IT'S TALENT DIVERSITY AND NOT INCOME INEQUALITY

The world has those of good and those of evil. The facts are the same for both. 

What you weigh as worthy of you gives to you your perspective. To look at the world seeing but evil is the art of pessimism. To throw evil into the background is the art of optimism.

To see income inequality is to live as the pemissist. To believe others tell you that income inequality is evil is to fall a trick of those who are in evil themselves.

Rightly, there is talent diversity and it is from talent diversity that income inferiority arises. 

As I have spelled out before, there is no such thing as income inequality.

Talent is will one has to trade the skills one has for cash and credit in a purchase and sale. 

Most never discover their talent and by that all should understand that most never discover the skills they have nor the skills they could get, which they would be gung-ho willing to trade for cash and credit.

All recognize the talents of Robert Downey, Jr., Hugh Jackman, Lady Gaga, Justin Bieber, Taylor Swift . Almost no one questions why these talented entertainers should earn $75 million (Downey), $55 million (Jackman), $80 million (Gaga), $58 Million (Bieber), $55 million (Swift) [see Forbes here and Forbes here ]. 

Yet when the shareholders of the firms that hire the likes of Downey, Jackman, Gaga, Bieber and Swift, earn millions, most decry such as evil capitalists.

If you lack talent and if you believe that talent is born, then you need only look to the genetics of your parents. If you are lacking talent, then it's your parents' fault, your grandparents' fault, their parents before them and thus all of your ancestry.

If you lack talent and you do not believe that talent is born but rather comes from focused effort, then you need only look to yourself. You alone are to blame for your income inferiority.

If you have what you believe is talent but few are willing to bid high enough to buy your talent in a purchase and sale, you can delude yourself and blame everyone in society of property, which is the only society that strangers can form, for failing to see and appraise your talent according to your self-deluded fantasy.

Or, you can (wo)man up, stop having a sook, and set yourself to work acquiring talent that others are willing to buy at high prices in purchases and sales. 

However, if you agitate in a mob to have income inequality turned into an equality by force, leveraging government for one's friends and oneself at the expense of others, you become a teeny tyrant, differing only by degree but not by kind from Leopold II, Hitler, Mao, Stalin, and Pol Pot.

It's immoral to force people to comply for whatever the cause, no matter how noble sounding. 

For more on the Religion of Inequality preached in the false churches everywhere, read other fine articles right here on Bizarro Theater.

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THE UNREALITY OF SAVINGS, INCOME INEQUALITY AND ECONOMICS

Recently, I came across an interesting piece about academic Michael Pettis, which exposed Pettis' false beliefs about savings and income inequality. Pettis spews gobbly-gook. There is no such thing as savings. There is no such thing as income inequality.

Savings is mere rhetoric. People don't put savings in a savings bank or any other kind of bank. Depositors buy bank credits and sell cash, other bank credits or debt in property trades each known as a purchase and sale. 

In a purchase and sale, selling cash or perhaps other bank credits and buying an interest-bearing account, a bank customer becomes a capitalist who buys a share of future bank profits, which gets called interest. It's mere deceptive rhetoric to call such a capitalist "a saver" or one "who has savings" even when the bank customer capitalist is a wage earner. 

Depositors get deposits as evidence of their right of action against bankers when in a purchase and sale, selling their cash, other bank credits or debt. Bankers become owners of said cash, bank credits from other bankers and debt bought in a purchase and sale from depositors. 

Bankers and other capitalists deal in property with confidence in forthcoming profits, transmuting property that lacks saleability into property that does, enabling the adventurer-entrepreneur to transmute property as capital of production into property as wealth for trade. 

There is no such thing as "savings." There is only profit and loss. 

People work to get profits. People don't work and produce to make savings. To believe that people work for savings rather than profits is to reject reality. 

Anyone produces property in hopes of the gain of profit in a purchase and sale. Property always means the right of ownership and never what is owned. 

People trade property in stuff because before people can enjoy stuff, they must own it. People pursue profits to buy chattel, services and rights of action. Without profits there can be no purchase of another thing. Cash and bank credits are means to ends. 
  
Profits provide buying power because people seek buying power to buy the things they want from the surpluses they produce owing to efficiency. Otherwise, people would live at bare subsistence content to make little of a few things they need to survive. Under such a state, trade would not exist, nor would credit.  

People trade their property in chattel, services and rights of action (credit). People don't trade biens (goods) as the Physiocrats called them nor do they trade utilities as the Mill from Bentham utilitarians called them. 

Pettis errs again when he claims income inquality exists and is causal for anything. Income inquality does not exist and thus cannot be causal.

In THERE IS NO SUCH THING AS INCOME INEQUALITY, I use Robert Downey, Jr., to reveal that truth. If someone earns more than another, that is so because those paying for the one earning more pay higher bids than those who pay others less. 

Comparing the wages between a brain surgeon and a fast-food drive-thru cashier is deceptive, false comparison.

In both BUT IT IS FOR INEQUALITY! AT WHAT POINT DO PEOPLE STOP EXPONENTIALLY DOUBLING DOWN ON STUPIDITY?, and SPREADING WEALTH, INCOME INEQUALITY AND OTHER MANURE, I reveal crony politics keeps people poor through minimun wage and welfare subsidy and how it is impossible to spread wealth. 

Whether as individuals or in tandem for a firm, people work to get profits. And to get those profits, people work to make property in surplus. 

