tag:blogger.com,1999:blog-9430835.post3214298416519040817..comments2024-03-29T05:14:33.223-07:00Comments on Steve Sailer: iSteve: IndeedUnknownnoreply@blogger.comBlogger38125tag:blogger.com,1999:blog-9430835.post-68380933343002360112011-06-12T21:47:50.150-07:002011-06-12T21:47:50.150-07:00Beowulf:
I'd guess you're right; it's...Beowulf:<br /><br />I'd guess you're right; it's "off the top of my head"--from memory (which has an awful lot of stuff in it and is in age-fading mode).Gene Bermannoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-65199571014165755902011-06-12T18:43:54.424-07:002011-06-12T18:43:54.424-07:00Our multinational giant corporations are like the ...<i>Our multinational giant corporations are like the scammy, scummy auto repairman who sees a victim instead of a customer.</i><br /><br />Right, just came across a new book on this topic that looks absolutely fascinating.<br />"In this excerpt from his new book, Fixing the Game author Roger L. Martin examines what the NFL can teach the business world about managing expectations and how CEOs are rigging the game."<br />http://www.fastcompany.com/1751344/fixing-the-game-roger-martin-nflbeowulfhttps://www.blogger.com/profile/14987548132065830204noreply@blogger.comtag:blogger.com,1999:blog-9430835.post-52059806478601687452011-06-12T18:38:10.795-07:002011-06-12T18:38:10.795-07:00If you find or have someone you trust to manage yo...If you find or have someone you trust to manage your estate when you are old and feeble, good for you. If you have no such person, try your best to maintain what you accumulated over your lifetime and direct it where you want.<br /><br />When the State or anyone steps in and takes over your affairs without your consemt, in the name of your better interest, you are about to be raped.Munchnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-47269471525809443702011-06-12T18:22:24.225-07:002011-06-12T18:22:24.225-07:00One of the first people to retire on the new Socia...<i>One of the first people to retire on the new Social Security program paid a single payment about $35, and retired the following week to (eventually) get about $25,000!</i><br /><br />Following week! Ha, that would have been kind of funny. It was actually 2 and a half years later and a bit less than $25 in total taxes paid.<br />http://www.ssa.gov/history/idapayroll.htmlbeowulfhttps://www.blogger.com/profile/14987548132065830204noreply@blogger.comtag:blogger.com,1999:blog-9430835.post-308113688620920192011-06-12T12:44:53.061-07:002011-06-12T12:44:53.061-07:00Jack Aubrey:
Your argument (and attitude) are a &...Jack Aubrey:<br /><br />Your argument (and attitude) are a "dodge"; they suck.<br /><br />When the pollicies (Social Security and especially mortgage interest tax deductibility) went into effect was long before the "civil rights" agitation or the introduction of affirmkative action, widespread welfare, public housing, food-stamp distribution, and the nit-picking enforcement of "equal employment opportunity law."<br /><br />As a matter of fact, one could make a case that the older policies not only burdened blacks discriminately--but burdened most especially precisely the group of blacks least responsible for the burdens borne by all taxpayers; it wouldn't surprise me at all to learn that many in that category were actually driven toward more solidarity with the irresponsible riff-raff precisely on account of what must have seemed flagrant and irremediable racial dicrimination.<br /><br />I want to emphasize here that I do not mean in any way to criticize<br />racism of the majority. My aim, which I'd originally intended to lay out in a two-part comment (of which this is the second) was to point out that The citizenry of the U.S. (and other societies exhibiting any significant racial or ethnic diversity) cannot hope for peaceful survival in the long run.<br /><br />The enemy is not immigration; it is not racial or ethnic difference or animosity; it is not whatever differences exist in cognitive abilities between groups; it is not in failing education (or miseducation) of the rising generations; it is not in having crooked infiltration permeating<br />trade, finance, and government, nor domination of the arts, entertainment, communications, and academia by groups (such as Jews) seen as inimical to the interests of the overwhelming majority. <br /><br />The problems mentioned above (and many others) are not, in and of themselves, causes but, rather, effects. They're the effects of SOCIALISM, especially in a multi-ethnic democracy. In the absence of socialism, groups, ethnic, class, or party cannot use law to advantage themselves at the expense of others; the role of the state is confined to far fewer functions, primary among which are defense and enforcement of civil and criminal codes of justice.