Friday, November 23, 2012

Economist Robert Higg's Synopsis of Bush, Obama, Paulsen, Greenspan, Bernanke, Geithner, Etc.

"Private profit, public loss."

5 comments:

dmarks said...

Makes me think of Nancy Pelosi, a brave person who is always willing to sacrifice the public good for personal gain.

Les Carpenter said...

Private profit, the result of providing good paying jobs that advance the public good (as in middle class) would be very advantageous for all.

Don't ya think?

Will "take no prisoners" Hart said...

I probably should have flushed this out a little. I believe that Professor Higgs was referring to the bailouts of these big companies who, when the economy is flush, make exorbitant profits but who also get bailed out with taxpayer money during down times.......dmarks, yes, Pelosi is a perfect example of a politician doing as you say (Boehner, Frank, and Gingrich being a few of the others).......Absolutely, Les. If a business isn't making profit, jobs are simply not going to happen.

Les Carpenter said...

Having managed a 25 million dollar manufacturing plant and a 12 million dollar manufacture plant (numbers represent annual revenue) I am fully aware of the need to make profit. Profit is the bottom line motivation of every business. Of course the number of jobs created is determined by the requirement set by demand. Assuming of course the business is well managed to begin with.

We could have a long and detailed discussion on this subject. 36 years in this stuff has taught me a couple of things.

Will "take no prisoners" Hart said...

I would add that taxes and regulation would no doubt play a role as well, no?