A business gives raises, and Wall Street freaks out

[Horatio Parker]

Pretty sure.

You've got your Galbraiths confused. The Predator State is Galbraith fils, not pere.

I was referring to The Economics of Innocent Fraud: Truth for Our Time.

It's from 2004, so maybe 2008 would've modified his view.

... <snip>​

Quite right, sorry.

In that case I would come down more on Jamie's side rather than Jack's.

That would be my reaction as well. I included it because it's seems unique, kinda in the middle, and from a progressive economist.

 

[Harry Bosch]

I would not. But if I were retired, and all that I had for cash flow was SSN and my portfolio, I would be awfully tempted to invest in Cocaine Unlimited if I needed the return that they were promising.

I have no investments, so I'm not conflicted.

Having to choose between impoverishing retirees or workers isn't much of a choice…

How about strengthening SSN to cover basic needs so that the worker pay souring dividends thingie only costs MIL her golf outing to Palm Springs?

As an aside, you have no investments? None? No IRA, no Roth, no 401K? If so, I assume that you have a government pension of some kind?

 

[Horatio Parker]

I have no investments, so I'm not conflicted.

Having to choose between impoverishing retirees or workers isn't much of a choice…

How about strengthening SSN to cover basic needs so that the worker pay souring dividends thingie only costs MIL her golf outing to Palm Springs?

As an aside, you have no investments? None? No IRA, no Roth, no 401K? If so, I assume that you have a government pension of some kind?

ee cummings said poets should be fed by the ravens.

Now I just have to get the poetry thing together...

 

[Don2 (Don1 Revised)]

Shareholders are just like everyone else, they will always seek to maximize their return.

We do?

 

[Harry Bosch]

Shareholders are just like everyone else, they will always seek to maximize their return.

We do?

Well, I guess that you are one who doesn't. For what reasons do you invest in a company?

 

[Don2 (Don1 Revised)]

We do?

Well, I guess that you are one who doesn't. For what reasons do you invest in a company?

Just to clarify as I don't want to create a misunderstanding, I am not a stock broker or major investor, but simply mostly a passive investor, I've dabbled in the market, and I've bought stock through options as an employee. I've been a shareholder in the past mostly from options and dabbling. The reason (your point) is for money, but money isn't the only thing that matters in my life. I have not gone out to buy Halliburton stocks, for example, and I wouldn't. So that's my counterpoint, that maximizing profit isn't the absolute single variable in a decision to invest.

 

[Harry Bosch]

Well, I guess that you are one who doesn't. For what reasons do you invest in a company?

Just to clarify as I don't want to create a misunderstanding, I am not a stock broker or major investor, but simply mostly a passive investor, I've dabbled in the market, and I've bought stock through options as an employee. I've been a shareholder in the past mostly from options and dabbling. The reason (your point) is for money, but money isn't the only thing that matters in my life. I have not gone out to buy Halliburton stocks, for example, and I wouldn't. So that's my counterpoint, that maximizing profit isn't the absolute single variable in a decision to invest.

We're the same. I also have other interests than just money. I would not invest in Haliburton stocks. I wouldn't invest in Trump stocks. If a company intentionally pollutes, I'd pull out the next day. One of my mutual funds specializes in investing in companies in the alternative energy sector. I have excess cash. I can afford to lose money in the market. However, I know people who are retired and are living on the edge. SSN isn't going to cut it for most people. I know people in their 50s who have lived high on the hog, never saved a dime for retirement. Now they are trying to catch up. If I had to feed my family from my stock market returns, I'd focus on returns, nothing else.