-Ephesians 5:11-13
The patient wants to get well. He really does. So many people are counting on him to get well. Now if the Keynesian physicians would just stop injecting him with various forms of poisons and just leave him alone, he’d get well on his own, and sooner than many would expect.
The combination of a huge opaque market (23 times as large as the world’s domestic product!) and the big banks’ willingness to keep the profits but “socialize” their risks is downright frightful. It’s a haystack just waiting for a match!
Some things are highly predictable in an unpredictable world. One of them is that government interference in the lives of people will have unintended consequences—often hurting the very people government is trying to protect or reward. Justice is a natural law, and won’t be repealed…just delayed.
This article was such fun to write. There was so much that could be said about Bank of America – way more about their deceitful behavior and shenanigans in the mortgage market. Suffice to say, the analyst hit awfully close to the mark when measured simply by the response of the bank. And I loved being able to use Hans Christian Anderson’s story at the end. That was perfect!
In a perverse way this is actually good news. The faster we get rid of the totalitarian in the White House, the better for everyone, and for the economy.
Notable in the statement from the Securities and Exchange Commission (SEC) last week that it was charging the State of New Jersey with securities fraud was the lack of fines, punishment, or names of the guilty. The fraud began in 2001 and wasn’t uncovered until the New York Times exposed it in April of 2007.
Free markets, in the full sense of the phrase, exist only in the minds and imaginations of free-market economists from the Austrian School, such as Ludwig von Mises and Murray Rothbard.
Bernanke’s first term record was subjected to criticism and praise during confirmation hearings in December, and he was selected as Time magazine’s Person of the Year.
In its attempt to glorify “the 10 who shaped the U.S. economy the most since 2000,” ABC News did a great favor for those interested in the interconnections among the “elite” who are impacting the current world economic and political scene.
By jotcreative
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