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Thread: The economic recovery turns 2: Feel better yet?

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by phattonez View Post
    And that's based on what? CEO's don't go to business school? They don't move their way up the ladder with smaller management jobs? It seems that you're buying into a myth rather than looking at reality.
    If you think skills and abilities will land you that nine million dollar salary, then you're the one buying into myth. No, the big money jobs are meted out according to who you know. It's not a whole lot different from politics. Do you get to be a senator, representative, or president based on having skills that are superior to your opponents'?
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by Dittohead not! View Post
    If you think skills and abilities will land you that nine million dollar salary, then you're the one buying into myth. No, the big money jobs are meted out according to who you know. It's not a whole lot different from politics. Do you get to be a senator, representative, or president based on having skills that are superior to your opponents'?
    Show me the man who gets a CEO job without any skills or previous experience.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by Ockham View Post
    Perhaps - but I don't put much weight into hypotheticals, and I certainly don't buy into the whole class warfare stuff. Look, bottom line is if the situation were reversed and CEO's were getting royally screwed and the workers had the opportunity to make 25% more, of course they'd take it, in a heartbeat.
    Here is the key difference, if a CEO of a major corp loses 25% of his pay, he doesn't feel it well it counts, his stomach. When employees (as a class) get 25% less, they tend to have to rely on charity to not starve. IMO, all rich people who get millions in bonuses should take 50% of those millions and split evenly among their lowest paid workers. Theres you recovery. Too bad it will never happen

    Quote Originally Posted by phattonez View Post
    Show me the man who gets a CEO job without any skills or previous experience.
    That wasn't his point. We do not have a meritocracy. The people who are the best, aren't necessarily the ones to be in positions of power.
    Last edited by xpiher; 07-03-11 at 05:03 PM.
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by xpiher View Post
    Here is the key difference, if a CEO of a major corp loses 25% of his pay, he doesn't feel it well it counts, his stomach. When employees (as a class) get 25% less, they tend to have to rely on charity to not starve. IMO, all rich people who get millions in bonuses should take 50% of those millions and split evenly among their lowest paid workers. Theres you recovery. Too bad it will never happen
    Except the poor typically don't know how to invest, and then there goes all of your growth.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by phattonez View Post
    Show me the man who gets a CEO job without any skills or previous experience.
    That's not what I said.

    There are thousands of people who possess high levels of skill who don't make anywhere close to nine million.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by phattonez View Post
    Except the poor typically don't know how to invest, and then there goes all of your growth.
    Do you understand economics at all? The poor don't need to invest! They can spend all that money, the money will circulate 100x over and create demand 100x over. It will eventually reach people who know how to and want to invest, but prior to that commerce will increase! If a CEO makes 100million in a bonus and splits 50million of that between 10k workers, those 10k workers now have 5k more to spend and pay down debts. If that CEO only has 1k employees who are "poor" then those 1k employees now have 50k each!
    Last edited by xpiher; 07-03-11 at 05:10 PM.
    Hayek - too liberal for republicans

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by Dittohead not! View Post
    That's not what I said.

    There are thousands of people who possess high levels of skill who don't make anywhere close to nine million.
    Because it's not skill that determines how valuable you are. It's how much your skills are demanded.

    So again, show me the man who becomes a CEO with no skill or experience. After all, you said it was all about who you know and not results, so show me the proof.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  8. #38
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by xpiher View Post
    Do you understand economics at all? The poor don't need to invest! They can spend all that money, the money will circulate 100x over and create demand 100x over. It will eventually reach people who know how to and want to invest, but prior to that commerce will increase! If a CEO makes 100million in a bonus and splits 50million of that between 10k workers, those 10k workers now have 5k more to spend and pay down debts. If that CEO only has 1k employees who are "poor" then those 1k employees now have 50k each!
    Ha, who doesn't understand economics? Companies don't expand and hire on profits. If they don't have capital they're not going to grow.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  9. #39
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by phattonez View Post
    Because it's not skill that determines how valuable you are. It's how much your skills are demanded.

    So again, show me the man who becomes a CEO with no skill or experience. After all, you said it was all about who you know and not results, so show me the proof.
    How people become CEOs:


    People become CEOs through a variety of reasons; many of which have little to do with competence in achieving organizational goals. Most CEOs are above average in intelligence, and conscientious in trying to do a good job. Yet, many could be stronger in the areas of governance, analytical skills, and ability to predict impending changes. Some come to the CEO job with psychological flaws or character weaknesses which can undermine their competence.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by Dittohead not! View Post
    Please, what is this all based on?

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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