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Thursday, November 14, 2019

The new climate for business

Is one where business is rapidly shrinking. Best Buy's CEO takes a very converged position on corporate profits:
"The purpose of a company is not to make money," says Best Buy CEO Hubert Joly, discussing the need for a re-foundation of capitalism. Purposeful leadership is being clear about your purpose as an individual and how it connects to the purpose of the company where you work.
If you can't see the danger in where this is headed, then you really aren't paying attention. What is the purpose of the company where you work if it isn't to make money?  How long do you anticipate working there without making money yourself? And if the purpose isn't to make money, then why do so many companies nevertheless insist on charging money for their goods and services?

Capitalism doesn't need to be refounded, it is something to which we should return. The modern day financialized corpocracy which funnels most profits to the financial institutions, the government, and the pirate class is simply not capitalism by any measure.

By the way, there is a whole conference devoted to business convergence. Look at the pictures on the linked Twitter account. There is literally zero productive business being discussed there.

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151 Comments:

Blogger Shane Bradman November 14, 2019 7:19 AM  

If big corporations want to pretend that their goal isn't profit they are welcome to operate like a charity and see how long they last. The death of big corporations would be to the benefit of all of society except the leeches and grabblers.

Blogger The Cooler November 14, 2019 7:28 AM  

Joly doesn't believe a thing he's saying, he's marketing to The Elusive They.

Purposeful leadership is being clear about your purpose as an individual and how it connects to the purpose of the company where you work

See? Word vomit for blinks and nods. Public face/private face.

Blogger Silent Draco November 14, 2019 7:32 AM  

Time to help him fulfill that idea. Buy from a competitor or another source, so he's not worried about making money.

Get woke, go broke.
Get fired by the BoD for missing the quarterlies.

Blogger BastionHarm November 14, 2019 7:35 AM  

Joly doesn't believe this. He's just giving his low-paid, expendable serfs a motivational talk for them to feel good about themselves, trying to get them to think that, while they're selling cheap consumer crap in the coming weeks, they're accomplishing some "higher purpose" or something. Like everything else in this empire of lies, it's all bullshit.

Blogger David The Good November 14, 2019 7:48 AM  

At least the Robber Barons had some economic sense...

Blogger Wild Ape November 14, 2019 7:51 AM  

Best Buy execs fancy themselves to be usurpers to God swapping the Ten Commandments for a code of conduct and Eden for their wage slave sweatshop. I don't think I'll have anything to do with their self inflicted Hell.

Blogger bodenlose Schweinerei November 14, 2019 7:55 AM  

What is the purpose of the company where you work if it isn't to make money?

To increase your happiness as an employee, obviously.

Sure, they're slashing your pay and benefits while jacking up your hours, but if you can, say, play a little air hockey during the legally mandated breaks they haven't yet found a way to get rid of, it's fine, right?

Blogger basementhomebrewer November 14, 2019 7:58 AM  

Investment banks need to be burnt to the ground. The traditional response is that the share holders should oust CEOs who speak like this. The problem is that the majority share holders aren't average people. They are investment banks who have 0 risk due to government bailouts. They are now pushing their political agendas by installing CEOs like this at the top of all the major corporations and when the inevitable happens money will be printed for them.

Blogger bodenlose Schweinerei November 14, 2019 8:00 AM  

By the way sumthin', here's how much Mr. Joly is into not making money:

https://www1.salary.com/Hubert-Joly-Salary-Bonus-Stock-Options-for-BEST-BUY-CO-INC.html

Blogger dienw November 14, 2019 8:01 AM  

"The purpose of a company is not to make money..."
Matches:
The purpose of a job is not to make money...
Star Trek

Blogger pdwalker November 14, 2019 8:02 AM  

It's almost like there is some kind of cancer in the corporations or something...

Blogger peacefulposter November 14, 2019 8:02 AM  

The modern day financialized corpocracy which funnels most profits to the financial institutions, the government, and the pirate class is simply not capitalism by any measure.

Not capitalism but (((capitalism))).

Blogger Stilicho November 14, 2019 8:03 AM  

There goes Amazon's showroom. This CEO is likely saying it to provide an excuse for his own failure to make money for shareholders.

Social justice is the last refuge of the incompetent.

Blogger CarpeOro November 14, 2019 8:03 AM  

Got to hand it to him though, he is certainly walking the talk. Best Buy certainly isn't profitable.

Blogger MJ Meyers November 14, 2019 8:06 AM  

Years ago, I took an elective law school class called Corporations. We were discussing, from a social wellness perspective, whether Corporations should be allowed to have a mission outside of making profit for shareholders (suing corporations and their board members for violating duties to shareholders was a central aspect of the class). I and one other student were the only ones that argued they shouldn't. I guess ideas like free speech etc. were key to conservative support, and social good (donations to charity etc.) were arguments from the liberal perspective, all key to this notion the law should allow corporations (mainly by common law, i.e. conditions to sue) to have missions beyond profit.

If I buy stock in a corporation and some moron gets on the board or in management and decides making money is no longer what they're about (dumb enough to publicly state it), and subsequently the value of the company tanks, that dude's golden parachute and/or any assets should by ripe for our pilfering as shareholders once we get our summary judgment in court. The law is way more nuanced than that, of course, but many lawyers (those who don't have skin in an outcome) want to expand that nuance to protect corporate SJWism (which includes conservatives sadly!).

I hope your book causes that tide in thinking to change! God speed Vox!

Blogger Letstryagain November 14, 2019 8:08 AM  

BastianHarm wrote:
"Joly doesn't believe this."

Doesn't it follow from Vox's recent book that it doesn't matter if he believes it or not?

Blogger Nicodemus November 14, 2019 8:10 AM  

They are trying to transition us. The reasons are many, they mostly have to deal with population and automation. The technological revolution makes the population boom of the industrial revolution a liability to those who push convergence. Why do you think they had that clown Andrew Yang doing a "Beta test" for UBI aka "freedom dividend"? The question about Mr. Yang is rhetorical.

Blogger Lovekraft November 14, 2019 8:13 AM  

No surprise that the Obama-mainstreamed Grievance Shakedown Rackets that were forced onto companies would be thorough, up to and including muzzling anyone who tries to expose them

Blogger dc.sunsets November 14, 2019 8:16 AM  

Business, like government, is best done on a scale where owners, managers, employees and customers all can see each other in person on a relatively routine basis.

Distance begets anonymity, which begets drift, and drift begets corruption of mind, body and spirit.

Today's corporate managers couldn't give a fig for a shareholder. And who IS the shareholder? Fidelity, Black Rock, Goldman-Sachs, or some other faceless corporation. The individual "investor" is at least three, if not thirteen degrees separated from ownership of the common stock.

Corporations, like national and state political systems, are like elephants in the field, while shareholders and citizens are like blades of grass that make up the field. Corporate managers, like politicians and high-level bureaucrats, have literally zero need to care about any single blade of grass, and so they learn to stomp around, battle each other, and do just about whatever the hell they wish, in complete disregard for the grass in the field.

There is no human organization more soulless, more prone to demonic actions, than a corporation whose business and stock ownership is scattered across the globe via innumerable proxy-owner public corporations. They represent wealth without responsibility, which inevitably becomes madness writ large.

Blogger Sillon November 14, 2019 8:17 AM  

@12

Not capitalism but (((capitalism))).

