LLPOH’s Short Story on What Employers Want in Their Employees

Given the size of TBP’s readership, it seems certain that a there are several hundred members who will be seeking new employment at any given time. The intention here is to provide a bit of insight into what employers are looking for in employees, in hope that that information will assist the members to land interviews, successfully negotiate the interview, and hold the job through the crucial first few months.

As an employer, I hire employees for one reason and one reason only – to help the company make money. I believe this to be a universal truth for all employers. I understand a great many people find this truth to be distasteful, and that some greater relationship, such as mutual loyalty, should exist between employer and employee. To them I say this: what you believe matters not – this is the way it is. Live with it, or do not. If you choose to not live with it, your lives will be harder and it will impinge upon a fruitful search for employment. So in your search for work, keep foremost in your minds at all times this thought – how can I show prospective/current employers that I will help them make money?

The Application

I do not wish to dwell on this area, but will only try to provide some generic advice on what I look for when sifting through job applications.

– I look for a cover letter specific to me and my organization, and do not wish to see a form letter.
– I look for a resume that is appropriate to the position. In other words, I do not want to see a five page resume when the person is applying for a machine operator’s position. Limit the resume to no more than two pages no matter what position is being applied for. Also, get it professionally done, no typos, and printed on quality paper (I recommend something other than plain white so that it stands out).
– I do not want to see that the person has job-hopped. If you have, try to devise a means of obscuring and/or explaining this. I also do not want to see a huge list, or any list, of personal interests. It will not be a positive, and will possibly be a negative if it leaves me with the idea that you partake in dangerous activities or so many activities that they may interfere in your work.
– I want to see what skills you have, and I want to know what you have accomplished. What you were responsible for is of lesser interest to me. A lot of people are responsible for many things, but accomplish little.
– I want to see that you can help me make money.

The Interview

Following is what I want in an employee, and these are the things that the applicant needs to address during the interview:

– I want an employee that comes to work. This is the single most important thing. I repeat, this is the single most important thing. Everything else runs a distant second. You need to get the fact that you will come to work into your application. In 40 years of work I have missed the following days of work: 5 days with pneumonia, 3 days with hernia surgery, 1 day with shoulder surgery, 1 day with a temperature of 104, 2 days with food poisoning. I have no time for people that miss lots of work – especially if they miss lots of single days. Miss a week with pneumonia or surgery – fine. Miss ten days a year one day at a time? Take that crap somewhere else. Some people think that this is harsh. I do not care – not one single whit. Come to work, or get lost. My company averages less than 1.5% absenteeism, and always has. That is three days per year per person, and includes long-term illnesses. As a result, I am able to very accurately plan and schedule my business, which helps me make money and compete in a world market. (There is that thing again – money.)
If a new employee misses a day of work in the first month, I raise an eyebrow and keep an eye on what is going on. If they miss 2 days the first month, it is unlikely they will maintain their employment.
– I am not recruiting for superstars. Superstars are too rare to recruit for. I am recruiting for hard-working individuals that come to work, bring a varied skill-set, and are willing to learn. I do not want to hear that a person can do everything – it is almost always bullshit. I do not want to hear that they are quick learners. Everyone says they are a quick learner. No one is ever a quick learner. I want someone who says they will come to work every day and who says that they are willing to learn and that they will keep at it no matter how long it takes. Funny enough, it is these folks that turn into superstars. People that apply and try to sell themselves as superstars invariably overstate their cases. Sometimes they fool me, and I put these folks in jobs where I find out that they are in fact not qualified. That costs me money. That is a bad thing.

– I do not want job hoppers. If I see that a person has held 5 jobs in the last ten years, they need to explain this in detail, and to convince me that this is not going to continue. This may be hard to do. But the best way would include an explanation that they were young, immature, and have reached a point in their lives that they understand the need to be stable. I spend a lot of time and money training and recruiting new employees. I do not want to see that money wasted.

– I want employees that treat the job and business like it is their own. That is to say, they do not waste money or resources, they treat equipment with care, they produce a quality product every time, etc. I want employees that do not waste time. Every minute an employee wastes cost me approximately $1. Really. Say I have 130 employees and they all waste 10 minutes a day (I am sure it is far, far more than that) that is $1300 dollars per day wasted. Or about $300,000 per year wasted. Of my money. I can stroke out just thinking about it. So I want to hear that potential employees will not waste time, and that they will care for the business as though it is their own. So in an interview say exactly that – “I will not waste time and I will take care of your business just like it is my own”. See how fast you get hired.

