Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
That's understandable. True socialism is better than what we have today. Objectivism + Capitalizing Profits + Sociailizing Losses. The problem with Socialism is allegedly the lack of motivation to innovate. Capitalism would fix that except, "greed is good" messes things up.
@VintageFreak Just curious...have you ever lived/worked/known anyone who lived in a socialist country, i.e., Soviet Union, Eastern Europe, etc.?
That's understandable. True socialism is better than what we have today. Objectivism + Capitalizing Profits + Sociailizing Losses. The problem with Socialism is allegedly the lack of motivation to innovate. Capitalism would fix that except, "greed is good" messes things up.
In reality, the USA does not have Capitalism. It has socialized capitalism. The government has laws on how businesses must operate. And in reality, the way socialism has been implemented in the past it is a dictatorship. Of the two realities the current system in the USA is better. However, I do believe that it would not be a hard sell in the USA to implement a socialistic/dictator state. All it would take is another 1930s style depression or one milder. People today could never handle a 1930s style depression where they could not afford the internet.
@DanHardy with a dash of cronyism thrown in the mix. It upsets me when people equate small business with big business. Seems like small business has no voice in our government.
“Capitalism is the extraordinary belief that the nastiest of men for the nastiest of motives will somehow work for the benefit of all.” attributed to John Maynard Keynes
I do not interpret this as a definition, rather it is what can go wrong with capitalism. There are good companies, Costco and Trader Joe’s come to mind, implying that not all capitalist men are nasty. The following link explains the origins of the quote:
Indeed, Costco and Trader Joes are good companies. And there are plenty of other large and small companies that can be so rated.
Our society loves ratings and rankings. We do so for all sorts of things. The ratings are likely reflected in our buying decisions. Sometimes we seek guidance in this task and there are professional outfits that satisfy that need.
Fortune rates and ranks international companies and their executives each year. The Fortune effort breaks their ratings along many dimensions like best companies based on size, based on diversity, and for women employees. The criteria are adjusted for each grouping.
Here is a Link to another rating agency that is fully dedicated to identifying good companies across many dimensions:
Not too surprisingly, the outfit is called “Good Companies”. By clicking on “Ratings” you gain access to various scoring categories and to their scoring methodology. They slice the universe into many categories.
Final scores are summarized by an A+ to F grade. The grades integrate the Fortune ratings as part of their scoring procedure. The scoring includes diversity, customer satisfaction, good environment steward, tax dodging, and CEO pay scale elements to inform a final rating.
I have scanned their results. Some were expected, but others were surprises. AIG did not do well. Ford was awarded a much higher score than General Motors. Wal-Mart was a number 1 on the Fortune system, but only given a D on the Good Companies system. The criteria matter greatly.
Regardless of excellent weather conditions, I don’t play tennis daily. At my age, physical recovery time is a limiting factor.
Local forecasters have no difficulty predicting tomorrow’s weather in the LA beach districts. They likely sport a 98% accuracy record. Given our stable conditions, that’s not especially difficult. I can do the same.
Tomorrow will be cloudy in the early morning followed by sunshine in the late morning. In fact, that will be the same forecast next week, next month, and next year. The weather folks real challenge is to add some uncertainty and excitement into their forecasts.
I’m sure that’s not necessary in the Pittsburg area. Change happens fast and faster. In the early 1950s I spent a month there one long dreary weekend. I was preparing for a job interview the next morning. This was at a time when the Blue Laws severely restricted doing much of anything on a Sunday. Even finding an eating place was a challenge.
I rejected the job offer. As a writer you must have a special, ironclad commitment to the area. The option is yours given your profession. Good for you, and good for the city.
@LewisBraham - I also live in Southern California. Last Sunday we returned from a trip to Big Sur and Carmel. It was raining!
What I like about LA is that a 2 hour drive can take you to the beach, snow in mountains, desert, etc. So we take one week vacations to experience places like Yosemite and Big Sur. As the old saying goes: “Difference of opinion is what makes horse racing” (and investing, and choice of residence, etc.).
@Passive Aggressive: "In the early 1950s I spent a month there one long dreary weekend. I was preparing for a job interview the next morning. This was at a time when the Blue Laws severely restricted doing much of anything on a Sunday. Even finding an eating place was a challenge. I rejected the job offer. As a writer you must have a special, ironclad commitment to the area." To insult where a man lives is mean-spirited indeed. But of course you didn't intend to do that. You're always innocent, open-minded and fair and balanced like the news.