In trade, all get governed by infrangible, inescapable law of trade, the Law of Prices. All get constrained by the Axiom of Profit. The Law of Prices holds the winning bids of purchase and sale in the face of what is on offer set the price. The Axiom of Profit holds the sum of sales must at least equal the cost of production, otherwise the producer goes to run.

For workers, profit gets measured by the difference of wages less living expenses. For firms, profits gets measured by the difference of sales less outlays. For a given productivity of property made at surplus, if living expenses and outlays rise faster than wages and outlays, profit falls.

If living expenses rise above wages, workers live at loss. If outlays rise above sales, firms operate at loss. 

Prices have been rising owing to reckless cash accretion and reckless cash accretion has arisen owing to quantitative easing. 

Since cash are bank credits circulating in perpetuity, with cash anyone only can pay taxes, buy goods or buy bank credits. Residual bank credits become reserve against more bank credits traded in a purchase and sale. 

When bank credits grow faster than output, prices rise. Individuals caught in such a profit squeeze cannot buy vacations in the Bahamas, music lessons, dinners eaten at upscale restaurants, tailored suits and so on.

In YOU LIVE AT THE MERCY OF A CLOWN-CAR DRIVEN BY MEN AND WOMEN OF THE FEDERAL RESERVE, I reveal how those at the Federal Reserve continue to err because they believe in economics rather than trade. 

Pettis is quite wrong when he babbles that there can be excess thrift as well as insufficient thrift. That is akin to saying there can be degrees of prosperity. 

Pettis fails to understand what thrift means, conflating thrift with savings. In THE WEALTHY PEOPLE EFFECT AND WHAT IT TRULY SHOULD MEAN TO YOU, I explain the word thrift as a Middle English word from about 1300 meaning "thriving, prosperity" and comes from the Old Norse meaning the same. 

In prosperity, anyone who wants to work can find work. Profit abounds. Wages increase faster than living expenses. Sales increase faster than outlays. The creation of property grows at an increasing rate.

Pettis errs again when he quotes Eccles who spews silliness about distribution. 

The whole mythology of production and distribution comes from the Physiocrats and their effort to support false claims that only farmers and the land produces while all other classes are unproductive and thus should be the ones upon whom taxes should be borne.

It's no wonder why Pettis doesn't get reality. Pettis parrots much of what gets taught by academicians and their economics mythology. Academia economics mythology fails to comport to reality. 

Academia economics, regardless of neoclassical school, fails to deal with the phenomena of trade — property and profits. Instead, academia economics focuses upon utility and scarcity, both of which have nothing to do with commerce, which is also called trade.

Trade, which is the purchase and sale of property as wealth made from property put to production, which is capital, to produce property in surplus, is the only reality. 

Here are three more must-reads on Bizarro Theater to help you disabuse yourselves from the unreality of economics and income inequality:

1. GREEDY CAPITALIST COMPLAINS ABOUT UNEMPLOYMENT INSURANCE EXPENSE AND QUITS HIS BUSINESS
2. WILE E. COYOTE, CAMPGROUND BUSINESSMAN SUPER GENIUS
3. LIVING IN THE AGE OF IDIOCRACY

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OBAMA'S INCOME INEQUALITY SCARE STORY EXPOSED

Mark J. Perry, full professor of economics University of Michigan, Flint, shared a smart piece on Seeking Alpha (account needed) today on income inequality. I've written about income inquality before.

In short, the phrase income inquality makes for great political rhetoric precisely because almost all have an innate sense of 50-50 fairness. That said, income inequality is a bogus concept.

Anyway, Mark Perry shared this table which pulls back the curtain from all that hot air political rhetoric.



What jumps out is 63% of households in the poorest fifth of America do not work. Well, it should be clear that with work comes income.

As can be seen, Americans become (moving toward the highest fifth), richer when they work. The richest households are those where almost everyone in the household works.

As one moves toward richer households, one finds households consisting mostly of marrieds who are middle age with at least a bachelor's degree.

Of course, when guys like Obama take to the podium decrying income inequality, they fail to talk about the effects of rampant immigration upon working age population. Also, guys like Obama fail to talk about how much welfare those in the lowest fifth receive.

To see the effects of immigration on wages, read YET ANOTHER EMPEROR'S NEW CLOTHES JOBS REPORT DURING THE GREATEST DEPRESSION OF ALL-TIME and SOPHIE'S CHOICE OF CAPITAL OR LABOR. A FREE-MARKETS LIBERTARIAN BECOMES AN ANTI-CAPITALIST AND PERPETUATES AN ECONOMICS MYTH.

Also, Obama fails to mention that GDP has not grown during his presidency, but in fact has fallen almost every quarter save a couple way back in late 2009 and early 2010. To see this, read THE SECRETS OF AUTOMATED CLEARINGS, GDP AND THE ECONOMY. RECOVERY? WHEN?

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WHEN IT COMES TO POVERTY, STUPIDLY, BILL GATES REVEALS HIS IMPOVERISHED BELIEFS.

Watch Bill Gates expose his stupidity before the world in this quickie interview given to Bloomberg TV.





Gates commits the fallacy of assuming the point when he claims, falsely, that "everyone believes in ... progressive taxation."

Calling something progressive is a rhetorical trick designed to deceive. After all, who could be opposed to something that suggests advancing? It's an idea borne from the Progressive Era with its adherents believing in a neo-socialism.

Rightly, it should be called exponential rate taxation.

Gates blathers the canard of public education and public medicine as the saviors of those impoverished. Never in the history of mankind has either eliminated poverty.

If Medicaid (Congress pays the bills for the poor) eliminates poverty, then why are there more Americans in poverty by head count than in anytime in the history of the USA?