(((Finantialism))) A practice known to the ancients as: (((USURY)))

Blogger furor kek tonicus ( 9 of 10 Geneticists agree that Ann Coulter is my sister from another Mister. don't deny the IFLScience! ) November 14, 2019 8:24 AM  

"The purpose of a company is not to make money," says Best Buy CEO Hubert Joly


this has been literally true for quite some time in the West.

because, to the C*O class, the purpose of a company is to provide Golden Parachutes regardless of performance.

Blogger Arthur Isaac November 14, 2019 8:25 AM  

We went into a Best Buy about two weeks ago. My wife and I split up to look for an item we weren't finding. After 20 minutes and about 6 floor staff who weren't busy with customers ignoring us we finally got the attention of one reluctant salesman who wore a face like he'd drawn the short straw or lost a bet by talking to us. We found out they didn't have the item and walked out of the store without anything and no further comment from the staff.

If that store isn't dying I'd be shocked.

Blogger Sillon November 14, 2019 8:27 AM  

@17

The technological revolution makes the population boom of the industrial revolution a liability to those who push convergence.

The robots are already here, they come from China, India, Mexico and most other 3rd world countries.

Do not get too excited with the advanced SF stuff, it is not that much required except for high-end engineering assembly operations.

@19

There is no human organization more soulless, more prone to demonic actions, than a corporation whose business and stock ownership is scattered across the globe via innumerable proxy-owner public corporations. They represent wealth without responsibility, which inevitably becomes madness writ large.

This is why corporations were legally granted "people" status.

In the end most of those corporations can be traced to a handful of individuals and many more (((individuals)))

Blogger dc.sunsets November 14, 2019 8:29 AM  

If I buy stock in a corporation and some moron gets on the board or in management and decides making money is no longer what they're about (dumb enough to publicly state it), and subsequently the value of the company tanks, that dude's golden parachute and/or any assets should by ripe for our pilfering as shareholders once we get our summary judgment in court. The law is way more nuanced than that, of course, but many lawyers (those who don't have skin in an outcome) want to expand that nuance to protect corporate SJWism (which includes conservatives sadly!).

Your premise is entirely false. Share price has almost nothing at all to do with the profitability of the business or how well-run is the corporation (from a profit-centered perspective.) Share price is the sum of a complex system of inputs, almost all of them a result of pure herding cognition, i.e., irrational on its face, more akin to the level of waves on a shoreline than to measured attributes like profitability.

Corporate managers today feel free to pursue all kinds of actions unrelated to their core business because money has lost all connection to anything real. US and world economic systems long ago transcended the limits of real relationships and moved en mass into a Matrix of mass-minded "reality" where shared beliefs and nothing more are all that is required to almost literally move mountains.

"The Law" itself now is predicated on the ability of words, placed on paper and the proper blessings (signatures) affixed, can and do alter reality. Homosexuals can be "married." Men can be women, and women can be men. Agglomerations of people can be a single person, if the right documents are written, signed and notarized.

If you vote in an election, and some moron "wins" (and 99% of the time, the scum rises to the top in a democratic election) then what that moron does can either stuff others' value into your pocket, your value gets taken from you and stuffed in others' pockets, or (the normal way) everyone gets robbed, everyone gets some value stuffed in their pockets (but productive people get skinned) and its the bureaucrats and middle-men who laugh all the way to their buddies at the bank, who are always the biggest winners when money is funny.

We already live in Idiocracy, and it's not the least bit funny.

Blogger Rowan November 14, 2019 8:30 AM  

The three Best Buy’s nearest me have all closed. The closest just held a huge sale, 50% off of all remaining inventory. The high dollar appliances and tech had been shipped elsewhere by then. It was a dud sale.

The local mall is closing too, all of the stores there are moving out or closing completely, and the property owners aren’t doing anything to maintain or transition the site into anything.

There are several bright, shiny, one-million square foot Amazon, etc. eyesore warehouses on the rural highway though. Progress! at any and all costs.

Blogger Gregory the Great November 14, 2019 8:33 AM  

Soon MS13 will be last non-converged business in the US. Where can one apply?

Blogger dc.sunsets November 14, 2019 8:36 AM  

@23 I concur, the modern corporation is what the man behind the curtain shows the boobs in the audience, so that the boobs keep sweating it out in Pharaoh's stone quarries to build what Pharaoh directs.

We are being farmed.
Our ancestors were farmed.
Our children will be farmed.

I sincerely doubt this will ever change. Human social organization is fertile soil for con artists, and the most skilled of these have always succeeded in obtaining the consent of their marks.

At least under monarchy the common man knew where was the line between the ruler and those ruled. Under our system now, where every woman fancies herself queen, there is no limit to how much blood the parasites can suck from us.

Blogger Johnny November 14, 2019 8:38 AM  

Businesses buy services and market products. If the products they market are worth less than the services they buy, then they are a net loser for society and they should fail. And of course they are value added if it is the other way around.

I knew a committed Christian who started a run for profit enterprise. He didn't want his friends to think he was going all selfish, and so he would explain that he wasn't and would remain his old generous self. A little over a year later he had lost what was for him more than a normal year's income. After that we didn't have to hear about how he wasn't going to get all selfish.

Now as for generosity, the thing is, the profit has to come first or the generosity never happens. And unfortunately, with some frequency the generosity displayed is a cover for for some seriously self serving stuff that is contrary to the public interest. Pretty common among the more wealthy. Contrive things to your self interest and then engage in a little token generosity for cover.

Blogger Cataline Sergius November 14, 2019 8:39 AM  

All the cool kids want to work for non-profits these days.

Blogger dc.sunsets November 14, 2019 8:42 AM  

Last note: There is a limit to how much blood parasites can suck from us, but the last 40 years of debt-fueled insanity was analogous to keeping the patient on life-support while the parasites bled the body essentially dry, even as the heart monitor still beeped once a second.

The worldwide mania for living on IOUs is a one-off, unsustainable sprint by the Pirate Class whose "tragedy of the commons" behavior favored short-term gain at the cost of killing the geese that lay the golden eggs. When it ends, the world will change dramatically from what we think it is now to something entirely different. Not if, when, but I'd have thought the denouement would have arrived already, so what do I know?

Blogger Rowan November 14, 2019 8:48 AM  

I’m watching The Dark Crystal prequel on Netflix. It’s remarkably faithful to the design and image of the original film, and it’s not distorting canon either, which is refreshing. Very little retcon in the story. We know how it will end, but the story of how it all collapsed is a good one.

You mentioned we’re being farmed, DC. I agree, I’ve felt this way for a long time. The Skeksis are doing precisely that to the Gelfling. Allowing them to live and breed, granting some of them power and wealth, and sucking the life essence out of the so Skeksis can be immortal. It’s a parallel of our current situation. Like the affable Gelfling, most won’t open their eyes to it.

Well, it’s Netflix so I’m sure that SJWs see themselves as righteous and Trump supporters as Skeksis. So be it. There’s a character with two “fathers” but it’s not a belabored point (yet. It’s only ten episodes so far).

In any case, predatory vampires are ruling us. Will it come down to just a handful left, before anyone decides to fight? Jesus had twelve, so I have some hope.

Blogger Bishop November 14, 2019 8:49 AM  

At least one of the "big 4" consultants has a scheme in place which allows execs to spend a significant portion of their at work time on charity work, and this is encouraged as part of their corporate responsibility. Especially higher profile women. Great way to use the large fees they charge their clients to enable SJWs to be SJWs.