<br /><br />Life itself cannot eliminate moral hazard but, under socialism, in any of its forms, such hazard proliferates to every nook and cranny of existence. Without the benefits we term "welfare," we'd not have that burden. Without minimum wage law and "unemployment benefit," we'd have almost no problem with unemployment. Without publicly-funded education, we'd have near exactly the extent and quality of eduacation people require and see kjustification in buying (like any other good or service in the market.<br /><br />I don't know how to get "there" from where we are now--don't even know whether it's possible without major disruption (and likely bloodshed). What I do know is that, if we can't, a much worse future is in store, not only for our own country but for a great portion of the rest of the world.<br /><br />EVERYTHING that anyone would need to know to understand these matters can be understood by reading the Austrian econmists, especially Mises; he laid it out rather clearly as long ago as 1920-2 and later in his HUMAN ACTION. But even he didn't see (in 1942) how we could "get from here to there," when he wrote "I set out to be a reformer but became only the historian of decline" in his memoir. And, though he lived and worked for another 30 years, he never saw reason to change that opinion. <br /><br />It's simply impossible to make people--individually or collectively--any better than they are. But socialism--to the dregree it is practiced--is certain to bring out the worst.Gene Bermannoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-12387380058696469512011-06-12T08:11:15.515-07:002011-06-12T08:11:15.515-07:00... I'd say the only safe bet is some basic as...<i> ... I'd say the only safe bet is some basic asset allocation: short-term or quickly liquid assets, some longer term assets, and medium-term assets that you have done your due diligence upon based on your macro and micro environments (will the US default/inflate away? Will the Euro go bust, etc?) With frequent re-balancing/trimming the portfolio.</i><br /><br />In other words, you no idea about what to actually, specifically do.<br /><br />For example, I'm debating whether or not to sell my VNQ shares today or tomorrow. ( VNQ -- Vanguard Real Estate Investment Trust ETF -- all commercial properties or property mgmt. firms, no single family residence mortgages.)<br /><br />Please to me whether to keep or to sell VNQ.David Davenportnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-85464040288437439702011-06-11T18:35:51.300-07:002011-06-11T18:35:51.300-07:00"But I think 'declining cognitive ability..."But I think 'declining cognitive ability' amongst the working population will prove to be a far greater problem. Since it's their work/wealth creating activity that must be taxed in order to pay benefits to the retired. "<br /><br />Jobs that lower IQ people do probably have a lot of mindless repetition involved. As long as these guys aren't forgetting how to drive or how to get from home to work, their years of practice should keep them productive enough. Higher IQ people don't decline as much. The research indicates that even if they develop Alzheimer's they stave off the decline for longer though the eventual drop off in functioning is rapid. The problem with lower IQ workers will be getting too old to do jobs requiring lots of physical labor before age 65. <br /><br />Raising the retirement age would make your conjecture more plausible. What happens to productivity when workers retire at age 70 or 75?Lucynoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-16721450962358536402011-06-11T14:59:10.974-07:002011-06-11T14:59:10.974-07:00Maybe 'declining cognitive ability' of the...Maybe 'declining cognitive ability' of the aged will affect their finances, i.e. how they manage them. <br /><br />But I think <b>'declining cognitive ability' amongst the working population</b> will prove to be a far greater problem. Since it's their work/wealth creating activity that must be taxed in order to pay benefits to the retired. And immigration is, on average, making the US workforce dumber. And dumber people cannot create the same amount of wealth.ehnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-77315276955556461892011-06-11T12:45:15.129-07:002011-06-11T12:45:15.129-07:00"Those very same generations...are those who ...<b>"Those very same generations...are those who voted, not only for a program which would collect from all black workers for their entire working lives but would blithely exclude them from a fair chance of benefitting--by setting the retirement age at about the average life expectancy of that group."