Comments on: Geoff Colvin With Some Solemn Thoughts http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Fri, 25 May 2012 02:50:51 +0000 hourly 1 http://wordpress.org/?v= By: JLP http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/comment-page-1/#comment-233482 JLP Wed, 13 Feb 2008 17:18:02 +0000 http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/#comment-233482 Fred, Yes, you are correct. Growing the pie would be the best answer. I don't think raising taxes is the answer. I WISH President Bush would have had the guts to cut spending when he cut taxes. I would be willing to bet that there's A LOT of fat that could be cut from the budget. Nobody wants to do it though because it's unpopular. Fred,

Yes, you are correct. Growing the pie would be the best answer.

I don’t think raising taxes is the answer. I WISH President Bush would have had the guts to cut spending when he cut taxes. I would be willing to bet that there’s A LOT of fat that could be cut from the budget. Nobody wants to do it though because it’s unpopular.

]]> By: Fred http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/comment-page-1/#comment-233480 Fred Wed, 13 Feb 2008 17:12:41 +0000 http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/#comment-233480 JLP, Isn't there a third option, that is, to grow the pie? JLP,
Isn’t there a third option, that is, to grow the pie?

]]> By: Beth http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/comment-page-1/#comment-233429 Beth Wed, 13 Feb 2008 15:51:37 +0000 http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/#comment-233429 JLP, If I recall correctly, I don't believe they gave any specifics. However, I still felt the message was strong and sincere. At least someone in politics is thinking along the 'right' path. There are numerous implications no matter which direction we go. Either way, our country needs to learn how to produce and use what we have at our disposal...and not rely on others so frequently. As consumers, the mindset needs to be re-taught in regards to how we live. That's where the 'getting back to the basics' comes into play. JLP,
If I recall correctly, I don’t believe they gave any specifics. However, I still felt the message was strong and sincere. At least someone in politics is thinking along the ‘right’ path. There are numerous implications no matter which direction we go. Either way, our country needs to learn how to produce and use what we have at our disposal…and not rely on others so frequently. As consumers, the mindset needs to be re-taught in regards to how we live. That’s where the ‘getting back to the basics’ comes into play.

]]> By: Frank http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/comment-page-1/#comment-233425 Frank Wed, 13 Feb 2008 15:41:52 +0000 http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/#comment-233425 Another interesting column! These trends are not new, they have been in place for a very long time. What makes anyone think they are going to change? What would it take to get people to change and care? Some argue they will not... that the present course is set. Some argue that it will take shocking events to get people to change and some argue that people will change even then, only if they have the will. Is this a time when America should be watching it's back and preparing for an intensely comepetitive future? Do you see America doing that? As an example, look at Warren Buffet and Bill Gates... their philanthropic news is as popular, if not more so, than their wealth building activities. Could their business ventures be nothing more than a tax scheme or redistribution scheme... collect money from American consumers and give it away on social causes (and not necessarily to US causes) the same way the US government does? I read an article recently about the number of employees that Buffetts businesses employ and the profits they generate per employee. Is our nation so concerned about leveling economic equality that it has lost its edge? Could it be that long held policy is what is really hurting America? What do these things say about allocation of resources and capital and wealth? Is the tide going out for the USA? Has American lost it's will? We do not seem to have much will when it comes to saving or energy conservation and oil dependence... we shall see. As usual, thanks JLP and all for posting your thoughts. You usually have some very thought provoking posts! Another interesting column! These trends are not new, they have been in place for a very long time. What makes anyone think they are going to change? What would it take to get people to change and care? Some argue they will not… that the present course is set. Some argue that it will take shocking events to get people to change and some argue that people will change even then, only if they have the will. Is this a time when America should be watching it’s back and preparing for an intensely comepetitive future? Do you see America doing that? As an example, look at Warren Buffet and Bill Gates… their philanthropic news is as popular, if not more so, than their wealth building activities. Could their business ventures be nothing more than a tax scheme or redistribution scheme… collect money from American consumers and give it away on social causes (and not necessarily to US causes) the same way the US government does? I read an article recently about the number of employees that Buffetts businesses employ and the profits they generate per employee. Is our nation so concerned about leveling economic equality that it has lost its edge? Could it be that long held policy is what is really hurting America? What do these things say about allocation of resources and capital and wealth? Is the tide going out for the USA? Has American lost it’s will? We do not seem to have much will when it comes to saving or energy conservation and oil dependence… we shall see.

As usual, thanks JLP and all for posting your thoughts. You usually have some very thought provoking posts!

]]> By: CD Rates Blog http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/comment-page-1/#comment-233414 CD Rates Blog Wed, 13 Feb 2008 15:32:33 +0000 http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/#comment-233414 Innocent ownership isn't a bad thing, but it would be better if we owned more ourselves. Of course that would take discipline, which we sorely need. Ownership with nefarious goals is another matter. But that is very hard to protect against. Foreigners may not be able to vote, but if they hold enough of a company they can certainly apply pressure. Our weakness is also our strength. Great things have been accomplished by being mostly an open nation. Potential for great harm is unfortunately the trade off. Innocent ownership isn’t a bad thing, but it would be better if we owned more ourselves. Of course that would take discipline, which we sorely need.

