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Old 11-29-2009, 02:10 PM
 
2,311 posts, read 2,880,977 times
Reputation: 1217

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Quote:
Originally Posted by Clarks View Post
providing you with such non essential items, as the food on your table, sad.

I love this stuff, don't these guys have an education? The Global Rank number is Forbes world ranking by company, not bank size, notice that 9 out of the worlds 10 largest are from those socialist countries, including [oh my gawd] the French and the Chinese Commies.
Quote:
Originally Posted by Clarks View Post
And the world's largest company is from one of those business hating socialist countries, who'da thunk?
Firefox just crashed and deleted my long reply ...
However, .. i will summarize ..
Who'da thunk Confirmation Bias results in someone picking up a random set of data and trying to make some form of casual relationship where not even a correlative relationship exists. I have an education and thus I raise my brow at your half behind attempt at trying to establish that because a company X has a high net worth value and resides in a socialist country that somehow economic prosperity for the people of that country is more evenly distributed than in country Y...
So, on depository investment banks ....
#1 : How much of the $$$ maintained within the company that allows it to achieve a high rank is actually :
(a) from people in that country and not people from other countries attempting to avoid taxation
(b) from rich people who have all the money in the country vs. the majority who .. well, don't? (wealth distribution)
#2 : How much of the revenue of those companies comes from Investment banking based operations ? and not deposits
(c) In respect to these operations where o' where did the AIG bailout money go ? To what extent was it used to bail out EU banks that were taking risky bets ?

(d) of the latest dumb venture of the decade... which country/banks are found to be the most exposed?

Creditors:Of United Arab Emirates (By Origin via Credit Suisse citing Bank for International Settlements):

United Kingdom: $50.2 billion
France: $11.3 billion
Germany: $10.6 billion
United States: $10.6 billion
Japan: $ 9.0 billion
Switzerland: $ 4.6 billion
Netherlands: $ 4.5 billion
Of United Arab Emirates (By Entity via Credit Suisse, citing Emirates Bank Association):
HSBC Bank Middle East Limited: $17.0 billion
Standard Chartered Bank: $ 7.8 billion
Barlays Bank Plc: $ 3.6 billion
ABN-Amro (RBS): $ 2.1 billion
Arab Bank Plc: $ 2.1 billion
Citibank: $ 1.9 billion
Bank of Baroda: $ 1.8 billion
Bank Saderat Iran: $ 1.7 billion
BNP Parabas: $ 1.7 billion
Lloyds: $ 1.6 billion


Who would of thought? HSBC !!!!!!! Top exposure :

United Kingdom: $50.2 billion
France: $11.3 billion
Germany: $10.6 billion


Seems to me EU takes a lot of risky ass bets... More risk more reward... if they lose... Since socialism is the norm.. tax payers pay for it... so why again are they some of the biggest most successful institutions ...? Seems simple enough to me...
What again does the EU produce? expensive leather products, expensive designer clothes, expensive cars, expensive x,y,z,a,b,c,d,e,f,g...

On spain.. how are the people doing there? "Official figures have revealed that Spain’s unemployment rate has reached 19.3% (one of the highest of any European region) as the economy has been hit by a severe slump within the construction industry, which has led to a significant amount of job losses." .. Oh thank god for those banks.. They sure are great job producers for the common folk....



#3 : Of the deposits held at these institutions which comprise the least of their 'business success'.. How is it distributed amongst account holders? do a bunch of rich obligarchs maintain most of the wealth as you would expect in a socialist country?



Quote:
Originally Posted by Clarks View Post
And the world's largest company is from one of those business hating socialist countries, who'da thunk?
#4 : What in the #$#^ does this have to do w/ anything? Back in the day when slavery was legal .. A business owner could make tons of money off of paying their workers relatively nothing.. giving them you know that stuff that's found in a social contract : food/water/shelter while living next to their huts in mansions.. Gee, I wonder what it would feel like if you went to the UK....
#5 : I wonder, in the UK .. how much of the wealth is due to old money derived from the rape/plundering committed by this country back in history? I wonder how much of that old money circulates in EU...
I wonder what was the motivation of the founding fathers who created the very country you live in? I wonder wtf happened along the way to 2009....