</b><br /><br />Yet somehow I find it hard to get too worked up about it, since were it not for payroll taxes the net tax receipts from that group would probably be negative, thanks to deductions and refundable credits. As it is, even with payroll taxes blacks are still net tax sucks, due to their disproportionate use of welfare and the criminal justice system.<br /><br />For individuals of any race who remain employed, have well-behaved children (or none at all), who croak when they're 64 and leave no spouse or minors I do feel sorry. For much of their lives they have effectively been made a slave, unable to benefit from the income they duly earned. But for blacks as a race I feel no sorrow.Jack Aubreynoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-4201006173135135792011-06-11T11:10:24.892-07:002011-06-11T11:10:24.892-07:00This is a bonanza for scam American businesses (al...This is a bonanza for scam American businesses (all American businesses, really).<br /><br />Steve-o said something smart once that really struck a cord with me; paraphrasing: "The world's smart guys design new things to produce, new ways of making stuff; our American MBA's and smart guys design ways to obscure, complicate your bill to sneak in a bogus charge that you hopefully won't notice".<br /><br /><br />And there it is; I predict American economy to get a raise just off of that effect.<br /><br />Right now I am helping my grandma - she has apparently signed onto a service which sends her horoscopes - signed up for this plan using email (she obviously has no computer nor an email account), there are "PROTECTION PLAN" entries on her credit card - after calling, the plan is to help people in the event of them being unemployed - and again, she signed up for it voluntarily...<br /><br />I... I can barely take this country anymore.<br /><br />Our multinational giant corporations are like the scammy, scummy auto repairman who sees a victim instead of a customer.<br /><br />I shudder to think what will happen when the astroturfed Libertarian movement succeeds in even more deregulation...AmericanGoyhttps://www.blogger.com/profile/00865892490752172185noreply@blogger.comtag:blogger.com,1999:blog-9430835.post-43894305744802450882011-06-11T10:29:00.247-07:002011-06-11T10:29:00.247-07:00I think Ron Paul has the best take on all this: I...I think Ron Paul has the best take on all this: If the fed weren't able to fiddle with the money supply, average Joes wouldn't need to put their savings into complicated investments in order to "beat inflation" (i.e., protect themselves from their government).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-15999862464509594712011-06-11T09:55:14.345-07:002011-06-11T09:55:14.345-07:00This reminds me of my father, who actively managed...This reminds me of my father, who actively managed his investments into his 80s, even using primitive internet connections to track prices. <br /><br />Then he got too tired and sick, rolled most everything into Fidelity Contra and let it roll, retiring to the Barca-lounger just as the late 90s market took off. He could do no wrong at that point. I should be so lucky.Carolhttps://www.blogger.com/profile/09055468613470143350noreply@blogger.comtag:blogger.com,1999:blog-9430835.post-66848244681516072912011-06-11T07:12:25.282-07:002011-06-11T07:12:25.282-07:00Age is a social construct - v droll, Mr Anon.Age is a social construct - v droll, Mr Anon.deariemenoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-81126785305662053432011-06-11T06:21:30.952-07:002011-06-11T06:21:30.952-07:00yeah i bought gold when in 2003. I only wish i had...yeah i bought gold when in 2003. I only wish i had bought more.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-17254680307064485022011-06-11T06:21:02.911-07:002011-06-11T06:21:02.911-07:00i was talking about investing with a friend (we ar...i was talking about investing with a friend (we are mid forties) for our retirement I think you'll have to have REAL dividend producing assest - not'invesments' in the wall street sense. A chicken egg farm, or maple syrup or something like that. that is the only security against the rampant financial fraud.<br /><br />BTW that's what a lot of wall street guys are now doing... I just hope they don't turn those industries into bubbles.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-33892545020459904822011-06-11T06:09:10.521-07:002011-06-11T06:09:10.521-07:00I thought of Steve reading that Onion piece as wel...I thought of Steve reading that Onion piece as well and found it humorous. Not to say that he is racist, more that a liberal would instantly think of him that way having a discussion about race. I find the Onion is typically always worth a laugh, but its occasional spasms of bitter liberal articles make for periods of unfunny entries. I expect comedy writers to be left of center, but sometimes they use their platform to vent completely devoid of wit.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-35457432199713384952011-06-11T05:03:38.314-07:002011-06-11T05:03:38.314-07:00Craig L is too kind in his analysis.
