President Obama and Apple CEO Steve Jobs

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    Posted: 24 October 2010 02:56 AM #61

    JDSoCal - 24 October 2010 05:52 AM

    What’s worse, is that isn’t even his dumbest comment:

    But when the economy has too much money tied up in finance, that?s a problem. Why should people work if they have a big fat bank account? And if people don?t work, you don?t have GDP, and you don?t have an economy. That excess money does nothing, and as far as the economy is concerned, it might as well not exist. It only has value when it?s spent - either on stuff or on jobs.

    Why should people work if they have a fat bank account? To pay their bills, and have money for their retirement? To increase their wealth?

    And money in the bank does nothing? Banks just hold it in vaults and do nothing with it?

    Unbelievable. To think I came to this board thinking there were economically smart people in here. It is astonishing how clueless some of the posters in here are. Money in the bank just sits there and does nothing. The Framers were not for limited government. WTF?

    I think I’ll stick to the likes of Deagol’s and Asymco’s blogs. This place is like sitting in an unventilated, freshly lead-painted room. I can feel myself getting dumber just being in here. Late.

    It does seem to get more toxic when you show up.

         
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    Posted: 24 October 2010 11:46 AM #62

    Agreeing with firestorm.

    The value of money depends on where it is spent.  Luxury items or frivolous items are different from food, shelter, healthcare, other safety items or infrastructure or scientific/technological research.  So, what about the money sitting in the bank ?  The bank sends it out somewhere.  Where ?  Its up to the bank. 

    So, comparatively speaking, money in the bank is just sitting there, as compared to direct investment in something.  The bank is taking their cut; the investor is doing no direct work with the money in the bank.

         
  • Posted: 24 October 2010 01:39 PM #63

    I stay out of the political forum here and just try to avoid them in general. It’s like religion to many, maybe worse.

    Shouldn’t this discussion be moved there?

    I want to continue to look here for items of interest about Apple.

    Anyway, just to be clear, here goes…

    I’m a CATO Libertarian. I am a strong believer that big government is the problem and not the solution. Government not only breeds corruption but is inefficient. Government is needed to keep order and the rule of law.

    The constitution was set up to create a government of checks and balances. The power of the Federal Government was to be limited to maintain State’s rights and individual liberty. I do not believe in the living constitution. The constitution has a means for change via amendments. I’m a strict adherent to the literal meaning of the constitution and do not want Federal judges creating new law or policy.

    I don’t like looney liberals even though I have many as friends smile

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    Posted: 24 October 2010 01:59 PM #64

    jeffi - 24 October 2010 04:39 PM

    I stay out of the political forum here and just try to avoid them in general. It’s like religion to many, maybe worse.

    Shouldn’t this discussion be moved there?

    I want to continue to look here for items of interest about Apple.

    Anyway, just to be clear, here goes…

    I’m a CATO Libertarian. I am a strong believer that big government is the problem and not the solution. Government not only breeds corruption but is inefficient. Government is needed to keep order and the rule of law.

    The constitution was set up to create a government of checks and balances. The power of the Federal Government was to be limited to maintain State’s rights and individual liberty. I do not believe in the living constitution. The constitution has a means for change via amendments. I’m a strict adherent to the literal meaning of the constitution and do not want Federal judges creating new law or policy.

    I don’t like looney liberals even though I have many as friends smile

    The words of the Constitution’s preamble that were quoted here clearly show a living document—and I don’t give a damn about the modern right wing interpretation of “what the Founders intended,” which is completely self-serving.

    I don’t like right wing nutjobs even though I have many as friends.

         
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    Posted: 24 October 2010 02:43 PM #65

    If anyone know what have transpired between President Obama and Steve Jobs, please post here.  Thank you.

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    Stay Hungry. Stay Foolish.  - Steve Jobs

         
  • Posted: 24 October 2010 07:22 PM #66

    firestorm - 24 October 2010 04:59 PM
    jeffi - 24 October 2010 04:39 PM

    I stay out of the political forum here and just try to avoid them in general. It’s like religion to many, maybe worse.

    Shouldn’t this discussion be moved there?

    I want to continue to look here for items of interest about Apple.

