drugs.

Point being, a government program is unlikely to solve any issues with regards to guns and the whole notion of gun control legislation is severely misguided in light of all that I've pointed out above. In fact, a lot of the violence is the direct or indirect result of government programs (war on drugs and the war on poverty).

(And, you'll note, I made no mention of the recent spike in the polypharmacy medicating of a significant proportion of American children -- including most of the "school shooters" -- the combinations of which have not been studied, but have -- at least in part -- been correlated to homicidal and/or suicidal behaviors.)

newtboy said:

Wow, you certainly don't write like it.
Because you seem to have trouble understanding him, I'll explain.
The anecdote is the singular story of an illegally armed man that actually didn't stop another man with a gun being used as 'proof' that more guns make us more safe.
The data of gun violence per capita vs percentage of gun ownership says the opposite.

And to your point about the 'gun free zones', they were created because mass murders had repeatedly already happened in these places, not before. EDIT: You seem to imply that they CAUSE mass murders...that's simply not true, they are BECAUSE of mass murders. If they enforced them, they would likely work, but you need a lot of metal detectors. I don't have the data of attacks in these places in a 'before the law vs after the law' form to verify 'gun free zones' work, but I would note any statistics about it MUST include the overall rate of increase in gun violence to have any meaning, as in 'a percentage of all shootings that happened in 'gun free zones' vs all those that happened everywhere', otherwise it's statistically completely meaningless.

The KKK vs. the Crips vs. Memphis City Council

Orz says...

I will try to say this as nicely as possible, Letting one group change the name of something because another group doesn't want to have to be reminded of the past is a prime example of how our history gets "erased". Someone decides that it makes sense that others shouldn't have to remember a person, place or concept that evokes negativeness. I guess it's just unfortunate that I have to voice my opinion on this controversial and inane concept of history rewriting (sort of). It's one of those things were rules or laws are created and we must abide by them and not make excuses or reasons to bend them per situation (I know that law doesn't apply to this situation in particular, but it is a decent enough simile to try and get my point across). I am not in disagreement as to understanding why people would like the name changed. I am in disagreement to the idea of letting someone attempt to bend the law or whatever because they don't agree with something. It's not like this park was just named after him yesterday. It was founded in 1929 and "encompasses part of Forrest's operational area during the 1864 Battle of Johnsonville, in which Forrest attacked and destroyed a Union supply depot and transfer station on the opposite bank of the river." (per wikipedia).

I guess it is also sad and possibly a reflection of myself that I like to listen to the 'stupid' rant about their one sided opinions whatever they may be; mostly so I can be reminded why I could give a shit less about politics and community.

Please excuse my probably confusing rant.

Ben Stein Stuns Fox & Friends By Disagreeing With Party Line

quantumushroom says...

“The facts are unmistakably plain for those who bother to check the facts. In 1921 when the tax rate on the people making over $100,000 a year was 73 percent, the federal government collected a little over 700 million in income taxes of which 30 percent was paid by those making over $100,000. In 1929 after a series of tax rate reductions had cut the tax rate to 24 percent on those making over $100,000 the federal government collected more than $1 billion in income taxes of which 65 percent was collected from those making over $100,000.”

--T. Sowell



Higher tax rates on the rich don’t necessarily mean higher revenue.

Peter Schiff vs. Cornell West on CNN's Anderson Cooper 360

heropsycho says...

Dude, Schiff is the one spewing the most ridiculous things from a historical perspective I've ever heard, not West. Are you saying right now that Schiff is right that child labor was ended by the free market, not gov't regulation?! That's just patently absurd!

He's saying that a guarantee of deposits by the FDIC fueled speculation. Okay, so when and why was it instituted? In *1933*, it was instituted *after* massive stock speculation among other causes triggered the Stock Market Crash of 1929, which triggered the Great Depression. As banks had invested in stocks, etc themselves (outlawed by Glass-Steagall), made bad loans, including to allow people to buy stocks on credit, etc. etc. people made runs on the banks to get their deposits out before the banks went belly up, regardless of if individual banks themselves participated in the speculation because no one knew which banks were actually in trouble. Some Depression era people put their money "under their mattresses" and a few kept that attitude up until their deaths because of those runs on the banks. The FDIC was instituted to get people to put money back into banks to rebuild on hand deposits, so banks would be able to lend again and actually stay in business. We had the FDIC for almost 80 years now, and the banking system has remarkably MORE stable than it was before the FDIC without any doubt, and this clown says it fuels speculation?! You know what you didn't see in the last recession when the market tanked? MASSIVE RUNS ON MOST BANKS! That's precisely why we have it! And it's logically ridiculous on the surface of it. Just think about it. The FDIC guarantees that I get MY money back if I deposit it to a bank that is FDIC insured, and the bank goes belly up. What happens to the bank if it makes bad decisions? It goes belly up. So why would the bank speculate in that situation due specifically to the FDIC?! THEY STILL GO BELLY UP! You can say the bank bailouts had something to do with it because now the Goldman Sachs of the world know that gov't won't let too big to fails fail. I'm sympathetic to that argument, but the FDIC's insurance on deposits?! RIDICULOUS!

Peter Schiff is not correct here. It's some of the most patently ridiculous things I've heard yet about the economy. If you've read my posts, I'm as pragmatic as one could possibly be, and I'm without a doubt a moderate. I don't give a crap whether specific gov't regulations work or not, but I don't attempt to blind myself with ideology, but this clown is going to great lengths to fundamentally rewrite historical record that's basic freaking fact about the US prior, during, and after the Great Depression that even a basic historical understanding would allow anyone to realize he's an idiot, or is at best making a disingenuous argument to trumpet free market economics for the sake of itself.

