People, and businesses and governments and unions, cannot run themselves solely on gaming. Oh, I know, the intellectual view of the world says that we're all in this big game (in actuality, a fault of hyper-rationality). Now, of course, that game abstraction might have its usefulness, such as in discussing near-zero (briefly you win, I lose, which has morphed to this: heads, I win; tails, you lose) as the reality, with greed in the game, but it does not come near to the truth of the matter.
Truth? Yes, we'll defer this (remember, all modern arguments, like our debt, gets punted down the road), but every living human knows her/his being (wait! that's not entirely true in some senses, but it is from the sense that we'll expand upon in time -- pause, to nod to a niece's thoughts on Baruch: I feel, therefore I am).
Intellectualism has thrown out intuition which is one of our best characteristics, in some senses (pun intended). It ought to be trained and is in special cases. But, we need it to be more generally used (nose to smart device is not it, folks). The role of intuition (think nose - so that we can smell rats and crap and such) has been subsumed under a mathematical cloak that leads us only to perdition-laden paths that are associated with uncontrolled, and uncontrollable, computational states (in the many senses, to boot).
Anyway, we need some speculation as the limit of prediction. But, forecasting can be more robust than not. In terms of money (finance), we need to listen to Minsky's notions.
That is, speculation leads to froth (and the rich pulling off the top), by necessity (we need to understand these phase issues -- which seem to be like the physical types with which we are so familiar). For most of us, we need to know that we can get what we need when we need it, assuming the monies are ours or due (even something deferred from before (see comment on unions, below) -- we need to get the sticky fingers out of the pot, yes fat cats, namely you). And, the other side of that is a sure, small return beats a large uncertain return any time (except for the lucky (very few) who ought not be considered examples to follow, by any means). What did someone at golden sacks say? Paraphrase: I would rather lose my reputation than my money; I can regain the former; the latter is gone (meaning, harder to re-acquire) if I lose it.
Speaking of the deferred, such as unions deal with, they ought to have a basis that can be actualized. You see, the fat cats get their take now (we'll explain why ad infinitum). Others hope that they can get their reward as promised (ah, so many issues here). It's something like this, now: promise the moon, but deliver a cow patty.
Pause, again, to reflect on 18K jobs lost. Too, the disappearance of a wonder bread, Nature's Pride.
Union guys/gals, tell me this: Why do your leaders live like the fat cat bosses? They ought to be in the trenches with the membership. Fact is, the bosses ought to be able to do the work that they direct, to boot (see below, about the O-series).
Unfortunately, we've put many people into the boat of losing (their all) due to the ignorance (or greed) of others who are not following any notion of duty, fiscal or otherwise, other than to their little selves (I say, draft their asses into the service -- enlisted, not officer -- this is a subject that I'll debate -- all officers ought to spend a significant stint as enlisted prior to their being ordained as the best into the upper class/crust).
The crux, in part? Simple living, for one thing (why is it that General officers think that they are Pharaohs or something similar?). Those whose outflow (as in, outrageous expenditures on their lavish ways) is way beyond anything rational always need to have a crooked system (with risk in their favor) in order to get their large returns (hence, book cooking, et al). With Kings and bullies, of course, it was taking from the hapless (usually way beyond the person's capability for sustenance - the result, one less peon).
Yes, living within reasonable means is important. For another, no debt unless it's combined with collateral (of a nature that is not froth -- sheesh). There are more, of course.
It's crappy, people. Always has been. A mature human race would dampen that idiocy (along with a whole bunch more) which seems to be glorified. We'll get to that as there is more of this than those related to financial matters.
05/22/2013 -- Need to look at the cosmology of business (Remarks this day).
12/13/2012 -- Don't know how long this page will be there, Daily Ticker. But, when I looked, 69% had said 'no' as to whether Ben has helped.
11/30/2012 -- Baruch's views can be used to help found the necessary truth engineering framework.