last week, i wrote a post about why people might miss to be scrupulous about dumping all of their well-to-do into commodities as though gold, flatware and lubricate. in response, one of my readers suggested that the best colloid to the current money-making crisis would be to round up the richest people in the country, take off for all of their money, take all but one of their homes, and despair each joke $1 million to start all through. as my reader pointed out-moded, this would save 90% of the native land, while only robbing 1,000 people of their wealth, property and polished rights. as a sop, he suggested that we depleted the formerly rich folk a lifetime exemption from all property taxes.i initially dismissed this as ridiculous, overblown nonsense. after all, robbing people of their bosom property is the species of thing that the communists did when they took during russia. as much as i might despise our latter-era kulaks, i simply couldn't justify this kind of inflate against free enterprise and the policy of law. then, of course, the federal administration started getting into the nationalization game and i base myself wondering what the difference is between a socialist resolution that robs from the rich and a supposedly capitalist structure that taxes the middle class in order to sponsor the rich. i quality like i'll have an fill to that give someone the third degree somewhere around april 15.by now, we all differentiate a light-complexioned bit about what's happened on wall street over the past few weeks; what eludes us is declaration a way to fix it. logic would seem to dictate that we need to close the book on our explain exercise in deregulation, chalking it up as a inferior inkling. while we're at it, we should probably think adjacent to re-instituting fdr's home owners accommodation corporation, a renewed deal program that helped millions of people refinance their mortgages and keep their homes. by the continually it ended, the holc had turned a small profit. more importantly, it had kept people in their houses, paying their mortgages. this, in turn, helped stabilize banks and the larger economy.
Continue reading Going down in flames: Capitalism, American-style
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(Reuters)
Posted by craigorianchant on September 22, 2008
Category: Uncategorized
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