blind leading the blind Re: [LINK] Airport to tag passengers

Adam Todd link at
Tue Oct 17 18:29:03 AEST 2006

At 05:33 PM 17/10/2006, Frank O'Connor wrote:
>At 8:20 AM +1000 on 17/10/06 you wrote:
>>Adam Todd [link at] wrote:
>>>  >Profit is the bit left in your pocket after you have exchanged something
>>>  >for more than its value. That's its definition, Vic
>>>  Ouch!  That's a nasty definition!  I thought profit was a god given right?
>>what comedy. I cant believe that so many supposedly intelligent people
>>are in fact so economonically and politically retarted. its clearly the
>>blind leading the leading the blind here.
>>a business has input costs and output costs. profit is an output cost
>>representing the cost of risk adjusted capital (dollar or
>>human), either returned to shareholders or reinvested.

ROFL!  Yeah risk is a major factor when you have a father like mine 
ensuring that everything you do is reversed to total demise because he 
doesn't want you to get ahead!

>You're obfuscating here, my Bucko ...

He is!  I'd certainly not say profit is associated with risk, in any 
fashion.  Perhaps if you apply it to the loose concept of a persons 
physical involvement in a job, the higher the risk the higher the pay, but 
when it comes to 100,000 WX11's for $1 each of 100,000 WX11's for $1000 
each, the profit has nothing to do with the risk!  Merely what the seller 
of the WX11 is prepared to put them to market for and how much the consumer 
is prepared to pay, depending on how required the WX11 is to their 
survival, or these days, "status"

I still don't have a 108 cm Plasma!   All those poor people who bought them 
for $15,000 only a few years ago, and all those silly guppies that have to 
have them today!  At least everyone they buy reduces the price and when the 
world finally settles on standards and broadcast formats, I'll buy the one 
that is proven :)

Like Blueray!

>... using the magic of double entry accounting. You're a bureaucrat in the 
>making aren't you, Vic?

<rofl>  I don't think it has much to do with double entry!  There is no tax 
category for "risk" :)

>For a company/trust or other entity profits returned to 
>shareholders/beneficiaries or whatever represents an output ... but it's 
>an output represented on the balance sheet as funds returned to 
>shareholders/beneficiaries or whatever on the debit side.

And it's TAXABLE!

>>this inconvenient truth has to be ignored by commie because commie only
>>knows one correct set of values, his or her own. commie of course loves
>>to inflict this set of righteous values because commie is an elitist, and
>>the more intelligent commie is, the more convinced that he or she is
>>correct and that everyone else needs to follow the correct set of values.
>Putz. Someone disagrees with the 'great Vic' and he's a communist?

Me?  Communist!  Gawd no, I'm probably more a socialist!  (Of sorts, the 
real kind, not the pretend anti-capitalist kind)

It was said to me recently that my views for a society or community are 
similar to those of groups in Israel that work together using all their 
skills within the community to the benefit of the community.

We don't have that in Australia these days.  No one in a community knows 
anyone, unless they want to have some kind of artificial status and 
certainly you don't see people in a few blocks of suburbia getting together 
to build houses, make products, sell products to other communities, and so on.

Sad really.  I can see that such a community would have a zero unemployment 

>Me?... I like profit, Vic. I live on my profits - but I don't equate them 
>in any way, shape or form with 'value'

What about the human services side? Selling a products, I agree, it's not a 
"value" it's a mark up, but if you do a job for $0 and the same job for 
$5000 and the only cost if you own personal time and energy, is it not a 
"value" issue?

Then again, I guess you have to buy food :)

>>rather the blind keep parading their ignorance in trully embarasing
>>fashion to the other blind.
>Vic ... if you're gonna delve into areas you don't understand ... like 
>accounting and a host of other disciplines - at least give us the full story.

He did!

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