– I want employees that fix their own problems. I do not want employees that bring me a never ending stream of problems they have identified. Most issues are not rocket science, and the employee can fix the problem themselves. And I do not want employees coming to me every time they have fixed a problem to crow about it. Blow your own horn, but do it infrequently. I am not blind – I can see. Let your prospective employer know you are this type person. It saves them money.

– I do not want anyone that is a pain in the ass. I want people who treat others with respect. I do not want people who are complaining all the time. I have enough trouble running a business, and do not want to be a babysitter too. It wastes my time and costs me money.

– There are two areas that every employee has absolute authority over –safety and quality. Employees are empowered to shut down any operation that is unsafe or which is spitting out bad quality. I want employees that understand that this is the case – that they are not helping me if they allow unsafe practices to continue or allow bad product to get out the door. Bad quality costs me money, as do any injuries – and injuries can even get me in severe legal trouble. I want people to keep me out of trouble.

– In interviews, I am always concerned if the applicant focuses too much on working hours/vacation days/sick leave provisions/etc. Perhaps it is all reasonable to ask, but it worries me nevertheless.

This list isn’t comprehensive, but it covers the basics. As is evident, it all comes down to money – helping the employer make it and save it. Applicants that show that they are focused on this will be successful. It will overcome a vast array of other deficiencies. For instance, I employ several ex-cons, people with learning disabilities or poor educational skills, ex-drug addicts, etc. etc. etc. For the most part, I do not care about that stuff – I care about whether they help me make money. In many cases I take a chance on people if I think they can help me make money. When I take a chance, I know that the odds are that I will not be successful – for instance, drug addicts relapse. But then again all new hires are something of a crap-shoot.
Here are some examples of how applicant have shot themselves in the foot, and lost the opportunity of a job, or have lost the job themselves:
– In an interview, the applicant told me that they couldn’t work past 3 on Friday, as he played golf then. He was stunned when I showed him the door immediately.
– A receptionist called in sick with a migraine on her first day of work. I advised her there would be no second day. She couldn’t understand it.
– A young man missed 3 days in the first month of work. When I spoke to him about it, he asked me what my problem was as “it is only 3 days in a whole month”. I showed him the door on the spot. The young man’s father showed up to threaten me for mistreating his 23 year old son. That didn’t go well.
– A painter with “10 years’ experience” baked 2 high value spray guns in 2 days. Baking the gun cooks the paint inside the gun and destroys it. Adios, amigo.
– A new hire clocked out without notifying anyone at 9 and came back at 1:30. When asked what that was about he said he had things to do. See you later.
– A new hire was leaping off the top of a dumpster onto his ass inside the dumpster “to compact it”. Do not pass go on the way out.
– A new hire emptied the trash out of his car (lunch bags/ashtray/newspapers/etc.) onto the ground in the employee parking lot. He thought that was fine. I didn’t.
– A new hire started a fire in an employee restroom as a joke. I laughed and laughed.

So, in summary, job applicants need to keep in mind exactly what the employer wants, and needs to convince the employer that he/she will deliver the goods. The employer wants someone to help make him/her money, and who will not be a pain in the ass. It really is that simple.

I hope that this is some help to those looking for new employment. I also hope that those many members with great experience can add and augment to this post. I know that many believe that the world should be a kinder, gentler place. Perhaps that is correct. But it doesn’t help today’s job applicant, who must live in the current reality.

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182 Comments
crazyivan
crazyivan
July 5, 2011 9:44 pm

“I have to bend over for evey inspector that comes knocking. I have to adjust to an endless and ever changing regulatory system.”

See, While I totally support your complaints with the bureauratic “authorities”.

You ain’t the LoneRanger. (Not that you explicitly said that)

In some industries the employee is the one with his future on the line (separate from his current employment) via a liscenced authority granted by said bureaucrats.

As a A&P and IA (inpection authoriztion) in civil aviation for some 29 years I was (not always) but usually told to sign for management’s version of aiworthy. I quit a lot of jobs in my life. Then I would go fly a sprayplane for another season and try again in the fall.

It is rampent in aviation.

See, the bosses don’t usually have the neccessary authority to actually make this aircraft “legal” again.

So while you are the employee, management makes you share this additional risk via your signature,

whether you like it or not.

Over and over, since I was 18. 54 now.

So I have had many jobs and contracts in my life. All ended the day I show up for work and saw the bottom line boarding said airplane.

