Tue 23 Sep 2008
I don’t normally get political here so I’ll just say that if you happen to be suspicious of this bailout stuff, you might want to check out this site which is both an analysis and a petition that you can sign if you want to tell the people in charge just where they can stick it. Not that I have an opinion, mind you. Surely not.
What does this have to do with the free market? As Kevin?Carson?likes to say, if this is the free market, then I’m against it. Of course, it is not the free market. The free market is a profit and loss system void of privilege. When businesses fail, they are supposed to actually fail, not turn to the taxpayers. What we really have is (state or political) capitalism, corporatism, or fascism. An essential characteristic of this system is that while profits are private, losses are socialized, i.e., ultimately covered by the mass of people without political clout.
September 23rd, 2008 at 7:50 am
I personally skipped the online petition and called my representative and senators directly…
Denninger is good to read, but I can’t help but feel like he is one more market event away from an aneurysm…
September 24th, 2008 at 10:43 pm
Yeah, try watching his YouTube channel and pause it randomly. You get some really funny faces.