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Author Topic: Stock traders are idiots.  (Read 5998 times)

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Offline mdwh2

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Re: Stock traders are idiots.
« on: May 14, 2004, 10:51:13 PM »
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FluffyMcDeath wrote:
Capitalism isn't there to benefit people. It's there for the benefit of those with the gold.

There are benefits to people without "the gold" too. I like being able to choose who to work for, rather than having some central authority choose what I do. I like being able to choose who to buy my goods and services from, too. People who start off life with a lot of money are at an advantage, but then this is true in most if not all economic systems I've come across.

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Employed people are a liability. The fewer people working for a company, the less people that need to be paid.
Saying that employed people are a liability isn't a view shared by many of the corporations that you appear to dislike. Employees make up a company, and are arguably its most important part. Of course, you are right in that there is a tendency towards getting the job done with as few people as possible, but how is this a bad thing? Should we employ people doing unnecessary work just so they can have a "job"?

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As you know, too many people working produces upward wage pressure which leads to rising prices. This is called inflation and is very very bad because it unfairly penalizes people who do not work for a living, i.e. the investing classes who make their money from their money. Anything that makes money worth less is bad. Inflation does not have such a dire effect on workers because their wage is going up so a burgers worth of work today is a burgers worth of work tomorrow. However, if you just live off your money then your buying power decreases over time.
Except interest rates - that little thing which allows people to live off their money - tend to be higher than inflation, and this is just as relevant a point as saying that wage rises will increase in line with inflation. In fact, I would have thought that interest rates being higher than inflation tends to be more likely than people getting a wage rise (those evil capitalists don't like to give wage rises!), in which case, workers are more at a disadvantage from inflation.

A worker is more likely to be paying out a greater proportion of his wages for cost of living, so inflation hurts more there too (I know my rent has been rising quite rapidly the last few years - if I was a rich greedy capitalist, I wouldn't have this problem!)
 

Offline mdwh2

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Re: Stock traders are idiots.
« Reply #1 on: May 15, 2004, 04:24:57 PM »
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Dan wrote:
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mdwh2 wrote:
There are benefits to people without "the gold" too. I like being able to choose who to work for, rather than having some central authority choose what I do.

Socialism!=Soviet
But socialism isn't mutually exclusive to capitalism.

If FluffyMcDeath (or whoever) wants to advocate a specific alternative to capitalism, then he should say what that alternative is. All the while it's just capitalism bashing, all I can do is pick particular examples - a centrally controlled communist society being the most common example.