Wisdom from Down-Under

Found this, this morning. As the US and the rest of the world take defibrillator paddles to the economy, and we hear mutterings of class warfare, it is interesting to hear similar sentiments expressed … globally … by the people doing the actual job creating.
This link is the full story.
Good read. I don’t have the nice car (I have a 13 year old Jeep), or the huge house. Still in growth mode. But the “no off button”? Yeah, I have that. I’d love nothing more than to plow all the money we have to pay the state and federal government each year, back into hiring people. Can’t do that though.

5 thoughts on “Wisdom from Down-Under”

  1. I’ve got to say that one of the main reasons I got Aussie citizenship was to try and help vote the previous government out with their xenophobic undercurrent and insidious lies. Whilst they may have got Australia to zero debt we also have chronic under investment in infrastructure, education, training, etc – it was all short term gain to win the next election and bugger the future.
    Then there is what laughably passes for Internet connectivity here and the stranglehold the telco monopoly the previous government sold off intact has on it – when the residential ISP they own can sell ADSL to customers cheaper than anyone else can buy it wholesale then there’s something seriously wrong. Thankfully I think the regulator has finally managed to stop that little rort..
    Whilst I think the Labour government is wrong on mandatory ISP level filtering, their pitiful inaction on climate change, etc they do at least make me feel better about being Australian as the last mob.
    Mind you I think that all politicians overestimate the effects they have on the economy (both good and bad), it’s pretty much out of their hands and they just like to believe that they can do things with it. It’ll damn us all in the long run..
    Apologies for the rant and the Australianisms that filtered in, but it’s something I feel strongly about.. 🙂

  2. @Chris
    I was actually talking more to the points of running a business. I empathize with the author of the letter. It is hard, at many levels, to run a business. Excruciating in many cases. You sacrifice, you deal with … well … interesting personalities, some with … er … entitlement complexes, you deal with purchasing folks, you deal with business issues that range from ok, to downright aggravating, all while running at breakneck speed, trying to make sure you have enough money to pay people, rent, power …
    That is, you sacrifice. A huge amount. On the off chance your efforts are rewarded, it was your sacrifice that got you there. That and your best employees sacrifice.
    I haven’t ranted on people I call ‘lifers’ … or at least in public. But after hiring a few of these folks (whom do not understand what I would call a sense of urgency), I am disinclined to hire any more like that.
    I tend to eschew politics in discussions here … I don’t discourage it, just that I think everyone is best at discussing politics in a pub, with a nice beer/ale in front of you.
    I do have to admit that I am personally an unabashed capitalist, and the intervention of the government into the private sector makes me very worried … such things have a habit of winding up with political players picking market winners and losers, which is unrelated to how the market selects winners and losers. The former is notoriously inefficient, the latter generally more efficient. Worse, when the government gains control over a market or company, it tends to reward its political base, and harm the other players. Today Chrysler bond holders, the people who have secured debt in the company, are being force fed a huge theft of their assets, in favor of providing literal union control over the company. Later this or next month, the same thing will happen at GM. This has a number of long term, and very dangerous consequences for the debt market. It may even open up new classes of risk insurance, basically having bond holders start taking out insurance against loss due to government intervention and forced/imposed settlements. The government has now effectively destroyed capital and wealth, simultaneously handing the companies over to those that helped to bring them to this point.
    My concern is when the profoundly naive gain control of the levers of power. Don’t read into this, your conception of profoundly naive may be (quite likely) different than mine. Which is why political discussions are best had over a good pint at a pub.

  3. @anon (Joe?)
    Understand completely – I’m not always that good at picking out the underlying reasons for people writing things, so apologies for bringing politics into it.
    In the end politics and the markets are all down to people and, as the bard saidA person is smart. People are dumb, panicky dangerous animals and you know it“. 😉

  4. @Chris
    Yeah … I was on a different machine … too lazy to log in.
    Love that quote BTW.
    Just ready that entrepreneurship is up. I guess people are sick and tired of being “at will” employees. Well, some people. Professors who make tenure are not “at will”.
    As for the political thing, no worries. I’ll buy you a beer in Portland (they have decent microbreweries in that neck of the woods) and we can poke fun at the foibles of politics.

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