Blogger Steve Samson November 14, 2019 8:49 AM  

Business, like government, is best done on a scale where owners, managers, employees and customers all can see each other in person on a relatively routine basis.

I'm blissfully somewhere like this now. HR is one lady who's basically the CEO's PA.

Beforr that I spent a long time in Big Retail and its exactly as described, the entire company structure was based around stopping you doing your job (stuff on shelves, priced, neat and tidy) and making you do a lot hole host of nonsense training and busy-work. They had just started the cutting pay and benefits stuff when I left. Only inertia keeps those Big Retailers going, and when they collapse it's sudden.

Blogger Calvin809 November 14, 2019 8:51 AM  

The last time I set foot in a Best Buy was about five years ago when Amazon sent me the wrong graphics card twice. Maybe Best Buy should get into the used car business.

Blogger thalios November 14, 2019 8:57 AM  

Stilicho wrote:There goes Amazon's showroom.

HA HA HA! This is so very true.

Blogger Xellos November 14, 2019 8:57 AM  

MJ Meyers wrote:If I buy stock in a corporation and some moron gets on the board or in management and decides making money is no longer what they're about (dumb enough to publicly state it), and subsequently the value of the company tanks, that dude's golden parachute and/or any assets should by ripe for our pilfering as shareholders once we get our summary judgment in court.

As a shareholder, what you should do is get him fired on sell the shares ASAP. If you don't do that, too fucking bad. Better yet, don't invest into converged companies (play stupid games, ...).

Blogger Johnny November 14, 2019 9:15 AM  

People don't like capitalism because it is too honest. It openly admits that people are motivated by selfish goals. A little small scale generosity on the side helps, but doesn't really fix things. Kind of like the feast days some kings would sponsor, often associated with a religion. Be generous for a few days of the year in part to give cover for all those other days.

Blogger McJibblits November 14, 2019 9:17 AM  

They aim to transition into the government. It's the simple play for more power. Google and Facebook are arguably more powerful than first world countries. Corporations are making a play for dropping the mask altogether and replacing the government.

Blogger widlast washere November 14, 2019 9:23 AM  

It's becoming apparent that the modern business world is run by retards and the delusional. At least where I work, corporate is VERY FOCUSED on profit. It's sorta why we show up to work.

Blogger JamesB.BKK November 14, 2019 9:29 AM  

Making money is the clearest signal that one is providing something valued by others. Wondering if this CEO of a listed firm was a hard retard when given the job or grew in office.

Blogger tuberman November 14, 2019 9:29 AM  

Yes, the parasite economy is based on tax theft through numerous means, then money laundering, or moving money to all it's players. The bankers (FED, plus others), financial companies, the DS government, the IRS, unions, and Chamber of Commerce run these scams. Pushing their blessings to all that they "own," and those who cooperate fully.

None of this is real capitalism.

Blogger JamesB.BKK November 14, 2019 9:33 AM  

It openly admits that non productive people don't get paid. That's why all the complaints and demands for govt to transfer at gunpoint funds to the non and law productive. Productivity worthy of large payments is among the highest services one can provide to others to satisfy their needs irrespective of the motivation.

Blogger tuberman November 14, 2019 9:40 AM  

Gregory the Great wrote:Soon MS13 will be last non-converged business in the US. Where can one apply?

Black Pilling, lots of black pilling in comments, the above is one obvious example.

No, we are on the cusp of many non-converged companies being created. They just won't be the large internationals, and most will be under everyone's radar. In fact, they exist already, and "Corporate Cancer" will help them stay that way.

Blogger JamesB.BKK November 14, 2019 9:42 AM  

Surprisingly the stock price is doing ok nominally. Looking at the share counts we can see sharp annual declines, indicative of c-suite financial engineering.

https://www.macrotrends.net/stocks/charts/BBY/best-buy/shares-outstanding

Looking at the debt, we can see big increases of long debt and corresponding erosion of shareholder equity. It looks like this dude is strip mining the balance sheet while mouthing platitudes.

https://www.macrotrends.net/stocks/charts/BBY/best-buy/debt-equity-ratio

Blogger The Cooler November 14, 2019 9:48 AM  

we can see big increases of long debt and corresponding erosion of shareholder equity. It looks like this dude is strip mining the balance sheet while mouthing platitudes.

100% This.

As an interesting aside, and IIRC, over half of the profits Best Buy reports are from the sale of ... *drumroll* ... extended warranties. This is obviously unsustainable.

Blogger Azure Amaranthine November 14, 2019 9:52 AM  

"Business, like government, is best done on a scale where owners, managers, employees and customers all can see each other in person on a relatively routine basis."

Thought a lot about that too. Unfortunately it can't continue to be that simple. There is a hard and low limit on the ability of persons to interact with increasing numbers of other people, which would dictate a relatively small maximum size of any entity organized with this level of interaction as necessary.

Larger entities will out-compete smaller ones unless the cohesion of the smaller entities is great enough to allow them to pierce and break the larger entities. Even apart from direct conflict, this happens because larger entities can have a greater ability to smooth the effects of sudden changes, and can thrive in harsher environs, much like larger-bodied mammals in the far north able to stand the cold because of their increased volume to surface area ratios.

We end up back at high and low trust peoples. Direct view and interaction is only one means of continuing trust or creating skin in the game conditions. It is very effective, but there are others that can do well enough if you have trustworthy and trusting enough people using them.

Higher trust peoples will be able to create larger cooperative entities while maintaining high cohesion. At the same time there is a minimum cooperative limit below which they have no advantage over lower trust peoples. If a people has high enough trust that they can operate in high cohesion above the scales of direct contact, it is a losing strategy to confine themselves to direct contact, seeing as they likely have gained that trust-ability at the cost of other capacities.

Where we're going though, even being in direct contact with people probably won't be enough due to our adulteration with low trust peoples....

Blogger swiftfoxmark2 November 14, 2019 9:55 AM  

Stilicho wrote:There goes Amazon's showroom. This CEO is likely saying it to provide an excuse for his own failure to make money for shareholders.

Social justice is the last refuge of the incompetent.


Exactly what I was thinking.

Blogger CynicalMan November 14, 2019 9:56 AM  

This is a CEO who needs to be removed by the board. And if the board doesn't get it done then the entire board by the shareholders.

Blogger James Dixon November 14, 2019 10:04 AM  

> Time to help him fulfill that idea. Buy from a competitor or another source...

https://www.newegg.com

Not as good as they used to be, but still a lot better than Best Buy.

> The traditional response is that the share holders should oust CEOs who speak like this.

Actually, it would never get that far. The board would immediately fire him. But it turns out he's no longer the CEO of Best Buy. He's now the "executive chairman". A role they apparently created especially for him.

> Best Buy certainly isn't profitable.

They've been profitable for a while now. The made $0.89/share last quarter, per Google.

> Share price is the sum of a complex system of inputs, almost all of them a result of pure herding cognition, i.e., irrational on its face, more akin to the level of waves on a shoreline than to measured attributes like profitability.

In the short term, you are correct. The long term is a somewhat different matter, but there are still a lot of variable at play.

Blogger wreckage November 14, 2019 10:06 AM  

The thing about a giant milking scheme based on illusion, as with any Hermetic magic, or consensual reality like the world of finance, is that it can simply and instantly stop working. Everything has been done before, and, the important part is: it has all, also, shaken back out before. It's just a matter of surviving the shake-out, and frankly I am 100% confident of that.