Almost every year, there is record true public spending on education. If education were key, why has poverty never been eliminated?

Gates might be a mega billionaire from selling second-rate software through shoddy business practices, but that doesn't mean Gates is smart about everything. Gates is so stupid on the subject of poverty that he doesn't know 63% of households in the poorest fifth of America do not work.

It should be clear that with work comes income. Relying on meager welfare as income isn't going to lift anyone from poverty.

If members of Congress were serious about reducing poverty, they would 1) restrict immigration; 2) eliminate income taxation; 3) tax sales of extant property (right of ownership) at much higher rates than the sales of new property, whether as capital or as wealth.

As I showed you in SOPHIE'S CHOICE OF CAPITAL OR LABOR. A FREE-MARKETS LIBERTARIAN BECOMES AN ANTI-CAPITALIST AND PERPETUATES AN ECONOMICS MYTH, 1) wages arise from capital, 2) when there is an abundance of labor, there is little need for capital and thus wages are low.

Heed my dictum. Labor makes property. Capital makes property efficiently. 

Entrepreneur-adventurers only can use capital under increasing returns.  The permanent use of capital arises only under increasing returns whereby application of capital yields a proportional increase in output.

Without capital, there is little reason to organize workers. Without capital, everyone lives at bare subsistence.

And yet, here is Bill Gates, a supposed genius, advocating for Americans to erode their property through progressive taxation. Had Gates only read CAPITALISM. BECAUSE WITHOUT IT, YOU WOULD BE LIVING AS A BARE SUBSISTENCE SAVAGE, Gates might learn something about poverty and capitalism.

Wrongly, Gates believes that vaccinating every African child will miraculously lift Africans from poverty. The fix for African poverty does not lie in vaccines. Africans need what has lifted everyone else from poverty during the history of mankind:

• potable water and sewerage to inhibit most communicable diseases
• a futures market for food stuffs to insure a steady supply of food
• property, which is the individual's right of ownership
• putting property to purpose as capital under efficiency to produce wanted surplus for trade in purchases and sales as wealth

Gates suffers from the disease of the meddler and the delusion of being right merely because he became rich through capitalism.  It seems as if Gates has not done any serious investigating and thinking about reality. Instead, merely by being rich, Gates wants to impose his false beliefs upon the rest of mankind.

Gates yields for us a perfect example of the source of suffering among mankind. To the marrow, the cause of suffering arises from these:

• a desire for others to live to one's beliefs
• doing something about it

It matters not the scale, whether politicians despising the leaders of another country and amassing armies to do something about it or the squabbling of a husband and wife because one insists the other live according to the way he or she demands.

Disabuse yourselves from the foolishness of Bill Gates by reading many works on the subject right here on Bizarro Theater:

• POVERTY AND ENVY
• IT'S TALENT DIVERSITY AND NOT INCOME INEQUALITY
• THERE IS NO SUCH THING AS INCOME INEQUALITY
• OBAMA'S INCOME INEQUALITY SCARE STORY EXPOSED
• SPREADING WEALTH, INCOME INEQUALITY AND OTHER MANURE

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SPREADING WEALTH, INCOME INEQUALITY AND OTHER MANURE

1. It’s impossible to “spread wealth.”

Wealth is an instantaneous quality of something that arises during exchange and disappears as soon as exchange happens. Let’s say a retailer has a bicycle for sale and you have cash. When you sell your cash and buy the bicycle while simultaneously the retailer sells the bicycle and buys your cash, the bicycle becomes wealth.

As soon as you gain property (right of ownership) in the bicycle, the bicycle no longer is wealth. At most, the bicycle represents potential wealth.

Let’s say years pass. You have tired of riding your bicycle so you decide to sell it. Months pass, yet no one comes to buy your bicycle. Thus, your bicycle is not wealth. It lacks buying power. It’s worthless.

2. The phrase “income inequality” is a phrase of rhetoric. It labels a false concept that does not exist. Those who speak of it make appeals to others through jealousy.

Income means wages through time. Someone buys wages by selling skills through time. Any wage is a price. All prices arise from the great, infrangible, Law of Prices. The Law of Prices holds the winning bids of purchase and sale in the face of what is on offer set the price.

3. The claim that “[c]apital gains taxes and marginal rates are unfairly low” is bogus, mental fiction. Income taxation of any kind is immoral and amounts to a quasi-slavery. All anyone has is a limited slice of existence during infinite time. To tax one’s income is to tax one’s expressed skills through time.

As a labor (work), that is skills expressed through time is the poor man’s capital. Taking income (labor) amounts to taking a share of profits from that man’s own capital without having invested in that capital first.

Likewise, when politicians lay claim to tax capital gains, politicians are taking a share of profits without having invested in that capital first.

Without profit, there can not be any taxation.

Since labor is a kind of capital and thus since selling labor is a kind of capital gains, any taxation on either labor as capital or capital gains ought to be taxed at the same rate, however immoral doing so is. Income taxation is little more than political wage garnishment.

Since labor is a kind of capital, workers ought to have deduction and depreciation write offs for their expenses such as food expenses, transportation expenses, skills acquisition expenses and so on.

4. The real problem is not bogus “income inequality” it is politics, specifically CRONY POLITICS. Through crony politics, established players have created oligopoly markets, thus inhibiting competitors from entering markets, introducing innovation leading to superior efficiency, and thus more output, leading to lower prices owing to the Law of Prices.

All of the foregoing would render obsolete existing capital structures of extant players. Yet, through politics, large, established firms can protect themselves from their capital structures becoming obsolete.

