Chat about Financial Advice, was Re: Marxist Financial Advice
Marx made a killing on the stock market one time according to Tussie's biographer, slavers,pirates and all behind that historic market. CB by Carrol Cox Sabri Oncu wrote: This is not diversification at all. It is a single bet, a bet on the US dollar hegemony, whose future is more uncertain than ever. Let's remember that very few if any of the subscribers to this list have much in the way of discretionary investment. So the question (which probably ought not to have Marx's name tagged to it) simply concerns a chat among fellow leftists about how people in their situation can have a trifle better chance of surviving at least until dementia sets in and medicaid takes over. And the first question emphasized the ethics of the topic. I argued at the time that there was no ethics to it. That is, that (leaving aside organized boycotts) progressive politics placed no constraints on how one spent or saved one's money. There would be no _political_ or _ethical_ constraint in investing in Shell, in investing in a napalm manufacturer, in shopping at Wal-Mart or Naiman-Marcus, etc etc. (Assuming no organized boycotts, which one honors.) Carrol Sabri
Re: Chat about Financial Advice, was Re: Marxist Financial Advice
Carrol Cox wrote: Let's remember that very few if any of the subscribers to this list have much in the way of discretionary investment. How do you know? A lot of PEN-Lers are professors with retirement accounts that invest in stocks and bonds. Many, maybe most, are in the upper quintile of their national income distribution. Even the righteous S.artesian probably has a pension from the railroad. So these aren't just idle theoretical speculations. Doug
Re: Chat about Financial Advice, was Re: Marxist Financial Advice
I am not righteous. I put two daughters through college. I know a lot about investing-- none of it has anything to do with Marxism. Nobody's against pensions. Railroad pensions, for your edification, are not self-direct investments. They are defined benefit plans. My only point was that Marxist financial advice re investing is an oxymoron. Real Marxist financial advise would be limited to seize the banks, cancel the debt. - Original Message - From: Doug Henwood [EMAIL PROTECTED] To: [EMAIL PROTECTED] Sent: Saturday, June 26, 2004 11:01 AM Subject: Re: [PEN-L] Chat about Financial Advice, was Re: Marxist Financial Advice Carrol Cox wrote: Let's remember that very few if any of the subscribers to this list have much in the way of discretionary investment. How do you know? A lot of PEN-Lers are professors with retirement accounts that invest in stocks and bonds. Many, maybe most, are in the upper quintile of their national income distribution. Even the righteous S.artesian probably has a pension from the railroad. So these aren't just idle theoretical speculations. Doug
Re: Chat about Financial Advice, was Re: Marxist Financial Advice
sartesian writes: I know a lot about investing-- none of it has anything to do with Marxism. for what it's worth, pen-l isn't self-defined as Marxist. I'm also not sure that Marxist financial advice is necessarily oxymoronic. There may be some stuff in the volume III discussion of money and finance that says something different that might be relevant to personal finance, though I doubt it. jd
Re: Chat about Financial Advice, was Re: Marxist Financial Advice
- Original Message - From: Devine, James [EMAIL PROTECTED] To: [EMAIL PROTECTED] Sent: Saturday, June 26, 2004 12:14 PM Subject: Re: [PEN-L] Chat about Financial Advice, was Re: Marxist Financial Advice sartesian writes: I know a lot about investing-- none of it has anything to do with Marxism. for what it's worth, pen-l isn't self-defined as Marxist. _ Really? There's a graphic of Marx on the home page. The query that triggered this all was for Marxist Fianancial Advice. I'm also not sure that Marxist financial advice is necessarily oxymoronic. There may be some stuff in the volume III discussion of money and finance that says something different that might be relevant to personal finance, though I doubt it. Nothing I've read in Vol. 3 can be considered advice for investors. jd
Chat about Financial Advice, was Re: Marxist Financial Advice
Sabri Oncu wrote: This is not diversification at all. It is a single bet, a bet on the US dollar hegemony, whose future is more uncertain than ever. Let's remember that very few if any of the subscribers to this list have much in the way of discretionary investment. So the question (which probably ought not to have Marx's name tagged to it) simply concerns a chat among fellow leftists about how people in their situation can have a trifle better chance of surviving at least until dementia sets in and medicaid takes over. And the first question emphasized the ethics of the topic. I argued at the time that there was no ethics to it. That is, that (leaving aside organized boycotts) progressive politics placed no constraints on how one spent or saved one's money. There would be no _political_ or _ethical_ constraint in investing in Shell, in investing in a napalm manufacturer, in shopping at Wal-Mart or Naiman-Marcus, etc etc. (Assuming no organized boycotts, which one honors.) Carrol Sabri