@LewisBraham Yeah, I got that impression, as well. I love Pittsburgh...but it must be difficult for yinz not to overeat...so many great ethnic restaurants there! (My grandma was from Pittsburgh...she always referred to my sister and me as "yinz" ;)...miss that! )
@hank as a former SE Michigander myself, I think you'd agree that Detroit could take some lessons from Pittsburgh as to how to diversify an economy and revitalize a city.
To compare a city in the 1950's to the present day is irrelevant anyway. I'm sure LA, San Diego, etc., were also much different than they are today. I wouldn't know for sure, though....I was a toddler back then
Agree. Just for some perspective, we lived well north of Eight-Mile. Talk about two different worlds. Startling contrast between the city and many suburbs to the north.
Can't comment much on the present, being long gone. Obviously things are worse. ---
We all recall the Baltimore situation some time back. I saw a lot of similarities in the way the two cities evolved - especially the flight to the suburbs.
We should proceed with caution. Some folks will start talking.
I am somewhat flabbergasted that my 1950s visit to Pittsburg story violated your sensibilities. The story was meant to be funny and has been included in vaudeville comedy acts since the early 1900s. Here is a Link that presents a brief history:
The Quote Investigator credits an early 1908 version of the joke to W.C. Fields. The reference also provides this graveyard joke with no mean intentions: “Here lies W.C. Fields: I would rather be living in Philadelphia.”
I have no evil agenda when repeating these ancient city jokes. If Pittsburg, Philadelphia, or Los Angeles are the subject of these jokes it matters not at all.
I harbor no ill feelings for any city. Every city offers something to their residents. As a first order approximation, the number of folks currently living in any city is about the contented number. Otherwise, they are always free to move.
My submittal was not meant to be offensive or to be hurtful; it was simply meant to be funny. My last visit to your city was in the 1950s, and Blue Laws constrained Sunday activities. I have no idea if Blue Laws are still in effect. Regardless, I respect all cities that follow the mandates of their state and their population. I also respect the loyalty that residents demonstrate for their city of choice. Sorry if I hurt your feelings.
You misread me at times. I sometimes post with a minority perspective and a definite purpose. I am not "always innocent, open-minded and fair and balanced". I do not claim to be so. Opposing viewpoints should be welcomed on this forum without animosity.
@MJG, You insulted my home while boasting of your own. Leave it at that. Aside from the blatant snobbery or perhaps a complete lack of class consciousness if your version of things is to be believed, how does the fact that a comedian told one sentence of your quite personal and specific insult as a joke over a hundred years ago justify your behavior? Suppose you'd told a racist joke or an ethnic slur against me instead. Would you then rationalize it and say: "You see, W. C. Fields told the same joke as part of a vaudeville routine in 1908. Therefore it's OK." Humor depends on context and timing. Your insult lacked any sense of both. You went to Pittsburgh over 60 years ago and feel entitled to assess its merits from your home in Southern California today. Good for you.
Your opening assertion aside, regrettably your upset continues. You say: “You insulted my home while boasting of your own. Leave it at that.”
But you failed to “leave it at that”. Your railings continued by ignoring my explanations and substituting distortions and exaggerations that completely misrepresent my position. Some folks might interpret your reactions as constructing a Straw Man scenario by referring to ethnic jokes or racial slurs. These are false, exaggerated comparisons. That’s a loser’s game, just like name calling is. I see you abandoned the name calling tactic.
I never criticized either your home, your city, or your state. I certainly never boasted of my home, city, or state by simply telling an accurate 60 year old visit to Pittsburg story. That story centered on how the Blue Laws existing at that time dampened my experiences in your fine city. I’m sure those Laws have substantially changed for the good since that bygone era. I made no comparisons and made no judgments.
I don’t boast about my current residence. It offers many positive qualities, but it also suffers from some meaningful shortcomings. For instance, the recent CALPERs announcement that they are planning to change their investment returns projections downward will translate into higher taxes in the future. With some practical constraints, we get to freely choose where we live for an endless variety of reasons.
I have been very lucky. My engineering specialty occupation is such that I have enjoyed a limited opportunity to choose employment locations. I have lived and worked in New Jersey, in New York, in Maryland, and in several spots within California. All had much to offer. Of all these, San Diego is probably my favorite for a complex set of reasons; yet I do not denigrate the others. I do not denigrate Pittsburg.