The present ...Craig L is too kind in his analysis.<br /><br />The present dismal outlook for the U.S. (and other, similar nations with similar economies) is due to the accumulated effects of myriad socialist interferences with every-day economic affairs, one of the chiefest of which is Social Security. Such programs are simply a drawn-out Ponzi scheme which perpetuates luxuriantly because the relatively "early in" come to constitute a voting bloc not only for the program itself but for a universe of contrary-to-purpose economic interferences.<br /><br />People today are inclined to let the previous generations "off the hook," explaining "they didn't know." Though partly true--and especially for the lower class (in a cognitive sense)--they certainly should have known and there were always opponents of the program making the obvious comparison to the failed Bismarkian scheme. By and large, the regular, decent, hardworking, law-abiding, and taxpaying citizens of this country are the most obviously GUILTY and are even now the most "unionized" and "lawyered up," and "lobbied up" bloc; do you think that AARP's a fraternal organization? And do you not believe that they engage in "horse-trading" of legislative favors with a far-flung network of those seeking rents on other socialistic, economy-sapping legislation?<br /><br />And, by the way, those very same generations (to whom I belong--I'm 75) are those who voted, not only for a program which would collect from all black workers for their entire working lives but would blithely exclude them from a fair chance of benefitting--by setting the retirement age at about the average life expectancy of that group. (And they're the same folks who performed the same sort of hidden discrimination by voting in the tax deduction on interest expenses, assuring a one-sided benefit on the backs of those for whom it was far more difficult, if not impossible, to borrow substantially.<br /><br />One of the first people to retire on the new Social Security program paid a single payment about $35, and retired the following week to (eventually) get about $25,000!<br /><br />A man I knew who worked his entire life--a top-bracket contributor--and, separately, made many millions as a conservative and prudent investor, was amazed at the generosity of SS. Even when figuring compounded interest at prevailing rates, he calculated that the accumulated fund would be gone in just over 3 years--yet he lived almost 20 beyond that!<br /><br />The young need to wake up and find their way to Galt's Gulch; I just don't think they will.Gene Bermannoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-58497954123062436462011-06-11T03:03:06.735-07:002011-06-11T03:03:06.735-07:00...a 30-month certificate of deposit that paid 16....<i>...a 30-month certificate of deposit that paid 16.5% interest.</i><br /><br />Those were the days -- I can remember getting about 10% in my money market account around that time.ehnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-1481749743830096832011-06-11T00:32:47.951-07:002011-06-11T00:32:47.951-07:00My husband and I (both mid-70s) have a modest nest...My husband and I (both mid-70s) have a modest nest egg but as each certificate of deposit matures we find there is no safe place to put our money that earns more than 2 percent. The banks have it made - us, not so much.DoingOurBestnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-3421357446610879702011-06-11T00:30:54.043-07:002011-06-11T00:30:54.043-07:00I get most of my investment advice from HBD sites ...I get most of my investment advice from HBD sites such as iSteve.<br /><br />International stocks particularly boomed in the mid-naughties. I bought in before their boom thanks to my understanding that the US labor force is getting dumber. I sold out right before the crash, understanding the vulnerabilities in the market, and protecting most of my earnings. I bought back in realizing that, thanks to cheap labor policies that favored big business, there was no way the Dow was worth only 8,000 (though ultimately it was still headed down). Then we waited until very recently to buy a new home, well after the tax credit expired, understanding that it was just inflating prices and that the market was probably still headed down. My wife sweated a little over that one. I most certainly did not.