Wit, Wisdom, and Sheer Balderdash in Approximately Equal Measure from Prof. Oates
10 October 2009
Can You Spell "H-y-p-o-c-r-i-s-y"? 2009-07-13
Baby Steps 2009-07-13
Kingston Trio: Desert Pete 2009-06-12
Chorus:
You've got to prime the pump. You must have faith and believe.
Drink all the water you can hold. Wash your face cool your feet.
Yeah, you'll have to prime the pump, work that handle like there's a fire [pronounced "fahr" in Texan].
You've got to prime the pump. You must have faith and believe.
Drink all the water you can hold. Wash your face cool your feet.
So I poured in the jar and started pumpin' and I heard a beautiful sound
You've got to prime the pump. You must have faith and believe.
Drink all the water you can hold. Wash your face cool your feet.
Congratulations Indiana Financials ... 2009-06-09
9 June 2009
Norman, Oklahoma, USA
| Grandpa/Prof. Oates Chuck Oates |
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| Grandpa/Prof. Oates Chuck Oates |
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| Grandpa/Prof. Oates Chuck Oates |
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| Grandpa/Prof. Oates Chuck Oates | |||
| Grandpa/Prof. Oates Chuck Oates |
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Business Failure: It's a GOOD Thing 2009-03-19
CLOates
19 March 2009
Revised: 25 March 2009
Norman, Oklahoma, USA
Business Failure: It's a GOOD Thing
Over the last several years we've been treated to the spectacle of financiers inventing new ways to enrich themselves, while building a house of cards that finally came down in a heap last fall. This IS what people of high intelligence and low wisdom do. There are inevitably going to be some of those in the mix. In times long since past, the result of such behavior was that the perpetrators went bankrupt and were subsequently put to work cleaning out the stalls of barnyard animals, a task much more appropriate to their combination abilities and character.
In the past few decades, though, organizations have grown larger and larger to the point that when the inevitable consequences of the misdeeds of some of them come home to roost, we're faced with either 1) letting them fail and likely bringing down another Great Depression on our own heads or 2) propping them up with hundreds of billions (that's billions with a 'b') of dollars of public debt, borrowed principally from China and the oil-rich nations of the Middle East. The name of this game is "Profits Shared by the Few, Losses Paid for by the Many" (of this and future generations, all on borrowed money!), also known as socialism for the 2% and the rough and tumble free market for the rest. Big business needs the same treatment any of us would receive if we behaved irresponsibly. While individual human beings are usually worth some public effort to save, the artificial creations of corporate law should exist based only on their merits.
Thought: let's do what we can to ensure (that's with an 'e') that we don't get into this unienviable position again. There are several possibilities. One is to somehow prevent organizations from becoming so large that the failure of any one of them threatens the U.S. (and possibly the world's) economy. For U.S. corporations and creations of the U.S. Federal Government like Freddie Mac and Fannie Mae, this may be possible with something akin to the size limitations in the U.S. anti-trust laws. For most organizations, though, the ability to internationalize thwarts the ability of any one country's government to control their size and influence. Countries can regulate the operations of international organizations within their own borders, and to the extent that this can prevent their becoming "too large to fail," regulations should be put in place. The object of such regulation should be to permit the economies of scale which are necessary for efficient operation, but to prevent expansion to the point that failure leads to government bail-outs, as has been our recent fate.
A second possibility is to reglate businesses that become "too large to fail," in much the same ways that permitted monopolies such as public utilities are regulated. This alternative may have to be invoked, given the difficulty of size limitation, but it certainly has a checkered history. Those of you who are old enough to remember paying $0.40 or more per minute (in 1960s money, too) to a regulated(?) telephone company for Texas in-state long distance phone calls will appreciate how able the regulated monopolies are to influence their supposed regulators.
For very large international organizations, the ability to play countries off against one another, very much in the same way that large U.S. corporations play off U.S. states against one another for legislative concessions on taxation and paying for environmental damage, is difficult to mitigate. There is no international body capable of such regulation, and for the moment we seem to be in the same fix as were our forbearers in the age of the Robber Barrons.
