tag:blogger.com,1999:blog-1089082204850170942.post4733282366600746001..comments2024-03-21T12:52:08.166+11:00Comments on Freedom and Flourishing: Do commercial interests have excessive influence on people in modern societies?Winton Bateshttp://www.blogger.com/profile/07383561940886657594noreply@blogger.comBlogger19125tag:blogger.com,1999:blog-1089082204850170942.post-62773139796738031432011-11-22T09:08:41.032+11:002011-11-22T09:08:41.032+11:00The movement of people from big banks to governmen...The movement of people from big banks to government and back certainly doesn't look good.<br />Fortunately, that hasn't happened to the same extent in Australia. People move out of senior positions in Treasuryand the Reserve Bank to take up positions in the finance sector -but there isn't much movement in the other direction.Winton Bateshttps://www.blogger.com/profile/07383561940886657594noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-74582866308990196382011-11-22T07:44:23.600+11:002011-11-22T07:44:23.600+11:00An article from The Independent on the expansion o...An article from The Independent on the expansion of The Goldman Sachs project:<br /><br />http://www.independent.co.uk/news/business/analysis-and-features/what-price-the-new-democracy-goldman-sachs-conquers-europe-6264091.htmlNicola Moirhttps://www.blogger.com/profile/03694465554864338497noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-71552797083757898292011-11-20T20:57:25.582+11:002011-11-20T20:57:25.582+11:00A good read: http://www.unitedliberty.org/articles...A good read: http://www.unitedliberty.org/articles/9040-federal-reserve-is-conflicted-and-interestedNicola Moirhttps://www.blogger.com/profile/03694465554864338497noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-44804809572851543822011-11-20T20:54:46.470+11:002011-11-20T20:54:46.470+11:00This is very entertaining viewing. http://www.yout...This is very entertaining viewing. http://www.youtube.com/watch?v=8QRltaZFizoNicola Moirhttps://www.blogger.com/profile/03694465554864338497noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-5325851422925322252011-11-20T11:52:02.256+11:002011-11-20T11:52:02.256+11:00That's what I love about conspiracy theorists....That's what I love about conspiracy theorists. They are to the marketplace of ideas what MLM's are to the marketplace of consumer products. You think you're having a normal conversation with a normal friend, acquaintance or stranger, and when you least expect it, it hits you: Oh, by the way, this is a conversation about Amway, The Federal Reserve, etc.<br /><br /><a href="http://www.leftbusinessobserver.com/Web_of_nonsense.html" rel="nofollow">http://www.leftbusinessobserver.com/Web_of_nonsense.html</a>Lorrainehttps://www.blogger.com/profile/13567383019731167967noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-75559367791848535392011-11-19T23:59:06.107+11:002011-11-19T23:59:06.107+11:00Winton, I suggest you watch this: http://www.youtu...Winton, I suggest you watch this: http://www.youtube.com/watch?v=bhMacPvc5qc&feature=youtu.beNicola Moirhttps://www.blogger.com/profile/03694465554864338497noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-33439914831051828392011-11-19T14:54:01.750+11:002011-11-19T14:54:01.750+11:00Nicky, I didn't know about the auditing.
If it...Nicky, I didn't know about the auditing.<br />If it is true I imagine that the accounts are subject to independent scrutiny in other ways to ensure that they are accurate.Winton Bateshttps://www.blogger.com/profile/07383561940886657594noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-88420896056811756152011-11-19T13:15:29.502+11:002011-11-19T13:15:29.502+11:00Thanks Winton. I think a of people are waking up t...Thanks Winton. I think a of people are waking up to the systemic corruption in politics. <br /><br />Also did you know that the Federal Reserve of America is a private company that has never been audited? They have the monopoly on printing the US dollar. I found this out last month and my view of the world has shifted dramatically!Nicola Moirhttps://www.blogger.com/profile/03694465554864338497noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-28843062520012788852011-11-19T07:03:08.140+11:002011-11-19T07:03:08.140+11:00Nicky, I liked the article. It is interesting that...Nicky, I liked the article. It is interesting that journalists are expected to meet higher ethical standards than politicians.Winton Bateshttps://www.blogger.com/profile/07383561940886657594noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-22436224299218597772011-11-18T21:08:39.864+11:002011-11-18T21:08:39.864+11:00An interesting article on the 'money in politi...An interesting article on the 'money in politics' from Market Watch<br /><br />A nation of suckers<br />Commentary: Nancy Pelosi, Spencer Bachus and me<br /><br />By Brett Arends, MarketWatch<br /><br />SALT LAKE CITY (MarketWatch) — I’m an idiot.<br /><br />After watching the “60 Minutes” expose of insider-dealing by members of Congress, I’m left wondering (not for the first time, I might add): Why on Earth did I choose journalism as a career? Watch the “60 Minutes” report.