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LINK Socially Responsible Investing

This news was initially linked to gun control but it also covers other areas. At one time my portfolio was with what the firm considered social choices; no gun manufacturer, gold mining and other things we didn’t agree with. The area actually did very well. Now big organizations are also looking in this direction. One may say they are against some things (guns) but their investments say another thing. Have you gone over your portfolio?

JackPedigo 9 Oct 19
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I’m okay with guns and gold but don’t like candy and soft drinks. Trouble is that my fund is managed at different layers and I have no input, or if I do I am not aware of it.

If a corporation’s stock gets pushed down in value does that really hurt them or deter them? The remaining stockholders will still get their dividends, and after all, they are the real owners. I think if you wanted to put corporations out of business it would be more effective to take the campaign to the users.

BTW, what is wrong with gold mining?

For me it's not about putting companies out of business, it's about one/me being a part of something I think immoral. It is rightly said no matter what we say or think we eventually vote with our money. Several years ago National Geographic did an exposee on gold. Like diamonds most gold is used for investments. Some of the mining and processing is horrible and the desperate workers are almost slaves.

@JackPedigo

OK I follow you now.

Some of that mining is done with machinery also. If in places that manual labor is used, wouldn’t you think those workers would just quit if they didn’t like the work?

I remember an exposee by NPR on the sugar industry in Latin America. Seems the poor workers were having to cut cane with machetes. At the time I often cut alders and willows, etc all day with a machete so I wasn’t all that impressed. In South Florida I once witnessed a crew of Jamaican cane cutters and it was a beautiful thing to see.

The typical fat, weak American suburbanite knows nothing of manual labor and becomes all disturbed when he or she hears about it. Those exposees always harp on the low wages paid to the workers—low when expressed in US dollars at the current exchange rate. Nothing is said about what the workers can buy on their local market with the wages. You can bet that the workers would quit if they were dissatisfied. Suppose a company decided to be the good guys and pay $15US/hr. The economy of the country would be instantly wrecked. That is why the Army always issues script to soldiers to use in foreign countries, and it pays the local going rate for wages and supplies.

@WilliamFleming The one thing I remember from the article concerns gold separation. Sometimes the gold is so small that mercury is used to separate it from other minerals. This is done in 55 gallon drums with guys (bare legged) standing in the drums and mixing it with their feet. My first job out of HS was picking Raspberries. When people immigrants do the work Americans (this idea is common elsewhere too) won't they mean we won't because the poor pay, working conditions and total lack of control. In our area $15 is becoming the norm (Amazon is pushing this) with little effect on the economy.

@JackPedigo That working in mercury bare legged is a legitimate concern and if it is happening the practice should be stopped. Did you listen to the podcast “S-Town”?

$15/hr. Is a fair wage in our economy. But go to a country where the normal wage is one US dollar per day and pay $15/hr. And you’ll create massive inflation and instant havoc. The average person who was previously getting by in the local economy will suddenly be shut out.

@WilliamFleming Of course, I am only talking about the US. Problem is, is that people are enticed here with the promise of higher pay. They don't seem to understand the cost of living is also higher here and sometimes they are worse off than they were in their own countries. No I don't even know about S-town.

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