I Hate Nepotists

Bragging set aside, the fact was that I graduated in the top 5 of my class.

Not top 5 percent.

Top 5 people. I was number 5.

And the reason I knew I was #5 was because it was the Carlson School and it was reasonably competitive. You could ID the people who kept posting good grades, knew their stuff in class and ergo were your "competition." Not that you didn't like them, you just knew who they were.

But there was one thing that I would like to (once again, setting bragging aside and merely pointing out the facts) point out that separated me from the rest and that was out of the 5 I was the only one to;

1. Pay for all of my college AND living expenses in its entirety with no debt
2. Work full time while going to school full time
3. Graduate 6 months early

The rest of them either had college at minimum heavily subsidized and not a one of the remaining 4 finished in anything less than 5 years and I doubt any of them worked beyond a token 15 hours a week.

Regardless, in my young 21 years of youth I thought, foolishly, that with this background I would be reasonably attractive to potential employers. That upon graduation, the least of my worries would be finding a job.

Ah, but there was one minor little factor I forgot to consider;

Nepotism and cronyism.

For up until that point I thought the Ambercrombie and Fitch wearing students who would say,

"It's not what you know, it's who you know"

were merely jocks who couldn't go pro and now were relegated to majoring in marketing or sales. Guys (and gals) who didn't have the ability to do calculus or math and therefore thought they'd get by in corporate America by kissing ass and brown-nosing. Foolish peers who were guaranteed to be in for a rude awakening when they got to the "real world" where obviously corporations would be able to weed them out, because SURELY corporate America appreciates production and efficiency and smarts over brown-nosing.

Sadly, they knew more than I ever did about business, no matter what my rank. For they were right, it's not what you know. It is who you know. All I knew was how to predict stock market bubbles and housing bubbles and Asian currency crises. All nothing compared to a good gopher and ass-kisser whose dad golfs with the VP of finance.

And so for the next year I watched my career go down in utter flames as I saw people with C averages landing $50,000 a year jobs at their "dad's firm" or suburban Sue getting a coveted analyst position at her "grandpa's firm." Even to this day when I teach class, I see college students all of 19 years old, pull up in a brand new Honda and have absolutely no worries about finding a job later in life because one is lined up for them. And if not, no worries, you can always go back and live with mommy and daddy back in the burbs.

The reason this is so angering is not that I personally didn't get the coveted analyst position at the local investment bank when I was 23, but that it is not a meritocracy. That the best people do not get the job. That the highest qualified do not get the promotion. It is the connected or the charlatans that do. And you can study your ass off and pioneer new lines of thought or come up with radical and crazy ways of doing things that could make a company millions, but if you're not somebody's nephew or somebody's niece, well, "Thank you for your interest in XYZ Corporation. Though you background is impressive we have decided to go with another candidate who's willing to suck our...ahem."

My whole point, is that while I am the most ardent capitalist and for everybody making billions in dough, the opportunity cost we suffer by letting the less-qualified candidates get positions of power or productivity costs us all. Imagine, for once, if all senators and congressmen who had college paid for, sudden disappeared and were replaced with people who did. Imagine if the ass-kissing CEO's of all the financial firms who more or less wiped out 25% of the equity in your homes were replaced instead with farmer Joe. The amount of pain we could have avoided (not to mention the sheer level of production we would have enjoyed) is unfathomable.

That being, though I am for lower taxes, when I see charts like this;




I start to wonder how much of that was truly earned by people who busted their asses off and created something new and something of worth, or were merely the Bush, Heinz-Kerry's, Pelosi's, Obama's, and Gore's of the world who never worked a day in their lives, never got their fingernails dirty and never shoveled sh!t for a living (which coincidentally was my first job - poo-shoveler). And then I start to opine about a "nepotism" tax where we tax people who get jobs over more-qualified people because of who their mommy is or something.

Learn About Detroit from Dr. Perry

Two interesting posts

Here

and

here.

Behind the Housing Crash - Slated for August 2008

Hi All,

To whet your appetites I figured I'd put the book cover up there since that is done so you can at least get a feel to see what it looks like. Looking at an August release date assuming all goes well converting the manuscript into an actual book.

We Want to Become Socialist

I'll try to make this quick and succinct as possible, but it is a thought or an epiphany I just had, so bear with me if it isn't too clear.

