Part Sechs of You Can't Make This Stuff Up!

That was your reply?!

Then I asked what did you mean? Are you saying that all private equity investors are Conservatives?

Is that what you were thinking of when you typed that up to start with?  

I do not understand your answer — if this was your answer?  

No, all private equity investors are not conservatives but all of them will accept a government handout. McConnell said Republicans would build a wall against socialism but yet are bailing out corporations again.

Pro/Con beliefs on socialism & capitalism fall very much into economic buckets. However, having roads, libraries, hospitals etc are a form of socialism that in most cases benefits everyone.

When it is to their advantage, Republicans accept socialist benefits with open arms. Contrarily, I do not believe most people want to stay home and get a free handout from the government. But I believe it is society's duty to help those who cannot help themselves.

A good blend of socialism/capitalism is what we have now & IMO it's working well for all.

For example?  Where have you heard this from any conservative or capitalist?  Where have you heard these guys calling for a bailout?

Pro/Con beliefs on socialism & capitalism fall very much into economic buckets.

I have no idea what that statement even means?  Explain what you mean further?

I do not think this is a trueness reflection of the opposition of their beliefs at all.  It is way more than mere economics.  

Here's an interesting story I read about Pastor Pence in January 2009...

The Good Pastor was named #3 House republican and at the annual retreat in Hot Springs, VA there was a lot of backslapping and congratulatory handshakes. Pence produced a clip from the movie Patton.

The WWII General said "We are advancing constantly, and we're not interested in holding onto anything except the enemy. We're going to hold onto him by the nose, and we're gonna kick him in the ass. We're gonna kick the hell out of him all the time, and we're gonna go through him like crap through a goose." He stunned his fellow Republicans and then polite applause was heard.

Who knew?

Months after President Donald Trump promised to open FBI files to help families of the 9/11 victims in a civil lawsuit against the Saudi government, the Justice Department has doubled down on its claim that the information is a state secret.

What state secret? Does anyone know?

There's an excellent interview with Dr. Fauci reported in ...VANITY FAIR!

The term “socialism” has been applied to very different economic and political systems throughout history, including utopianism, anarchism, Soviet communism and social democracy.

But social reform programs like Social Securityand Medicare, which opponents once denounced as socialist, became over time a well-accepted part of American society.

The wide range of interpretations and definitions of socialism across the political spectrum, and the lack of a common understanding of what socialism is or how it looks in practice reflects its complicated evolution. Nonetheless, socialist parties and ideas continue to influence policy in nations around the world. And socialism’s persistence speaks to the enduring appeal of calling for a more egalitarian society.

Socialism

Socialism is both an economic system and an ideology (in the non-pejorative sense of that term). A socialist economy features social rather than private ownership of the means of production.

Socialistideology asserts the moral and economic superiority of an economy with these features, especially as compared with capitalism. More specifically, socialists typically argue that capitalism undermines democracy, facilitates exploitation, distributes opportunities and resources unfairly, and vitiates community, stunting self-realization and human development. Socialism, by democratizing, humanizing, and rationalizing economic relations, largely eliminates these problems.

Yes, corporate bailouts are capitalist, even if they don't conform to capitalist ideology.

There has been a lot of discussion here recently about corporate bailouts and whether they should be classified as either socialist or capitalist. u/englishmaanMade a post here a few days ago claiming that corporate bailouts and socialism are based on the same principle, therefore corporate bailouts are socialist.While some people came close, no one really called them out on the guilt by association fallacy, and I think the reason is, a lot of us are guilty of making this fallacy. The point is what socialist advocate for and what socialism is are two completely different things, and they should not be confused. The same goes for capitalism.

The literal definition of capitalism from the dictionary: “an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.“. There’s nothing about a completely free market in there. Both corporatism and social democracy (corporatism especially) still preserve the system of capitalism, as the system is defined by private for profit industry largely controlling the economy, not said economy being completely free from government intervention. Even with corporate bailouts, the economy and the means of production are still almost entirely controlled by private owners.

My point is that you can't just define capitalism, that's not how it works. What you did there was just tell me what you think capitalism should look like.