It was much easier to crawl into sinle seat ag-plane and just concentrate on not killing myself.

For you that are thinkning OH POOR crazyivan, relax…

I am a organic wheat and barley farmer now.YeeHaw.

Fuckin-a
ps organic inspectors are really quite anal also- “was that a mouse over there?”

crazyivan
crazyivan
July 5, 2011 9:48 pm

Yep. That was a fucking mouse.

Jiggerjuice
Jiggerjuice
July 5, 2011 9:52 pm

Thanks for all the encouragement everyone. I like all the “it will get better”, “you will be paid more someday” happy talk.

Not to be cynical, but… Aren’t we all also prescient of the impending collapse of the US stuperstructure? Be it 2 years or 20, there is going to be a big fat collapse, isn’t there?

I’m trying to save NOW. Not for retirement or son’s college or a house. Securing survival. It’s hard to prepare properly on a limited income. I’ll bet many people haven’t even started prep. They just aren’t mentally engaged – not enough people wearing TBP t-shirts, spreading the good word. Anyway, the essence of my life boils down to SAVE SAVE SAVE… I have more in bullion than FRNs in my bank account. And in case any of you are ip tracing me, I have my sig p229 .40, too. I want to buy my wife a nice little sig mosquito, but she’s anti-gun/violence. I keep telling her when the hordes start ravaging, she will be happy that I trained her, especially if our son is at risk. She’s said she’ll leave it to me, but I like to have ALL my bases covered. The potential rampage just isn’t real in her mind – yet. She doesn’t watch the youtube videos you guys post on here. Next steps are piles of freeze dried food, the kind that expire in 25 years+… I’m just going to be embarrassed if I wake up in 2030 and I have to eat the shit before it goes bad. For some reason, though, I’m expecting it will get used. Then there’s the whole water issue. So many basic shits that cost so much! But it’s like building a foundation to move on to the next part of your life. Once I’m relatively food, water, and gunpowder secure, I’ll feel better moving on and concentrating on the other things I can get done.

Back to topic. All the jobs I got in my life so far except for one – the “benefits” processor – was through “knowing someone”. And even now, I’ve gone through multiple recruiters – Bowdoin Group, AdvantageResourcing, Michael Page, Robert Half… Somehow these are all big whiffs. All my Monster CareerBuilder nonsense seems to be another broad category of nothing. Applying directly to jobs through company websites also has yielded approximately nothing. Using Fordham University and UT-Austin’s job boards are also a total waste. The Internets is only good for flamewars against RE and porn.

These comments had really good suggestions though. Some things I wasn’t doing, for sure. Stuck, I am definitely going to FedEx my company’s internal stats on me to my next job app. That shit is pure genius, I don’t know why I didn’t think of that. A lot of people supposedly puff their resumes, but seeing as how I have documented proof to back my shit, your suggestion is gold.

LLPOH – I suppose I always thought it was assumed that I would show up and not waste time. Is that what you old folk call a work ethic? I thought that was default at this point. I guess I’ll drop that line in my next interview, see what happens. If I get a new job, you get all the credit. Isn’t that a nice end to your article?

cv51
cv51
July 5, 2011 10:08 pm

Jiggerjuice, get the Big Berkey filter kit and install them in a food grade 5 gallon bucket. Works great. Then get some tarps 10 X 12 and some nylon cord. They can be rigged up to collect rain water. A plastic kiddy pool is a great rain catcher too. And remember the hot water tank has potable water in it. I have two food grade 55 gallon drums in the basement to be filled upon a SHTF. Also get a good supply of bleach (unscented). 4 to 8 drops will purify 1 quart of water. If you cannot smell the bleach in ten minutes add a few more drops. The bleach will trade like gold in a SHTF so get some extra.

ecliptix543
ecliptix543
July 5, 2011 10:18 pm

Alrighty then, Old Guys. Here’s the undisputed FACT that underpins the entirety of my petty frustrations and whining: You old fuckers RUINED this country! There are so few chances – even rigged ones – to make any sort of life that doesn’t involve crushing debts for eternity. We were lied to by the student loan industry. We were corralled into 401k programs with negative real returns and innumerate penalties for even attempting to get our own money back. Now we have to deal with the vacuous absence of a job market that offers any sort of mobility other than downwards, given the spiraling costs of living out here in the real world. If we can even get a job, it doesn’t pay shit regardless of whether we show up on time and stay silent, little, obedient servants.

