{Rachel Maddow} Infrastructure: The Big Fix
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Von Mises got a Nobel Prize back when it actually meant something, and for something more relevant to today's problems. Krugman got a Novel prize for trade theory, not for business cycle practice. I knew that Krugites would raise his non related prize as a trophy of Keynesianism.
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Please be sure to let me know when you get a Nobel Prize in economics.
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Also, greed is GOOD, because when risk exists, greed is self-regulating. Government always allowed greed to go unchecked, but also because of organizations like FDIC and Fannie/Freddie that allowed businesses to use Uncle Sugar as a backup incase they f'ed up. FDIC was also a love child of FDR's failed New Deal program.
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We didn't have a free market economy. The Federal Reserve dropped interest rates too low and artificially pumped credit into the system (Obama approves of the Fed Chairman of NY as Treasury Sect btw who is just as bad or worse than Bernanke), Fannie/Freddie shouldn't have existed and there shouldn't have been a secondary market for mortgages.
Look, if you think we actually had a free market system during Bush, you have got to get your head out of your ass.
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When Uncle Sugar got your back in the form of Bush and Obama, businesses can take all the "risk" they want.
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Where's the risk? Where's the disincentive for taking foolish risks?
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Two years ago, for the first time, Forbes' Richest 400 Americans were all billionaires. Perhaps, not coincidentally, that same year Richard Fuld CEO of Lehman Brothers got on that list for the first time. Lehman Brothers, didn't they just file for bankruptcy? I sure wish I could make a THOUSAND MILLION DOLLARS for running a company into the ground!
Some call these: "bailouts". I prefer to call them: "Heads I win. Tails you lose (America)".
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Poison comes in many forms. Not the least of which is excessive GREED. I just don't think that the economic model we are adopting of privatizing profit while socializing loss is healthy.
Perhaps you can explain why those that have advocated a free market econmomy for decades are now saying (in essence): "Unless it applies to me!" Why is it that most people are subject to market discipline. Whereas those who made millions (and biliions) are not? (cont.)
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Oh, and your mind is poisoned by political pundits like McBama and OCain.
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Actually, Comrade Paulson robbed us last I heard. You can blame both parties in Congress too.
Now Obama will rob the private sector of hard working talent in favor of infrastructure pet projects. Projects will be mismanaged because local politicians will leverage every dollar for projects which assures them of re-election instead projects the economy actually needs.
Got to give the left wing lezbo some credit. She could tell me I'm dying of cancer and I'd still feel entertained about it.
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Agreed-Bridges are vital-vital-vital.
TY for posting this, btw. You rock.
And Paul Krugman is smart. And reasonable.
garthggarth 3 years ago 4
Most people are unaware of the number of bridges they cross over or under each day. Do yourself a favor sometime. The next time you go for a 15 minute trip. Count the number of bridges you encounter. You may be very suprised.
im4wur 3 years ago 2