<br /><br />Apparently we might be the only people in public life who aren’t on the take.<br /><br />Yes, I know, it’s easy to be cynical. People assume we are all “up to it,” and scandals like the one now breaking on Capitol Hill just add to that assumption.<br /><br />But it’s not true. If any reporter were caught doing the things alleged against some members of Congress, they’d be out. Canned. That afternoon. And they’d be barred from the industry for life. They’d be serving soy lattes for the rest of their days.<br /><br />Spencer Bachus was shorting stocks during the financial crisis? As a reporter for Dow Jones, I’m not allowed to short stocks or own derivatives at all.<br /><br />I’m not allowed to own any stock or bond I cover. Indeed, it is very difficult for me to own even an open-ended mutual fund I might write about. I would have loved to invest in Charles de Vaulx’s IVA Worldwide (MFD:IVWAX) fund, or in the Appleseed Fund (MFD:APPLX) run by the Strauss brothers. But these money managers are excellent sources for my articles, so the wisest thing has been, alas, for me to steer clear.<br /><br />The rules make it very difficult for me to invest at all. When I became a full-time investment writer five years ago, I had to sell all my stocks. That meant selling my Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) and my Amazon.com(NASDAQ:AMZN) Inc. I hate to think how much it’s cost me in lost profits. I have a horrible feeling that if I ever worked it out, I’d discover I have effectively been working for free.<br /><br />Meanwhile, it turns out many of the people on Capitol Hill are just “oiling the wheel” without any compunction at all.<br /><br />Sweetheart deals. Insider trading. Loading up in IPOs. It defies belief that Nancy Pelosi and her husband can own a ton of Visa (NYSE:V) stock while she is legislating on credit cards. I can’t own Visa stock while I am writing about credit cards. What is wrong with our country?<br /><br />They used to joke that politics was “showbusiness for ugly people.” Turns out it’s also the hedge-fund business for <br /><br />stupid people. Corrupt, greedy and immoral to a degree it’s hard to imagine.<br /><br />And here we are, you and I, just working for a living. What are we? A nation of suckers, that’s what.Nicola Moirhttps://www.blogger.com/profile/03694465554864338497noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-78494683771975911622011-11-18T18:50:37.577+11:002011-11-18T18:50:37.577+11:00Here is an article from Market Watch which is inte...Here is an article from Market Watch which is interesting and related to money in politics: <br /><br />A nation of suckers<br />Commentary: Nancy Pelosi, Spencer Bachus and me<br /><br />By Brett Arends, MarketWatch<br /><br />SALT LAKE CITY (MarketWatch) — I’m an idiot.<br /><br />After watching the “60 Minutes” expose of insider-dealing by members of Congress, I’m left wondering (not for the first time, I might add): Why on Earth did I choose journalism as a career? Watch the “60 Minutes” report.<br /><br />Apparently we might be the only people in public life who aren’t on the take.<br /><br />Yes, I know, it’s easy to be cynical. People assume we are all “up to it,” and scandals like the one now breaking on Capitol Hill just add to that assumption.<br /><br />But it’s not true. If any reporter were caught doing the things alleged against some members of Congress, they’d be out. Canned. That afternoon. And they’d be barred from the industry for life. They’d be serving soy lattes for the rest of their days.<br /><br />Spencer Bachus was shorting stocks during the financial crisis? As a reporter for Dow Jones, I’m not allowed to short stocks or own derivatives at all.<br /><br />I’m not allowed to own any stock or bond I cover. Indeed, it is very difficult for me to own even an open-ended mutual fund I might write about. I would have loved to invest in Charles de Vaulx’s IVA Worldwide (MFD:IVWAX) fund, or in the Appleseed Fund (MFD:APPLX) run by the Strauss brothers. But these money managers are excellent sources for my articles, so the wisest thing has been, alas, for me to steer clear.<br /><br />The rules make it very difficult for me to invest at all. When I became a full-time investment writer five years ago, I had to sell all my stocks. That meant selling my Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) and my Amazon.com(NASDAQ:AMZN) Inc. I hate to think how much it’s cost me in lost profits. I have a horrible feeling that if I ever worked it out, I’d discover I have effectively been working for free.<br /><br />Meanwhile, it turns out many of the people on Capitol Hill are just “oiling the wheel” without any compunction at all.<br /><br />Sweetheart deals. Insider trading. Loading up in IPOs. It defies belief that Nancy Pelosi and her husband can own a ton of Visa (NYSE:V) stock while she is legislating on credit cards. I can’t own Visa stock while I am writing about credit cards. What is wrong with our country?<br /><br />They used to joke that politics was “showbusiness for ugly people.” Turns out it’s also the hedge-fund business for <br /><br />stupid people. Corrupt, greedy and immoral to a degree it’s hard to imagine.