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View Diary: Cory Booker Just May Have Done President Obama a Favor (138 comments)

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  •  As an aside, I can't stand Facebook (9+ / 0-)

    Not just what it's about, but how it's designed. I makes no sense to me, the interface, the menus, the links. It's like trying to find something at a Walmart that's still under construction with no one around to help you.

    Yeah, private equity doesn't care about product, just profit.

    "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

    by kovie on Tue May 22, 2012 at 09:19:29 AM PDT

    •  My aging brain has a tendency to (6+ / 0-)

      assume the fault of being overwhelmed by new stuff. I have refused to do so for Facebook. It just runs you around in circles trying to get where you want. I decided it is not stupid design, it is intentional - to run you past more ads, etc.  Profit for FB is in ads and selling our info.

      "People, even more than things, have to be restored, renewed, revived, reclaimed and redeemed; never throw out anyone. " Audrey Hepburn "A Beautiful Woman"

      by Ginny in CO on Tue May 22, 2012 at 09:35:19 AM PDT

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      •  I still don't really get the appeal of FB (6+ / 0-)

        for adults. It's for shallow throwaway chit chat with people you know, because no adult in their right mind would have a serious discussion on it for all the see. Most teens don't have serious discussions (yet), so I can see the appeal to them.

        Hey look, we had Domino's today! Look at little Jimmy petting Baxter! Bejeweled!

        Why on earth do I need that?

        "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

        by kovie on Tue May 22, 2012 at 09:40:23 AM PDT

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        •  Same here. I am lousy at small talk (1+ / 0-)
          Recommended by:

          in person. The one instance I heard of it being effective was when a mid to late 30 something woman passed away after being in Hospice for several weeks. Friends were able to make supportive comments on her page for husband and daughter.

          I am getting really tired of being asked to 'like' a business. Especially when it is part of getting a coupon or discount.

          Feeling like I am becoming more and more a crochety old lady. I don't have a lawn, and when I did, I NEVER yelled at anyone to get off  ;)

          "People, even more than things, have to be restored, renewed, revived, reclaimed and redeemed; never throw out anyone. " Audrey Hepburn "A Beautiful Woman"

          by Ginny in CO on Tue May 22, 2012 at 09:59:20 AM PDT

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          •  Talk about hitting home (1+ / 0-)
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            Ginny in CO

            The one and only reason I joined FB was to be able to view my sister's FB page after she suddenly and unexpectedly passed away several years ago in her late 30's. By the time that I joined her page had already been hidden by her husband, but I stayed on because friends of hers had set up a memorial page.

            For such uses I can see being on FB. But for the trivial stuff, I have better things to do with my time. Plus, in my case, because of why I joined, engaging in trivial chit chat just seems disrespectful to my sister and the people who honored her memory on FB and elsewhere, so I decline to do so.

            "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

            by kovie on Tue May 22, 2012 at 11:03:11 AM PDT

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        •  I can find the same level of discourse on my fb (0+ / 0-)

          as I do here.  it's not all shallow discourse, c'mon.

          you don't think people are talking about the same things we are here?

          quite a few of kossacks are on my fb, come to think of it.

          This comment is dedicated to my mellow Adept2U and his Uncle Marcus

          by mallyroyal on Tue May 22, 2012 at 01:34:04 PM PDT

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    •  Well...and no I didn't buy stock.. (1+ / 0-)
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      but I will say that I originally opened an account almost a couple of years ago on FB when I was doing volunteer pr for our local animal rescue.  It's actually been a big help in spreading the word and pics about pets who need adopting.

      I also use it a great deal for poliltical networking...

      but to each their own...

    •  here's a good (1+ / 0-)
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      article on your 'aside' which actually is quite relevant to the private equity part of our economy. whether it's our sides 'private equity' or the R's they all own the place and do not work for any kind of an economy that works for ordinary people.

      Facebook stock nosedives: No sympathy for foolish stockholders
      By DJ Pangburn 1 day ago

      The legacy of Facebook’s IPO (Initial Public Offering) will be one in which early investors (including Facebook employees) and underwriters like Morgan Stanley created a bubble, as I noted nearly a year and a half ago, to sell when expectations were artificially high.

      Some will say that this was their right as early investors—they deserved to reap the profits. To that I say, bollocks. Sure, early investors and underwriters, the people who saw something in Facebook early on, are entitled to a nice pay day, but not when they are selling shit painted with gold.

      Perhaps that is too harsh a characterization of Facebook. To Facebook’s credit, the now public company is approaching 1 billion users, it’s a treasure trove of user data that can be sold to advertisers, and Mark Zuckerberg & Co clearly have visions of glory for what the company can be, not what it is (which appeals to investors). Admittedly, Facebook is a great place to share videos, music and news, as well as stay connected with friends and family.