The other aspect of crony politics sees established players using politics to have economic quantities of purchasing transferred to some and thus conferring upon them buying power. In so doing, added buying power pushes up prices in the face of extant output arising from extant capital. Again, of this arises from the inescapable and only law of economics, the Law of Prices.

Welfare programs like SNAP keep up food prices that would otherwise would fall in the absence of buying power as ever fewer poor could buy food. With less buying power, bidding on food would fall and thus prices would fall.

Food prices owing to SNAP, medical prices owing to Medicare and Medicaid, rent prices owing to Section 8, higher education prices owing to PELL — all of these are higher than otherwise would be if such welfare programs didn’t exist. Welfare keeps the poor poorer and keeps ever more poor.

Yet another way that Crony Politics infects all is through subsidy of inefficient capital. When producers seek and gain subsidy to stay in production, in so doing, all become worse off and products get made that otherwise could not get made, pulling away resources from other production, thus forcing up costs in other areas and even prohibiting the production of otherwise new products.

So the true problems are Crony Politics, Crony Governance and Crony Regulatory Capture. The problem rests in politics and governance rather than people in pursuit providing wanted products efficiently.

When exchange is not hampered by artificial restriction of supply, nor inflated by artificial giving of buying power, the righteousness of a free market prevails. Only through markets free from Crony Politics, Crony Governance and Crony Regulatory Capture can all benefit owing to efficiency.

5. We’re living in the 21st century. The goal should be to have the least governance as likely rather than the relentless pursuit of the most governance as tolerable. Government is mafia with better public relations.

For all to live better, all need enforced competition (freed markets) rather than regulated competition (political cronyism). All need regulated politicians (limited government). All need self-rule (freedom) and all need entrepreneurialism (capitalism).

6. Economics and Politics. If only many knew how these worked. No longer would many suffer from silly, indoctrinated false beliefs such as “income inequality.” Their eyes would become fully opened. Only then would they lay blame where it belongs. Only then could they rise up in action to stop the madness and evil that punishes many at the hands of the few tyrants abounding — politicians, politically-connected producers, welfare recipients.

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THERE IS NO SUCH THING AS INCOME INEQUALITY

There is no such thing as income inequality. Income inequality is a faux concept conjured by academicians. 

 Income means wages through time. Any wage is a price.

Anyone working sells skills through time and buys wages. Robert Downey Jr. has a higher income than you because his skills expressed through time — his acting — are in much higher demand than yours. People are willing to pay winning bids for his skills at a much higher rate than yours.

There are skills inequality — Downey can act on a global scale — and you can not.

The true cancers killing the tree of goodness are Crony Politics, Crony Governance and Crony Regulatory Capture.

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TRANS-PACIFIC PARTNERSHIP OF ESTABLISHMENT INTERESTS TO SCREW YOU OVER

They used to call these kinds of deals reciprocity and not "free trade". The earliest "free trade" agreement of the United States Congress of which I know is the Treaty with Canada of 1854. The 33rd U.S. Congress signed a treaty with Great Britain, then owner of Canada in a deal that resembles the U.S.—Canada Free Trade Agreement, the deal that preceded NAFTA.

Basically, reciprocity meant a treaty relation between two independent powers such that the citizens of each are guaranteed certain commercial privileges at the hands of the other. Specifically, such deals meant tariff reductions made by some specified nation or country in compensation for some reductions made in favor of such a nation by a second.

Since the advent of mass media of the 20th century and now carried into the 21st century, Congress and the aristocratic establishment of the United States have gotten ever better at manipulating the masses with their wordsmith games. Claiming reciprocity as "free trade" is one of those games. Who could be against anything free?

These trade deals basically protect the largest commercial interests of each respective country while opening up everything else to the largest interest to poach what isn't acknowledged as protected.

Sadly too many confuse these large commercial interests with free-enterprise. Nothing could be further from the truth. These big commercial interests are owned by those who fear competition. That is why they use law to kill competition and use rhetoric to deceive the many as to their designs.

The goal of course is to protect extant capital structures from pesky upstarts with superior technology who might render a firm worthless overnight by exposing an antiquated capital structure. Protection means protected firms gain unearned profits, excess profits. This is the primary cause of what many believe is "income inequality".

On behalf of major shareholders, the execs of GM, Ford, GE  and all of the rest of the big players love these deals. They can set up factories in foreign lands, avoid shipping and hire vastly cheaper labor.

And while it means the random Vietnamese will see his wages rise — good for him — that rise comes from someone else's pocket. Sure the total pie will grow, but the pie doesn't grow in a perfect circle, proportionally.

Run long enough, per capita wage rates should equalize. Americans should get poorer. Australians should get poorer. Japanese should get poorer. Everyone else should get richer, per capita. And regardless of domiciled country, those doing big-scale exporting should get vastly richer.

And since those living in other countries don't pay as many taxes as Americans, in effect, wage-working Americans will end up subsidizing foreigners whose break evens are lower, all things else being equal.

Main Street Americans ought to be calling for 100% free trade combined with an indiscriminate flat tariff, maybe 5%, maybe 10%, on every good imported into the USA. Since foreigners want access to Americans and their wallets, foreigners ought to pay tolls to access ports, roads and bridges like everyone else involved in insular trade. All should expect foreigners to do the same in any true free trade deal with Americans.

Sadly, many 20-somethings who believe they are libertarians, when in fact, they are pseudo-libertarians have been trained to react in knee-jerk reaction to anyone who points out the truth about bogus free trade or supporting illegals who take jobs from Americans because illegals have lower break evens since they don't pay income taxes (see: ILLEGAL IMMIGRATION. WHY IT'S BAD FOR YOU AND A BOON FOR ANTI-CAPITALISTS).