Anything we do to either anticipate or speed the adjustment is going to make it less violent for all involved. The situation has a clarity to it.

Blogger swiftfoxmark2 November 14, 2019 10:24 AM  

If CEOs and other C-level executives were paid based on commission, I doubt any of this nonsense would be said, let alone practiced.

Blogger RandyB November 14, 2019 10:30 AM  

Also, he's seen the sales projections for Christmas 2019, and he's engaging in preemptive CYA.

Blogger tuberman November 14, 2019 10:43 AM  

32. Bishop

These "charities" are entirely fake, and involved in all kinds of illegal activities. Charities like these are the tip of the spear for evil in the world.

Blogger JonM November 14, 2019 10:54 AM  

Randy: Hollywood move. "It's not my fault we're broke. We would have turned a profit this quarter if the customers weren't such massive cisheterobigots!"

Blogger BxBomber November 14, 2019 10:55 AM  

We are badly positioned defending "CAPITALISM" as a symbol. Capitalism includes the parasite bankers, godless/soulless multinational conglomerates and higher ed institutions. When socialists attack the evils of "Capitalism" they gain traction with the young who see how "Capitalists" have exploited them and their parents all these years in countless ways.

Why defend Chase, Google, Merck, Disney? Stop calling the system we live in Capitalism when it is no such thing.


Words and what they convey are important. Dont defend Capitalism. Dont even use the term in current context. Instead, make your stand on nuturing and defending FREE ENTERPRISE. The ability for an individual to develop his interest into expertise and work with other free individuals to create products and services that improve lives. Free people, free markets.

Blogger Damelon Brinn November 14, 2019 10:58 AM  

I'd avoid Best Buy, but their store here already closed a year or so ago. It's some kind of VA clinic now.

Blogger spinoza November 14, 2019 11:07 AM  

A corp. called the Federal reserve is printing 180B a day so he's kind of right it wont be profitable to have profit in any company if this continues. Like other giants in the entertainment industry, BB is there to support atrophy of it's consumers, anything else is only consequential from this purpose. Why would anything other than pure faith lead someone to want to aspire or conspire to own dollars when interest rates near negative?

55. BxBomber Thanks. Capitalism is not legal in America but fascism is and people who don't know how to socialize are angry about this.

Blogger JonM November 14, 2019 11:11 AM  

I would argue that the CEO is right that people and companies should not put profits first, but that thier primary purpose is to bring glory to God.

The real problem here is that most companies have chose to bring glory to the false gods of wokeness and secular humanism rather than the one true Christian God.

The wages of sin are death, even for corporations.

Blogger Johnny November 14, 2019 11:16 AM  

Assuming Best Buy is profitable, they are retaining profitability by closing the least profitable stores. Slow but steady shrinkage in numbers from a peak in 2014. 2019 the worst year yet. From 1514 worldwide to 1238. And the year isn't over yet. Retailers of this sort usually fail in time. No doubt a causality of internet sales.

I was in a Sears store, and what seemed to be a better informed than usual employee thought the company was unlikely to last. Built in inefficiencies and slow to adjust. The parking lot out in front of the store was often all but empty.

Blogger Johnny November 14, 2019 11:23 AM  

> Share price is the sum of a complex system of inputs, almost all of them a result of pure herding cognition, i.e., irrational on its face, more akin to the level of waves on a shoreline than to measured attributes like profitability.

If you believe this and you want to put your money down, you will be a momentum investor. A less flattering way of saying is to call it greater fool investing. You buy the stock regardless of value, and hope there is a bigger fool than you who will pay you more money for it. Works in the short run if you are a superior market timer, something that is easier to imagine than accomplish. And with only rare exception, is a bad approach for any long term investment.

Blogger xevious2030 November 14, 2019 11:27 AM  

This comment has been removed by the author.

Blogger xevious2030 November 14, 2019 11:28 AM  

“If big corporations want to pretend that their goal isn't profit”

Entirely understandable, but it is seeing the leaf and not the tree. We’re dealing with Princes and Principalities working for the same king, with the Beast system, however far away it is, being the persistent goal across time. California is not the demonstration of failure, under Rules for Radicals, it is a roaring success.

Profit, as the reason, works under similar assumption of Libertarians and private ownership. It’s pretty, but it is utopia. It goes in a category similar to magic dirt and is as devout to reality as paper Americans to America. It’s never “just business.” It is a societal fabric, woven of a multitude of threads, spun together from various individual fibers.

Joly is dispensing with the pleasantries, uncloaking to fire, as it were. If they’re (the Left) in near unison (speaking within a long term timeframe, big tech, big social, big sports, Swamp, whatever) doing this, so commonly and openly, it is because they consider themselves in a position to do this without the vulnerability of economy being the deciding factor.

Blogger Uindo November 14, 2019 11:28 AM  

@BxBomber
''Dont even use the term in current context. Instead, make your stand on nuturing and defending FREE ENTERPRISE''

You are correct that 'muh capitalism' is a nonstarter idea but I believe you miss the point by replacing it with 'free enterprise'. Both fail in the face of extreme low trust (it fails in anarchic Africa, for example) and both thrive in high trust. Some other poster alluded to it but you would get a free enterprise society faster by advocating Jesus Christ and the expulsion of pagans and blasphemers than trying to educate the populace as to new social engineering #6. (Ie get rid of (((bad actors))))

Blogger The Cooler November 14, 2019 11:29 AM  

Sears filed Chapter 11 on October 15, 2018 and has been without a CEO for the last 13 months, AFAIK.

Sears sued former CEO Eddie Lampert and others for the theft of billions. I have no idea how that panned-out, I don't particularly care or follow Lifestyles of the Rich and Grabbler; but no, Sears not only won't last, it cannot.

Blogger Jack Amok November 14, 2019 11:39 AM  

There goes Amazon's showroom.

Speaking of that, wasn't Best Buy the outfit that got caught a while back running an in-store wifi that routed to a fake version of their own website so that their real website could show a low price on something to lure customers in and then, when they saw the higher in-store price and went to the internet to double-check, the fake site showed the higher price.

Blogger Johnny November 14, 2019 11:43 AM  

>>Sears sued former CEO Eddie Lampert and others for the theft of billions...

I don't know about theft, but it is wildly obvious that top management is overpaid in this country. And then if the company fails, the golden parachute, millions in severance pay. Probably up to hundred of millions by now for some of the really big companies.

Blogger VFM Bear November 14, 2019 11:44 AM  

Well, one of the reason HR and other useless departments with useless people came to exist in the first placce is because of affirmative action/employment equity laws that can affect surprisingly small companies in some jurisdictions.

The HR department largely exists as it does today because you have to have x number of wahmen and you needed somewhere to put them because there aren't enough that can do actual work and if you make them all secretaries you get hit with a discrimination lawsuit.

If you get rid of the HR department but still have to have the x number of wahmen, what do you do with them?

Blogger Gen. Kong November 14, 2019 11:45 AM  

What is the purpose of the company where you work if it isn't to make money?

To increase your happiness as an employee, obviously.

I would put it as "enhancing customer and employee experience" as those running the racket loot the assets and prepare their golden parachutes. Kind of like a Wall-Street re-write of Jonestown. Comments 2 and 4 called out Joly's bullshit. If Mr. Joly actually believes what he's preaching, he should simply forgo his salary and all other forms of compensation.