I wonder I wonder I wonder....
I wonder in china... how their workers would feel about you congratulating the success of their companies that work them like slaves under deplorable conditions and pay them pennies ... and thus results in the company's well being ... I wonder how chinese people who have a saving culture as opposed to a spending culture would define you myopic measure of their relative wealth....

And you topped this off w/ some snide remark.. "
I love this stuff, don't these guys have an education?" ... And you call you baseless myopic attempt at equated socialism/communism to relative prosperity for those under its rule an educated logical argument based on some useless chart from forbes....?

I am sorry.. I trade/invest and follow this data on daily basis.. Maybe its you who should get an education before attempting to spread nonsense via interpreting evidence in a biased way.

On why Wealth inequality took off in the U.S :
Trade liberalization may shift economic inequality from a global to a domestic scale[6]. When rich countries trade with poor countries, the low-skilled workers in the rich countries may see reduced wages as a result of the competition, while low-skilled workers in the poor countries may see increased wages. Trade liberalisation has had a measurable effect on the rising inequality in the United States. This trend is attributed to increased trade with poor countries and the fragmentation of the means of production, resulting in low skilled jobs becoming more tradeable. The effect of trade on inequality in America is minor when compared to other causes, such as technological innovation, a view shared by other experts. Lawrence Katz estimates that trade has only accounted for 5-15% of rising income inequality. Some economists, such as Robert Lawrence, dispute any such relationship. Lawrence, in particular, argues that technological innovation and automation has meant that low-skilled jobs have been replaced by machine labor in wealthier nations, and that wealthier countries no longer have significant numbers of low-skilled manufacturing workers that could be affected by competition from poor countries[6].

Last edited by yeahthatguy; 11-29-2009 at 02:23 PM..
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Old 11-29-2009, 02:19 PM
 
Location: West Coast
1,302 posts, read 3,589,220 times
Reputation: 681
rep!
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Old 11-29-2009, 04:12 PM
 
Location: Central Coast
2,014 posts, read 4,836,425 times
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hoo boy, looks like I pushed somebody's button. Just think, my only point was to demonstrate that socialists are not business haters, like some apparently feel, and yet, a poster went ape doo doo bananas in an attempt to denigrate socialism,,,,, like I care.

I make a heck and a bunch of money under the capitalist system, but that doesn't mean other systems don't work. Back to that ole Education thing for some of you.
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Old 11-29-2009, 05:46 PM
 
2,311 posts, read 2,880,977 times
Reputation: 1217
Quote:
Originally Posted by Clarks View Post
hoo boy, looks like I pushed somebody's button. Just think, my only point was to demonstrate that socialists are not business haters, like some apparently feel, and yet, a poster went ape doo doo bananas in an attempt to denigrate socialism,,,,, like I care.

I make a heck and a bunch of money under the capitalist system, but that doesn't mean other systems don't work. Back to that ole Education thing for some of you.
Looks like you tried to push misinformation and got called out. Your data could in fact be used to further demonstrate potential problems w/ socialism.. Last I checked some of those top banks are nationalized by those 'socialist' countries they reside in..Thus resulting in the huge losses still stemming from those institutions being the burden of non benefiting citizens.. That results in record bonuses for some of these banking thugs and 17.9% unemployment for the others...

I don't have to go on some rampage to denigrate socialism.. If history is of any consequence and the facts/data.. i think it speaks for itself.. I did not denigrate socialism in any way in my post. I pointed out your data in no way provides a supporting argument for the statement that 'my only point was to demonstrate that socialists are not business haters'. You never made a point because it was loaded on a bogus premise and a false correlative/causation argument... So yeah, back to the drawing board.. next time maybe you will try to come up w/ a better argument before trying to push nonsense out on people... I'll make sure to be around to call you out so you don't pull any fast ones .