For the present, perhaps we should concentrate on putting our own house in order, since U.S. home-grown corporations and particularly the failure of the U.S. Federal Government to appropriately regulate the financial activites of some of these corporations, seem to be responsible for most, if not all, of the current mess.
Whatever we do, it must ensure that businesses that behave irresponsibly (and there will ALWAYS be some that do) are put out of their misery by bankruptcy, not rewarded for their irresponsibility. The theory, as I recall it, is that failing businesses will be replaced by businesses that make a profit by serving the needs of their customers, and not continued in their failures by citizen-funded bailouts and (to add insult to injury) bonuses for the people who caused the companies to fail.
In the mean time, enjoy your and your childrens' multi-thousand dollar per person share of the debt "trickle-down"!
Prof. Oates
Afterthought: perhpas a revision of the bankruptcy laws is in order. It's possible that too-big-to-fail businesses could be effectively and relatively "bumplessly" ushered into operation in receivership and subsequently broken up and sold to more efficient and effective operators. Without some similar mechanism, how will influential, but non-adapting dinosaurs like GM ever be put on a straight course? --CLO
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comment:
Grandpa/Prof. Oates
A Modest Proposal 2008-03-18
18 March 2008
Norman, OK, USA
While the esteemed Legislators admittedly could use some instruction about bowing down to graven images (the insurance companies and the graven images on the greenback dollars of their campaign contributions come to mind), the Legislators' actions indicate an urgent need for a basic understanding of the principles espoused by the Teacher most of them purport to follow. Consider the text below.
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The Beatitudes [from www.biblegateway.com]
Matthew 5:2-10 (New International Version)
2 and he began to teach them saying:
3 "Blessed are the poor in spirit,
for theirs is the kingdom of heaven.
4 Blessed are those who mourn,
for they will be comforted.
5 Blessed are the meek,
for they will inherit the earth.
6 Blessed are those who hunger and thirst for righteousness,
for they will be filled.
7 Blessed are the merciful,
for they will be shown mercy.
8 Blessed are the pure in heart,
for they will see God.
9 Blessed are the peacemakers,
for they will be called sons of God.
10 Blessed are those who are persecuted because of righteousness,
for theirs is the kingdom of heaven.
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Has anyone seen anything resembling the above in the hallowed halls of the Oklahoma Legislature lately?
'Nuf said.
--Prof. Oates
Other References
1) The Ten Commandments
See http://www.biblegateway.com/passage/?book_id=5&chapter=5&version=31&context=chapter .
2) HB 1330 status [from http://okc.about.com/od/statecapital/a/2009legislative.htm ]
Bill: House Bill 1330
Author: Rep. Mike Ritze (R-Broken Arrow)
Purpose: If passed, this measure would allow for construction of a monument with the Ten Commandments on state Capitol grounds.
Status: Passed House, Goes to Senate
| Grandpa/Prof. Oates Chuck Oates |
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Shameful Autism Vote 2009-02-06
Chuck Oates
6 February 2009
Norman, Oklahoma
Redneckistan, USA
Shameful Autism Vote
The Oklahoma House has shamed the state. A House committee vote has killed Nick's Law for at least two years and left the INSURED parents of autistic kids to bear the full cost of their kids' treatment themselves. <
Ron Black has described it better than I can in his Wednesday, February 4 article. Read it and weep.
http://www.ronblackradio.com/t18-home:-daily-rant
The only imaginable good news is that, over the long term, hypocrisy and wrongdoing of this magnitude seldom escape revision followed by retribution.
Pray for the perpetrators of this deed. They'll need all the help they can get when the consequences of their action come home to roost.
In disgust,
Prof. Oates
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comments:
Chasity
Laurie
If anyone reading this would like to help - call your State Senator, House Rep, and ask them to join the fight for our kids with Autism. They may say the bill is "dead", but rules can be changed, options are still available. If they happen to be Republican, ask them if they dare be the first Oklahoma Republican to stand up on the floor during a session and fight for our kids. As far as I know, so far there has not been one willing to going against Republican leadership. Shameful.