Part of the problem here is the term "Capitalism" itself has become equated with free enterprise. The term was originally used as the flim to socialism's flam. The reality is that both of these were essentially looting/strip-mining rackets for healers and their native traitor-class step-n-fetchits. The Capitalism vs. Socialism flim-flam is being re-vamped into an improved version. The only thing missing was a smiley-face praise-song for Moloch at the end.

Blogger RandyB November 14, 2019 11:46 AM  

"And their dog!"

Blogger Warunicorn November 14, 2019 11:48 AM  

"The purpose of a company is not to make money," says Best Buy CEO Hubert Joly, discussing the need for a re-foundation of capitalism. Purposeful leadership is being clear about your purpose as an individual and how it connects to the purpose of the company where you work.

The mental retardation in this one paragraph, it is strong.

Blogger Mr Smith November 14, 2019 11:49 AM  

I don't want socialism or capitalism. I'd rather go to the ideas of G.K. Chesterton and Hilaire Belloc.

Blogger xevious2030 November 14, 2019 12:00 PM  

"The Capitalism vs. Socialism flim-flam is being re-vamped into an improved version. The only thing missing was a smiley-face praise-song for Moloch at the end."

Yep.

Blogger Ominous Cowherd November 14, 2019 12:04 PM  

Johnny wrote:Now as for generosity, the thing is, the profit has to come first or the generosity never happens.

This is sort of a version of Sayes Law, isn't it? Production enables demand, production enables donations.

Blogger J Van Stry November 14, 2019 12:12 PM  

This is simply the CEO planning his exit strategy. Roll Left and Die.
He can tell everyone that he was a good lefty and it wasn't his fault the company failed. Hence getting him his next gig.

Blogger peacefulposter November 14, 2019 12:12 PM  

This does not negate the theme of this post in any way, which is that convergence is cancer, but profits aren't everything either. The CEO and Chairman of my old company used tell the shareholders at the annual meeting that his priorities were in the following order:

1. Customers
2. Employees
3. Shareholders

The guy had balls. It was the best company I ever worked for.

Blogger dienw November 14, 2019 12:19 PM  

If you get rid of the HR department but still have to have the x number of wahmen, what do you do with them?
In retail: customer service, returns, women's clothes, bedding, cashiers, and jewelry.

Blogger xevious2030 November 14, 2019 12:25 PM  

"We end up back at high and low trust peoples."

Exactly.

Blogger Longtime Lurker November 14, 2019 12:27 PM  

Yeah, don't tax us. We don't make any money. That's some other corporation named Best Buy.

Blogger James Dixon November 14, 2019 12:28 PM  

> 1. Customers
2. Employees
3. Shareholders

You have to have the first two, or the third never gets any money.

Blogger Johnny November 14, 2019 12:41 PM  

If I remember correctly, the word capitalism became a word, so to speak, around the time of Karol Marx.It referred to noticing that large companies had a lot of capital. The more common word now would be wealth.

The word is a misnomer, because non capitalist systems accumulate capital also. It goes with any mass production system. Better terminology would be to call it a market economy. Prices are set by supply and demand, and both consumers and producers are free to leave the market if they wish.

A side requirement for a market economy is the private ownership of property. Lacking that, the government will own the means of production and with essential certainty, monopolize the production. You get to buy only from them.

Early on socialism meant government ownership of the means of production. The new more modified system is crony capitalism. The government covertly picks the winners and losers on the production side with its elaborate rules, while private ownership usually remains secure. And and along the way a lot of money goes into lobbying Congress, our current system.

Blogger Arthur Isaac November 14, 2019 12:43 PM  

Mr. Smith, Chesterton and Belloc began exploring "distributionism".

Blogger peacefulposter November 14, 2019 12:45 PM  

You have to have the first two, or the third never gets any money

True, James. The first two will get you the money in the long run.

Blogger spinoza November 14, 2019 12:52 PM  

Hey Johnny go get your gun, how old are you?

Blogger maniacprovost November 14, 2019 12:54 PM  

Instead, make your stand on nuturing and defending FREE ENTERPRISE.

"Free markets" is shorter but perhaps less to the point.

"Free" does not have an agreed-upon definition. We here mean freedom from unethical behavior by other humans, but not freedom from the laws of nature. "Freedom" is great rhetoric because everyone wants their personal definition of freedom, regardless of how twisted.

Enterprise... markets... trade... none of those really capture the essence of economic self determination.

The purpose of a business is to create some specific kind of value. The customers want that value and the shareholders want that quantity of value, so trade takes place.

It's like double entry bookkeeping. The same for profit business serves two equal and opposite purposes depending on which side you look at.

Blogger Jack Amok November 14, 2019 12:59 PM  

This is sort of a version of Sayes Law, isn't it? Production enables demand, production enables donations.

Leftists have a hard time understanding production at a visceral level. I really mean it - their brains don't have a certain circuit that's necessary to conceptualize production. That's why Leftists are the way they are, they think there's only so much stuff in the world so how it gets distributed is all that matters.

The better sort of Leftists let that mind-set lead them to "share everything." The worst sort are grabblers because of it. All of them are destructive to the productivity they don't understand.

Blogger Ominous Cowherd November 14, 2019 12:59 PM  

Uindo wrote:You are correct that 'muh capitalism' is a nonstarter idea but I believe you miss the point by replacing it with 'free enterprise'.

I think he's hit upon an important point: everyone knows our current system is called capitalism, everyone knows our current system isn't working for us. Let's don't keep using a damaged brand.

When people say ``capitalism'' in an approving tone, they are usually thinking of a system in which individuals are free to operate a business and free to keep what they produce, in which government will not be used to pick winners and losers. That's not our current system.

Free enterprise captures what people who like capitalism like, without immediately alienating the people who have noticed that our current system sucks for us.

Blogger Sheila4g November 14, 2019 1:18 PM  

@7 bodenlose Schweinerei: "Sure, they're slashing your pay and benefits while jacking up your hours, but if you can, say, play a little air hockey during the legally mandated breaks they haven't yet found a way to get rid of, it's fine, right?"

This. It's why I can only tolerate going to my husband's employer's Christmas party every few years or so. The company owner puts in an appearance, but he's had minimal hands-on experience for years now - his entire focus has been on his personal third-world charity. The other top bosses - even the one who my husband used to see as a good guy - will give their standard speech about how we're all a "family," even though the company has grown enormously and bought various other entities and spent all its cash on expanding what it bought and redoing the main office and buying an utterly useless new software system. But the handful of employees who earn all the $ that funds everything else (like my husband)? They've cut all incentives and bonuses and set new annual financial targets. The last thing I want to hear about is how we're part of a family where the head takes all the cash and we get pats on the head as good little slaves.

Of course, therein lies the problem. Any other company wouldn't necessarily pay more, and would require a move to a much higher cost-of-living area, so in many ways they have us over a barrel and know it. All my husband's customers assume he makes at least double what he actually does, given the company's business and income, and it infuriates me to know his pay is perhaps 10% of the annual profit - yes, specifically profit - he earns for the company each year.

Blogger BxBomber November 14, 2019 1:18 PM  

Free enterprise captures what people who like capitalism like, without immediately alienating the people who have noticed that our current system sucks for us.