I listen to talk radio obviously and as of recent the tone of various talk show hosts, be they Rush Limbaugh, Jason Lewis, Mark Levine, and Michael Savage, etc., is one of frustration, almost defeatism or hopelessness. They see the likes of Nancy Pelosi do nothing short of lie to the face of the American people and blame high gas prices on the Republicans and Bush, while at the same time blocking any legislation that would lift the ban on drilling in ANWR or offshore, and worse still the American people believe her. They see the likes of Californian coo-koos passing legislation to ban fast food restaurants with goes against every bit of freedom and choice that is a founding principle of America. They see Bush sign the subprime slime deadbeat bank bailout which abandons any sense of responsibility. And probably the most depressing thing of all is Barack Obama, who literally stands for nothing, is most likely going to be our next (and first socialist) president.

And what I'd like to try to point out to them, and for those of you who are also frustrated with this, is that we seem to forget that this is ultimately a democracy. While we listen to talk radio, and we have empirical proof capitalism works, and we have history on our side and know, NOT "feel", but KNOW we are right, we have to understand that too high a percentage of Americans do not think this way. A critical mass (arguably the majority) of Americans no longer believe in freedom, self-reliance, capitalism, profit, manliness, competition, "nuclear" families, and everything else that is quintessentially American.

A perfect example happened right here in Minnesota. At one of our theme parks a group of teenage punks copped a feel of a 12 year old girl, which then sent her father into a rage, which then begat an unfair fight where these 8 punks then proceeded to beat him so severely he was sent to the hospital.

Now if it was 1945, people would have intervened and kicked the crap out of the 8 punks and given no thought to law suits or liability. But instead, people just sat there and watched and did nothing. Not because they didn't want to. Not because they didn't want to do the right thing. Not because they didn't want to do the American thing. But because a bunch of socialist lawyers have made it too risky to intervene and thus society, and Americanism, suffers.

Regardless, my whole point is that instead of banging our heads against the wall, and yelling pointlessly into the wind, we may have to admit that this is still a democracy for better or worse, and if the people want socialism, then the people will get socialism.

I like it no more than you. And I'm not saying that you still don't fight the good fight. But we have to realize that we can apply all the logic and empirical evidence we want to help support our case, but it will fall on deaf ears as socialism is not founded in reality. That's the only way socialism can work. That you convince enough sheeple they don't have to work to eat. They're poor not because they produce nothing, but because they are from disadvantaged group "x." Or some preppy Amercrombie and Fitch Harvard elitist fools people that he will bring them "hope and change" and everything will be chocolates and kittens thereafter.

People don't choose socialism because they think it will work, they choose it because they want it to work. And that, unfortunately my friends, is what the majority of what I will call "Pseudo-Americans" want today.

World's Largest Arms Exporters

About what I expected.

Added a Mug

Per a couple people's request I have added a mug to the Cafe Press site.

That being said, if what they say is true and Cafe Press is charging a $5 "economy" fee, I will be looking for alternatives to Cafe Press.

The Captain's Pad O' Commerce

So I spend the better part of 7 months writing the book (due out in 3 weeks, please be patient) and it's kind of weird in that you are working, working, working and then all of the sudden, BOOM!

Nothingness.

You wake up and your schedule is completely open. No writing, no editing, no chart-making. Nothing.

And it takes a little bit to adapt to. Reminds me a lot of college where I worked full time and went to school full time, but since my job was a college job, once I graduated, I couldn't have my college job anymore. Went from about 90 hours per week to 0 in one day.

Regardless, economists of the capitalist type get ancy laying around all day because the never ending urge to produce GDP calls. Relentlessly it calls, "Yoooouuuu must contribute to GDP!!! You must produce something of worth!!!!! You must create wealth and advance society."

So while I sit here and wait for the publisher to put the finishing touches on the book, I decided to embark on a little side project and put together those shirts I was always talking about;

The "I Contribute to GDP" shirts!

In any case, click here on this link to go to the Captain's Pad O' Commerce and if you are so inclined buy yourself one of these sharp shirts (and in part helping contribute to GDP yourself!) Also feel free to forward the link to anybody else that might be interested. Out of pure intellectual curiosity, I’d be interested to see just how far this thing might get forwarded… plus, now wouldn’t that be sweet if I became a millionaire over something like a shirt?

Regardless, there are two options; the text on the front of the shirt and the text on the back. I don't know why the text on the back shirt is more expensive than the front one, but I created both in case you are really adamant about having it on the back. And should you buy one, I promise all funds will go to the Captain's "Spending All My Money On Me Fund."

Does a more noble capitalistic cause exist?

Empirical Proof Why America is No Longer a Meritocracy and Why We Should Shoot the Lobbyists

Do you see what I see?

A Zimbabwean Economist

I found this picture hilarious from The Economist.


