The markets have been in decline since their last peak in 2007, and their prior peak in 2000.

We all have a stake in the economy, whether we invest or not.

Instead of trying to blame it on some conspiracy of wall street werewolves, it is better to question how we really got to this point and what the real drivers were with regard to blowing economic crashes and bubbles.

Massive government debt, poor regulation, economic policy which destroys growth and a grossly mistaken belief that government is or can be the economy.
All wrong and all fatal to a genuine economy.

Rather than a real economy, we have created a zombie dependent on massive intervention to keep the undead alive, reward failure, and throw away massive amounts of wealth we do not have. It is now driven mostly by intervention and rumors of intervention, none of which are sustainable.

 

The werewolves are what they are, and I'm start enough to not waste breath trying to change that...have better luck changing the weather.

The system has evolved so that the werewolves are just not as constrained as they need to be.

 

AMEN Brother!

 

Greed is like gravity, it is everywhere, and we quit blaming plane crashes on it a long time ago.

Central economic planning and government monopolies in education, retirement and healthcare have done more to destroy the economy than a thousand wall streets. Poor regulation is a thousand times worse than no regulation.

The only real change will come from disaster, the kinds of disaster we are now seeing and the worse disaster that is surely coming.

 

So, when this disaster finally arrives on our door step, who will be left standing? Do you think it's going to be the common man or the secretive institutions that got us into this problem in the first place? Live free or die has long been forgotten. So sad.

 

All this action that we are now seeing was bound to happen sooner or later and where it goes from here is anybodys guess.
You can only tighten up a rubber band so many times before it snaps !

 

I don't believe in secretive institutions, however there is solid proof that there is a confederacy of dunces that includes Nobel prize winners along with the lowest common denominator.

They regularly double down on losing bets. Like drugs, we need to just say no to the fantasy.

 

Nope, it's the opposite. You present your evidence, then I'll present mine.

 

Super, as my evidence I just ask you to look at the current situation, you can offer all the evidence of collective economic planning you like because it always results in failure. Always has, always will.
If you can offer us a single example of true economic free markets in the last one hundred years, I am all ears. (China not included.)
Your move.

For an excellent overview of how poor regulation can destroy jobs and lives and create a seperate monster beyond the rule of law:Prohibition: Home | PBS




Economics of Prohibition

Prohibition's supporters were initially surprised by what did not come to pass during the dry era. When the law went into effect, they expected sales of clothing and household goods to skyrocket. Real estate developers and landlords expected rents to rise as saloons closed and neighborhoods improved. Chewing gum, grape juice, and soft drink companies all expected growth. Theater producers expected new crowds as Americans looked for new ways to entertain themselves without alcohol. None of it came to pass.

Instead, the unintended consequences proved to be a decline in amusement and entertainment industries across the board. Restaurants failed, as they could no longer make a profit without legal liquor sales. Theater revenues declined rather than increase, and few of the other economic benefits that had been predicted came to pass.

On the whole, the initial economic effects of Prohibition were largely negative. The closing of breweries, distilleries and saloons led to the elimination of thousands of jobs, and in turn thousands more jobs were eliminated for barrel makers, truckers, waiters, and other related trades.

The unintended economic consequences of Prohibition didn't stop there. One of the most profound effects of Prohibition was on government tax revenues. Before Prohibition, many states relied heavily on excise taxes in liquor sales to fund their budgets. In New York, almost 75% of the state's revenue was derived from liquor taxes. With Prohibition in effect, that revenue was immediately lost. At the national level, Prohibition cost the federal government a total of $11 billion in lost tax revenue, while costing over $300 million to enforce. The most lasting consequence was that many states and the federal government would come to rely on income tax revenue to fund their budgets going forward.
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There are thousands of examples like this, now, can you show us some good rules? Rules that uphold the rule of law and treat all equally?

 

A thread with intelligent discourse and educated banter. References to both Ayn Rand and John Kennedy O'Toole.. Austrian think tanks... .....THANK YOU! Its not Who is John Galt anymore... It's more like when the hell is he coming?