86. Ominus Cowherd... Exactly!! Thanks for making my point more clearly than I did!

Blogger Newscaper312 November 14, 2019 1:21 PM  

I suppose its productive if you're a "sustainability consultant".
But in real world terms, hah!

Blogger Newscaper312 November 14, 2019 1:24 PM  

@76
Better looking ones can be in the corporate "comfort" division.

Blogger spinoza November 14, 2019 1:25 PM  

yeah put the word free before anything any youve got a bonafied libertarian revolution. Pornography is entertainment and the falsely legalized distinction that it exists for some other purpose has caused its subsequent existential acceptance. Similarly, because capitalism has been legally severed from its source, freedom, it has also become rather perverted.

Blogger Newscaper312 November 14, 2019 1:29 PM  

@45 re half profits from extended warranties.

Where have I heard something like that before? Oh, yes, Sears and its store credit card.

Blogger Oswald November 14, 2019 2:53 PM  

As said on this blog many times before the pendulum swings both ways. The problem is there is more than one pendulum. Even while the left is being rolled up in some places, they are still making inroads in other areas. And these people are often disguised well in organizations. Nations to have had this problem. In World War II, one reason for the defeat of Germany that is rarely brought up was the small number of Germans that were working against the cause to stop Hitler. Their efforts definitely had an effect and was a contributing factor to their defeat.

Blogger Ominous Cowherd November 14, 2019 3:39 PM  

@88, I have been thinking along these lines for a while. Much gaslighting is enabled by the fact ``everyone knows'' that our current system is Capitalism. ``Everyone knows'' that Communism and Capitalism are opposites.

Therefore, once one notices that our current system sucks, the remedy is obvious: communism FTW!

For the same major and minor premises that ``everyone knows,'' once one notices that communism sucks, the remedy is obvious: moar capitalism FTW!

A pox on both systems, regardless of name.

Blogger TheMaleRei November 14, 2019 3:42 PM  

I remember being "encouraged" to sell as many Sears credit cards as I could during my time there. Not good at all...

Blogger Barbarossa November 14, 2019 4:01 PM  

@94 I've come to the point in my life that when I hear terms such as "everyone knows", "experts agree" or "the science is settled" I immediately suspect that "no one knows", "the experts are con men" and "absolutely nothing has been settled."

Blogger glueballs November 14, 2019 4:12 PM  

Problem with the periodic model is the apex is suspended at a finite point where the oscillations only register as friction and (((they))) can always pour more lubricant to sate friction. That's where you need to attack, (((the apex))), problem being everything below crashes if you are successful. We don't wish to go there, yet we must. Strap on your cowhide chaps because you are in for one heckuva ride in my view at VD's age GenX cohort.

Blogger Azure Amaranthine November 14, 2019 4:28 PM  

"Therefore, once one notices that our current system sucks, the remedy is obvious: communism FTW!"

The best lie is almost entirely true.

Better than the best lie are two opposed lies each with different elements of truth.

Blogger Johnny November 14, 2019 4:30 PM  

@96 >>or "the science is settled" I immediately suspect that "no one knows...

Or often just plain evoking the word science. And then there is always the word "democratic" or "republic" in the name of a country.

If it can be done, he most effective trickery is assuming something is true without ever stating it. If it doesn't come up, people don't pause to thing about it.

Blogger furor kek tonicus ( 9 of 10 Geneticists agree that Ann Coulter is my sister from another Mister. don't deny the IFLScience! ) November 14, 2019 4:42 PM  

55. BxBomber November 14, 2019 10:55 AM
Words and what they convey are important. Dont defend Capitalism.



words and what they convey are important. don't repeat the lie that the United Socialist States of America are "Capitalist".

Capitalism is the acquirement and deployment of Wealth for productive activity.

https://www.dictionary.com/browse/capitalism?s=t

EVERYTHING in modern America, including our Monetary ( both Fractionated as well as Fiat, it is doubly Abstracted. that is, Imaginary. squared. ) and financial systems are based on acquiring and deploying Debt.

this is a Debtist society, and serves only the Usurers who would make Debt Slaves of us all.

Blogger spinoza November 14, 2019 4:45 PM  

Azure Amaranthine wrote:"Therefore, once one notices that our current system sucks, the remedy is obvious: communism FTW!"

The best lie is almost entirely true.

Better than the best lie are two opposed lies each with different elements of truth.


How can something be better than the best? Do you find yourself funny?
God damn I hate sarcasm like this.

Blogger Ominous Cowherd November 14, 2019 5:13 PM  

furor kek tonicus ( 9 of 10 Geneticists agree that Ann Coulter is my sister from another Mister. don't deny the IFLScience! ) wrote:words and what they convey are important. don't repeat the lie that the United Socialist States of America are "Capitalist".

Too late, mein furor. It's something that everyone knows.

Blogger VFM #7634 November 14, 2019 5:14 PM  

The problem isn't the capitalism, it's the usury.

Blogger spinoza November 14, 2019 5:26 PM  

Yes and ALSO the problem is that there are no problems with that particular issue where it is held to a higher importance in other languAGES

"So Why Is It Forbidden?
Looking at things this way, the question is turned around: If there is nothing inherently evil about interest, why then does the Torah forbid the practice between Jews?

True, there are many instances in which reckless interest rates can destroy an entire family. But the Torah could simply set guidelines establishing when interest may not be charged, and fix reasonable rates for instances when interest is fair play. Indeed, when it comes to the sale of merchandise, the Torah forbids exorbitant profit margins on staple products.2 Why not do the same here? Why forbid interest altogether?

Both Ramban (Rabbi Moshe ben Nachman, 13th century) and Rabbi Don Yitzchak Abarbanel (15th century) agree3 that as long as rates are reasonable,4 there isn’t necessarily anything morally wrong with ribit.

They explain that the reason Torah prohibits ribit between Jews is simply because your fellow Jew is family. It’s just not appropriate for family members to help each other out on terms of interest. The Jewish nation is meant to behave as a cohesive unit, like a single organism, each one concerned for the other’s benefit as much as with his own.

On the other hand, neither is it practical to treat the entire world as your immediate family—especially when they do not have the same laws as you. If you did, you would quickly find yourself out of resources.

So, although we accept the Torah’s ban on charging our fellow Jews interest, it would not be wise or helpful to extend this to all people. The Torah thereby renders us somewhat like a healthy organism swimming among many others in a big pond, which seeks its own balanced ecology."
-CHABAD LUBAVITCH

Blogger Azimus November 14, 2019 5:32 PM  

That little nugget you quoted reminded me of good ol' Jordy.

Blogger spinoza November 14, 2019 5:40 PM  

By the chabad's logic every country with negative interest rates is belong to us.

Blogger xevious2030 November 14, 2019 5:50 PM  

"How can something be better than the best"

AA didn't say a better lie than the best lie. It was a situation of lies. A monopolar lie, in which any alternative leads away, and a bipolar set of lies whereby the rejection of one leads to a particular other. When captivation is key, to keep in the matrix. The illusion of freedom and choice.

Blogger Newscaper312 November 14, 2019 6:00 PM  

@104

IOW like a friggin leech.

"So, although we accept the Torah’s ban on charging our fellow Jews interest, it would not be wise or helpful to extend this to all people. The Torah thereby renders us somewhat like a healthy organism swimming among many others in a big pond, which seeks its own balanced ecology.""

