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(Reason Magazine)   Government Accountability Office counts up the number of federal jobs cut by the devastating evil budget sequester, and finds...one   (reason.com) divider line 255
    More: Followup, Government Accountability Office, Office of Management and Budget, Stephanie Cutter, evils, austerities, federal employees, Congressional Budget Office  
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1075 clicks; posted to Politics » on 08 May 2014 at 3:17 PM (16 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-05-09 04:00:34 AM

lennavan: DrPainMD: You can verify it for yourself. Hire a guy to spend all morning digging a hole in your yard, and all afternoon filling the hole back in. Pay him a living wage. See where it gets you.

Tomorrow, hire a guy to build you a table. Pay him a living wage and put the table in your dining room, to use for years to come. Which job added to the economy and which job didn't.

If you think that both jobs added to the economy evenly, show your logic.

So uh, which job in the economy is equivalent to hiring a guy spending all morning digging a hole and then all afternoon filling the hole back in?

It's teachers isn't it?


I actually just witnessed that exact scenario, only worse. The digger sat around doing nothing for a couple of hours or so between making the hole and filling it in. AND got paid. Now, mind you, a bunch of other guys installed a new septic tank in the hole, but HE didn't! Parasite!
 
2014-05-09 07:20:03 AM

Fart_Machine: Debeo Summa Credo: HotWingConspiracy: Debeo Summa Credo: Just ask yourself: if the business model of Bain Capital was to leverage up the companies, dividend the proceeds to themselves, then default on the debt leaving a worthless carcass of a company, why would anyone lend to them?

Are you contending that this doesn't happen?

No, like I said PE has some losers that might cause losses to lenders but it's not the business model or plan, or nobody would farking lend to them.

Whether the company sinks or swims isn't what makes money with PE.  It's whether the PE firm made money on the deal.  That they sucked the company dry and discarded it is irrelevant.


"Sucking the company dry" isn't a valid business model for a PE firm.

They try to buy undervalued assets using leverage, improve profitability, and sell a now more highly valued company. Then the PE firm takes a portion of profits (as well as a management fee).

There are bad deals, where lenders took losses, but those aren't the norm otherwise lenders wouldn't do business with the PE firms and the industry would go away.

You guys' simplistic view of PE firms is inaccurate. You've been lied to.
 
2014-05-09 10:13:03 AM

Debeo Summa Credo: Fart_Machine: Debeo Summa Credo: HotWingConspiracy: Debeo Summa Credo: Just ask yourself: if the business model of Bain Capital was to leverage up the companies, dividend the proceeds to themselves, then default on the debt leaving a worthless carcass of a company, why would anyone lend to them?

Are you contending that this doesn't happen?

No, like I said PE has some losers that might cause losses to lenders but it's not the business model or plan, or nobody would farking lend to them.

Whether the company sinks or swims isn't what makes money with PE.  It's whether the PE firm made money on the deal.  That they sucked the company dry and discarded it is irrelevant.

"Sucking the company dry" isn't a valid business model for a PE firm.

They try to buy undervalued assets using leverage, improve profitability, and sell a now more highly valued company. Then the PE firm takes a portion of profits (as well as a management fee).

There are bad deals, where lenders took losses, but those aren't the norm otherwise lenders wouldn't do business with the PE firms and the industry would go away.

You guys' simplistic view of PE firms is inaccurate. You've been lied to.


Then you're hopelessly naive then. It's why many of these companies went bankrupt after Bain took them over.
 
2014-05-09 11:37:49 AM
Pain tagged out, Debea tagged in, naysayers still whargarbll. Yawn.
 
2014-05-09 12:21:07 PM

DrPainMD: Lando Lincoln: DrPainMD: Jobs that don't produce a good or service with a realized market value greater than the cost of production (and most government jobs produce $0 worth of goods or services) are parasitic and harm the economy. How is this so hard to understand?

It's not hard to understand if you're an ignorant twat.

Give us some examples of these "parasitic" jobs.

Any job that doesn't produce a good or service that has a realized market value greater than the cost to produce it.

If ten DEA agents, at a cost of $300 each, spend all day burning a marijuana field containing $500,000 worth of weed, what is the effect on the economy? Show your work.


DEA agents are paid to enforce our laws. You don't like the law? Then petition the government to change it. Don't blame the law enforcers. The people we pay to enforce our laws are "parasites?" REALLY?

You sound like a pot-smoking anarchist.
 
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