Monday, November 21, 2011

Bill Gross Has Lost Faith In the American Political System

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Subject: "Bond King" Bill Gross Has Lost Faith In the American Political System
Date: Mon, 21 Nov 2011 06:23:44 -0800
From: Jas Jain

"Bond King" Bill Gross Has Lost Faith In the American Political System

He also said that he is disillusioned and disenchanted with the political system that is controlled by corporate interests and finance interests! Talk about an intellectually dishonest born-and-bred American dope. He is a financier and he is corporate.

You want to know how bad and mentally retarded he is? He said that he is a registered Republican who voted for Obama. And he was inspired by Oprah to vote for Obama to bring CHANGE! Please remember that when I use the term born-and-bred American dopes that is my attempt at politeness. We are dealing with morons who can't come to terms with glaring contradiction of love for democracy and voting and hate for politicians. We are also dealing here with psychologically messed up population because of the oppressive climate of political correctness. My guess is that 10-20% of white Christians who voted for Obama in 2008 did out of some guilt feelings. I also think that the ring-wing white Christians who were supporting Herman Cain two weeks ago did it out of these guilt feeling of not being branded a racist. What does voting for Obama or supporting Cain has to do with being a racist or not? Obama was the least experienced politician to get elected President and Cain has no experience. Both are stooges of rich white guys without whose support these guys would be unheard of. The system is controlled and directed by top 0.01% and Bill Gross is very much part of that elite.

When asked, Mr. Gross said that he would not vote for either party. At least he has learned something compared to partisan, addicted to voting, dopes. Dishonesty of partisan dopes can no longer be in doubt.

The American econo-political system will collapse before 2030, but it could happen over the next ten years.

Jas

Nov. 18 Valuation Ratios For Japan, USA, Europe and Asia - (Plus PB. EV, ROE, Dividend Yield)

Nov. 11 PIIGS 10-year government bond spread versus the German Bund
Oct 26 Mark Faber - "Gloom. Boom and Doom Report" Current Advice & S&P500 Trading Range
Oct 17 Government Debt as a Percentage of GDP by Country
Aug 8: List of Standard & Poors AAA Rated Companies
July 10: British Airways 100,000 Free Miles Offer
May 5  Highest Paid CEOs in 2010 


Sunday, November 13, 2011

Scottish Enlightenment and Moral Philosophy--Selfishness and Self Interest For Adam Smith


-------- Original Message --------
Subject: Scottish Enlightenment and Moral Philosophy--Selfishness and Self Interest For Adam Smith
Date: Sun, 13 Nov 2011 09:22:54 -0800
From: Jas Jain


Scottish Enlightenment and Moral Philosophy

See the appended article with quotes from two of the best-known Scottish philosophers (practical thinkers and moral philosophers), David Hume and Adam Smith. The third great practical thinker was Adam Ferguson with Francis Hutcheson being their mentor. The best insight from Hume that I like is: Reason is slave to passions. Later German philosophers, Kant, Hegel, etc., were greatly influenced by David Hume's philosophy. Needless to say, Scottish philosophers' influence in England and North America in the second half of the eighteenth century was great. Apart from the ideas of Adam Smith, the Scottish thinkers who watched the success of commerce, in Glasgow, firsthand, provided justification and support for a nation and an empire based on commerce. They saw that the great men of commerce and industry were interested in lot more than money, e.g., knowledge. These men also recognized the value of inventions in not only making more money but also for general social progress.

BTW, Scots founded Princeton and got a topnotch Scottish educator to come and run it. Hamilton (Scottish father), Jefferson and Madison were taught by Scottish teachers. For a period, Scots produced the best teachers, inside and outside of Scotland. But for Scots there would be no British Empire or the American Empire. Scots played important role in Australia, Canada, Hong Kong and India (during the British Empire).

Jas

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http://adamsmithslostlegacy.blogspot.com/2011/11/difference-between-selfishness-and-self.html

Friday, November 11, 2011

Difference Between Selfishness and Self Interest For Adam Smith

Getty Lustila, Georgia State University, writes (6 November) in The Partially Examined Life Blog HERE:

"
David Hume and Adam Smith in the Context of Eighteenth-Century Moral Philosophy, Part 1"

"Moral philosophy in the eighteenth century was principally concerned with three issues. First, was "the selfish hypothesis," which maintained that all declarations of public interest were ultimately expressions of private interest. Second, was the explanation and justification of moral judgment. And third, was the character of moral virtue.