You ascribe much deeper meanings and motivations to my posts then I intend. I am not Machiavellian. I write what I mean, and first reactions to what I write are likely the most trustworthy. That’s easy to understand if you give it a fair chance.
You seem to not like my writing style. That’s too bad. But I rate MFO submittals on their substance, and not on the author’s style. Substance over style everyday in everyway.
@MJG: "As a writer you must have a special, ironclad commitment to the area." The implication being that no one would willingly move to a "dreary" place like Pittsburgh if they had the choice. Blurp, blurp, blurp--help! I'm drowning in your verbose rationalizations.
@little5bee - I was born in Birmingham, U.K. and moved here when I was 6 months old. I have no recollection of anything of that time. Not sure what you were trying to ask, but if you are trying to call me socialist, people have called me worse
@DanHardy - "socialized capitalism". If you somehow mix some part of fascism in that, we could actually have a good real definition of "objectivism", no?
@VintageFreak Hey, I thought you forgot about me! My grandparents were Polish immigrants, but I still have family over there. They suffered greatly under that system, so I just took two comments a bit personally..."True Socialism is better than what we have today"...and..."The problem with Socialism is allegedly the lack of motivation to innovate." I think Socialism basically kills motivation, period. True, our system has its flaws, but even so, I prefer it to any alternative.
And I don't believe for a second that people have called you worse...you are always good-natured, even when you disagree
Comments
I do not interpret this as a definition, rather it is what can go wrong with capitalism. There are good companies, Costco and Trader Joe’s come to mind, implying that not all capitalist men are nasty. The following link explains the origins of the quote:
Capitalism
Indeed, Costco and Trader Joes are good companies. And there are plenty of other large and small companies that can be so rated.
Our society loves ratings and rankings. We do so for all sorts of things. The ratings are likely reflected in our buying decisions. Sometimes we seek guidance in this task and there are professional outfits that satisfy that need.
Fortune rates and ranks international companies and their executives each year. The Fortune effort breaks their ratings along many dimensions like best companies based on size, based on diversity, and for women employees. The criteria are adjusted for each grouping.
Here is a Link to another rating agency that is fully dedicated to identifying good companies across many dimensions:
http://www.goodcompanyindex.com/
Not too surprisingly, the outfit is called “Good Companies”. By clicking on “Ratings” you gain access to various scoring categories and to their scoring methodology. They slice the universe into many categories.
Final scores are summarized by an A+ to F grade. The grades integrate the Fortune ratings as part of their scoring procedure. The scoring includes diversity, customer satisfaction, good environment steward, tax dodging, and CEO pay scale elements to inform a final rating.
I have scanned their results. Some were expected, but others were surprises. AIG did not do well. Ford was awarded a much higher score than General Motors. Wal-Mart was a number 1 on the Fortune system, but only given a D on the Good Companies system. The criteria matter greatly.
Please visit their listings. Enjoy.
Best Wishes.
Thank you for reading my post.
Regardless of excellent weather conditions, I don’t play tennis daily. At my age, physical recovery time is a limiting factor.
Local forecasters have no difficulty predicting tomorrow’s weather in the LA beach districts. They likely sport a 98% accuracy record. Given our stable conditions, that’s not especially difficult. I can do the same.
Tomorrow will be cloudy in the early morning followed by sunshine in the late morning. In fact, that will be the same forecast next week, next month, and next year. The weather folks real challenge is to add some uncertainty and excitement into their forecasts.
I’m sure that’s not necessary in the Pittsburg area. Change happens fast and faster. In the early 1950s I spent a month there one long dreary weekend. I was preparing for a job interview the next morning. This was at a time when the Blue Laws severely restricted doing much of anything on a Sunday. Even finding an eating place was a challenge.
I rejected the job offer. As a writer you must have a special, ironclad commitment to the area. The option is yours given your profession. Good for you, and good for the city.
Best Wishes.
nextpittsburgh.com/business-tech-news/economist-names-pittsburgh-livable-city/
You can't even do a put down without being long winded. Remember: Longueurs are the soul of wit.
No put down was intended. I attempted a little humor. Apparently I failed. Your closing statement makes no sense to me.
Best Wishes
What I like about LA is that a 2 hour drive can take you to the beach, snow in mountains, desert, etc. So we take one week vacations to experience places like Yosemite and Big Sur. As the old saying goes: “Difference of opinion is what makes horse racing” (and investing, and choice of residence, etc.).