The USA is fast becoming what Nationalist Socialist Britain looked like after World War 2, except without having major firms nationalized — management appointed by legislators, workers as government employees, dividends flowing to aristocrats. In the contemporary USA version, Americans get forced to buy from oligopolists, often by force of law — think Obamacare — while bailouts happen when necessary — think 2008 (GM, Chrysler and the bankers).

True, authentic, free-markets capitalism is what lifts everyday people from poverty. True, authentic, free-markets capitalism is what narrows the gap between rich and poor. 

The extreme rich don't want that gap narrowed. They will protect their status at all costs. They will even turn to communism if it means they get to keep their power and status.

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THE TRUTH BEHIND OBAMA'S INCOME INEQUALITY TIRADE.

Income = sales over time. Sales = price x quantity. 

People with higher incomes sell more of what it wanted at higher prices over time.

Why?

Wages are prices. All prices adhere to the one, true infrangible law that governs all of trade, the Law of Prices. The Law of Prices holds the winning bids of purchase and sale in the face of what is on offer set the price.

Work is skills expressed through time put into property form, which another can acquire. 

Working is the capital of the one who works. Work expressed is the wealth created by the one who works.

Those who earn more do so because what they do is wanted by more who have more buying power to secure the property on offer as work.

Should all 6'8" forwards in the NBA have their legs cut permanently to the average height of 5'9" so average height guys can have a shot at an NBA career?

Should all persons with 130 IQs and above be given partial lobotomies until their IQ hits the American average of 99?

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THE GREEDY ARE THE ONLY PROBLEM THE WHOLE EARTH OVER

Everyone is free to read these facts that I present, facts interconnected in accuracy and defensible through bulletproof logic. 

Those who accept these 15 points understand adult life and much of what adult life entails — power, control, politics, governance, property, property as capital, property as wealth, work, trade and profit. Those who fight against these 15 points above suffer from cognitive dissonance and thus likely try to defend false beliefs inculcated into their hyper-indoctrinated minds.

1. Society consists of strangers who engage in trade of property.
2. A society of property is the only kind of society that can arise among strangers, each who pursue self-interested goals.
3. Property means right of ownership in things and not things owned. Property is a bundle of rights  — Jus Possidendi (right for possession), Jus Utendi (right for using), Jus Abutendi (right for destroying, alienating), Jus Vindicandi (right for recovery when found in the wrongful possession of another.
4. When property gets put to use to make more property, the name for such property put to use is capital.
5. When property made from capital gets traded in purchases and sales, most often for cash and credit, the name for such property is wealth.
6. Labor is the working man's capital. Work done is the working man's wealth, which she or he trades for wages, most often in the form of bank credits and less so for cash. Wages paid is wealth traded away to hire work.
7. Bank credits and cash constitute buying power.
8. Buying power is the means by which anyone can acquire the wealth wanted after selling away wealth produced in surplus and not wanted, whether that wealth is embodied in a finished product or work through time.
9. It is greedy for anyone to seek buying power without producing wealth in surplus that others are willing to trade to get in a purchase and sale, under condition of honest dealing.
10. As a creation of strangers of a society of property, government is supposed to exist only to protect any individual at random and his property from a mob, whether foreign or domestic, from stealing his property unjustly. 
11. Today, government, the creature, has superseded its creators. Men of government through law impose duties and rights upon strangers in society of property and well as themselves acting as the government.
12. Some of those duties include paying income taxes. Some of those rights include fulfilling greedy desires. 
13. Men of government through law grant rights to fulfill greedy desires as a means to secure and enlarge their grip on power. The more who are dependent on welfare and subsidy for their livelihood, the more support they give to those holding power.
14. Expressions of right in fulfilling greedy desires include welfare taking and subsidy taking. Specific examples include recipients of TANF, SNAP, Section 8, Medicaid, Medicare, Social Security, farm subsidies, Pell Grants, all workers of agencies engaged in doling the former as well as all workers in agencies regulating industries, which inhibit new entrants through inhibition of capital formation. Such agencies include the FDA, SEC, FAA, FCC.
15. Men of government through law impose liability for those who operate outside the framework of subsidy and welfare to fulfill their greedy demands. Thus, through liability, anyone is free to pursue right of action in civil fraud. Men of government reserve to themselves right of prosecution in criminal fraud.

Every right minded, straight dealing person knows that to get property, which is the right of ownership and never the thing owned, in anything, a person ought to acquire such in a purchase and sale with the current holder of property by trading cash or credit for property in whatever is being traded.

Everyone who has a sense of right and wrong knows that it is wrong to try to get something for nothing. And that is what the greedy do. 

That is the picture perfect definition of greed — striving to get something for nothing from someone else, without giving up something wanted in honest exchange or in honest trade of purchase and sale. Greed is wanting property in stuff without having to trade for such fairly. Greed is striving to get something without giving up something wanted by someone else in an honest exchange.

The word greed came into English about 1600, making it word of a Middle English. It is a back formation from the West Saxon word greedy, which makes that an Old English word.

Greedy is the Old English word meaning covetous. The word was used for the Greek philargyros meaning money loving in Christian religious translation tradition.

A covetous person would be one who is painfully desirous over another's advantages. Such one would seek any means to acquire those advantages without having earned those advantages honestly.

Being greedy is being envious of others who are rich and successful and driven by that envy, striving to get something, often buying power — cash, bank credits — for nothing — doing no work or not doing legitimate work. Every right-minded, straight-thinker of sound mental health would agree.