Good Day
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Old 11-29-2009, 05:59 PM
 
Location: Central Coast
2,014 posts, read 4,836,425 times
Reputation: 816
Quote:
Looks like you tried to push misinformation and got called out
Too funny, apparently you haven't been paying attention. The prior poster stated that socialists were business haters, I posted a couple of things that showed he was mistaken, you got your skivvies all twisted up about that, but, again, you weren't paying attention in the first place, now go beat your drum some more, I bet somebody cares.

Oh, and limit your words to a few short declarative sentences, my eyes glaze over when faced with the long winded rants of idealogues.
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Old 11-29-2009, 08:21 PM
 
434 posts, read 714,676 times
Reputation: 516
Is there no end to the silly "statistics" and arguments trying to tell us that socialism is good for us? What fool would believe that? Twist things anyway you want, but people know that socialism is bad. Bad for liberty, bad for freedom, bad or business, bad for your health, bad for personal initiative - just plain bad. Ask anyone who has lived in a socialist country what they think of socialism.

The only way to sell socialism to people is to use underhanded trickery. Ask them if they belong to a homeowners association. "Well see you've already got socialism. Now it's really not so bad is it?" Don't mention the real evils of scoialism or the socialist countries where tens of millions of people were put to death. "But that wouldn't happen here. We're only going to give you a little dose of socialism. Just take away a few of your liberties"

This socialsim sales job may work on empty-headed 19 year-old college freshmen, but it won't work on anyone who has done real work for a livig. Outside of people feeding at the public trough you'd be nuts to want socialism.

I cannot imagine a greater evil than socialsim. Those who try to fool others into accepting it for the US should be ashamed. They are certainly not patriots.
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Old 11-30-2009, 10:37 AM
 
Location: Central Coast
2,014 posts, read 4,836,425 times
Reputation: 816
Quote:
I cannot imagine a greater evil than socialsim. Those who try to fool others into accepting it for the US should be ashamed. They are certainly not patriots.
So life sucks for all of Western Europe? who'da thunk.

Approving of America is limited to capitalists?

Reminds me of HL Mencken's remark; "Patriotism is the last refuge of a scoundrel"


When the Nazi's wanted to blame a group for Germany's defeat in World War I, they blamed the socialists, and the jews, in no particular order.

Here in America, some groups blame the socialists for the ills of America...... wonder where they got that idea?

Those darned socialists, they just wreck everything.
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Old 11-30-2009, 11:38 AM
 
Location: SW MO
23,605 posts, read 31,383,208 times
Reputation: 29064
Quote:
Originally Posted by yeahthatguy View Post
So yeah, back to the drawing board.. next time maybe you will try to come up w/ a better argument before trying to push nonsense out on people... I'll make sure to be around to call you out so you don't pull any fast ones .
And he's so humble about making "a heck and a bunch of money." How refreshing!
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Old 11-30-2009, 12:17 PM
 
Location: Central Coast
2,014 posts, read 4,836,425 times
Reputation: 816
Gee curmudgeon, just how much is a heck and a bunch?, and that poor yeahthatguy never did figure out what my post said, he just saw an opportunity to rant, sort a like Bush invading Iraq when Al Qaeda was in Afghanistan.

Edumacation is a good thing, more people shoule try it.
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Old 11-30-2009, 01:01 PM
 
Location: SW MO
23,605 posts, read 31,383,208 times
Reputation: 29064
Quote:
Originally Posted by Clarks View Post
Gee curmudgeon, just how much is a heck and a bunch?, and that poor yeahthatguy never did figure out what my post said, he just saw an opportunity to rant, sort a like Bush invading Iraq when Al Qaeda was in Afghanistan.

Edumacation is a good thing, more people shoule try it.
Or "should," at the very least.

Either way, I agree!
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