"Things You Wouldn't Know If We Didn't Blog Intermittently."
11 December 2010
"Trickle-down" economics proven valid
Just ask Sotheby's, Manhattan jewelers, upscale restaurants...
The video presentation was created for RT, which I presume is Russia Today (not Radio Times of the BBC), so they may have an agenda. Of course, everyone has an "agenda" - the larger question is whether the information presented is incorrect in any way....
You realize that a free market has a specific immune response to insane CEO behavior, right?
The corporate raider specifically targets companies that are undervalued, usually because CEOs are engaging in this type of excess.
The raider buys the majority of stock, fires the leadership that are being overpaid, then gets the company back on it's feet. This makes the company more efficient and less top heavy.
Investors, employees, and the raider all make a profit, and CEO's are forced into check.
If our charming government hadn't crusaded against so-called "corporate raiders" (such as Michael Milken) we wouldn't be seeing this kind of behavior on such a huge scale.
I think that Walter Block has written a couple of papers on the topic, but no one listens. They'd rather watch "Wall Street" and get the wrong idea.
RT is Russia Today
ReplyDeleteTrickle DOWN?! Uh.... Let's not forget where this money comes from. Taxpayers, investors (retirement fund holders, bank customers, etc.)
ReplyDelete'Trickle down' is the economic language equivalent to magician's misdirection.
Eating GOLD sums it up for me. *EATING GOLD*... they might as well we wiping their asses with $100 bills.
ReplyDeleteYou realize that a free market has a specific immune response to insane CEO behavior, right?
ReplyDeleteThe corporate raider specifically targets companies that are undervalued, usually because CEOs are engaging in this type of excess.
The raider buys the majority of stock, fires the leadership that are being overpaid, then gets the company back on it's feet. This makes the company more efficient and less top heavy.
Investors, employees, and the raider all make a profit, and CEO's are forced into check.
If our charming government hadn't crusaded against so-called "corporate raiders" (such as Michael Milken) we wouldn't be seeing this kind of behavior on such a huge scale.
I think that Walter Block has written a couple of papers on the topic, but no one listens. They'd rather watch "Wall Street" and get the wrong idea.
Don't worry Stephen; if the Fed keeps screwing with the currency, we'll all be wiping our asses with C notes.
ReplyDelete