Getting welfare, getting subsidy, swindling people by fraud — all accurately express the concept of greed. Welfare takers, subsidy takers, fraudsters, all share one driving trait, a trait that nullifies character within them. They are all greedy to the core.

Seeking welfare instead of work, accepting welfare and then never paying back for that welfare is greed. Welfare collectees, subsidy seekers, fraudsters — all are greedy.

Bernie Madoff was greedy. He swindled people of their bank credit, technically, so he could get rich without having to give up in trade, honest services of earning profits trading stock.

Madoff committed fraud because he was greedy, which is another way of saying Madoff wanted something — other people's cash and credit — without trading for it — selling them stock portfolio services that would lead to honest profits.

Welfare collectees are the same as Bernie Madoff. They want free rent and free food for their entire lives without working. The common denominator between Madoff and welfare collectees is that both are greedy — they both want something — buying power — without giving up anything in honest trade — work.

When do you see welfare collectees quit welfare, work and pay back taxpayers for welfare they collected? Those who aren't greedy would do so. Anyone who gets off welfare and gets a job, paying income taxes fails to pay back for past greedy welfare collecting. Instead, they pay forward for future greedy welfare collectees.

Work is the honest trading of skills through time, of course.

Those who live by capitalism in an honest manner never are greedy. There is no greed in honest capitalism. Never is there greed in authentic capitalism.

Capitalism means living by putting property to use, which is capital, to produce property for trade, which is wealth. 

Producers deploy automation questing for efficiency. Efficiency can let producers accept lower winning bids for what is on offer while maintaining profit margin.

Whether produced with automation or not, products traded for cash or bank credits is still honest trade. Producers who use automation are not getting something — buying power in the form of cash and credit — for nothing — not selling product.

Wealth only arises from trade, of trading one kind of wealth, often cash or credit, for another kind of wealth, property in a product arising from property in production, which is capital.

Those knowingly who make shoddy products selling such products without revealing defects to trusting ones are greedy.

Freedom is the realm where a man or woman is self-sovereign. In freedom, anyone has liberty. Liberty requires government. 

Anyone has duty, in truth, only to those that one brings forth among the world. Strangers have no duty to each other and no stranger has an inherent right to anything from anyone else that doesn't arise from mutual consent.

Forcing people to surrender their living for others is mere savagery regardless of how self-deceiving the rhetoric is. As long as people demand that persons get forced to pay income taxes or face imprisonment to pay for welfare and subsidy, no one can be free. 

In representative democracies, without power, politicians couldn't cause all their wars and all of the mass murder that goes on with their wars. In representative democracies, politicians only can gain power by doling out welfare and subsidy to the greedy who surrender their individual power and sovereignty to politicians in exchange for unearned buying power.

[ See: 20th Century Murder by Government Democide ]

Greedy welfare takers and greedy subsidy takers are the problem. The problems are Crony Politics, Crony Governance and Crony Regulatory Capture. The problem rests in politics and governance rather than people in pursuit providing wanted products efficiently.


When trade is not hampered by artificial restriction of supply, nor inflated by artificial giving of buying power, the righteousness of free markets prevails. Only through markets free from Crony Politics, Crony Governance and Crony Regulatory Capture can all benefit owing to efficiency.

Peace and prosperity come to a society of strangers when each one gains self-enlightenment, self-actualization, by rejecting greediness in oneself and by rejecting calls by the mob to use forced against anyone as the means to satisfy the greediness of those of the mob.

To help you more, read these fast reads:

• LAW VS JUSTICE. GOVERNMENT VS SOCIETY. POLITICS VS YOU
• CAPITALISM. BECAUSE WITHOUT IT, YOU WOULD BE LIVING AS A BARE SUBSISTENCE SAVAGE
• WHY GOVERNMENT AT ALL YOU ASK?
• REAPING DAY APPROACHES. THE REAPER COMES TO REAP YOU. ANOTHER TAX DAY IN AMERICA COMES
• CAN YOU BELIEVE THEY HAVE THE RIGHT TO VOTE?
• TAKE THE PATH TO SELF-BETTERING THROUGH PROPERTY
• WALK LEFT SIDE, SAFE. WALK RIGHT SIDE, SAFE. WALK MIDDLE, SOONER OR LATER GET SQUISH JUST LIKE GRAPE.
• TYRANTS BIG AND SMALL. DYSTOPIAN UTOPIANS AND FORCING SOCIAL COMPACTS UPON YOU WHETHER OR NOT YOU LIKE IT
• CASHING IN THE BILL OF RIGHTS. TRUTH, JUSTICE AND THE AMERICAN WAY.

• WHY IS THE ECONOMY SO HORRIBLE? BECAUSE ACADEMIA ECONOMICS IS FAKE.
• MIKE "MISH" SHEDLOCK vs MICHAEL PETTIS, OR THE UNREALITY OF SAVINGS, INCOME INEQUALITY AND ECONOMICS
• BUT I SPENT 150 HOURS HANDCRAFTING THAT OIL ON CANVAS! OR THE LABORER'S SILLY THEORY OF VALUE.
• GREEDY CAPITALIST COMPLAINS ABOUT UNEMPLOYMENT INSURANCE EXPENSE AND QUITS HIS BUSINESS
• SAME AS IT EVER WAS IN THE LAND OF GLUTTONY AND SLOTH
• HOW IS THAT HIGH-PAYING WELFARE GIG WORKING OUT FOR YOU, GOVERNMENT "WORKER"?