To those who have suggested contracting, that’s what I’ve been doing since ’99. And you know what? Wages are LOWER now than they were then – raw numbers, wages are roughly HALF when adjusted for real inflation. What do you think happened to MY overhead in the interim? Hmmm? TRIPLED. AT LEAST. That’s what has happened to my expenses. Wages? PLUMMETING. Why might this be? Union busting, mass layoffs from the major airlines, mass exodus of military personnel competing for the same spots on dwindling numbers of contracts with similarly dwindling budgets. Apparently, Kill Bill and carzyivan know this as well.

So I would ask.. what do you think is going to happen if you Old Guys manage to drive wages down to the point that you would feel comfortable with? Your business will die. You may think that the employer is the customer. That is total bullshit unless you’re buying all your own products. Who really buys your products? End of the line, it’s people like me who can no longer afford to buy anything… even with a job, only a minute percentage pay anything resembling a living wage. Every successive day the fraudulent economic system your generation designed and executed implodes, any prospects for my generation die as well. Thanks, Boomers. Thanks a lot.

Administrator
Administrator
Admin
  ecliptix543
July 6, 2011 11:29 am

ecliptix

I don’t think the enemy is small business owners. The reason that real wages are lower today than they were in 1970 is due to the politicians, bankers and mega-corporations that have used debt and the tax code to ship the good paying American jobs overseas to China & India & Vietnam. Small business owners hire Americans, not Chinese. The mega corporations that LLPOH competes with have a huge cost advantage by outsourcing their production to foreign countries. The small businesses in the US have to keep the price of their products lower to compete with the mega-corps. They are forced to keep wages lower or they will lose money and go out of business. Then they’ll employ no one.

We all are responsible for letting our leaders allow this to happen.

llpoh
llpoh
July 5, 2011 10:25 pm

Jigger – the majority of employees today consider coming to work everyday an option – after all they have lives, and one cannot let work interfere in ones life.

Jiggerjuice
Jiggerjuice
July 5, 2011 10:58 pm

Work to live, live to work.

Work to live, live to… work for someone else.

What “small business” could I start up at around 10k – without selling drugs? Sitting on PM’s isn’t active enough. Need to make money, not just keep value against a self-destructing currency.

How many employees consider going to work an “option”? It sounds like the 900k people that were rejected from McD’s should just wait around outside for the new hires to not bother showing up. Somehow, I have no exposure to this kind of abuse. Am I a workaholic?

crazyivan
crazyivan
July 5, 2011 11:11 pm

I have made my life so far quite well for me by realizeing work as my most fun.

llpoh
llpoh
July 6, 2011 12:12 am

Jigger – wanting a job isn’t the same thing as being prepared to work.

llpoh
llpoh
July 6, 2011 12:38 am

Ecliptix – welcome back.

Nowhere did I say that I am trying to drive wages down. I give yearly increases – still. If I give each person $1 per hour it costs me $3000 per year per person.
I have perhaps 130 employees. Wow – that is almost $400k per year. How much do you guys think I make? How do I overcome this huge bill? I have to become more efficient. My employees have to be more efficient

Or I go broke and close the doors. I am not so old btw. Mid fifties. It isn’t as plain as you say.

llpoh
llpoh
July 6, 2011 1:06 am

I honestly believe people shoulf consider how hard it is for a small business to survive these days. The vast majority fail. Most businesses and business owners try to do the right thing – but not all. When the business begins to lose money is when the employee begins to see negatives in a big way – can’t buy proper tools, can’t pay suppliers on time, the owners personal property starts to become at risk, etc.

Yes, I expect my employees to do absolutely the right thing by the business. Much is at stake for a lot of people. I do not tolerate slack employees – not for an instant. They can help put someone else and their employees broke – but not me and mine.

Dragline
Dragline
July 6, 2011 1:23 am

This is a great article with a lot of interesting responses. Quite personally revealing, actually.

LLPOH, what kind of business are you in? The Q I usually ask prospective hires is “Tell me a little bit about yourself and why you want to work here.” They need to be able to tie the two together to get serious consideration.

Jigger, forget about planning for the apocalypse. You can’t predict the future and neither can some assholes on the internet, here or elsewhere. The most important thing is for you and your wife to get on the same page. That’s the first and only real principle of survival, unless you are planning on walking out. And it won’t be a page that either one of you are on right now. Consider moving and asking for help from anyone related to that baby. If you were my kin, I would certainly take you in. For the baby’s sake if not for yours. But you need to step up and swallow your pride. That’s what men do for their families.