Don't know who he is, but you know he's at least an aspiring junior deputy economist.

And while we're on the topic, the highest denominated bills in the history of the world;

It still amazes me to this day as to how many adults do not understand why you just "can't print off more money." What a lot of people don't know, freemarketers and libertarians as well, is that if you can explain to people why you can't just "print off more money" you've already sent that soul on the road to become a capitalist.

Captain Capitalism and His Adventures in Snake Mountain!

Again, for effect, please click here first.

It was another one of those trips where I had set forth out to find various fossils (which I did - large clams from 500 ft above the river)



geologic formations and perhaps get a little mountain climbing in yesterday that so defines my obscure hobbies. This time I went to the scenic lake of Lake Pepin, merely a widening of the Mississippi river to the south and where on either side, Wisconsin or Minnesotan, there are cliffs that one can climb.

We had gotten out of a town called Maiden Rock where I saw this cliff or as I would come to refer to it as, Snake Mountain.


I didn't get more than 6 feet up before I heard a rather distinct and unique rattling. And in 2 seconds it dawned on me there was a rattlesnake very close.

I had always wanted to see a rattlesnake. On my many adventures into the Badlands, Black Hills, Wyoming and Nebraska I had hoped I would see one. But they're kind of like tornadoes. You'd like to see them, but not 12 inches away from you. And there he was; big, fat, coiled rattlesnake now sharing the same narrow ledge with me. I decided to call him "Pookey."

Much in an Indiana Jones way falling into the pit in Egypt with the cobra in front of him, I slowly slinked away doing my best not to disturb Pookey. I got back down the first ledge we had gone up, and thought, "boy, I've been waiting all this time to see a rattlesnake and I never got a picture. I should go back up, but a different way, with the camera to get a better picture than what we were getting from below."



So I went back up (but on a different route) with the camera and as I was getting on top of the ledge over Pookey, it occurred to me they may have a snake nest in the area. So I grabbed a stick and started batting away at my path that I would inevitably take to get a better picture of Pookey.

All was well, I managed to get directly above Pookey and then I heard a slithering noise. Sure enough all of 5 inches from where I walked was Pookey's bigger, fatter brother who opted not to rattle and let me know of his existence, slowing slithering away. His name was Philbert. I thought Philbert at first may be a normal non-deadly snake, but then he too started rattling.


It was at this point I determined my best option would be to get off Snake Mountain as quickly as possible. And now furiously batting away at a new route down the ledge to ensure there were no more snakes, I managed to get off the ledge without getting bitten or greeted by a third snake.

This has nothing to do with economics, but like the Clark award or something, there should be an award given to the most adventuresome economists under 40 who do the most to deconstruct the stereotype economists sit and tinker with numbers all day.

I'm Sure It's Just a Coinky Dink

But Obama is a socialist afterall, and bar the Hitler posters, I would say there are similarities in not only the posters, but the ideologies as well.

Does anybody hate Che as much as me while we're on the topic? How somebody who was a murderer and basically a deadbeat loser could attain such cult status from people who really don't know about the man but fall in love with his "rebel" like status? I mean Captain Jack Sparrow, now he was a rebel. Han Solo, he was a rebel. Ronald Reagan, he was a rebel. And rebels that fought for good and brought about a reduction in poverty only Che and his economically impotent socialist counterparts could only dream on.

Perhaps it shows the intellect of Obama supporters as there's a persistent occurrence of Che images in his campaign; they don't know what he stands for, just that he's "hot" and a glamorous "rebel." Young foolish puppy-love with no maturity, wisdom or adulthood going into their decision to choose who will be the leader of the free world...or at least the free world for now.

Another Reason AlQaeda is Failing

Presumably the goal of childish little men running around the desert subscribing to a literalist interpretation of an archaic scribe to make themselves feel important was to bring down the mighty west, particularly, America. And while they did manage to kill 3,000 people in two fell swoops, the overall results are, frankly, not in their favor.

For while they had an immediate and initial success, over the next few years, all they managed to do was kill their fellow countrymen in a spate of suicide bombings.



I do not wish to hear from the BAF (blame America first crowd) because if 9-11 never happened, I doubt we would have gone into Iraq, but I do wish to point out that basically Al Qaeda has more or less caused the opposite effect they were intending because, well frankly, they're disgusting evil people that nobody, even Muslims in the Mideast, don't like. And particularly so, since it's primarily been Muslims in the Mideast getting killed by all the terrorist attacks, and three times as many as in America.

