by the Left Coast Rebel
In addition to being a quasi-marxist rag, (outdone only by Newsweek), the cover above cements my opinion of the ‘news’ periodical. I kid you not that this is an actual cover, just arrived in my mailbox. I am unfortunate enough to receive Time, being that it was gifted to me from a friend that should know better.
Do the contents even need to be discussed by me? Or should I point you to the other 1,133 reasons for my disgust.
I have a nest-egg, investments and a brother that works in the financial sector. I love capitalism and Wall Street. I love compound interest, commerce and trade; I love liberty, free and open markets and the upward mobility that they provide for those that start with nothing.
I hate the fact that the press, intelligentsia, pols and Ivory Tower Academics chastise capitalism and free markets when the ills that we face lie at the feet of an opposite: Corporatism.
7 comments:
I was disgusted by the cover as well. It went straight into the outside trash can. Didn't even cross the threshold of my house. I get many odd magazines sent for free because of my profession. Few I read. Time is not worth my time.
@ Opus – Funny that you would say that, I'm sitting at the desk here and the Time mag is in the office trash can right next to me, LOL. Great minds think alike.
I don't know about great minds always thinking alike, LCR. I don't even bother to subscribe.
Here's an environmental perspective: Save a tree, cancel a Time Magazine subscription.
@ Bob – Now that is an environmental cause that I can stand by.
Time is to print periodicals what Jerry Springer is to television journalism. It doesn't even rise to the level of partisan entertainment. Its just degenerate fantasy parading as serious thought…with a shiny cover.
I have nothing against the finance industry gathering capital for profitable business ideas using instruments of debt and equity (i.e underwriting bonds and stocks). A big part of the finance industry, however, is consumer debt and business debt signed-for personally, which IMHO are terrible ideas. We don’t notice how terrible it is b/c its influence has increased slowly. (It’s a free country, so they should be free to offer it. I’m just recommending people not buy this product.)
I am against either arm being bailed out with government money. That’s how this article begins. When you take government money, you have to accept government intrusion into how you do business. This is a good reason for any organization, churches, families, businesses, etc, not to take government money.
I honestly don’t know whether financial companies’ compensation schemes are just paying the market price for talent or the result of corrupt interlocking compensation committees. If the government did not give them money, we would not have to care. The gov't did give them money and now we have to have a national debate about something that should be confined to the companies' shareholders and boards of directors. Frustrating.
@ CJ – This entire affair is maddeningly frustrating. As you say here, the bailout mania is a good example of why churches, families, biz, etc should be leery of gov't money. There will always be strings attached.
The bailout culture is destroying our free market. It is Obama's now and was GW's before.
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