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AMERICANS ARE COMMITTING (ECONOMIC) SUICIDE DAILY WITH IPHONES AND IPADS

Americans gain little from trade with Third World countries. Americans are letting their futures get ripped away for a few trinkets like iPads and iPhones.


This is what happens:

 ✘ Foreigner owners of factories produce goods with lots of labor and little capital — very inefficient.

 ✘ Because foreign production is inefficient — low capital, little output per person — even though total output is high because of the sheer size of the workforce — wages of foreign workers are low.

 ✘ Because the cheaper imports not made with much capital per worker undercut the return to American capital, new capital investment slows in the USA.

→ Capital is the source of wages. If there is no capital and no return to capital, there can be no wages paid. Higher wages comes from higher capital spending per worker.

 ✘ Less capital per American means lower wages.

✘ Lower wages means lowering living standard masked by being able to buy cheaper foreign products.

✘ US-based financiers transfer their investments from ever falling returns on USA based capital to foreign countries.

✘ Eventually, all high-paying jobs in the USA disappear.

✘ Income inequality continues to widen as USA-based rich financers get richer on a growing world economy.

✘ Americans get substantially poorer.

✘ Foreign workers go from abject poverty to working-class poor.

1. Reciprocal free trade only works with foreigners whose capital spending per citizen is about the same as ours. This is authentic free trade. 
2. Under a system of Free enterprise with true free markets competition with authentic free trade, it becomes harder for some Americans to become obscenely rich. Almost all Americans are better off. Far fewer Americans are extremely better off.
3. Without Third World tariff-free imports, Americans living standards forever rise under capitalism.
4. Without Third World tariff-free imports, Americans would gain much higher incomes to afford to buy iPads and iPhones built right in factories right in the USA.
5. With Third World tariff-free imports, Americans living standards forever fall because capitalism falls in the USA but rises elsewhere.

Look at it this way with easy-to-get math. Let's make big assumptions like capital is uniformly spread over each worker and yields a uniform output.

• USA: $1,000 @ 10 workers = $10,000 output
• CHINA: $100 @ 1000 workers = $100,000 output

In the USA, workers get $100 worth of capital to use. While in China, workers each get $10 worth of capital to use.

American workers are 10 times as efficient as Chinese workers are. Yet, Chinese workers can produce ten times as much. As costs are much lower for Chinese (wages and capital outlays), the Chinese can accept lower winning bids (prices) for the same products.

There is no way Americans can compete. It's because of labor and not capital that Americans can't compete with the Chinese. The net result is simply a destruction of American industry until Americans get reduced to Third World status.

Conclusion:

✓ Americans become much more like Third World workers while Third World workers rise up a bit.

✓ Wage rates get equalized the world over but at much lower levels.

✓ Ownership of capital gets concentrated in ever fewer hands — there are more super-rich but fewer relative to total population.

And when unrestricted immigration happens — immigration where the foreign-born population exceeds 5% of the USA-born population — this only accelerates the fall in wages. For more on that, read my works. If you read these works, you will understand fully what has been happening to Americans and our economy:

• SOPHIE'S CHOICE OF CAPITAL OR LABOR. A FREE-MARKETS LIBERTARIAN BECOMES AN ANTI-CAPITALIST AND PERPETUATES AN ECONOMICS MYTH
• ILLEGAL IMMIGRATION. WHY IT'S BAD FOR YOU AND A BOON FOR ANTI-CAPITALISTS.
• JASON X AND LEW ROCKWELL'S CULT OF MISES. ANOTHER EXAMPLE OF WHY AMERICANS ARE IN BIG TROUBLE.

And here are a few works on politicians running for the presidency and what they say about all of this:

• MARCO RUBIO CLAIMS THAT AMERICANS ARE STUCK WITH ILLEGAL ALIENS. THE ROOKIE U.S. SENATOR RUNNING FOR PRESIDENT CLAIMS CONGRESS IS POWERLESS TO DEPORT ILLEGALS.
• RAND PAUL GOES FULL RETARD, SIDES WITH DEMOCRATS AND TURNS HIS BACK ON WORKING-CLASS GENERATIONAL AMERICANS
• WHY TRUMP IS WINNING. THE REST ARE INTERNATIONALIST SELLOUTS WHO STAND AGAINST WORKING-CLASS AMERICANS.

The most recent proposed trade deals — the Trans-pacific Partnership and the Transatlantic Trade and Investment Partnership are not even free trade deals.

TPP and TTIP are treason by other means. TTIP would turn over control of the USA commercial regulatory mechanism to the EU bureaucrats in Brussels, essentially. It would erect huge barriers to entry that protect U.S. mega corporations from upstarts at home who would best them with new technology and thus render the extant capital structures of these mega corporations obsolete — the creative-destruction that makes authentic free-markets capitalism thrive.

If these supposed reciprocal trade deals were good for all Americans and not merely for the shareholders of a handful of mega corporations, 100 senators would vote aye. There would be no need to vote in a rule that lowers the passing vote to 51 votes and kill the procedure for amendments. That is what trade promotion authority (TPA) is all about.

Think about it.

The bogus rules changes arise strictly because bad senators who want these deals need camouflage for their re-election. With these deals, they can say the didn't vote for deals like the Trans-pacific Partnership but still be for such deals merely by abstaining or voting nay.

All of these senators want these deals, all 100. All 100 work for the internationalists and not their states' legislators. That is why the 17th Amendment needs repealing.

