Thursday, December 8, 2011

Economics 101: A Night Beat Report

This Summer we got the Left's answer to the Tea Party. Not surprisingly, Occupy Wall Street was everything that they accused the Tea Party of, and much much more. If you really wanted to put a face on it, this perfectly represented OWS.

So it wasn't really a big surprise when we found out that The American Nazi Party endorsed The Occupy Movement. Funny, that never happened with the Tea Party. But then again that was the National SOCIALIST Workers Party that ran rampant across Europe in WWII, so nobody should have been surprised. Plus with OWS ignorant of all things financial in general and disavowed by Lech Walesa himself, nobody should have been surprised at the Reports of pimping, Rape, and general mayhem and destruction of private property, and public property as well. Even MLK's niece disavowed the group. So with all apologies to Shakespeare, it is appropriate that the final verdict on OWS is that it is "Full of Sound and Fury, Signifying Nothing." If you really want to know who is responsible for the financial sub prime collapse, look no farther then the Democratic Party. I suggest you check out Reckless Endangerment for more informative reading.

So, since I seemed to have graduated from the Public School system while I still had the opportunity to get an education, I thought it my duty to pass on some personal as well as corporate Economics 101. For Example, you may not know that
  • If you get an "Income Tax Refund" you did not, in fact, pay any income tax. All you did was let the government hold on to it for a year, misuse it, and return it to you without a penny of interest. That made you a doofus. Of course I learned this when you could get 3% interest on a Now Account at just about any bank. With Current Rates at 0.05% it's a toss up whether or not you're a doofus these days. You want a return? Any Return? Stocks are it. Or perhaps gold, but that seems to have a heavy entry price these days.
  • If you buy anything on time (mortgage, car loan), you do not actually own the product until you make the final payment. Until then whoever financed the purchase actually owns the product and has the right to repossess. They hold the "pink slip" or title. Of course, even with a house that is owned in full, you could still lose it when the GOVERNMENT seizes it for nonpayment of property taxes, but I'm sure the "rational" folks at OWS have no problem with that.
How about a little Business Economics, for example:
  • The purpose of a corporation, or any business, is to make money for its owners. In the accounting scheme of things, employee salaries are listed among the liabilities, not among the assets. It is a cost to them. An employee's value to the Corporation is only in relation to the part they play in the Corporations success. Truth hurts, I know, but a business does not exist to hire people. People are hired because they are needed to make the business succeed. Liberals have this backward all the time.
  • In a publicly traded corporation, the OWNER is NOT the CEO. The OWNER IS THE STOCKHOLDER. Sorry for shouting, but you've got to shout above the OWS Drivel these days. So when Chrysler or GM was bailed out but Stockholders were not compensated but Unions were enriched and empowered, the Owners, which were every American that had the stock in a mutual fund, were screwed. Again, truth hurts.
  • Of course my pet point, which I make over and over again. CORPORATIONS ARE PEOPLE. Legally they have to be. Only Individual Humans can be held liable for anything under law. Inanimate objects or animals cannot. (Case in point, if you get bit by a dog remember next time, sue the dog, not the owner, after all the dog bit you. See how that goes.) Of course, though they bluster, this will never change. If corporations lost person status you would have to prove intent to harm among the individuals of the company. A much more impossible task, and the personal injury law industry would collapse, forcing lawyers everywhere to seek honest employment, or at least a Government Job.
So, that's basically part one. I have some comments regarding a so-called "Christian" Minister's op-ed (he was an Unitarian Universalist. They believe they cannot admit one way is the only way. Hence they cannot be CHRISTIAN, since Jesus said "I AM THE WAY....NO MAN cometh to the father BUT BY ME." Kind of self explanatory why they can't be Christian if they won't agree with THE CHRIST.) I am sure I opened up a hornets nest with this one, but I couldn't be silent anymore. Until next time. I am Awaiting Your Reply.