Blogger spinoza November 14, 2019 6:26 PM  

xevious2030 wrote:"How can something be better than the best"

AA didn't say a better lie than the best lie. It was a situation of lies. A monopolar lie, in which any alternative leads away, and a bipolar set of lies whereby the rejection of one leads to a particular other. When captivation is key, to keep in the matrix. The illusion of freedom and choice.

you cant don't see freedom or choices only their consequences hence it's not an illusion you seek to describe but someone's mind.

Blogger OldFan November 14, 2019 6:50 PM  

Be aware that the term 'Capitalism' was coined primarily by Karl Marx as his synonym for Satan. Its current meaning is quite fluid indeed. it can be applied to the inbred govt-industry relationships found here in the USA or the largely unregulated world of international corporations (including NGOs).

What we are currently faced with is the heretical notion that economic power must be bridled along with political power or the individual is going to be crushed (oddly enough this is close to Marx's indivisibility of wealth and power idea, but hey, even a stopped clock is right twice a day). Just as curbing gov't power is heresy for Democrats, curbing economic power is equally heretical for Republicans!

And as always, the real question is how we would do either of these things

Blogger CM November 14, 2019 6:55 PM  

"So, although we accept the Torah’s ban on charging our fellow Jews interest, it would not be wise or helpful to extend this to all people. The Torah thereby renders us somewhat like a healthy organism swimming among many others in a big pond, which seeks its own balanced ecology.""

Not necessarily a leech so much as a practice we should adopt. Encouraging no-interest loans between church members (with pastoral enforcement/discipline) builds cohesive communities. Charge interest on loans outside the church.

Blogger Ominous Cowherd November 14, 2019 6:59 PM  

Most Americans have the notion that Capitalism is something about entrepreneurs operating freely to everyone's benefit, and also that Capitalism is our current system. These are mutually contradictory notions. The Left always find it useful to confuse meanings.

Most Americans are thinking of something very like Distributism when they praise Capitalism.

Blogger Ominous Cowherd November 14, 2019 7:00 PM  

CM wrote:Encouraging no-interest loans between church members (with pastoral enforcement/discipline) builds cohesive communities. Charge interest on loans outside the church.

This isn't a bad idea, but one consequence will be more Rice Christians: people who are there for the benefits.

Blogger Azure Amaranthine November 14, 2019 7:07 PM  

"How can something be better than the best? Do you find yourself funny?"

Singular vice plural. Don't be an idiot. Never heard that two heads are better than one? Well, not if one of them is yours.

Blogger spinoza November 14, 2019 7:22 PM  

Azure Amaranthine wrote:"How can something be better than the best? Do you find yourself funny?"

Singular vice plural. Don't be an idiot. Never heard that two heads are better than one? Well, not if one of them is yours.
OT Never let it rest until good is better and better is best. When it comes to lies, you can go to hell/

Blogger Azure Amaranthine November 14, 2019 7:23 PM  

"hence it's not an illusion you seek to describe but someone's mind."

No. It's adjacent steps in longer term efficacy of deceptive strategy.

Don't try to get sophistic. Lurking moar is advisable.

Blogger Azure Amaranthine November 14, 2019 7:24 PM  

"When it comes to lies, you can go to hell"

You're an idiot no longer worth replying to.

Blogger spinoza November 14, 2019 7:24 PM  

your well come

Blogger Azure Amaranthine November 14, 2019 7:31 PM  

"one consequence will be more Rice Christians: people who are there for the benefits."

Tie it to family structure? Why does the pastor even need to be involved?

Blogger Azure Amaranthine November 14, 2019 7:37 PM  

Best for excess to be split. Part to realistic emergency cushions, the rest straight back "into the ground" of family members and local infrastructure. If you can't use it optimally figure out who you trust that can.

Loans aren't nearly as commonly necessary as the debt-addicted behavior would project. That's what savings are for when you don't have a high time preference debt system inflating them rapidly out of your pocket.

Blogger Ominous Cowherd November 14, 2019 7:38 PM  

@119, if there are financial benefits to appearing Christian, people will fake it. In the China missions, they called the fakers Rice Christians: they showed up for the rice handouts.

Blogger Azure Amaranthine November 14, 2019 7:55 PM  

I know that. I'm trying to figure out how that perverse incentive could be routed around.

Blogger The Lab Manager November 14, 2019 8:29 PM  

"You're not authentic unless you're TOTALLY authentic." — @BethBrooke_EY

But, let's remember, it has to be safe for people to be able to truly live their authentic selves. Learn more about the Partnership for Global LGBTI Equality (PGLE) here. #BSR19


I had to laugh at this twat. Be yourself unless you are a white heterosexual conservative/pro gun male, right? Then you don't matter. The whole Twatter feed is globo-homo crap.

Blogger Ominous Cowherd November 14, 2019 8:31 PM  

@122, close personal relationships are the only way to route around the perverse incentives. Really, it boils down to it needs to cost more to be a Christian than to not.

I completely agree that loans are too often a trap, rarely necessary.

Blogger xevious2030 November 14, 2019 8:47 PM  

“hence it's not an illusion you seek to describe but someone's mind”

No, a situation.

Blogger CM November 14, 2019 8:49 PM  

"one consequence will be more Rice Christians: people who are there for the benefits."

Tie it to family structure? Why does the pastor even need to be involved?


Well, in a family structure, the patriarch would enforce it.

The pastor/elders is/are supposed to carry the authority of the body of believers, so you can enforce the teachings without airing dirty laundry to members who do not need to know.

If you follow the resolution of conflict as laid out in scripture, he isn't disciplining in the dark. There will be witnesses involved.

As to Rice Christians, I agree you should make it more costly to be a Christian (at least a participating member of the church). Watering down the faith opens it up to grifters. If there is real community building going on, a pretender should be easier to spot, even if not completely avoided.

However, I wasn't thinking of the church as a whole giving out loans, but individual members... where the members care for each other and are more involved with eachother. If it is dispensed from some governing authority of the church, you open it up more to abuse.

Blogger Ominous Cowherd November 14, 2019 8:59 PM  

CM wrote:However, I wasn't thinking of the church as a whole giving out loans, but individual members... where the members care for each other and are more involved with eachother.

Bless your brothers when you get a chance. That doesn't have to mean money.

Blogger spinoza November 14, 2019 8:59 PM  

xevious2030 wrote:“hence it's not an illusion you seek to describe but someone's mind”

No, a situation.
Okay thanks Xevious, I can agree with you that a situation can change if it is your intention to change it, an illusion cannot. Someone writing that the problem Christians face is an illusion is infuriating to me.

Blogger Gen. Kong November 14, 2019 9:00 PM  

Just as curbing gov't power is heresy for Democrats, curbing economic power is equally heretical for Republicans!

Donks. vs. Phants = Globetrotters vs. Generals. On one side of the healers' shimmering fake coin it sez "flim" while the reverse side sez "flam". Heads they win, tails you lose. As someone noted in the past, there's nothing free about a rigged market. Or as the late George Carlin noted: "It's a club and you ain't in it." No way out of this by playing the game according to their rules.

What did Jesus do to the tables of the money-changers (= userers)? He certainly didn't play by their rules. Stop falling for the flim-flam is step number one.

Blogger CM November 14, 2019 9:03 PM  

I think scripture does a really good job at outlining community building, including criteria for ousting someone from the community.