    Anyway, just to be clear, here goes…

    I’m a CATO Libertarian. I am a strong believer that big government is the problem and not the solution. Government not only breeds corruption but is inefficient. Government is needed to keep order and the rule of law.

    The constitution was set up to create a government of checks and balances. The power of the Federal Government was to be limited to maintain State’s rights and individual liberty. I do not believe in the living constitution. The constitution has a means for change via amendments. I’m a strict adherent to the literal meaning of the constitution and do not want Federal judges creating new law or policy.

    I don’t like looney liberals even though I have many as friends smile

    The words of the Constitution’s preamble that were quoted here clearly show a living document—and I don’t give a damn about the modern right wing interpretation of “what the Founders intended,” which is completely self-serving.

    I don’t like right wing nutjobs even though I have many as friends.

    I guess we’re friends smile

    Signature

    Inflation robs from the past, deflation robs from the future. Pick your poison.

         
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    Posted: 26 October 2010 11:58 AM #67

    Mace - 24 October 2010 05:43 PM

    If anyone know what have transpired between President Obama and Steve Jobs, please post here.  Thank you.

    LOL

    What everyone here appears to have missed is that the meeting was ostensibly about education, which Obama has rightfully pegged as a major problem. Certainly, a lot of the BS thrown around in this thread would be absent if people had a better education.

    So my take is that Obama is looking for ways to invigorate, motivate and accelerate the education system. Getting Apple, their ideas, software and hardware into the picture, could certainly go a long way towards making that happen. Seems like a win-win for Apple, the Gov’t, America (and AAPL shareholders).

    Being incredibly smart dudes with lots of other experience, ideas and assets at hand, I can imagine a lot of other fruitful (no pun intended) ideas being passed around. How to lead would be the last thing that these two would ever have discussed.

    Regarding the other ‘jobs’, its pretty evident that too many Americans value, above all, the american dream: becoming rich and not having to work. Grunt jobs on assembly lines are for schmucks. Thats why so many of us are reading this forum - looking for tips on what stocks to bet the next wad on. It seems the most coveted jobs these days are the ones that provide the biggest payoff for the least amount of sweat. What we do for our friends, neighbours, children, country doesn’t factor in as much as it used to.

         
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    Posted: 26 October 2010 12:33 PM #68

    macProf - 26 October 2010 02:58 PM
    Mace - 24 October 2010 05:43 PM

    If anyone know what have transpired between President Obama and Steve Jobs, please post here.  Thank you.

    LOL

    What everyone here appears to have missed is that the meeting was ostensibly about education, which Obama has rightfully pegged as a major problem. Certainly, a lot of the BS thrown around in this thread would be absent if people had a better education.

    So my take is that Obama is looking for ways to invigorate, motivate and accelerate the education system. Getting Apple, their ideas, software and hardware into the picture, could certainly go a long way towards making that happen. Seems like a win-win for Apple, the Gov’t, America (and AAPL shareholders).

    Being incredibly smart dudes with lots of other experience, ideas and assets at hand, I can imagine a lot of other fruitful (no pun intended) ideas being passed around. How to lead would be the last thing that these two would ever have discussed.

    Regarding the other ‘jobs’, its pretty evident that too many Americans value, above all, the american dream: becoming rich and not having to work. Grunt jobs on assembly lines are for schmucks. Thats why so many of us are reading this forum - looking for tips on what stocks to bet the next wad on. It seems the most coveted jobs these days are the ones that provide the biggest payoff for the least amount of sweat. What we do for our friends, neighbours, children, country doesn’t factor in as much as it used to.

    Really well stated, MacProf.  You will probably get replies that the rich work harder than everyone, but that has not been my experience.  In the Seattle area, enormous numbers of Microsoft millionaires and Amazon millionaires retired in their 30s and 40s, as soon as they got rich.  This took a lot of talent out of the workplace and out of the American economy.  I don’t begrudge their early retirement personally; I work in a creative job that I hope to do until I die, and I cannot imagine a retirement as boring as golf and trips to Las Vegas.  But I do resent being told time after time that the rich work harder than the rest of us.