<br /><br />And here we are, you and I, just working for a living. What are we? A nation of suckers, that’s what.Nicky Moirhttp://www.nicolamoirart.comnoreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-45988850215484758132011-11-16T13:02:43.272+11:002011-11-16T13:02:43.272+11:00No, the more important problem in the US is what y...No, the more important problem in the US is what you pointed out: "I think they can probably have much the same influence as now by presenting messages to voters along the lines that industry X is a big employer in this region, so be careful how you cast your vote." If people need business more than business needs people, then business has the power. And yes, the old saw about the fact that power corrupts definitely applies to the private sector.Lorrainehttps://www.blogger.com/profile/13567383019731167967noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-62887269086077918182011-11-16T07:43:34.729+11:002011-11-16T07:43:34.729+11:00Hi Nicky
I'm not sure what it means to get the...Hi Nicky<br />I'm not sure what it means to get the money out of politics. You can ban all campaign donations from corporations and unions, but that doesn't stop them from running media campaigns to push their own interests.<br />I think they can probably have much the same influence as now by presenting messages to voters along the lines that industry X is a big employer in this region, so be careful how you cast your vote.<br /><br />It seems to me that the more important problem in the US may be that the system doesn't impose much party discipline. Voters don't know who to blame for what goes wrong.Winton Bateshttps://www.blogger.com/profile/07383561940886657594noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-4538431299096650572011-11-15T22:10:01.631+11:002011-11-15T22:10:01.631+11:00Yes! we live in an era of corporatism. This is wor...Yes! we live in an era of corporatism. This is worth a look: http://www.youtube.com/watch?v=gIcqb9hHQ3ENicky Moirhttp://www.nicolamoirart.comnoreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-76895905228267526652011-11-12T11:30:32.609+11:002011-11-12T11:30:32.609+11:00Yes Lorraine, there is way too much spam in the bl...Yes Lorraine, there is way too much spam in the blogosphere. I tend to ignore comments such as those by Marketing Business. Perhaps I should delete them.Winton Bateshttps://www.blogger.com/profile/07383561940886657594noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-26148381908874510792011-11-12T08:11:36.919+11:002011-11-12T08:11:36.919+11:00OK, now even I'll grant you that advertizing p...OK, now even I'll grant you that advertizing per se contains not even a hint of coercion, but surely you'll grant that there's way too much spam in the blogosphere.Lorrainehttps://www.blogger.com/profile/13567383019731167967noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-44289771580310761382011-11-10T07:25:45.732+11:002011-11-10T07:25:45.732+11:00Hi Lorraine
Welcome back!
Rent seeking plays a bi...Hi Lorraine<br />Welcome back! <br />Rent seeking plays a big role in Jeff Sach's corporatocracy model.<br />However, it seemed to me (as a fairly ignorant outsider) that he may exaggerate the power of the industries on his list. <br /><br />I would like to see a more balanced account of the relative influence of all the groups that seek political influence.<br /><br />The point in your second comment about conservatives embracing Ayn Rand is very interesting. Some of them might have an epiphany!Winton Bateshttps://www.blogger.com/profile/07383561940886657594noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-77105257111614849812011-11-09T18:12:46.155+11:002011-11-09T18:12:46.155+11:00It should also be noted that self-identifying as l...It should also be noted that self-identifying as libertarian is quite fashionable in the USA right now, sometimes among people who have <a href="http://nominatissima.wordpress.com/2011/11/09/cognitive-dissonance/" rel="nofollow">no idea what they're talking about</a>.Lorrainehttps://www.blogger.com/profile/13567383019731167967noreply@blogger.comtag:blogger.com,1999:blog-1089082204850170942.post-81302864857527490012011-11-09T18:09:06.440+11:002011-11-09T18:09:06.440+11:00Libertarians are about the only people who believe...Libertarians are about the only people who believe that corporations are not centers of political power, I suspect mainly because of their reductionist definition of power as "force or fraud." Anyone who's signed a boilerplate contract or all the invasive credit check stuff that is part of any employment application knows that the nature of power is not as simple as libertarians make it out to be. Those libertarians (many of whom are left-libertarians, or "mutualists") who are wising up to the fact that America is a nation in which corporations hold the cards are framing the issue of corporate power not in terms of advertising being fraud (which I think is a weak case anyway), but in terms of lobbying being rent seeking, a fact which is becoming obvious to large portions of the mainstream right and left.Lorrainehttps://www.blogger.com/profile/13567383019731167967noreply@blogger.com