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(Daily Mail)   You're not helping   (dailymail.co.uk) divider line 14
    More: Interesting, Warren Buffett, Peter Buffett, return on investments, nonprofit sector, Urban Institute, opinion pieces, eco  
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5104 clicks; posted to Business » on 04 Aug 2013 at 1:56 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2013-08-04 10:34:01 AM  
4 votes:
Wait! Upon further review (actually reading the article), he has some good points.

I retract my claim that he cares about an inheritance. He just genuinely cares about creating sustainable economic conditions for people.
2013-08-04 09:57:38 AM  
3 votes:

BunkyBrewman: Give a man to fish and he will eat for a day,teach a man to fish and he will eat for a lifetime.

/is that statement really that difficult to comprehend?


Teach a man to fish after you've used a net to empty the lake of fish and he will be a great source of slapstick humor.
2013-08-04 01:17:52 PM  
2 votes:

bunner: I have found that any statement that begins with "My dad is a big deal, and I think.." should probably have a pinch of salt added.


i105.photobucket.com
2013-08-04 10:48:06 AM  
2 votes:
Yes and no.

Giving to people is bad. Giving to systems can be good, it can be bad. It depends on the system, and how realistic you are in your expectations of what the money will be able to do.

Example: giving your dollar to the Sally Struthers-esque 'help feed a poor kid in Africa with flies on his eyes' doesn't do a damn thing but help line the pockets of the person running that 'charity'. Giving money to a starving person in the street feeds them for a day, but it also helps them to be justified in thinking 'waiting for people to give me things is a proven business model, if I'm just willing to be miserable and patient in the interim'.

However, giving money to some charities is extremely effective. The Carter Foundation has just about entirely eradicated the Guinea worm, a horrible parasite that has been afflicting humanity since at least Biblical times. Polio is on the way out. Real efforts are being made at doing the same to malaria. There's simply no way that giving a billion dollars to a group like that wouldn't make a difference.

Or, you can be indirect. Giving a $2bn endowment to your city orchestra may not feed the starving, but it will damn sure provide beautiful music for generations to come.

You just have to do your homework, and treat it like any other business decision.
2013-08-05 12:13:58 PM  
1 votes:

o5iiawah: ajgeek: So no one else has figured out a solution to the labor glut yet?

Clearly the answer is Amnesty, a process which would legalize 11-20M workers to bring them formally into a labor pool already experiencing 7.5% unemployment to go along with depressed wages and a negative savings rate.



The sad part is that you think those immigrants are not already here working.   Really, it's sad that you are so incredibly stupid you believe that 11-20 million people will magically appear out of thin air if Congress passes immigration reform.  It's disappointing that you are so amazingly, mind-bogglingly dense that you don't realize that the people who will receive amnesty are already here, already working, and the only thing that will change is that they won't be working under the table any more will have to pay income tax.

But then, it's not surprising.  You are a very, very stupid person.
2013-08-04 03:31:55 PM  
1 votes:

brantgoose: There are political and economic factors making it impossible to eliminate all poverty.


And a whole lot of legislation designed to make sure that even people who come up with viable personal solutions can't exercise them without getting in hot water with revenue farmers, zoning wankers, and a horde of people who contribute nothing but gray and mind stares at the people who would try and support themselves in a manner that doesn't give them a cut.
2013-08-04 03:27:54 PM  
1 votes:

BunkyBrewman: Give a man to fish and he will eat for a day,teach a man to fish and he will eat for a lifetime.


Dynamite the lake and you'll have excellent returns for the next quarter.
2013-08-04 01:40:04 PM  
1 votes:

rev. dave: What will end the greatest amount of poverty is the ending of corruption.  Corrupt politicians and agencies are what perpetuates poverty.
Clean out what is rotten then something healthy can grow.