Back in the late 70s I called-in to the Jerry Williams radio talk show (WBZ Bosten) late one night (a rarity as I normally don't call-in anywhere).
After a long wait, Jerry picked up the phone.
"I live just outside Detroit" I began ...
"Everybody has to live somewhere" was the terse reply.
---
Oh Pittsburgh! Been there (on a college trip 45 years ago). Can still taste that Iron City beer.
Kinda stays with ya.
To compare a city in the 1950's to the present day is irrelevant anyway. I'm sure LA, San Diego, etc., were also much different than they are today. I wouldn't know for sure, though....I was a toddler back then
Agree. Just for some perspective, we lived well north of Eight-Mile. Talk about two different worlds. Startling contrast between the city and many suburbs to the north.
Can't comment much on the present, being long gone. Obviously things are worse.
---
We all recall the Baltimore situation some time back. I saw a lot of similarities in the way the two cities evolved - especially the flight to the suburbs.
We should proceed with caution. Some folks will start talking.
I am somewhat flabbergasted that my 1950s visit to Pittsburg story violated your sensibilities. The story was meant to be funny and has been included in vaudeville comedy acts since the early 1900s. Here is a Link that presents a brief history:
http://quoteinvestigator.com/2011/12/26/week-in-philly/
The Quote Investigator credits an early 1908 version of the joke to W.C. Fields. The reference also provides this graveyard joke with no mean intentions: “Here lies W.C. Fields: I would rather be living in Philadelphia.”
I have no evil agenda when repeating these ancient city jokes. If Pittsburg, Philadelphia, or Los Angeles are the subject of these jokes it matters not at all.
I harbor no ill feelings for any city. Every city offers something to their residents. As a first order approximation, the number of folks currently living in any city is about the contented number. Otherwise, they are always free to move.
My submittal was not meant to be offensive or to be hurtful; it was simply meant to be funny. My last visit to your city was in the 1950s, and Blue Laws constrained Sunday activities. I have no idea if Blue Laws are still in effect. Regardless, I respect all cities that follow the mandates of their state and their population. I also respect the loyalty that residents demonstrate for their city of choice. Sorry if I hurt your feelings.
You misread me at times. I sometimes post with a minority perspective and a definite purpose. I am not "always innocent, open-minded and fair and balanced". I do not claim to be so. Opposing viewpoints should be welcomed on this forum without animosity.
Best Wishes.
Your opening assertion aside, regrettably your upset continues. You say: “You insulted my home while boasting of your own. Leave it at that.”
But you failed to “leave it at that”. Your railings continued by ignoring my explanations and substituting distortions and exaggerations that completely misrepresent my position. Some folks might interpret your reactions as constructing a Straw Man scenario by referring to ethnic jokes or racial slurs. These are false, exaggerated comparisons. That’s a loser’s game, just like name calling is. I see you abandoned the name calling tactic.
I never criticized either your home, your city, or your state. I certainly never boasted of my home, city, or state by simply telling an accurate 60 year old visit to Pittsburg story. That story centered on how the Blue Laws existing at that time dampened my experiences in your fine city. I’m sure those Laws have substantially changed for the good since that bygone era. I made no comparisons and made no judgments.
I don’t boast about my current residence. It offers many positive qualities, but it also suffers from some meaningful shortcomings. For instance, the recent CALPERs announcement that they are planning to change their investment returns projections downward will translate into higher taxes in the future. With some practical constraints, we get to freely choose where we live for an endless variety of reasons.
I have been very lucky. My engineering specialty occupation is such that I have enjoyed a limited opportunity to choose employment locations. I have lived and worked in New Jersey, in New York, in Maryland, and in several spots within California. All had much to offer. Of all these, San Diego is probably my favorite for a complex set of reasons; yet I do not denigrate the others. I do not denigrate Pittsburg.
You ascribe much deeper meanings and motivations to my posts then I intend. I am not Machiavellian. I write what I mean, and first reactions to what I write are likely the most trustworthy. That’s easy to understand if you give it a fair chance.
You seem to not like my writing style. That’s too bad. But I rate MFO submittals on their substance, and not on the author’s style. Substance over style everyday in everyway.
Best Wishes (and I really mean that).
@DanHardy - "socialized capitalism". If you somehow mix some part of fascism in that, we could actually have a good real definition of "objectivism", no?
And I don't believe for a second that people have called you worse...you are always good-natured, even when you disagree
For sure, that's definitely one of the major problems with socialism.