On Sep 21, 2008, at 4:17 PM, Michael Luscombe wrote:
> Let the corporations fail, they would do the same to you if you > weren't profitable or made horrendously self-serving choices with > their money. I keep hearing wall street types talk about how markets > correct themselves. Isn't that what's happening? No no no...the markets are supposed to correct themselves on the OTHER guy!! However, there IS the point that we're risking a world-wide depression if the current credit crunch isn't cleaned up. The problem is that the neolibertarian Chicago School assholes running our financial system let the problem go so long before fixing things that it went from something easily and cheaply treatable to something requiring major surgery. Hell, it's not like we didn't see this coming...it's kind of sort of the VERY REASON we had the Glass-Steagal act IN THE FIRST PLACE. Alan Greenspan had to keep the economy booming after the tech stock crash, so the Fed encouraged the next bubble by reducing interest rates to almost nothing. This was, in the end, sort of like reacting to an x-ray showing a small spot on your lung by increasing your smoking habit to three packs a day so 'the smoke will kill the thing'. So we're fucked, fucked seven ways from sunday on this. Hang on, it's going to be interesting times.... -- Bruce Johnson "No matter where you go, there you are", B. Banzai --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/StrataList-OT?hl=en -~----------~----~----~----~------~----~------~--~---