Can you imagine what would happen to the GPD if, for one year, nobody skimmed, conned, finagled, pork barreled, overcharged, took a few home that they wouldn't miss or inflated contracts?  Just did what the f*ck they told the boss they would do?  Just cut the sh*t and took home what they honestly earned?
2013-08-04 11:26:33 AM  
1 votes:
No business, even a non-profit, will ever completely eliminate the need for its own existence, because the people who run the business would rather perpetuate the problem that creates the need than put themselves and their colleagues out of a job. Charities, pharmaceutical companies, pretty much all bureaucracies are examples.
2013-08-04 11:20:34 AM  
1 votes:

Nabb1: Uh, giving poor people who have no experience managing money $10,000 (which doesn't go very far these days) is to going to get them put of poverty. They'll probably pay off some debts and buy some sort of consumer goods with whatever is left.


Sounds a lot like the Bush stimulus checks. I swear to god, that was the dumbest things I've ever seen in my life. I was sitting there, looking at the National Debt and watching them give out checks because our current account was in surplus. Seriously, what a waste of money. And $300? Wow. Hooray!

Simplified analogy, agreed. That one just made my head spin. I also don't agree with giving them direct money, but his idea of teaching them about money is something we should have a class for in every high school to make sure that even if kids have financially illiterate parents, why try to give them some baseline.

I remember being taught to balance a checkbook in high school. I wonder how often that occurs today.
2013-08-04 11:14:52 AM  
1 votes:

bunner: The most charitable thing you can do for a poor family is to give them 10,000.00 out of your stash of millions under the condition that they listen while you explain how money works.  And answer a quiz.  Downside, finding out how money actually works is like accidentally walking in on your mom while she's taking a dump.  The "money fairy" that we accuse the poor of waiting on either has to stop coming down the billionaires' chimneys or start expanding her route.


Uh, giving poor people who have no experience managing money $10,000 (which doesn't go very far these days) is to going to get them put of poverty. They'll probably pay off some debts and buy some sort of consumer goods with whatever is left.
2013-08-04 10:56:27 AM  
1 votes:
The laws suck.  Charities are only required to keep accurate books and have very low disbursements demands as to how much goes to the people they serve. Tax loopholes abound for everybody with enough money to not need them.  Charities, like any other corporate whorehouse, are largely designed to move money in one direction and have accountants and attorneys show them how to skim the cream off.
2013-08-04 10:49:20 AM  
1 votes:

Nabb1: I sort of jumped the gun, too. I wouldn't want to dissuade the wealthy from charity, but being selective and thinking about the bigger picture is certainly a good idea.


Well, you actually hit the nail on the head. Carnegie focused his money very well and it had quite a lasting impact on humanity. He was simple and focused. I think you can say the same about Buffett and Gates. Gates especially with his focus on trying to cure curable things. All he does is provide the logistics to make sure impoverished people can get things we can get at any clinic or hospital. Sure, he has education as a goal and that will require ALL of use to get on the same page about how we should educate our kids. Lot of money on lobbying, compromising, testing things, failing succeeding... You could call that one a pipe dream, but I'm glad he's at least making the effort.

No, Buffett's kid is making a good point. Deploying capital in a focused effort on a single thing can really do wonders. But you have to have the right people to do it who focus on it like a laser and don't think of it as a business to run in perpetuity.

For example... I like what Clooney is doing in Sudan, but at the end of the day he is basically throwing his money away. Not the direct aid to people/refugees, but his satellite and other stuff to get rid of a dictator. The only thing that would solve that is a private Army or some sovereign state deciding to take him out.

Warren's son is right about one thing, it has become big business when it should be focused on a goal and ready to close shop the second they reach that goal. Some charities are different, but I'd say the best ones would operate like a light infantry unit. Go in, destroy the problem, and evac.
2013-08-04 10:36:56 AM  
1 votes:

NewportBarGuy: Wait! Upon further review (actually reading the article), he has some good points.

I retract my claim that he cares about an inheritance. He just genuinely cares about creating sustainable economic conditions for people.


I sort of jumped the gun, too. I wouldn't want to dissuade the wealthy from charity, but being selective and thinking about the bigger picture is certainly a good idea.
 
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