Jigger and Ecliptix, you have hit upon an extremely valid generational point, which is the current shift of wealth from the young to the old. The Millennials haven’t all hit on this yet, but they will and they should. Old people are fucking rolling in it compared to you. They use their SS to buy expensive dogfood and other crap they don’t need (ever watch “Hoarders”?). What are you going to do about it? I suggest you demand that politicians mean-test Medicare and SS, make student loan debt dischargeable in bankruptcy like any other debt, eliminate the loopholes that I happily walk through every year and tell anyone who has a “reform” plan that exempts people over age 50 to go fuck themselves. In the next 8 years you’ll have enough votes to get whatever the fuck you want. So what do you want? Stop whining and start planning.

Reverse Engineer
Reverse Engineer
July 6, 2011 3:43 am

WAGE SLAVERY & LOW LEVEL PONZI CAPITALISTS

http://tech.groups.yahoo.com/group/reverseengineering/message/2468

re

Novista
Novista
July 6, 2011 8:46 am

Oh! RE (Rare Earths?) visits.

llpoh,

I think you pretty well explicated how a productive society works.

Muck About
Muck About
July 6, 2011 8:46 am

@ecliptix543: Please read “When Money Dies”… There were hundreds of thousands of people blaming small business, large business and especially rural farmers for their troubles when it was the Government of Germany that did the deed (under some absolutely terrible restrictions placed on it by France after WWI.

None the less, simple inflation (out the ass) caused people like you to blame all the wrong things for the problem.

Read it. Understand.. You’ll get a new view even as a TBPer..

Best…..

MA

Welshman
Welshman
July 6, 2011 8:54 am

llpoh,

Didn’t read your article on the first posting, as I’m retired, but really enjoyed it . I wish I could send my son to you for a summer job and a little ass kicking. I tell him to be part of the solution at work and not part of the problem.

Being in quality assurance most of my life, my in your face remark was, “You could not do it right the first time, but you have time to do it right the second time”.

StuckInNJ
StuckInNJ
July 6, 2011 9:37 am

ecliptix

Holy shit. Your posts are becoming increasingly more depressing.

So now you blame Old People. Jeezus. Well, as an old person myself, “you’re welcome”.

imho … You need professional counseling in dealing with your anger and pity party. You’re on the road of going postal on someone else, or maybe even killing yourself. Get help before it’s too late.

ecliptix543
ecliptix543
July 6, 2011 12:19 pm

Stucky… the only thing I have plans of going postal on is that damn armadillo that keeps digging up my yard in the middle of the night, and that doesn’t really require ‘postal’ since a single .22 should do the trick. Not offing myself, and not paying a shrink $400/hr to tell me what the establishment says he/she should tell me then write an Rx. Thanks though!

StuckInNJ
StuckInNJ
July 6, 2011 12:39 pm

ecliptix

Good!!

CNN just ran a story this morning about a guy who worked for AIG. He was let go. He couldn’t find a good job. His brother was an attorney but didn’t like the rat race. They were in a deep rut. Then one day they bought an ice cream cart and started sell Ice Pops. They make their own pops and the little business is booming!!

It was an inspiring little story … especially considering it was CNN !!

Not saying you should sell Ice Pops. lol But you might consider starting a new business.

Just an idea. Just trying to cheer you up a bit.

Dragline
Dragline
July 6, 2011 1:50 pm

Muck — I agree that “When Money Dies” should be required reading for anyone who wants to understand what happens (and what doesn’t happen) in a financial crisis.

A couple of the more interesting things to me were how the whole affair essentially eliminated both the personal debts and incomes of millions in a vast and randomized cleansing that created some big winners and a lot of losers, and the timeline of how that financial crises related to political upheavals. Although a lot of people tie the German hyperinflation directly to the rise of the Nazi’s, the country actually went through the financial crises in the early twenties. It was only after a decade of subsequent stagnation and high unemployment that the power shifted. The minor upheavals in the early 20s, including HItler’s “Beer Hall Putsch”, were complete failures at the time and did not result in systemic changes, although it gave old Adolph a chance to cool his heels in jail and author Mein Kampf.

This is one of the reasons I think the current situation will take much longer to resolve and get much worse that anyone currently thinks before it does.

And think about the generational dynamic. Heavily indebted Millennials with few assets may be better off in a hyperinflationary scenario that wipes out their debts, while anyone with a fixed pension would be up sh&t creek. The opposite is true in a deflationary environment.