         
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    Posted: 26 October 2010 05:25 PM #69

    firestorm - 26 October 2010 03:33 PM

    Really well stated, MacProf.  You will probably get replies that the rich work harder than everyone, but that has not been my experience.  In the Seattle area, enormous numbers of Microsoft millionaires and Amazon millionaires retired in their 30s and 40s, as soon as they got rich.  This took a lot of talent out of the workplace and out of the American economy.  I don’t begrudge their early retirement personally; I work in a creative job that I hope to do until I die, and I cannot imagine a retirement as boring as golf and trips to Las Vegas.  But I do resent being told time after time that the rich work harder than the rest of us.

    One thing you are not thinking about is the fact that when these people retired early they created openings for others to make their living. This is one of the little things between the left and right, the left wants to dictate a person’s life and on the right, we just want to do our own thing.

    How does one measure hard work? Personally, hard work to me is manual labor. I worked maintenance for 20 years with long hours. Dan is a mason, I won’t even begin to tell you how hard that work is. Working in the elements is just the tip of the ice berg. This is all a perspective thing FS. Until you walk in another person’s shoes you don’t know how hard their life is.

    What did these people take out of the economy? They pay their taxes and since they have means, buy goods and services at a higher rate than the average person. If anything they have expanded the economy.  :wink:

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    Posted: 26 October 2010 06:12 PM #70

    mbeauch - 26 October 2010 08:25 PM
    firestorm - 26 October 2010 03:33 PM

    Really well stated, MacProf.  You will probably get replies that the rich work harder than everyone, but that has not been my experience.  In the Seattle area, enormous numbers of Microsoft millionaires and Amazon millionaires retired in their 30s and 40s, as soon as they got rich.  This took a lot of talent out of the workplace and out of the American economy.  I don’t begrudge their early retirement personally; I work in a creative job that I hope to do until I die, and I cannot imagine a retirement as boring as golf and trips to Las Vegas.  But I do resent being told time after time that the rich work harder than the rest of us.

    One thing you are not thinking about is the fact that when these people retired early they created openings for others to make their living. This is one of the little things between the left and right, the left wants to dictate a person’s life and on the right, we just want to do our own thing.

    How does one measure hard work? Personally, hard work to me is manual labor. I worked maintenance for 20 years with long hours. Dan is a mason, I won’t even begin to tell you how hard that work is. Working in the elements is just the tip of the ice berg. This is all a perspective thing FS. Until you walk in another person’s shoes you don’t know how hard their life is.

    What did these people take out of the economy? They pay their taxes and since they have means, buy goods and services at a higher rate than the average person. If anything they have expanded the economy.  :wink:

    To me the greatest satisfaction I can imagine at the end of my life is to have done something that has helped better mankind and made others happier, the more the better. Making lots of money and then sitting around spending it in miserly self-directed pleasure wouldn’t cut it when I’m sitting on my deathbed wondering what my time on earth was all about. In general, it seems to me that the happiest people are those that have less material wealth, but lots of great family, friends and vehicles for interacting with and helping others.

    I’m not sure what maintenance work entails, but apparently its hard work. I know masonry is definitely tough and hard work. I suspect that and the creative aspects of it are quite rewarding. Good on you guys. You are producing products with real value and longevity. I’m not sure I’d say the same about people who make their money off of others with little provided in return.

    [ Edited: 26 October 2010 06:14 PM by macProf ]      
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    Posted: 26 October 2010 08:44 PM #71

    macProf - 26 October 2010 09:12 PM

    I’m not sure what maintenance work entails, but apparently its hard work. I know masonry is definitely tough and hard work. I suspect that and the creative aspects of it are quite rewarding. Good on you guys. You are producing products with real value and longevity. I’m not sure I’d say the same about people who make their money off of others with little provided in return.


    “Let them eat cake!”

     

    :apple:

         
  • Posted: 26 October 2010 08:46 PM #72

    May there always be work for your hands to do.
    May your purse always hold a coin or two.
    May the sun always shine on your windowpane.
    May a rainbow be certain to follow each rain.
    May the hand of a friend always be near you.
    May God fill your heart with gladness to cheer you.