I truly believed I would not post again on this forum, but at times in the course of human events it becomes necessary for a tree-hugging dirt-worshipping bleeding heart world music composing pure vegetarian philanthropist to dissolve all political bands and offer her decent respect to the opinion of someone who is able to envision and appreciate a vision of true democracy as opposed to the demockracy currently promoted by plutocratic corporate welfare state we've become during my lifetime. And the author is "of the American Enterprise Institute" no less. Whodathunk? "A mind is like a parachute. It doesn't work if it is not open." - Frank Zappa
I can admire people not giving in to failure but lets face it some failures will always fail - they are useless and waste their investors money, time after time. Others are really scammers, smooth talking professionals who hide the investment money and declare themselves bankrupt. Different name, different location.
That's true. 'Ts what happens when people don't think and just repeat what seems like the obvious, me included.
You are correct it is a social club. Systems like these have repeatedly failled during human history. TBTF is a another way of saying "we will keep the banks going until we can figure out a better way to contain the mess/contagient." Any state that can not control their economic system has already failed. That means the money left the country. I just caught how there were some lawsuits being pressed on the major banks for the mortage mess. This means the state is looking for money from the private sector. The banks will not let go of the money and it will be tied up in the courts for decades. The banks will never pay. I wouldn't if there were alternate options of placing that capitial in another sovereign nation. If mega corp "x" got a large no interest loan from the US government and the turned around and patriated the capital into another nation. The banks is not want to repatriate the money nor will the other country. It is too late and the damage is done. As far as socialism, it has failed so many times last century and turned into a joke. Socialism makes a state weak and a non performing UN country. Lots of citizens wait around for hand outs and there is no incentive for performance or output. Look what it did to the former Soviet bloc nations. Welcome to Neo Fuedalism, Akuma
Pure capitalism, the best rise to the top, survival of the fittest. Unfettered it becomes the law of the jungle. Even worse than socialism (this word really gets some people going), pure communism where the state supposedly owns everything and provides everything. As we have seen, the definition of everything shrank as fast as the microchip. As usual, the best way lies somewhere in between. Encourage and let the cream rise to the top, but do not forget the weak, for a measure of any society is how it treats the weakest of its members.
Capitalism needs the rule of law to survive. MR. GREENSPAN: I think that I have a very rigid view towards the Constitution of the United States. I don't with to imply, Senator, that I believe that flexibility goes into our laws or in any of the other things which affect business decision-making and business activity and corporate governance. Clearly, the law -- you cannot run a flexible capitalist creative destruction type of economy unless you have a rule of law which is clear, unequivocal, definitive, and in that regard, that is not flexible. In other words, flexible law may very well lead to rigid economics. quote is from alan greenspan, former head of federal reserve, before congress.
The Delphic Oracle was about as abstruse. No wonder the economy nearly collapsed. Noone knew what he meant - if anything !
All those successes were made possible by failure after failure after failure and the lessons learned from those failures. ----------------------------- Great Post. Bottom line, fuck the Government and fuck the people who back OBAMA's agenda. Learn to Fly on your own. Learn to fend for yourself and team up with like minded individuals. The Government will never be the "Friend or extended Family" member to a Capitalist, risk taker, one who starts his own business. So, who gives a fuck about Wallstreet or Washington. I have a client in Venezuela who is a private business owner. He has been doing business for over 40 years, against all odds, against Socialism and even survived the collapse of their economy. If he can do, so can the smart and forward thinking business people in this country, with out the help of the Government or WallStreet banks.