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Passions in Poetry

The Buzz on the Zero Sum Haircut

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Local Rebel
Member Ascendant
since 12-21-1999
Posts 5742
Southern Abstentia


25 posted 11-15-2007 01:34 AM       View Profile for Local Rebel   Email Local Rebel   Edit/Delete Message      Find Poems  View IP for Local Rebel

quote:

I have to say I am enjoying this link immensely. Here we have a rebel defending the rich and their actions. Astounding reversal.



It's only a reversal if I've ever said people shouldn't get haircuts, own Harleys, or drive Cadillacs.  And it's odd -- but, I can't find myself in this thread anywhere defending 'the rich'.

quote:

Oh, you mean the money "trickles down" to the benefit of the economy from the money spent by the rich? LR, you are sounding less and less like a lefter with every word.



I don't know what the barber does with his or her money.  I don't know that he or she is even paid the money.  It may get stuck in the middle somewhere by a broker who constantly seeks to drive down the wages of the barbers.  

It is an economic reality that spent money trickles -- but that doesn't ensure that the ones on the bottom ever get more than a drop at a time or will ever realize the opportunity to find their own sourcewater.  Revenue streams are elusive that way.

Warren Buffet:
quote:

But I was particularly captured by one sentence that Buffett said last night on The Charlie Rose Show. He was explaining why he wanted to give so much money to a foundation that mainly tries to alleviate poverty. ďA market system has not worked in terms of poor people,Ē Buffett said.

Coming from Buffett, this statement isnít much of a shock. But it certainly is an indictment ó of the free-market system that has made so many people like Buffett very, very rich (though not as rich as him), of the system that so many economists and businesspeople and politicians and journalists believe in on so many dimensions, including its ability to help poor people stop being poor. Note that Buffett didnít say that the government hasnít worked for poor people (although I am guessing he wouldnít disagree with that statement either). It was the market system directly, even with Adam Smithís wonderful invisible hand, which is meant to correct, to police, occasionally to lift someone up.
http://freakonomics.blogs.nytimes.com/2006/06/27/warren-buffet-swats-the-invisible-hand/



quote:

But, more than anything, what Mr. Buffett's $31 billion gift to the foundation that Mr. Gates runs with his wife, Melinda, shows is a common disdain for inherited wealth and a shared view that the capitalist system that has enriched them so handsomely is not capable alone of addressing the root causes of poverty.

"A market system has not worked in terms of poor people," Mr. Buffett said yesterday, in an interview taped earlier in the day for "The Charlie Rose Show" on PBS.

As for any thought he might have had in giving the bulk of his billions to his three children, Mr. Buffett was characteristically blunt. "I don't believe in dynastic wealth," he said, calling those who grow up in wealthy circumstances "members of the lucky sperm club."
http://www.nytimes.com/2006/06/27/business/27friends.html



Sure, Gates, Buffet, but not Carlos Slim
http://fortunewatch.com/will-carlos-slim-follow-bill-gates-and-warren-buffet-not-a-chance/
rwood
Member Elite
since 02-29-2000
Posts 3797
Tennessee


26 posted 11-15-2007 07:06 AM       View Profile for rwood   Email rwood   Edit/Delete Message      Find Poems  View IP for rwood

ďI'm not sure how fair it is to fault someone because their percentage point is a little bigger than yours.Ē


Thatís a proper call. Everyone does waste some money or commits a splurge. It may cause personal difficulties, but as long as one is not in default of any responsibilities (such as a mortgage note) due to trivial expenditures then others arenít adversely affected.

Iím not faulting him for his haircut price. Iím just wondering how a $400 cut differs so much from a $20-$100 cut. Maybe a cut by a famous stylist with high dollar scissors, wash with expensive ingredients, scalp massage, special conditioner, color treatment, style blown to silk? I donít know. Iím just curious.

I do fault him for his inconsistency on other major issues, so his hair doesnít make me want to touch his name at the voting poll.


ďWell it certainly contributes to the barber's economy doesn't it?  And in turn -- and so on, and so on....Ē

Yeah, but as I mentioned: Iíd have to lower my principles as an independent woman to depend on a sugar daddy to help me boost the stylistís economy. Sheíd be doing well, while I sell myself out to someone thatís only interested in investing in me for One thing. That might work for some people, but Iíll just keep on working and keep on paying Suzy the Stylist what I can pay her not to run from me.

Thatís what gets me. If a man is handing over $400 for his ďcoifĒ (haha, what a word) then whatís a woman handing over these days? Women can double or triple+ menís upkeep in terms of higher maintenance, and I suppose that boosts the economy, but itís not a true figure of wealth or prosperity, when much of that is carried over each month on high interest-bearing credit card accounts.

whatís in your wallet doesnít seem to matter anymore as long as ďWhatís in YOUR WalletĒ is plastic. Does that apply to your topic of economy? I think it does, because plastic represents not only a culture but an out of control enterprise that is predatorily happy to boost anything you want them to.
Balladeer
Administrator
Member Empyrean
since 06-05-99
Posts 26302
Ft. Lauderdale, Fl USA


27 posted 11-15-2007 10:07 AM       View Profile for Balladeer   Email Balladeer   Edit/Delete Message      Find Poems   Click to visit Balladeer's Home Page   View IP for Balladeer

But, more than anything, what Mr. Buffett's $31 billion gift to the foundation that Mr. Gates runs with his wife, Melinda, shows is a common disdain for inherited wealth and a shared view that the capitalist system that has enriched them so handsomely is not capable alone of addressing the root causes of poverty.


As I said before, why not put Gates and Buffett on stage to speak instead of, or along with, Edwards? Would the Democrats be willing to do that? Of course not, if for nothing more than Warren's disdain for inherited wealth, which would make people like Kennedy and Kerry insignificant. Yes, people like Gates, Buffet and Walton believe that one should earn his wealth, pay his dollar and put his neck on the line for the chance to succeed. Is there something wrong with that? Success by hard work does not seem to be embraced by Democrats for some reason. One only needs to look at the attacks on Gates and especially Wal-Mart, the largest private employer in the country. For some reason these people needs to be characterized in the worst light possible by Democrat leaders,even while typing on their Microsoft-based computer and sending their maids to Wal-Mart.

If I remember right, the bulk of the Gates foundation deals with world poverty and discovering a cure for aids, among other things.

No, capitalism alone cannot address all of the concerns or roots of poverty. Which system can, or ever has? Do we trash it then...or do we do what Gates  and Buffett do, take their own money that our system has allowed them to accumulate and do their own part to help the system....in other words, put their money where their mouth is? Sounds pretty reasonable to me. Seen Edwards, Kerry,  Kennedy, Bill and Hillary, Pelosi, Reid, Boxer do that? Put Bush's charitable donations against Edwards'. Put Bush's energy-saving home devices against Gore's. See what you come up with.

No system will ever be able to address all of the concerns of the poor but, if you bother to look around the world, I think our system comes a lot closer that anyone else's.
 
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