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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: TobagoJack who wrote (15164)2/18/2002 7:52:12 AM
From: tradermike_1999  Read Replies (1) | Respond to of 74559
 
Hi TM, Sorry, yet more Vacation Chronicles. Just as people elsewhere are confusing gambling with investing, mistaking investing for saving, puzzling g over price vs. value, daily stock trends with economic direction, CNBC for television, in turn for entertainment, and other folks’ wives for own girlfriends, the people in Trinidad are confusing fantasy with life, and holidays for work.

Good to hear from you. Must be beautiful in Tinidad.

A relation, Tony (the 85-yr old coconut plantation owner operator whose grandmother was my grandmother’s half-sister), has revealed to me the secret to Trinidadian happiness. Apparently, the people here had taken up flex-time a few hundred years before the concept took off in progressive California, and subscribed to time multiplexing long before Maurice had gotten whiff of Globalstar. The manufacturing, farming, and physical labour oriented employees here work for a specific objective, say a new television, or an old car. They would work just enough to pay for whatever they thought they wanted, all quite modest, and then stop showing up at the job. They do not take a holiday, give notice, and are not fired. They simply show up at the company again when they feel like working some more, a few days, weeks or months later, for several months, weeks or days, replacing someone else who has similarly taken off on flex-time.

THE US used to use flex time before the industrial revolution. When the first large scale factories were set up people would still do it - work a few days, leave, come back - or leave in the afternoon and come back later. Then the capitalists figured out that they could get people to work faster and harder and sent in "scientific management" experts who used stop watches to clock worker's activities and figure out the most efficient way for them to move. Eventually this evolved into the assembly line which forced people to keep pace.


P.S. I have no clue now about what is happening in the financial markets anywhere, and get the news/analysis only via this thread and the Barrons over the weekend. Perfectly adequate. Of course, some would say we have no clue on this thread to begin with.


All you need is a chart. Looks like the US markets topped out last week and are going down to me.



To: TobagoJack who wrote (15164)2/18/2002 1:23:39 PM
From: Raymond Duray  Respond to of 74559
 
Hi Jay,

What a wonderful travel narrative. Your efforts are appreciated!

Salaams, Ray



To: TobagoJack who wrote (15164)2/18/2002 3:07:09 PM
From: elmatador  Read Replies (2) | Respond to of 74559
 
Now we have a basis to discuss economics J. Like anthropologists study the remaining tribes in remote areas to understand sociology, to understand economics you have to know nations at the very stage of development.

The guy who works only when he needs new goods is acting rationally. The only incentive for him to do work is the benefit of acquiring the good he needs.

See, if he work fulltime -western style- a great part of his income would go to pay the government machine. Government machines in underdeveloped countries are utterly useless. The guy knows that.

He knows as well that if he works fulltime, the government appropriates of part of his income, so, he only goes to work for himself. Just look to the % of the underground economy in the developed countries to see what I mean. Or look to the companies incorporating in Bermuda for another example.

Governments are the main reason for keeping people idle. Now look to a developed economy. The helicopters overflying the roads to fine speeding people. The barracks full of soldiers and weapons. The other army of bureaucrats controlling everything else. All that costs a lot of money. And who pays is the fulltime working people.

If people could appropriate of all the money they generate, of course they would work fulltime and hard. But to feed the fat cats? No way Jose