Hi John …
Thanks for replying to my question about the FAA and Boeing. In your reply, you mention “crashing on debt.” It seems like we did that in 2008, thanks directly to, in oversimplified shorthand, “Wall Street.” Then, rather than allow more businesses to fail as a direct result of their reckless [ I would personally say treasonous, based on the resuts ] behavior, the government made the choice to save them by propping up the short-term economy (successfully, but I know you see a long-term problem), to place some restrictions on investment banks to help them behave like banks and not reckless investors – but not to hold them or any of their principals at fault for very nearly destroying the American (and world) economy. Since then, those banks, together with the side of the government generally viewed as more “financially responsible” would like to strip away more and more of the flimsy-enough rules in place to protect consumer-citizens from rapacious businesses. I guess that, particularly in light of your “endless cycle” explanation, I don’t understand why you feel like the government needs to be blamed or at least shamed (“gooferment”) more than the businesses.
Thanks, once more.
Kuhn, Rob (MC1973)
[JR: I blame Gooferment, more than “business” for several reasons. <<I think a more technically correct word would be “corporations” rather than businesses.>> The “Limited Liability” of a “corporation” is a creation of the Gooferment. We are indoctrinated in Gooferment Skrules and the Media propaganda that the politicians and bureaucrats are, as Tom Woods sarcastically describes, “wonderful wise people who selflessly serve the public as our overlords to keep us safe and secure”. They really are just flawed fellow humans with their own agendas (i.e., reward their friends; punish their enemies; and feather their own nests). Structurally the Gooferment is incapable of regulating corporations due to “regulatory capture”. So corporations are like mere mindless robots or wind-up toys that relentlessly pursue their objective of profit making. Any control of them has to be done by the Gooferment via the politicians and bureaucrats. So for example, too big to fail banks should have merely had an “excess capital tax” (i.e., any balance sheet larger than 1T$ is taxed at 90% aka “too big to fail” is to big to exist. Kill the “department of agriculture” and its Crony Capitalists sycophants. Make the FDA an advisory body, open the courts to people who are damaged by drugs, and reform the drug patent system, THEN watch the price of drugs fall quickly. The invisible hand of a truly free market is a much better disciplinarian than any Gooferment agency. Just ask folks with Enron on their resume. “Creative destruction” put corporations on notice that they are one bad decision away from “death”. Gooferment “bailouts” should never happen. The root of all evil is not women or the love of money; the true root of ALL evil in the world are Gooferment and their claim to a monopoly on force. Argh!]
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