Morning Folks!!
Back in the 1970’s we saved one company. Chrysler. 30 years
later we still hail it as a great success and it was. But times were different
then. People actually took responsibility. Iacocca came in and turned things
around. Compare that to today. Who is running GM?? You can’t name the guy.
There is no “Point man.” No true responsibility. Ok now to the buring question. 'Rick, why are you writing
about politics?' The answer is an easy one. Many folks asked me the same
question last year when I started writing about the economy. I heard over and
over again, “What does the economy have to do with domain names?” To me that
was a pretty silly question but I was surprised so few saw the link back then. Any questions now?
First I expanded into general economic issues and how they would
affect us as people, not necessarily domainers. Most thought we were immune from the economic collapse. Now they know differently.
Then the government entered the business universe in an
unprecedented way we have really never seen before. At first we thought it may
be a good thing. Then we saw the strings come out and eventually the tangled
web that followed. We also saw a
total lack of controls and oversight. They gave away the money and THEN made
the rules. Not too smart. They were going to make sure there was no waste. I
guess the $18 million website shows more than all the words do.
Eventually the debate turns to taxes. If you are still in
fairy tale land let me explain how this all works. The government gives away
trillions and WE get to hold the bag.
We get to pay for the party. We get screwed. But you won’t see it today.
Hocus pocus wait 2 years.
Point is, time to pay attention. Forget about the arguments.
Does not matter who wins and who loses. It is your WALLET that they really want!
If they take all your money how much power do YOU have?? At what point does the
power shift? Again, it is a NUMBER not an ideology. Not a party affiliation. Not anything but a number.
Have a GREAT Day!
Rick Schwartz.
fedup
Nice post. Our”honourable” ex prime minister Brian Mulroney just admitted this year that he had over $200K in cash hidden in safety deposit boxes. The money was given to him by a business associate”Air Bus” scandal man Karlheinz Schreiber. Canadian officials just yesterday sent Schreiber back to Germany to get him out of the Canadian public’s eyes. CROOKS. As well we just bailed out GM and apparently the public funds went to fund private pensions!!! and 45 million in executive bonuses!!! WTF. Time to change this perverted system where all of the wrong people benefit from hardworking citizens efforts. The current government and corporate parasite system needs to be changed. imho
Best.
oh yeah and our tax department the Canadian Revenue Agency only taxed Mr. Mulroney on $110k of the tax he had hidden!!!!
Bruce Tedeschi
May want to read this article as well.http://domainmarketer.org/2009/08/03/is-the-economy-getting-better-sell-your-domains-now/. I wrote and will stand behind. If I am wrong, then I look like a fool. However, if I am right, then you win….
Morgan
Right on Rick! I really enjoy your posts about politics and agree with you 100%.
Many people forget that there is a whole world going on around them outside of Domaining.
I read every single post you write and can’t say there’s a single one I haven’t enjoyed and learned from!
Mert
Keep on writing on what ever you like Rick…
UFO
The absolute classic behind all this is while some banks were on their knees and the respective governments decided to weigh in (with debt swaps and equity infusions) people need to consider those other banks that now have made absolute windfall profits due to the incredibly low discount rate.
The low discount rate has transferred wealth from SAVERS to LENDERS. Or from prudent people to Banks.
There is no free lunch.
Savers should have made a killing for their prudence while credit was tight, and did they? No. The government flooded the market with funds and allowed the banks to profit, they wanted banks to profit to shore up their complete and utter mismanaged monetary policy.
You are likely to read what I am saying during the next month as reporters pick up the ball..
UFO
Ps: Yes, someone might say wealth has been transferred from savers to borrowers. But did the average householder mortgage get all that reduction in interest rate passed on? No?
Who made the difference?
Bet if analysis is done on Banks repective margins in mortgages have risen. Prudent Banks profited most from the crisis because the government gave them cheap credit that they ordinarily would have had to pay investors lots to access.
How can savers go through a credit crunch and receive 0% interest.
cheap domain name
Great post. good information.