Ownership with nefarious goals is another matter. But that is very hard to protect against.

Foreigners may not be able to vote, but if they hold enough of a company they can certainly apply pressure.

Our weakness is also our strength. Great things have been accomplished by being mostly an open nation. Potential for great harm is unfortunately the trade off.

]]> By: JLP http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/comment-page-1/#comment-233411 JLP Wed, 13 Feb 2008 15:22:41 +0000 http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/#comment-233411 Beth, I don't know who said it but they left out the important details: 1. Do we cut spending? If so, where? 2. If we don't cut spending, do we raise taxes? If so, how much and who's impacted. Beth,

I don’t know who said it but they left out the important details:

1. Do we cut spending? If so, where?

2. If we don’t cut spending, do we raise taxes? If so, how much and who’s impacted.

]]> By: Beth http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/comment-page-1/#comment-233346 Beth Wed, 13 Feb 2008 13:43:14 +0000 http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/#comment-233346 I think one of the recent Presidential candidates (I don't recall which one) said it best...if we (as a country) expect our residents to save money and relieve their own, personal debt...then we (as a government) must do the same and expect no less from ourselves. As individuals, we've over consumed and continue to do so...if we don't have all of these 'things,' then we pout (in general). However, we must turn this around and learn to be grateful and appreciative of what we do have...back to the basics of Freedom, Love, Pride, etc. We need the 'things' that our country was founded on...not the 'things' of today's world. I think one of the recent Presidential candidates (I don’t recall which one) said it best…if we (as a country) expect our residents to save money and relieve their own, personal debt…then we (as a government) must do the same and expect no less from ourselves. As individuals, we’ve over consumed and continue to do so…if we don’t have all of these ‘things,’ then we pout (in general). However, we must turn this around and learn to be grateful and appreciative of what we do have…back to the basics of Freedom, Love, Pride, etc. We need the ‘things’ that our country was founded on…not the ‘things’ of today’s world.

]]> By: Adam http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/comment-page-1/#comment-232892 Adam Wed, 13 Feb 2008 00:08:58 +0000 http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/#comment-232892 Wow deleront, that is a very simplistic and ultimately inaccurate view of what JLP was trying to convey. It has nothing to do with foreigners meddling in politics and especially not their inability to vote here. Considering the fact that we all learned that a foreigner can not vote here in elementary school, I highly doubt financial writers would overlook this fact. As for what the point really is, and I think Andy might have missed this as well, is if the typical and traditional game pieces of capitalism, such as real estate and business ownership, is taken out of direct play in our inner circle, then they really become nothing more than a way for outsiders to tap the potential out of our economy. With more and more money flowing out and less being saved in order to be put back in (through ownership), as JLP said, we become nothing more than wage earners. Wow deleront, that is a very simplistic and ultimately inaccurate view of what JLP was trying to convey. It has nothing to do with foreigners meddling in politics and especially not their inability to vote here. Considering the fact that we all learned that a foreigner can not vote here in elementary school, I highly doubt financial writers would overlook this fact. As for what the point really is, and I think Andy might have missed this as well, is if the typical and traditional game pieces of capitalism, such as real estate and business ownership, is taken out of direct play in our inner circle, then they really become nothing more than a way for outsiders to tap the potential out of our economy. With more and more money flowing out and less being saved in order to be put back in (through ownership), as JLP said, we become nothing more than wage earners.

]]> By: dawn http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/comment-page-1/#comment-232872 dawn Tue, 12 Feb 2008 23:42:32 +0000 http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/#comment-232872 Thought provoking piece... Our founding forefather's must be rolling over in their graves, at the path our country is presently on. It's our own fault, and we need to wake up to the realities of what we have gotten ourselves into. We as a people, need to adhere to the once basic & common principles we've lost, like save - invest - and limit credit use. Thought provoking piece…
Our founding forefather’s must be rolling over in their graves, at the path our country is presently on. It’s our own fault, and we need to wake up to the realities of what we have gotten ourselves into. We as a people, need to adhere to the once basic & common principles we’ve lost, like save – invest – and limit credit use.

]]> By: Andy http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/comment-page-1/#comment-232868 Andy Tue, 12 Feb 2008 23:35:58 +0000 http://allfinancialmatters.com/2008/02/12/geoff-colvin-with-some-solemn-thoughts/#comment-232868 This makes no sense. Foreign investment in the US is extremely *good* for our economy. It's *good* that this is growing. Any other country would kill to have as much foreign investment as the US gets. Part of the reason our economy has been ok despite the housing/credit problems is increasing exports and foreign investment because of the weakening dollar. So what if America doesn't own everything anymore? This makes no sense. Foreign investment in the US is extremely *good* for our economy. It’s *good* that this is growing. Any other country would kill to have as much foreign investment as the US gets.

Part of the reason our economy has been ok despite the housing/credit problems is increasing exports and foreign investment because of the weakening dollar.

So what if America doesn’t own everything anymore?

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