>> ^bobknight33:

Peter Schiff is correct. Cornell West foolishly wrong. He teaches African studies which teaches jack about how economies work.

GOP Pres Candidates Reject Trivial Tax Increases

westy jokingly says...

>> ^heropsycho:

A. He's a moderate. He believes in the free market most of the time, and seeks gov't intervention when the market fails. That's truly what the US has been since the 1920s. And no, his answer to everything isn't higher taxes.
B. You mean pure gov't control of all economic resources tends to fail?! EUREKA! Hey, you know what other economic system tends to fail due to human nature? CAPITALISM! Eventually, everyone does what's in their own best interests regardless of others, which destroys the common good, which hurts everyone. You know, like businesses polluting the environment because it's cheaper for them, but hurts everyone. Or ratings agencies, paid by the banks, to rate their crappy derivates as AAA. Or businesses having working conditions so poor that it threatens people's lives because it's cheaper. Or businesses producing crappy goods because it's cheaper to do it that way, to the point they threaten lives. Or...
Guess what that means?
GASP Neither ideology is right 100% of the time! Which is EXACTLY why I've slammed you and other ideologues repeatedly.
C. That's not what it ends up being. Most of Western Europe has been fairly socialist for decades. They've never come close to Communism in all that time. It's plain historical fact.
The reality is no major communist country has ever come about gradually. Russia, China, Vietnam, North Korea, East Germany, Poland, other eastern countries, not a single one was a gradual move from
Socialism to Communism. Not a single one. You're full of crap.
D. It's not semantics. There's a distinction between Socialism and Communism. Period. The two mean different things. And no, just because the state makes decisions about medical care, they don't "own" you. Why medical care? Why is that the determination between communism and capitalism? Ridiculous. And even with the Health Care Reform Bill, the gov't doesn't even have even a majority of the control for what medical care you receive.
E. Russia was also not a truly communist state. It was a communist dictatorship, with a corrupt gov't, which had nothing to do with the fact they were communist. Plenty of "capitalist" gov'ts failed too because of corruption.
I will agree that Communism doesn't tend to work either, but we also learned after 1929 neither does almost complete capitalism. Most Americans did anyway, save a select few like you. And this still isn't an argument against a mixed economy anyway.
F. Oh, hell no. You're not gonna change the subject to Social Security. You keep making Obama wanting to raise taxes a few percent on the rich as if it's a move to pure socialism, and of course, as you so hilariously put it, that might as well be Communism. That doesn't make the US socialist, communist, or any of the sort. Saying that crap is ridiculous. That's my point. You're not gonna dodge this by bringing up Social Security.
I have no faith in my answers because a cursory look at history proves every single one of them. I have facts instead. I don't vehemently argue and insist someone is dead wrong unless what they're saying is utterly absurd.


well I am ignoring everything you said you dirty socialist scum bag

GOP Pres Candidates Reject Trivial Tax Increases

heropsycho says...

A. He's a moderate. He believes in the free market most of the time, and seeks gov't intervention when the market fails. That's truly what the US has been since the 1920s. And no, his answer to everything isn't higher taxes.

B. You mean pure gov't control of all economic resources tends to fail?! EUREKA! Hey, you know what other economic system tends to fail due to human nature? CAPITALISM! Eventually, everyone does what's in their own best interests regardless of others, which destroys the common good, which hurts everyone. You know, like businesses polluting the environment because it's cheaper for them, but hurts everyone. Or ratings agencies, paid by the banks, to rate their crappy derivates as AAA. Or businesses having working conditions so poor that it threatens people's lives because it's cheaper. Or businesses producing crappy goods because it's cheaper to do it that way, to the point they threaten lives. Or...

Guess what that means?

*GASP* Neither ideology is right 100% of the time! Which is EXACTLY why I've slammed you and other ideologues repeatedly.

C. That's not what it ends up being. Most of Western Europe has been fairly socialist for decades. They've never come close to Communism in all that time. It's plain historical fact.

The reality is no major communist country has ever come about gradually. Russia, China, Vietnam, North Korea, East Germany, Poland, other eastern countries, not a single one was a gradual move from
Socialism to Communism. Not a single one. You're full of crap.

D. It's not semantics. There's a distinction between Socialism and Communism. Period. The two mean different things. And no, just because the state makes decisions about medical care, they don't "own" you. Why medical care? Why is that the determination between communism and capitalism? Ridiculous. And even with the Health Care Reform Bill, the gov't doesn't even have even a majority of the control for what medical care you receive.

E. Russia was also not a truly communist state. It was a communist dictatorship, with a corrupt gov't, which had nothing to do with the fact they were communist. Plenty of "capitalist" gov'ts failed too because of corruption.

I will agree that Communism doesn't tend to work either, but we also learned after 1929 neither does almost complete capitalism. Most Americans did anyway, save a select few like you. And this still isn't an argument against a mixed economy anyway.

F. Oh, hell no. You're not gonna change the subject to Social Security. You keep making Obama wanting to raise taxes a few percent on the rich as if it's a move to pure socialism, and of course, as you so hilariously put it, that might as well be Communism. That doesn't make the US socialist, communist, or any of the sort. Saying that crap is ridiculous. That's my point. You're not gonna dodge this by bringing up Social Security.

I have no faith in my answers because a cursory look at history proves every single one of them. I have facts instead. I don't vehemently argue and insist someone is dead wrong unless what they're saying is utterly absurd.



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