If anything, this is a call for moderate Muslims to start fighting back and cause a reformation within the Islamic faith. I have no skin in the game one way or another as I largely detest all religions, but if you're going to go and get yourselves killed over something, you might want to purge from your ranks the radical nutjobs blowing up your fellow countrymen in the process.

I would also like to point out that, despite what brainwashed, non-thinking liberals would say, these charts are empirical proof of George Bush's success and why history will treat him kindly. Even I don't like GW that much, but you cannot deny (though some will concoct conspiracy theories as to why they might) George Bush has succeeded on the war on terror.

How American's View Business

Everyone is entitled to everything, and if they don't get what they want, they go running to the government;

The US is Slowly Turning into Europe

There is Europe and then there is the US. The whole idea was that they were two distinctly different "cultures;" The US being the tough, rugged, individualistic, don't give me your freaking charity General Patton types who pull themselves out of poverty with sheer hard work and ingenuity. And Europe being more of the caring, compassionate type, who is willing to lend a hand (other people's hands, matter of fact) and institute a more socialist society. Not that they are rivals or enemies, but in the grand scheme of things, two neighbors with differing political views, that still like each other none the less and can get along. Additionally, having the option allows for true diversity and if the more entrepreneurial wanted to leave Europe to chase their dreams in the US, or those in the US wanted a cushy government job and never really wanted to build an empire, but just live a decent life in Europe, so be it.

But the two are merging and becoming more homogeneous than we think;


Even under George Bush, dictator, tyrant, puppy killer and one who talks in the theater, the trend in the US has been to increase spending. I know we all like to point to his tax cuts, but they're not real tax cuts as they haven't been accompanied by cuts in spending. This is merely postponing taxes into the future as all government spending must be paid for with taxes. Either today, or tomorrow, they must be paid. Ergo, spending is the real measure.

But Europe as well has been trending towards America, cutting their spending and abandoning their more socialist aims.

The result?

We (the west I mean) will all become boringly the same. The French will be less French. Americans will be less American, and therefore less warranted to pick on the French because we'll be more like them. And worse still there will be no more real "America." It will be socialism lite under Barack Obama and Nancy Pelosi. And, despite what lefter leaning types will claim, we will lose the one thing that has made America different and better than Europe and made us once the beacon for the massive emigration out of the old continent and the envy of the world; economic freedom.

You can come here, but you're going to face 40% tax rates.

You can build a company here, but we're going to tax your corporation first at 40% and then you at another 40%.

You can live here, but you're going to have to pay for all of our retired population who so poorly planned for their retirement, that they'll need another $10 trillion in subsidies to pay for their medical care.

Sadly, the US will become another European nation, not unique, not special and definitely not American. And the only countries that will be "American" will be the various smaller nations such as Bermuda, Switzerland, the Caymans and Hong Kong, and China which is trending rapidly to an old school style America.

War on Terror Almost Costing as Much as Sub Prime Dead Beats

$860 billion.

Almost as much as all the sub prime slime has cost us, but at least you can say with the Iraq war it was for a good cause.

Warning - All knee jerk pacifist rhetoric will be summarily ignored as we've heard your side for the past 8 years and I'm sure nothing new will be said.

Empirical Economic Proof Why the War on Drugs Has Failed

I can make no simpler nor convincing of an argument for the legalization of drugs that this;

Do You See What I See?

OK, let's see if you can tell where the REAL problem lies.



Is Ms. White's problem the big bad republicans and George Bush forced this horrible housing market upon her or....(fill in the blank)"_____________________________."

A Week of Oil Charts #5 - "The US Doesn't Have Enough Oil to Make a Difference"

B as in B

S as in S.

The US has lots of oil. Enough to fuel 65 million cars for 60 years arguably.


But we'll never know because the likes of Nancy Pelosi and her socialist brigade of democrats insist you me, poor people and rich all pay more for gas because it would ruin her pompous constituents' view of San Francisco Bay...errr...I mean "it's bad for the environment."

Never have American's handicapped themselves and retarded their progress for such stupid reasons.

McCain vs. Obama - Money Raised

I love it when I'm told the Republicans/Conservatives in this country have all the money.


If you think for a second Obama is some innocent, poor farm boy from Illinois with no connections and therefore no strings attached, you are a fool.

The Democrats Take Over the Fed

Like the judicial system, the democrats are attempting to take what should be unbiased, apolitical institutions and turn them into political footballs, namely the Federal Reserve. Having things such as an unbiased judicial system, not to mention central bank, is vital if you desire to have any semblance of an operating country. Alas nothing is sacred to the socialists in this country.

Of course, many thanks to the MSM to bringing this to our attention, NOT!