The selfish hypothesis, though largely a minority view, was defended equally by Thomas Hobbes, Bernard Mandeville. The mechanists considered man to be a machine, one whose parts functioned "every bit as naturally as the movements of a clock or other automaton follows from the arrangement of its counter-weights and wheels." (Descartes, Treatise of Man, 108; Mandeville, The Fable of the Bees: And Other Writings, 36) Man's principal commitment to his own self-love undercuts genuine other-regarding action and stymies the opportunity for moral virtue.

David Hume and Adam Smith repudiated this thesis. Hume referred to the self hypothesis as one that proceeded from "nothing but the most depraved disposition." (An Enquiry Concerning the Principles of Morals, 247) For Hume, the fact that a good amount of people act selfishly a good amount of the time fails to ground the claim that such people always acted selfishly (much less the charge that all mankind act in this way!) Man's selfishness admits of degrees, something that is obvious to our "common sense and our most unprejudiced notions." (An Enquiry Concerning the Principles of Morals, 250) In Hume's estimation, only philosophers—with their love of simplicity in principle—could affirm such an absurd view of human nature as the selfish hypothesis. Likewise, Smith claimed that "how selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him." (The Theory of Moral Sentiments (Penguin Classics), 1) For Smith, all human beings are naturally 'in-tune' with one another through the faculty of sympathy; which, acting as a mirror for others, allows us to take part in their suffering and joy. The ability to sympathize with our fellows is not a virtue (in the traditional sense). Instead, the faculty of sympathy is a constitutive part of human agency: devoid of sympathy, we are not human. Smith and Hume recognize that sympathy is most naturally felt for our family and friends. Nonetheless, they equally affirm that man's moral sense has developed and expanded through the progress of history; a process that will continue to be realized through his continual interaction with the others, the world, and himself
."

Comment
This is a neat summary of some complex philosophy developed in the 18th century and I am happy to commend Getty Lustila's article as a good first step to reading the texts that she mentions.

The difference between 'selfishness' and Hume–Smithian 'self interest is mostly misunderstood by those who fall into conflating Smith's meaning of these words and not just in the modern invention of the IH metaphor, when attributed to Adam Smith (i.e., that selfish actions 'miraculously' generate 'public good' – which is pure Bernard Mandeville, and Ayn Rand) but also in the misreading of the famous 'butcher, brewer, baker' quotation from WN (Book I.ii: 26-7), often commented upon on Lost Legacy.

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http://en.wikipedia.org/wiki/Scottish_Enlightenment

 

From Wiki:

"Among the fields that rapidly advanced were philosophy, political economy, engineering, architecture, medicine, geology, archaeology, law, agriculture, chemistry and sociology. Among the Scottish thinkers and scientists of the period were Francis Hutcheson, Alexander Campbell, David Hume, Adam Smith, Thomas Reid, Robert Burns, Adam Ferguson, John Playfair, Joseph Black and James Hutton.
"The Scottish Enlightenment had effects far beyond Scotland itself, not only because of the esteem in which Scottish achievements were held in Europe and elsewhere, but also because its ideas and attitudes were carried across the Atlantic world as part of the Scottish diaspora, and by American students who studied in Scotland. As a result, a significant proportion of technological and social development in the United States, Canada and New Zealand in the 18th and 19th centuries were accomplished through Scots-Americans and Scots-Canadians."


Friday, November 4, 2011

CNBC Bonus Bucks Answers for Friday, November 4, 2011

Daily Answers
for
  11/4/2011

Question #1. Which of the following is NOT one of the “10 Biggest Mistakes Made by Small Business Owners?”

Answer 1:       A. Relying too much on friends and family

Question #2. According to Matthew Kidman, Author of Bulls, Bears & A Croupier, the Dow Jones Industrial Index will reach what level in 20 years?


Answer 2D. 100,000

Question #3 BT, the UK telecom giant that reported quarterly financial results on Thursday, has seen its shares rise more than 100 percent since it began a turnaround. When did it begin that turnaround?





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