I think if a church was started that really adhered to scripture in that concept, there would be less convergence, stronger communities, and more incentive to act within the confines of the community values (as opposed to this whole believe in abortion and you can't take communion).

Currently, what real loss is there in being kicked out of your church, if that even happens to ANYONE? How much community benefit are we deriving from our churches right now? They are barely successfully depositing the faith as it is.

If anyone of you were removed from your church for bad-think, how much would that affect you other than being righteously (literally) pissed off?

Blogger xevious2030 November 14, 2019 9:45 PM  

“Someone writing that the problem Christians”

No need to thank me, I did not convey the idea I intended. That is also outside what I said. The illusions are of freedom and of choice, in reference to pitting socialism and capitalism as entirely alternative to each other, with no spiritual component being involved as influence on both sides in the actual world.

Blogger Festus Magoo November 14, 2019 10:39 PM  

Distributism.

Blogger spinoza November 14, 2019 11:01 PM  

xevious2030 wrote:“Someone writing that the problem Christians”

The illusions are of freedom and of choice, in reference to pitting socialism and capitalism as entirely alternative to each other, with no spiritual component being involved as influence on both sides in the actual world.

Unfortunately, I'm unable to see your illusions. I have none of these fantasies that may have enlightened you to parlay these illusions here. What does your illusion look like? Is it static or does it run at 30 frames per second?

If people were explicit with their words when talking about important things there would be no problem.

Are you a woman?

Blogger SciVo November 14, 2019 11:08 PM  

Addressing the elephant that is not in the room: Nothing interesting in politics lately.

Blogger Azure Amaranthine November 14, 2019 11:17 PM  

Good luck xevious, I don't have the patience for that special kind of stupid that lacks second grade reading comprehension while assuming other people are being cryptic.

Blogger map November 14, 2019 11:29 PM  

This is a very interesting and useful essay for how supply-side advocates treated these same economic questions.

http://polyconomics.com/essays/esy-960329.htm

I was reading that essay again by Jude Wanniski. I still can't get over Irving Kristol being a former Trotskyite or that Jude is quoting Charles Beard...or that Jude considers Marx a good economist. The new Right that is emerging hates neocons because they were former Trotskyites, who were basically Marxists pulling a fast one on society. Jude is also out of touch with the new Right on trade so his essays supporting free trade would seem quaint to this crowd. To be fair to Jude, he was trying to evangelize the supply-side perspective to an audience of Keynesian, Monetarists and Communists, so he had to tailor his arguments to practical solutions that these groups could understand. For example, in the absence of a gold standard, monetary stability would have to be obtained through exchange rates...of which tariffs had to be prevented and trade encouraged, so that the examples of good policies in one place could be duplicated elsewhere. Or, couching the Laffer Curve as optimizing government revenue instead of maximizing profit. Or, tariffs as a way of preserving monopolies instead of protecting workers. Trying to offer practical advice from second-best solution (no gold standard) is very difficult.

Blogger map November 14, 2019 11:33 PM  

VD and others,

http://polyconomics.com/essays/esy-960329.htm

I'd be curious to hear an opinion on this.

Blogger John Rockwell November 14, 2019 11:43 PM  

Just as confucius once talked about:"Rectification of names" as in words must match up with reality.

So we need "rectification of money" money that reflects the scarcity inherent to reality. Funny money needs to be "rectified" as real money.

Blogger The Pitchfork Rebel November 14, 2019 11:55 PM  

Connect the dots:

Read this:

https://opportunity.businessroundtable.org/ourcommitment/

This was signed by a Corie Baxter as CEO of BBY.

This is an attempt to make directors and C-Suite types immune to actions for fiduciary breaches. When they fail to enhance shareholder interests, they simply say "our decision was balanced with the interests of other stakeholders".

It has nothing to do with economics or corporate citizenship, it has everything to do with making corporate directors and managers completely unaccountable in their actions.

I would say the the corporate cancer is spreading beyond HR.

Blogger SciVo November 15, 2019 12:23 AM  

map wrote:VD and others,

http://polyconomics.com/essays/esy-960329.htm

I'd be curious to hear an opinion on this.


That is actually interesting. I've just skimmed over it, and you should exercise caution and skepticism. But where I had an initial objection to "Good socialism is then superior to bad capitalism," the author overcame it later. So that is a very high recommendation.

Blogger SciVo November 15, 2019 12:35 AM  

To be clear, good capitalism is better than either; Trump destroyed Obama's "structural" unemployment, and then used the demolition waste to build new jobs. But they made a good argument for populist socialism over elitist/cronyist capitalism, whereas my initial objection would have been that all socialism is cronyist by nature. But maybe not coming right off of a crisis like the Great Depression.

Blogger JamesB.BKK November 15, 2019 12:36 AM  

Well, one of the reason HR and other useless departments with useless people came to exist in the first place is because of affirmative action/employment equity laws that can affect surprisingly small companies in some jurisdictions.

It occurred to me a few years back that all those laws were passed (at times when the supposed problems to be addressed were already in secular decline / improvement) to force companies to employ girls that were misled into spending their most fertile / and peak attractiveness years in uni. getting psychology and sociology and arts degrees. Some of those girls now or serially work in the permanent govt to continually increase the number, complexity, internal compliance burdens, and reach of such laws. It is very similar to the way third (and former second) world countries operate their SOEs and highly convoluted, corrupt, gatekeeping governments.

Blogger JamesB.BKK November 15, 2019 12:43 AM  

Vendor financing can be a decent income financing charge stream for a seller while providing a method of acquisition to a customer (unless it's abused to channel stuff). Extended warranties serve to financialize and spread risk with up front premiums.

Blogger Gregory the Great November 15, 2019 2:00 AM  

Prince of this world to his minions: At this phase of the implementation of our strategy money is not a priority any more. Let us focus on souls. And yes, you are free to talk about this.

Blogger map November 15, 2019 2:16 AM  

SciVo wrote:That is actually interesting. I've just skimmed over it, and you should exercise caution and skepticism. But where I had an initial objection to "Good socialism is then superior to bad capitalism," the author overcame it later. So that is a very high recommendation.

Check out the whole article. It's very good.

Blogger Jack Ward November 15, 2019 3:38 AM  

Best Buy testing: From the Corporate Commandos manual of Common Commitment [CCCC].
At BB frequent the Geek Squad counter/area. Check the ongoing [if any] dedication to usable knowledge delivered effectively to any curious, needful customer seeking said knowledge whether or not money is changing hands. Goal: are the Geekers offering out help without getting any monies from that customer request. Results: If yes, then that non-paying customer may become one that very trip or soon thereafter. If not, time to seek out a vigorous company still serious in surviving. Commandos report back to headquarters when done..... there are plenty of new assignments these days. Unfortunately.

Blogger xevious2030 November 15, 2019 7:17 AM  

Thank you AA. The choice in the name Spinoza was telling, when I saw it some time back.

Spinoza, you continually apply attributes and qualities that do not apply, to others. I have no frustration to give you though.

Blogger Damelon Brinn November 15, 2019 3:07 PM  

@147, There's also this.

Blogger Azure Amaranthine November 15, 2019 5:04 PM  

This comment has been removed by the author.

Blogger Boaty Bear November 16, 2019 2:45 AM  

Wizardry 101

"Crony Capitalism"
=
"Corporate Socialism"

The greatest trick the Devil ever played etc etc

Blogger spinoza November 16, 2019 11:24 AM  

Go Broncos!

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