If you think the economy is bad today, if TPP and TTIP pass, never again will Americans have high-paying jobs. There will be generation of all races and not merely blackies, including tens of thousands of healthy males every year, who will never work. They will live cradle-to-grave on welfare. 

Life will become as it is in France right now.

Americans have been digging their own financial graves since the 1990s by trading with China, the Mexico part of NAFTA, CAFTA-DR and the like. It's great for internationalists and mega-capitalists but not so great for working-class Americans.

For more on that, see: TRANS-PACIFIC PARTNERSHIP OF ESTABLISHMENT INTERESTS TO SCREW YOU OVER


Look, I like fruits from the Caribbean like the next guy. We would have gotten those cheap all the same.

Anything not grown in the USA should come duty-free into the USA, stuff like coffee.

We should have free trade with countries that are comparable in terms of economic development as measured by capital per capita. That makes sense.

If the Norwegians are better at making digital sensors, then Americans should stop and use capital elsewhere to make something more efficient.

But Americans can never compete with Third World countries who can throw a mass of labor at the production problem.

Foreigners should be forced compete against Americans through efficiency under capitalism as capitalism is the only way to get a high living standard. What is killing the USA and our economy and capitalism itself is importing goods taxes-free from third world countries whose means of competition is a mass of workers with little capital.

That is why import taxes (tariffs) should exist.  Import taxes ought to be levied at the rate of the inverse of the ratio of foreign per capita GDP to USA per capita GDP. So for example, because Canadian GDP per capita is $50,271 while American GDP per capita is $54,629, a tax of 7.98% should be levied on imports coming from Canada

Here is the math:

(1 - ($50,271 ÷ $54,629)) × 100 = 7.98%

Likewise, Mexican GDP per capita is $10,361. So a tax of 81% should be levied on imports coming from Mexico!

I wrote about how trade should be done in this one:

WHY TRUMP IS WINNING. THE REST ARE INTERNATIONALIST SELLOUTS WHO STAND AGAINST WORKING-CLASS AMERICANS.

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POPULIST-RAGE APPEALING BLOGGER, A GUY WITH NO ECONOMICS BACKGROUND CLAIMS BITCOIN IS MONEY. WHY DOES ANYONE READ HIM?

Today, In EU Rules Bitcoin is a Currency, US Says Bitcoin is a Commodity; Which Side is Correct? What About Gold and BitGold?, wildly popular "financial" blogger, Mike Shedlock, a guy who once confessed that he has no background in economics outside of reading books from the likes of huckster, cult-like Mises.org, idiotically claimed "bitcoin is both money and a commodity". Shedlock then pushed his mini-cult members to read a flawed work by Murray Rothbard, a long dead college professor associated with Mises.org.



Bitcoin is not money. Anyone who claims that Bitcoin is money simply doesn't know anything about money and is merely spreading stupidity. 

Money is coined metal by weight and fineness. Money were it to exist could exist without bankers and without lawgivers. 

Cash, which is evidence of bank credit in circulation, requires banking. Legal tender cash, which is what all of us have, requires bankers' cash, lawgivers and their enforcers.

Never in the history of banking has any smart banker ever considered cash as money. No jurist every thought of cash as money.

The U.S. Congress requires the Federal Reserve to collateralize every dollar in circulation precisely because cash isn't money and never has been money.

Money hasn't existed legally in the USA since 1933. As a matter of practicality, the bulk of the economy of Americans has not relied on money since the Civil War.

Bitcoins are like Beanie Babies or DVDs. They're collectibles and nothing more.
Without doubt Bitcoins are not currency. You must prove title before you can trade Bitcoins. That is what the blockchain is all about.

Anything that requires title proof isn't currency by jurisprudence. Currency means the property (right of ownership) goes with the possession.

A liquor store robber can spend his ill-gotten cash in a supermarket for milk in a purchase and sale of cash for milk, milk for cash. By law, the supermarket can keep the cash because the sale was an honest exchange, even if the cash was ill-gotten.

Postage stamps circulate goods. So too do supermarket coupons. No one would be foolish enough to say that either postage stamps or store coupons are currency.

Bitcoins are useless without cash of various banking systems. Drug dealers accept bitcoins for their heroin because they know they can sell their bitcoins to future druggies for cash, through the surrogacy of Bitcoin exchanges.

Bitcoin exchanges are little more than financial launders, so-called "money" launderers for drug dealers, prostitutes and murderers-for-hire.

Murray Rothbard was a hack, so stupid about all things money, credit and banking, that he believed, wrongly, there is a double claim of ownership on deposits. For the entire history of banking and law, a banker owns what gets deposited, buying such in a purchase and sale. The depositor sells cash, other bank credit or debts. In the days of money, depositors sold money.

Read the definitive works on Bitcoin right here:

• BITCOIN IS SOFTWARE PROTECTED BY COPYRIGHT. BITCOIN IS NOT LEGAL TENDER CASH.
• THERE ARE 1,297 TRILLION BITCOINS NOW AVAILABLE!
• FROM BITCOIN TO SHITCOIN IN ONLY A FEW DAYS.
• BITCOIN IN FREE FALL. IS IT TIME TO DITCH IT?

And to read more about Mike Shedlock and his rather questionable background, check out:

• ANTI-BANKING PITCHFORK POPULIST BLOGGER BLOWS IT ON GREECE, BIG-TIME.
• THE UNREALITY OF SAVINGS, INCOME INEQUALITY AND ECONOMICS

And for more on those cultists at Mises.org:

• JASON X AND LEW ROCKWELL'S CULT OF MISES. ANOTHER EXAMPLE OF WHY AMERICANS ARE IN BIG TROUBLE.

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