Chavez Spewing Stupidity Again

March 12, 2007

Oh what a treat, a double header. Actually it was my intentions to respond to Hugo Chavez and his miserable vision of a utopia. Now that Bush is running through Latin American countries, the Venezuelan despot is urging violence, mayhem, and all the other stuff the Leftist supposedly are against. Only they aren’t against it when it’s a Leftist doing it.

Here is a story about Hugo spewing more stupidity, this time he argues that capitalism is the road to hell and socialism is heaven here on earth. Let’s take a look at the two, hopefully it won’t take long.

I’ve often heard that socialism is the most perfect system on paper but that it would never work. Well, I agree with the latter part of the statement, but most perfect system ever put on paper? From the very moment that it was conceived in the mind it was doomed to eventually become a dictatorship. Some people want more out of life than others. Some people will work harder than others so they can have more, and they become rich. Some people want nothing out of life, they want to do nothing or just enough to skate by, and they become poor. Most of us don’t want wealth or poverty, we just want to be able to afford the things that makes us happy. Those people become middle class.

Socialism seeks to ensure that all people are equal, but to do so requires a third party to deny the individuality that sets each of us apart. How could one argue that a system is fair when some people eat more than others, or their houses vary because they were built differently? Fairness has to be dictated by a superior force and also make people stay equal. You have to deny the treasures of life, and the rewards of hardwork to keep people equal. You have to deny them freedom because in a free society people rise and fall. In a society where it’s considered unfair to the poor for others to be wealthy, there is no motivation for a person to contribute to society through more production. This leads to the under production of goods, which leads to poverty for all except the guys who control the system. From it’s conception in the mind, socialism was doomed to be ran with an iron fist.

There is no more a perfect economic system than capitalism. In a capitalist system everything is a two way street, from employee-employer relationships to the products we purchase in the supermarket. The employee-employer relationship is a mutual agreement. Every person in a capitalist system is active in both roles. When we are spending our money we are all employers. When we need an oil change, we are the boss. We have the ability to tell somebody else exactly what we want done and if the person wants our money, they will do what we want. On the flipside of that, they have a choice whether or not to accept employment with us. It’s a mutual agreement. They choose to provide a service, we choose to pay for that service.

But I’m sure most of you are thinking of it in terms of your boss and you. Isn’t that a mutual agreement? Whether or not you like your job you are, at the minimum, choosing to be content with what you received in return for your service, whatever it is. If you weren’t, you would have already quit and sought after something else.

Some of you would argue that some people are underpaid. Perhaps that is true, but certain jobs have a demand and if the employer either has too many people willing to do the job or simply cannot afford to pay his employees more. The solution for these so-called underpaid people isn’t to raise minimum wage, it’s for them to seek better training, or work more effectively. They need to lift up their value to society, not to have Government through an arbitrary number out there. No matter how high minimum wage became, it would never be enough to live off of.

We all want to get the best possible bang for our buck, why do we think that an employer would be any different?

We do it when we go to the supermarket. We have thousands of companies spending countless dollars trying to get us to by our product. Trying to convice each of us that their product is the one that will satisfy our needs, wants, or even fantasies. If capitalism was such a road to hell, we wouldn’t have a choice. We’d have to purchase the products that was given to us, not the ones we chose to buy. We have the freedom to choose, and the freedom to be individuals. Some people like Lay’s, some choose Ruffles, and yet others choose Frito’s.

We have so many different channels to choose from, news channels, sports channels, political channels, court channels, golf channels and foreign language channels. We have various types of music, from all over the world. We have different activities to choose from, we have nothing but choices in a capitalist system, and our bargaining chip is money. How we get money depends on how great the service we choose to provide is, how we advertise ourselves, and how often we choose to provide that service. The more we choose to earn money, the more choices we have available to us.

Socialism is somebody else deciding what’s good, fair, and needed for you.

Capitalism is you working with other people, deciding what’s good, fair, and needed for both of you.

Indiana’s largest banks, savings institutions and credit unions. (Illustration)

Indiana Business Magazine April 1, 1994

BANKS Assets

1 NBD Bank Indianapolis $9.9 bil. 2 Bank One Indianapolis Indianapolis $5.3 bil. 3 National City Bank, Indiana Indianapolis 4.9 bil. 4 Society National Bank, Indiana Indianapolis 3.0 bil. 5 1st Source Bank South Bend 1.4 bil. 6 Fort Wayne National Bank Fort Wayne 1.4 bil. 7 Huntington National Bank of Indiana Noblesville 1.3 bil. 8 Citizens National Bank of Evansville Evansville 1.2 bil. 9 Old National Bank Evansville 1.1 bil. 10 First of America Bank–Indiana Indianapolis 1.1 bil. 11 Norwest Bank Fort Wayne 965.4 mil. 12 Terre Haute First National Bank Terre Haute 848.3 mil. 13 Bank One Lafayette Lafayette 786.7 mil. 14 Valley American Bank & Trust Co. here crane federal credit union

