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    Joined: Jul 2011
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    The farm dream didn't die. It was doing just fine. My father and his brother just didn't want to farm. Rather, my father wanted to climb the school ladder and become a school superintendent.

    And now they've gone off and sold the farm as of 2010.

    So, after who knows how many generations, my family is now farmless.

    Completely farmless.

    That's right.

    No soybeans. No corn. no cows.

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    Originally Posted by Austin
    I think this discussion is germane to GT.

    What role will GT kids have in the future? How will that role allow them to be fulfilled and happy? How will that life fit in with the broader forces at work in our society? What resources should be allocated for their education? How do we identify GT kids across all economic levels and help them to reach their potential?

    It is completely relevant. Murray is saying that the entire new upper class is composed of gifted adults and children like these and that they are likely to stay the ones in power. He is suggesting that they have a responsibility to society to set the "right" example and that it is wrong for them to just exclude themselves from society, do their own thing and then simply say "To each their own. My choices might not be the choices for you."

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    Originally Posted by La Texican
    All of that was complicated enough before corporations became increasingly international. Now you have these corporate leaders deciding what's best for their employees and customers and living in this global country instead of a homogenous melting pot like America. Meanwhile the US government is trying to exert authority over the rights and responsibilities of these international companies and their siblings the American people. Which is why government leaders are supposed to be good decision makers, or why?

    http://en.wikipedia.org/wiki/Regulatory_capture

    On the one hand, you need detailed knowledge of an industry to regulate it, then you need detailed knowledge of the regulations to abide by them.

    It goes both ways, though. Someone works for a company then works for the government, then goes back.


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    I'm just waiting to see if the "new elite" completely destroy our currency/debt system or reform it.

    We will know by 2024 at the latest, I presume.

    http://www.prudentbear.com/index.php/thebearslairview?art_id=10633

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    That's true, like, there's a bunch of people comming here working in the oilfield. And they're paying good rent and buying food and beer. But the property taxes here are low. So, in a way, the town's making more money, in another way they're renting not buying (most places aren't selling, they're just staying somewhere else to rent during the boom). So the town isn't making more property taxes for the school, sewer, water, and roads these extra workers are using.
    Guess that's a negative externality (if I'm reading your wiki link right). Who's paying for the extra sewage wear and tear? No one. It isn't overflowing yet. But everybody's happy with the extra cash flowing around right now.


    Youth lives by personality, age lives by calculation. -- Aristotle on a calendar
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    Originally Posted by Austin
    Originally Posted by La Texican
    All of that was complicated enough before corporations became increasingly international. Now you have these corporate leaders deciding what's best for their employees and customers and living in this global country instead of a homogenous melting pot like America. Meanwhile the US government is trying to exert authority over the rights and responsibilities of these international companies and their siblings the American people. Which is why government leaders are supposed to be good decision makers, or why?

    http://en.wikipedia.org/wiki/Regulatory_capture

    On the one hand, you need detailed knowledge of an industry to regulate it, then you need detailed knowledge of the regulations to abide by them.

    It goes both ways, though. Someone works for a company then works for the government, then goes back.

    Yes. What I was getting at with externalizing costs.

    From the negative externality page:
    "A business may purposely underfund one part of their business, such as their pension funds, in order to push the costs onto someone else, creating an externality. Here, the "cost" is that of providing minimum social welfare or retirement income; economists more frequently attribute this problem to the category of moral hazards."

    http://en.wikipedia.org/wiki/Moral_hazard

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    Well JL like they say, "history is written by the victors" and like I say history's unfolding before us as con-fuse (or fuse together) the nations, first under the corporate banner. That's, I think, why money's "too big to fail". Corporations are the first born of a race of Indo-Euro-Afro-Ameri-Asians. Planetary Natives.
    Meanwhile keeping America the Beautiful and everybody else's countries soverign and local. (keep your fingers crossed and hope this works)


    Youth lives by personality, age lives by calculation. -- Aristotle on a calendar
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    Originally Posted by La Texican
    Well JL like they say, "history is written by the victors" and like I say history's unfolding before us as con-fuse (or fuse together) the nations, first under the corporate banner. That's, I think, why money's "too big to fail". Corporations are the first born of a race of Indo-Euro-Afro-Ameri-Asians. Planetary Natives.
    Meanwhile keeping America the Beautiful and everybody else's countries soverign and local. (keep your fingers crossed and hope this works)

    Let me know when financial bubbles start creating enduring prosperity instead of manias, panics, and crashes.

    John Law (Economist) - Wikipedia


    Last edited by JonLaw; 02/20/12 01:23 PM.
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    Quote the Wikipedia Jon Law's
    "real bills doctrines":

    The real bills doctrine holds that issuing money in exchange for real bills is not inflationary.[citation needed] It is best known as "the decried doctrine of the old Bank Directors of 1810: that so long as a bank issues its notes only in the discount of good bills, at not more than sixty daysí date, it cannot go wrong in issuing as many as the public will receive from it.'"[citation needed] This theory is in opposition to the Quantity Theory of Money proposed by Irving Fisher which states that "Money supply has a direct, positive relationship with the price level."[citation needed]



    K. †I clicked on his "real bills doctrine". † †By saying "at not more than sixty days date" is he saying our fiat money is actually option notes on "real bills". †If that's what it's saying then I feel like I learned something new today.


    Youth lives by personality, age lives by calculation. -- Aristotle on a calendar
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    Quote "our" Jon Law:

    Let me know when financial bubbles start creating enduring prosperity instead of manias, panics, and crashes.



    No, I meant more like they're the scout camp, going to foreign places, seeing beautiful people and exotic things and.... Not blowing them up. I respect and thank our military, don't take that the wrong way. I wouldn't call corporations saints (more like outlaws) but... How have nations interacted throughout history. Uh huh. Globalization through the Banksters corporate dealings sure seems less violent than command and conquer new territories. And the countries get to keep their local governments. It's not paradise, but it's less bloody globalization.


    Youth lives by personality, age lives by calculation. -- Aristotle on a calendar
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