What capitalism actually is determined empirically; in other words I first look at what capitalism is, before I define what it is. Looking out into the world I see that bailouts, and other market interference in way challenge capitalism, but on the other hand, helps capitalists and capitalism in general to get past certain crises. Therefore, it does not make any sense to me to then define bailout as somehow anti-capitalism. Maybe it's against a certain capitalist ideology, but not against capitalism.

With all of that as a background how do you consolidate this:

Republicans love capitalism when things are going well for the country but they equally love socialism when things are going poorly for the country. 

What capitalist has said/wrote something to make you feel this way?

That is still my question?  

No rush.  Take your time.  

You can cut/paste but that doesn't share your opinion. So how about doing that?

Hurry up! I'm a busy man. 

My opinion is what you posed is not correct.  And I provided information and examples as proof.  

Your turn. 

What you posted was someone else's opinion from a textbook or article you have. I don't believe you wrote that response. And it's not a matter of right or wrong. It's a matter of what we believe. You believe Trump is doing a good job & I think he's a POS. I believe Republicans care more about their own pockets rather than the pocket of society. 

My life experiences have proven to me my statement is correct

Joel Osteen: “If Jesus Wanted Me To Share My Wealth, He Wouldn’t Have Let Me Accumulate $40 Million!”

Spoken like a true Republican. This is the same guy who wouldn't open his church to help save people in Houston during a hurricane.

From Midnight1 Psalms of Life 2.4.2 "Jesus would slap the shit out of you."

Best thing that could happen to Dr Fauci:

1. Trump fires Dr Fauci

2. Cuomo hires Dr Fauci

3. Dr Fauci tells the whole truth

Yes. From places that defined the philosophies and set the groundwork for a basis of where the capitalist and the socialist come from.  

But that is some of the stuff I base my opinion on.  

My opinion is simply that I disagree with your opinion.  As I understand it:

 Republicans love capitalism when things are going well for the country but they equally love socialism when things are going poorly for the country. 

I do not believe this.  I do not know any Republican that does.  I do not know any pundit or political writer that does.

So, I have asked you to support your opinion — and so far you have not.  You can’t even give me the example that you were thinking of when you wrote that statement.  

You keep saying nobody will debate you on anything.  This is like the third time I have tried.  This is a good topic because it is a difference of philosophical ideas — not just political talking points.  

But you cannot even get going on this topic either.  

I am not interested really in Trump, have never said one way or the other about whether I think he is doing a good job or not.  No point in discussing that.  

What life experiences prove to you that Republicans like capitalism in good times and socialism in tough times?  

This is where you can support that opinion.  

If you cannot I fully understand.  

But then you cannot continue say no one wants to debate issues with you.  

I for sure and not just simply going to go back and forth and repeat talking points about whether Trump is so awful or not.  No point to that — I get it — you hate the guy.  I think that is irrational and unreasonable.  So I am not trying to argue about that.  

I always go with the idea that, “You cannot reason someone away from something, when reason is not what got them there in the first place.”  

But ideas and philosophies — I am okay with that.  

I doubt Mr. Donald J Trump will fire Dr. Fauci. Trump appears yearning for doing that when on Sunday he retweeted a call to fire Dr. Anthony Fauci, but I think he will pay hefty price for doing it. 

Snorkel...good to see you've come up for air.

I can argue both sides.  I like to make it a point to understand the points of both sides.  

Would you like to switch sides and I can make your argument if you like?

OK, I'm getting tired of this subject but I'll give it another shot.

You love Medicare but not Medicaid, right?

You are OK with corporations getting bailed out & I am not, right?

68% of Republican women view socialism in a positive manner.

Here's a life experience...growing up things were pretty tough from a financial point of view not just for my family but most in the neighborhood. My Dad lost his job at the Daily News in NYC & couldn't find another for months. He picked up odd jobs here and there as a carpenter to put food on the table, I was about 12 at the time. We missed our rent payment & my father offered to do perform carpentry work within the building as well as other buildings owned by this wealthy guy. He refused the offer and we had one foot out on the street which was pretty scary for a kid. Thankfully, my grandmother came up with the rent, my father got another job & the rest is history. The landlord planned to raise the rent in the apartment 50 bucks a month if we had been forced out. 

Move ahead 5 years & we are playing fast pitch softball & his son was playing 2nd base. I never forgot what his Dad did to mine & when I got my chance I broke his ankle on a legitimate slide into 2nd base.