      But $104 billion for this social media ecosystem? Something stinks to high heaven

      Bain is an equal opportunity donor and has pumped money to both R's and D's. They are of course a vampire squid on humanities face but so is Goldman Sachs and Chase.. Bookers sin seems to be puncturing the campaign meme and stating his belief that 'America does not disparage wealth creation' My vulture capitalist's are classier the theirs doesn't seem like a credible populist campaign frame.

      Bain gives more campaign money to Democrats than it does to Republicans
      By Alexander Bolton - 01/19/12 06:30 AM ET

      Democrats have accepted more political donations than Republicans from executives at Bain Capital, complicating the left’s plan to attack Mitt Romney for his record at the private-equity firm.

      During the last three election cycles, Bain employees have given Democratic candidates and party committees more than $1.2 million. The vast majority of that sum came from senior executives.

      Republican candidates and party committees raised over $480,000 from senior Bain executives during that time period.  

      •  Absolutely zero wealth is created by IPOs (1+ / 0-)
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        Rather, existing wealth is merely transferred from one set of people and entities to another, some speculatively (and either profitably or not), others with a view towards longer-term investment. But an IPO merely raises money for a company, with speculators exchanging existing wealth using it as a basis for doing so.

        It's what a company ends up doing with the proceeds of an IPO that creates wealth--or not, depending on how things turn out. Why FB needed this IPO is beyond me, given that it already sits on a huge pile of cash and has relatively low operating expenses. It certainly didn't need the extra cash to operate or expand.

        Most like this was done for three other reasons.

        One, to generate huge IPO fees for MS. Two, to provide yet another unproductive opportunity for trading firms (like MS) to make tons of money on speculation both on trading fees and on actual trading for its own account. And three, to allow FB to invest other peoples' money in risky expansion efforts instead of its own.

        Unnecessary IPOs such as this one that generate massive trading activity on day one are a net negative for the economy and yet another unnecessarily risky thing that the financial sector engages in purely for profit, and are yet one more thing that I think the feds need to look into vis a vis finreg.

        Why does a hugely successful company with debatable future revenue growth potential need outside cash that it already more than has for possible expansion needs? Given that FB is a media company itself, and that the media overhyped its IPO, isn't there potential collusion here in a pump and dump sense?

        This stinks both in the instance and systemically. I've worked for some of these companies and see how they operate from the inside. They're looking to make money any which way they can, not just whether it's productive or parasitic, but whether it's sustainable or systemically risky.

        Maybe someone should look into that?

        "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

        by kovie on Tue May 22, 2012 at 12:16:37 PM PDT

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        •  The definition of growth (0+ / 0-)

          has a whole different meaning in the financial markets. What they are growing seems to be toxic to any real economy that we all have to live and work in. Why it is touted as the inevitable global way forward after it failed miserably is understandable if your part of the ownership class, but to most people just isn't believable with good reason. The poll on the front page this morning shows that people are aware of this.

          What do you think is the bigger problem in this country—unfairness in the economic system that favors the wealthy or over-regulation of the free market that interferes with growth and prosperity?

          Unfairness: 56 (55)
          Over-regulation: 34 (35)
          Both: 5 (5)

          Seems like a really strange partisan political squabble to get into in this election. Campaign rhetoric that is unhinged from any meaningful policy now and in the future only makes people less likely to be 'enthusiastic'. What choice do we have is something I hear a lot from all sides of the political spectrum. Sure the Republican's are bat shit crazy and sadistic to boot but to portray our current D corporate party as fighters for economic equity and the common good might just piss off a lot of likely voters and put a real dent in their fear of the right wingers waiting in the wings.

          •  Growth is growth, a rise in GDP (0+ / 0-)

            What speculators call growth in this instance isn't growth but transfer. When one entity gets money from another entity with nothing of value being made or added in the process, it's not growth, but transfer. These people make bets with each other on the economy with nothing real or valuable being created in the process.

            I'm not against trading or speculation, mind you, as it serves a useful and even essential part in our overall economy. But not to this extent, or in this way. Done right, speculation makes a healthy economy possible. Done wrong, it consumes it. We have the latter these days, and the banks won't stop it until they're made to.

            Dems have to properly frame their arguments against Romney and the GOP as not being against capitalism or free enterprise, but against those who prey upon them, and thus being the saviors of both. This is a framing argument.

            "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

            by kovie on Tue May 22, 2012 at 02:29:14 PM PDT

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