Financial collapse Part Deux

[Kim]

Generally, as far as I understand, if you want to run your company well, and not into the ground, you'll want competent employees. The competition among the middle and lower classes for those jobs gives incentive, or at least is supposed to, to do the job as well as you can, ensuring that you will get paid more than others and keep your job. However, I have seen way too many people who think, "They don't pay me well enough for the work I do, I don't see why I should do my best." People like to think their work and time is worth more than it is, and will also look for any excuse to slack off. The reason these people make less or get fired is usually due to the fact not everyone thinks this way, and there are people who will do their best regardless of whether they think they are being payed well enough for whatever job.

[Zilla]

According to my education on economics (AP Micro Econ, Econ-Challenge teaching me AP Macro Econ, team placed 2nd in Minnesota Econ Challenge, and Minnesota does very well on the national level), trickle-down economics do not work. That comic sums it up. Tax breaks to the rich do not work. They may help rejuvenate the yachting industry or the housekeeping industries, but that's money that never makes it down the economy, it stays with the rich.

Also, I knew I should have jumped on that DOW plummet. Another economic principle I learned about investing; do the opposite of what the market is doing. Right now is the best time to buy houses, if you can afford it, because the market is so cheap. Once the market recovers and people are buying houses again, that's the time to sell.

[Solid Snake]

Dammit the Senate's going to vote on this bailout bill tomorrow, and no significant changes have been made to the bill, and then on Thursday they're just going to beat the crap out of the House until the House is forced into agreeing with this bullcrud.

Please do us all a favor. If you know who your local Representatives are, please, by any and all means, send them a message. Write them a letter. Write them an e-mail. Give them a phone call. And tell your Representatives to vote against this piece of trash.

[Lord Setheris]

Originally Posted by Solid Snake

...Did you...type all of that in the wrong topic? Because I was reading your article just waiting for anything whatsoever that had a strong correlation to the "financial bailout" and I, umm, didn't see anything.
Unless there's a correlation between evolution and credit liquidity that I just totally missed way back in high school...

Lord Setheris posts where he chooses.

The bill is back. Improved. In the senate.

[Jagos]

Seth, just a warning...

You might not wanna provoke the forums gods that are Krylo, Fifth, and any other mod that would take that as a challenge.

It's totally George Bush's fault.

I read that... An obscure post in the Administration when all roads lead back to Fannie and Freddie... All I'm saying, though Spitzer is the mayor of NY, he has a limited view. Fannie and Freddie could say "If you can afford the teaser rate, you can afford the whole loan"

With no money down...

With no real supply of income...

Yeah, I'm going with this.

Didn't McCain himself mention something to the effect of Fannie and Freddie possibly failing sometime back in 2005?

I have a link in the other thread, discussing that. My other link in this post also details why Fannie and Freddie were full of fail a long time ago.

As an aside, how do you expect them to regulate industries where practically everyone is in together on screwing people, such as the entire health care industry or the auto insurance industry? History has proven, in our country alone nonetheless, time and time again you cannot trust the interests of the lower classes in the hands of the rich.

All I'm saying, don't make it mandatory... That would REALLY kill both industries. Having the Big G in the mix for safety concerns can make us safer. It helps if they regulate certain medicines (insulin) but I don't see how auto insurance should be regulated.

Also, Dow's up almost 300 points. I really don't think we're anywhere near a recession, much less a depression. But, could someone answer a question for me? Say another version of the bailout bill passes. The money would either have to be printed or borrowed from the treasury. This would do what to our taxes and the inflation rate?

We still grow by 2.9% in GDP every year. No we aren't hitting a recession. Basically, our taxes would increase to cover these expenses. but the money would be used to keep the DOW from doing the free falling that it's prone to do. Thank you Socialism... -_-;

Edit: This is to say, the poor can be easily screwed by the simple act of getting fired, where it takes a LOT of poor people being fired to really start to dent a company, assuming no new hires are coming in to replace them.

