Homestead mailing list

[bob ford <bobford79 AT yahoo.com>]

Lynn, I'm a Libertarian; obviously I don't agree with his conclusions 
concerning the remedy (though he could be forecasting the terrible truth).  I 
liked some of his explanation of the present problem.  And, he is smart, even 
if his belief system is different than mine ...bobf


--- On Tue, 9/30/08, Lynn Wigglesworth <lynnw1366 AT hotmail.com> wrote:

> From: Lynn Wigglesworth <lynnw1366 AT hotmail.com>
> Subject: Re: [Homestead] They Just Don't Get It
> To: homestead AT lists.ibiblio.org
> Date: Tuesday, September 30, 2008, 5:36 AM
> I disagree with Pearlstein. What the government wants to do
> is the 
> equivalent of an individual running his credit cards to the
> max, then 
> looking around frantically for a new credit card to use. We
> need to 
> tighten our collective belts and live within our means.
> It's going to 
> hurt, however you look at it, but I'd rather have a
> recession/depression 
> that lasts ten years and teaches people about fiscal
> responsibility than 
> this credit house of cards that will indebt our
> great-grandchildren and 
> will collapse every few years.
> 
> "And they will come around, reluctantly, to the
> understanding that the 
> only way to get out of these situations is to have
> governments all 
> around the world borrow gobs of money and effectively
> nationalize large 
> swaths of the financial system so it can be restructured,
> recapitalized, 
> reformed and returned to private ownership once the crisis
> has passed 
> and the economy has gotten back on its feet"
> 
> That's got to be one of the WORST ideas I've read
> in a long time. At 
> least if we want to be a capitalist, free-market country.
> Has the 
> government EVER backed out of something once they got their
> fingers in 
> it? In a true free-market economy, businesses fail. People
> who invested 
> in those businesses suffer the consequences, too.
> 
> Lynn Wigglesworth
> 
> bob ford wrote:
> > This is an editorial coming out in tomorrow's
> Wash. Post.  I don't trust anything from the NYT right
> now; They are too dependent on the Wall Street Wizards for
> their money and influence, and it shows in their reporting
> and editorials.  Without the Wizards, they'd be just
> another big town rag.
> > 
> > Pearlstein is a smart guy and gets right to the heart
> of what is happening and what could happen as consequence. 
> He has an opinion, but his explanation is helpful, even if
> disagree with opinion.
> >
> ***************************************************************************
> > 
> > They Just Don't Get It
> > 
> > "The basic problem here is that too many people
> don't understand the seriousness of the situation. 
> > 
> > Americans fail to understand that they are facing the
> real prospect of a decade of little or no economic growth
> because of the bursting of a credit bubble that they helped
> create and that now threatens to bring down the global
> financial system."..........................
> > 
> > ........."In the coming weeks and months, all of
> these people will come to understand how deep the hole
> really is and how we're all in it together. 
> > 
> > They'll come to understand that the giant sucking
> sound they hear is of a massive deleveraging of the global
> economy and the global financial system as households,
> governments, businesses and investment funds adjust to
> living in a world with less debt and more inflation."  
> > 
> > 
> > 
> > 
> >
> http://www.washingtonpost.com/wp-dyn/content/article/2008/09/29/AR2008092902762.html?nav=hcmodule
> > 
> > 
> >       
> > _______________________________________________
> > Homestead list and subscription:
> > http://lists.ibiblio.org/mailman/listinfo/homestead
> > Change your homestead list member options:
> >
> http://lists.ibiblio.org/mailman/options/homestead/lynnw1366%40hotmail.com
> > View the archives at:
> > https://lists.ibiblio.org/sympa/arc/homestead
> > 
> > 
> > 
> > 
> >
> ------------------------------------------------------------------------
> > 
> > 
> > No virus found in this incoming message.
> > Checked by AVG - http://www.avg.com 
> > Version: 8.0.173 / Virus Database: 270.7.5/1698 -
> Release Date: 9/29/2008 7:25 PM
> > 
> 
> 
> 
> _________________________________________________________________
> See how Windows connects the people, information, and fun
> that are part of your life.
> http://clk.atdmt.com/MRT/go/msnnkwxp1020093175mrt/direct/01/
> _______________________________________________
> Homestead list and subscription:
> http://lists.ibiblio.org/mailman/listinfo/homestead
> Change your homestead list member options:
> http://lists.ibiblio.org/mailman/options/homestead/bobford79%40yahoo.com
> View the archives at:
> https://lists.ibiblio.org/sympa/arc/homestead