South Bend 729.1 mil. 15 NBD Bank Elkhart 684.6 mil. 16 Bank One Merrillville Merrillville 605.3 mil. 17 Irwin Union Bank & Trust Co. Columbus 551.3 mil. 18 PNC Bank, Indiana New Albany 543.8 mil. 19 Calumet National Bank Hammond 543.1 mil. 20 Bank One Bloomington Bloomington 537.8 mil. 21 First Merchants Bank Muncie 507.1 mil.

22 Mercantile National Bank of Indiana Hammond 473.7 mil. 23 Centier Bank Whiting 469.3 mil. 24 Star Bank, Indiana Richmond 450.9 mil. 25 Fifth Third Bank of Central Indiana Indianapolis 448.9 mil. 26 Lake City Bank Warsaw 448.9 mil. 27 First National Bank Kokomo 417.2 mil. 28 Peoples Bank & Trust Co.

Indianapolis 366.0 mil. 29 First Citizens Bank Michigan City 362.1 mil. 30 Citizens Banking Co.

Anderson 346.4 mil. 31 Fifth Third Bank of Southeastern Indiana Greensburg 340.8 mil. 32 American National Bank & Trust Co.

Muncie 325.8 mil. 33 National City Bank of Evansville Evansville 319.9 mil. 34 Bank of Highland Highland 318.0 mil. 35 Merchants National Bank of Terre Haute Terre Haute 315.7 mil. 36 Liberty National Bank & Trust Co. of Indiana Charlestown 306.3 mil. 37 First National Bank of Warsaw Warsaw 304.2 mil. 38 Dubois County Bank Jasper 301.6 mil. 39 American National Bank Vincennes 298.2 mil. 40 First National Bank Valparaiso 296.1 mil. 41 National City Bank, Southern Indiana New Albany 282.0 mil. 42 Bank One Richmond Richmond 281.1 mil.

43 Lafayette Bank & Trust Co. Lafayette 279.8 mil. 44 Citizens Bank of Central Indiana Greenwood 272.2 mil. 45 First of America Bank–Northwest Indiana LaPorte 270.4 mil. 46 Monroe County Bank Bloomington 242.2 mil. 47 Valley Bank Terre Haute 240.5 mil. 48 The German American Bank Jasper 239.1 mil. 49 STAR Financial Bank, Indianapolis Indianapolis 228.4 mil. 50 The Farmers Bank Frankfort 215.4 mil.

Based on 1993 assets. Sources: Indiana Bankers Association, Indiana League of Savings Institutions, Indiana Credit Union League TABULAR DATA OMITTED site crane federal credit union


1 Teachers Credit Union South Bend $588.8 mil.

2 Eli Lilly Federal Credit Union Indianapolis 289.3 mil.

3 Indiana Federal Credit Union Indianapolis 274.2 mil.

4 Cummins Federal Credit Union Columbus 233.2 mil.

5 Indiana Univ. Employees Federal Credit Union Bloomington 216.5 mil.

6 Finance Center Federal Credit Union Indianapolis 198.9 mil.

7 Indiana Telco Federal Credit Union Fishers 187.2 mil.

8 Inland Employees Federal Credit Union East Chicago 178.9 mil.

9 Wabash County Farm Bureau Credit Union Wabash 178.9 mil.

10 Purdue Employees Federal Credit Union Lafayette 154.1 mil.

11 Three Rivers Federal Credit Union Fort Wayne 153.2 mil.

12 Evansville Teachers Federal Credit Union Evansville 149.8 mil.

13 Tech Federal Credit Union Crown Point 131.5 mil.

14 Elkhart County Farm Bureau Credit Union Goshen 130.3 mil.

15 MidWest America Federal Credit Union Fort Wayne 126.4 mil.

16 Philips Electronics Federal Credit Union Fort Wayne 113.8 mil.

17 Warrick Federal Credit Union Newburgh 102.6 mil.

18 Professional Federal Credit Union Fort Wayne 96.9 mil.

19 University of Notre Dame Federal Credit Union Notre Dame 95.1 mil.

20 Dana Federal Credit Union Fort Wayne 91.3 mil.

21 Independent Federal Credit Union Anderson 85.8 mil.

22 Miles Federal Credit Union Elkhart 85.5 mil.

23 Solidarity Federal Credit Union Kokomo 76.3 mil.

24 Crane Federal Credit Union Crane 75.3 mil.

25 Bedford Independent Federal Credit Union Bedford 69.3 mil.

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