That's big business. When we're discussing some of the smaller businesses, some of the government inequities such as F&F's securities can hit them hard. Especially when they can't get loans to pay their payroll...

Also, I knew I should have jumped on that DOW plummet. Another economic principle I learned about investing; do the opposite of what the market is doing. Right now is the best time to buy houses, if you can afford it, because the market is so cheap. Once the market recovers and people are buying houses again, that's the time to sell.

Heh, Warren Buffet at his finest. Though he messed up with AIG when he insured the securities backed subprime market from default. *facepalms*

[Odjn]

Originally Posted by Noncontradictory

Generally, as far as I understand, if you want to run your company well, and not into the ground, you'll want competent employees. The competition among the middle and lower classes for those jobs gives incentive, or at least is supposed to, to do the job as well as you can, ensuring that you will get paid more than others and keep your job. However, I have seen way too many people who think, "They don't pay me well enough for the work I do, I don't see why I should do my best." People like to think their work and time is worth more than it is, and will also look for any excuse to slack off. The reason these people make less or get fired is usually due to the fact not everyone thinks this way, and there are people who will do their best regardless of whether they think they are being payed well enough for whatever job.

Except working 100% isn't in the best interest of you most of the time because promotion to management through competence is rare in many low class jobs. I work in a hotel. If I work really hard I can make 15-20 in kickbacks from a certain cab company per cab ride and 25 for signing people up for Mariott Rewards. However, getting people everything they need gets me nothing. The current supervisors are 1) the one who does work hard and 2) the general manager's friend who goes on myspace twice as often as the other and uses her cell phone at the front desk. I don't get raises towards good work (or technically, ever). I don't get bonuses for pleasing customers. If I design something like a pamphlet for visiting convention people to help them understand what we do and don't do, I get like 20 bucks.

I have no incentive to work 100% because it gets me nothing. We keep track of comment cards, but I have the most because I ask my guests who like me to write them. Working hard does not benefit me at all. It's far better for me to mooch and LOOK like I'm doing work when I'm actually not working that hard, and sneaking over to the bar so the bartenders teach me how to make drinks (my next career jump in process).

I get paid $10 an hour. After taxes this is 8.5 an hour. After the seven bucks I spend on gas every day this is 7.63~ an hour. I'm not compensated for distance. Most of my money comes from commissions, which I focus on. The job does not offer raises, advancement, or bonuses aside from commissions, which are from the hotel chain and not our franchise owner (who employs us) or an independent transportation company.

In conclusion, you need your job to be worthwhile and rewarding for additional effort to get your workers at 100% every day. This is why our industrial stuff was so productive- it was so lucrative to work there people worked harder for bonuses and such. Right now, I'm going to mooch like fuck because I need money, and that's why I have a job. And if I can do my job with minimal effort and still reap maximum rewards, I will.

[Mirai Gen]

Originally Posted by Solid Snake

Dammit the Senate's going to vote on this bailout bill tomorrow, and no significant changes have been made to the bill, and then on Thursday they're just going to beat the crap out of the House until the House is forced into agreeing with this bullcrud.

Please do us all a favor. If you know who your local Representatives are, please, by any and all means, send them a message. Write them a letter. Write them an e-mail. Give them a phone call. And tell your Representatives to vote against this piece of trash.

I'm planning on it. You know a website where I could get a hold of my representative? I'm not terribly hip with politics but this is a moment where I feel the need to spend an action point.

[Lord Setheris]

I think this picture sums up my feelings on the matter.

[Kim]

So, am I the only one who attaches a moral value to his work and the money earned from it? That boggles me. Seriously.

[Krylo]

Dear Lord Setheris,

Please stop being stupid all over the damn place.

Hugs and Kisses,
Krylo.


P.S. I just realized I don't really have to ask. I can just ban you and stop you from being stupid. So I did that. For two weeks.