<br /><br />I don't consider myself to have any great investment skills and, other than a few companies, mostly current and previous employers, I stick with mutual funds. I've certainly made a few mistakes, but understanding HBD has given me an edge and earned me more money than it's lost.Jack Aubreynoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-9115714420397013112011-06-10T23:15:50.130-07:002011-06-10T23:15:50.130-07:00Investing is very tricky. Even high flyers like Bi...Investing is very tricky. Even high flyers like Bill Gross at Pimco bought Lehman Bros. Debt at near face value, and got hosed. If Bill Gross can pull a bonehead move, what about the average investor? Heck even John Paulson is down this year, so it is very hard to consistently earn above average market returns year after year.<br /><br />But index investing runs the risk of decades of down markets: 1929-48, the 1970's, and the 2000-present come to mind. You could invest in index funds and have all the value eaten away by inflation. Gold and Silver have storage/carry costs. Commodities swing wildly and are subject to roll-over costs. Which is why their ETFs have lousy returns. <br /><br />I'd say the only safe bet is some basic asset allocation: short-term or quickly liquid assets, some longer term assets, and medium-term assets that you have done your due diligence upon based on your macro and micro environments (will the US default/inflate away? Will the Euro go bust, etc?) With frequent re-balancing/trimming the portfolio.<br /><br />And that is just beyond most people. Heck not even Bill Gross can do it consistently.Whiskeyhttps://www.blogger.com/profile/01854764809682029464noreply@blogger.comtag:blogger.com,1999:blog-9430835.post-3727600436940797712011-06-10T22:22:44.592-07:002011-06-10T22:22:44.592-07:00"I get to spend them. It's hard to see an..."I get to spend them. It's hard to see any alternative the way the economy is being handled. The upside is that I'm developing a zen-like detachment from future concerns."<br /><br />I take this attitude about investing in gold. It's way too late and if we're desperate enough to need gold for money, we'll be using all kinds of things to barter with anyway. Not to mention, you don't want to be the only person in your neighborhood who still has real money. People will shun you because they feel inferior, someone might kill you for it and the government might just confiscate it. <br /><br />I'd rather wag around a set of tarnished silverware for currency and keep my friends. ;0)gfsnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-71172581035000262162011-06-10T21:46:07.459-07:002011-06-10T21:46:07.459-07:00ok funny MSM might be willing to admit a demograph...ok funny MSM might be willing to admit a demographic has lower cognitive ability. based on age..... but .. race? oh I forgot that's a social construct.. well isn't age too?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-32732497811109707202011-06-10T21:35:37.152-07:002011-06-10T21:35:37.152-07:00What are old people with savings supposed to do no...What are old people with savings supposed to do now that safe investments yield no interest?<br /><br />Looking at retirement advice in magazines like the AARP, you see ridiculous suggestions, such as "If you're not able to put away enough savings now, consider getting a second job." Where are all those second jobs available? <br /><br />Or, "Some people may have to postpone their retirement until their 70s." Who the hell is allowed to keep his job into his 70s?<br /><br />I'm close to 60, but I'm increasingly convinced that my retirement savings are going to be nationalized or evaporate through inflation before I get to spend them. It's hard to see any alternative the way the economy is being handled. The upside is that I'm developing a zen-like detachment from future concerns.Harry Baldwinnoreply@blogger.comtag:blogger.com,1999:blog-9430835.post-84689276321544678052011-06-10T20:02:58.244-07:002011-06-10T20:02:58.244-07:00After arguing with a well-read, articulate racist ...After arguing with a well-read, articulate racist Wednesday, area man Daniel Truett described the experience as "bone-chilling," telling reporters it was far scarier than any encounter with an ignorant bigot ever could have been. "I've met some intolerant assholes in my time, but never one who could quote passages from Booker T. Washington's Up From Slavery to make his point," said Truett, who raised objections to the man's racial prejudices, but found his opponent was able to anticipate each of his arguments and counter them point by point. "And the most terrifying part of all is that he's obviously intelligent enough to know he's a hateful, bigoted person, which means he must actually be okay with that fact." Later that evening, Truett felt even more conflicted after hearing the very same bigot perform an exquisite and nuanced rendition of the Dvorak cello concerto<br />============================<br /><br />The Onion writes about one man's encounter with YOU, Steve Sailer.Anonymousnoreply@blogger.com