Indentured_Servant
Indentured_Servant
July 6, 2011 6:28 pm

Excellent article! The best advice I ever received regarding work was from my father. He said that having a job was actually two jobs: 1) Do the job you were hired for and do it well. 2) Make your bosses job easier.

Everywhere I’ve ever worked I always treat the equipment, place and personnel as if they were my own. I arrive early & stay late. More often that not I am telling my boss where things stand rather than the other way around. I derive enormous personal satisfaction in doing my job nearly perfectly and always delivering just a bit more than expected. It’s a pride no one can ever take from me. Every employer I ever worked for gave me a standing offer to come back at any time.

I appreciate the advice not to oversell myself. I do that more than I should in an interview but I always over-deliver if given a shot. I even offer to work for free for a month to get a leg up.

E

I_S

llpoh
llpoh
July 6, 2011 8:26 pm

IS – Under- promise and over-deliver is a good policy.

Many thanks to those that have posted some great advice and thoughts. I is gratifying so many understand the pressure being applied to small business. I hope that this has proven to be of value to job hunters. There is always the way we wish it was, and the way it is. We live with how it is and try to make it better.

I know money is sometimes a dirty word. I make no apologies for being an aspirational capitalist. It was once part of the American Dream.

ron
ron
July 7, 2011 12:17 am

Lets see,employers want people who well work for as little as possible.The two wage earner society thing sucks,one company i applied at wanted me to carry a pager on my days off and be able to show up within two hours.Everyone has to decide how much they are willing to work,Most of the truck drivers you see work a month at a time and only take off a few days,if you value your time the money isnt good at all.One guy wrote a book called rolling seatshops. Ive listened to the kids are expensive thing for years,usually from self obsorbed bachelors.Get ready all the dept and lies are going to catch up to our government and the people well pay the price.

llpoh
llpoh
July 7, 2011 12:34 am

Ron – life aint fair. It is a newfangled idea generated within the last fifty years. Prior to that life was brutal. Check out life expectancy charts before 1950. L

It is still a game of survival of the fittest. Harsh but true. And the idea of entitlement to ajob that pays great, allows for lots of time off, etc is rapidly being exposed for what it is – bullshit. People have to earn a living, and that means competing with others for the same resources.

The welfare state must and will come to an end. The idea of a welfare state and continuously expanding employee benefits and entitlementd worked when the economy expanded rapidly. Those days are over – forever.

Nothing will change that – not general uprisings, and not change of politicians. It is a global market and the poor of the world want the jobs of the rich. And they are prepared to work longer and harder for less in order to get them. The western world must compete in a very hostile environment. And the governments are making horrible decisions at every turn.

If future employees want a decent standard of living they need to skill up, educate up, and put the old days of entitlement behind them.

The old days of expansion and resulting good times and security are gone. And I mean long gone and they are not coming back.

llpoh
llpoh
July 7, 2011 12:37 am

Ron – one more thing – there are probably two billion people who would leap at a chance at the job you descibe. That is what you are up against. Being American will not insulate you from them in the long run. Just the way it is.

Reverse Engineer
Reverse Engineer
July 7, 2011 1:15 am

“Nothing will change that – not general uprisings, and not change of politicians.”-LLPOH

Incorrect. A complete collapse of the monetary system will change that, quite radically I might add.

Coming soon to a theatre near you.

RE

llpoh
llpoh
July 7, 2011 1:41 am

Horseshit – all that it will do is immediately thrust the western world into a situation similar to that in India and Bangladesh. And then folks may be competing for a bowl of rice. Which is what you want to see, RE. You find business evil, all the while sitting on great wealth. So why don’t we just close all business and let billions starve? You haven’t got a clue.

Reverse Engineer
Reverse Engineer
July 7, 2011 2:00 am

Actually no it would not be similar to India and Bangladesh, because currently both countries are operating in a world which is still running a nominally functioning monetary sytem. A complete collapse of the monetary system on a global level is a much different thing, more akin to the collapse of the Roman Empire, which on balance was a good thing historically speaking because that Empire was a pretty nasty organization overall. Of course for the people living through the collapse it wasn’t a very good thing, but you can’t make an omellette without breaking a few eggs.

RE

Novista
Novista
July 7, 2011 6:27 am

Dragline

I’m still trying to connect the dots but it appears to me one of the key factors of the Weimar collapse was the British imposing their Clayton’s gold exchange standard on Europe (with built-in inflation) and at the pre-war ‘value’ of $4.86 to the pound. And getting the U.S. to help.