His father had become a Republican state congressman in the Bronx & I always remember that he had a chance to help us but chose his money over my family. I have other life experiences both as a small business owner dealing with banks & my corporate experiences where people were treated as disposable. I won't bore you with those but life experiences helped shape my views on the subject. 

To further bolster my view of private equity, look and see what Blackstone's United Health & other healthcare companies are doing during this pandemic. They are reducing physician salary, paid time off etc. Take a look at Cali Rep. Katie Porter's letter she recently sent. You can find it online.   

Former Putin flunky, Marc Caputo, has joined the Trump administration.

You Can't Make This Stuff Up!

t’s a world of laughter
A world of tears
It’s a world of hopes
And a world of fears
There’s so much that we share
That it’s time we’re aware
It’s a small world after all.

— “Disney’s Sing-Along Songs”

It’s been messy and, at least for the time being, it’s all gone. Who got the funding? That’s not yet clear. The Government Accountability Office and the Congressional Oversight Commission have been tasked with following the money, but it will take time — weeks, maybe months — for their reports to appear. The SBA said it has approved about 1.4 million loan applications, which account for some $301 billion of the $349 billion committed to small business. This suggests that, on average, each applicant got about $215,000.

Here’s what’s curious: There are 30 million small businesses in the U.S., according to the SBA’s own data, so less than 5% of them have gobbled up most of the bailout money in just two weeks. Who are the lucky — or well-connected — winners? We’ll have to wait and see, but in the meantime, at least one subset of entrepreneurs who also consider themselves small business owners are worth some attention.

Hedge fund managers, those elite risk arbitrageurs whose financial derring-do, market dexterity and compensation have made them the stuff of legends, are lining up for small business bailout money.

According to Bloomberg News,, hedgies and other trading firms have been taking cues from their accountants and lawyers and making bids for some of that $350 billion. When the Coronavirus Aid, Relief and Economic Security Act passed earlier this month, it mandated that small businesses would be defined as any entity with fewer than 500 employees. Sure enough, lots of hedge funds fall under that umbrella. The the top 10 or so funds in the U.S. employ anywhere from about 500 to about 2,500 people each, but once you move down the rankings the headcount (as well as the amount of assets under management) shrinks rapidly. So sure, hedge funds are “small” by the government’s definition, and right now, with the economy falling apart and bottom lines evaporating, “small” is a good thing to be if you want a handout.

However…

Hedge funds have “large” fortunes tucked inside their “small” businesses. An average portfolio manager at a hedge fund may make about 1.4 million a year. Last year, the top 15 hedge fund managers collectively earned about $12.4 billion, an average of about 827 million each. In one year. That’s large.

A hedge fund’s mission is to navigate risk and make money for clients. They get to live large when they do that effectively, and are meant to suffer the financial consequences when they don’t. Some hedge funds even specialize in profiting off the existential mistakes of others, and typically insist on enforcing survival-of-the-fittest rules to get paid — even if it’s a distressed territory like Puerto Rico, for example. It’s only fair that hedgies should hold themselves to the same standard and man-up under duress.

Consider me old-fashioned, but I think “small businesses” are the relatively modest retail, manufacturing, mining and service enterprises spread around the country. They are run by people like Mike Guerriro, a gelati vendor I recently profiled. Mike hasn’t taken home $827 million from his business in any year, ever. You can argue that a gelati vendor isn’t as important to the economy as a hedge fund and is thus less worth bailing out, but that’s a separate and subjective rabbit hole. At least one counterargument is that a vendor may get permanently sidelined by the corona-crisis, while a hedgie, if he or she has been smart, has already saved years’ worth of survival money and can bounce back more readily after things settle down.

In that context, it might have been useful for legislators to move beyond headcount when defining eligibility for a small business bailout. Being “vulnerable” is just as important as being “small,” and right now some businesses are more vulnerable than others.

Hedgies who think I’m being too strict can find solace in the tax code. More than 80% of the benefits of a tax reform legislators embedded in the CARES Act will reportedly go to those who earn more than $1 million annually on “pass-through” income — making hedge fund investors and real estate developers like President Donald Trump prime beneficiaries.

You can find the entire article on Bloomberg News.