Thursday, November 06, 2008

Who understands capitalism?

IMHO (In My Humble Opinion), it seems to me, I would say, may I ever so meekly suggest, when it comes to capitalism, there are no experts. Certainly no long-term experts.

Those who pass themselves off as "economists" and (gosh) "experts" and even those accepted as demi-gods of green (yes sir, you know who I am talking about, Mr. Greenspan), just know how to MAKE money for some specific sector of investors, often, by chance, friends and acquaintances within their own socio-economic group.

Beyond that, their theories and models are vague at best, naive and ruinous at worst. And we are seeing some of the middle-bad to worser about now.

Berny, the Fed Chairman, an expert on the Great Depression, is helping to bring on another one, and the Secretary of Treasury is scrambling, at best.

When it comes to capitalism, the "experts" are almost universally on the side of investors, the "trickle down" boys who toy with others' money.

Greenspan (he's back!) now says he was wrong and is now surprised at how things have gone. Secretary Paulson, attempting to be the architect of fixing things he helped break by being so blindsided, is flailing in the dark. You just watch: he'll scramble many times to come up with a "bail out" plan that actually flies past Congress (much less works).

So who really knows how all this greed can really work long-term for the people and the finite limits of the earth?

Nature rules, not the Fed.


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