the Sunday paper comes, and they begin to crumble. Supplement on one side. Other special days. The newspaper itself. And the salmon business pages reviled. Until a few weeks ago, I was one of those readers that the latter not to any case. But I must say, I guess the crisis, it's all because of the crisis, now I am a reader of them. In the Oct. 26 edition, I found several articles that I found interesting, but I will mention only this "Goodbye capitalism Friedman and Hayek " by Paul A. Samuelson.
Here some ideas:
"What is it that has caused, since 2007, the suicide of capitalism on Wall Street? At the bottom of this financial chaos, the worst in a century, we find: capitalism libertarian laissez-faire who preached Milton Friedman and Friedrich Hayek, who was allowed to run wild without regulation. This is the primary source of our problems today. Today the two men are dead, but their poisoned legacies live on. "
"First let's clear whose fault is that stability and growth that occurred around 1995 to become the chaos of 2008.
1. Let us never forget the crap that George Bush has done in geopolitics. Future history will document that aspect.
2. Since Ronald Reagan was elected to the White House in 1980, the U.S. has gradually become a country of spenders at the household, business and public, as good radical right-wing supporters of the bid.
3. The programs of "compassionate conservatism" promised by George Bush proved to be a huge program of tax cuts only for wealthy people like my neighbors.
4. The deliberate promotion of inequality did not accelerate the total factor productivity in the U.S.. By contrast, the obscene rise in emoluments of senior managers throughout the system became dysfunctional corporate governance.
In fact, Bush nominees to the Control Commission of Securities Market, as the first president who appointed Harvey Pitt, were chosen only because liberalize the system, instead of maintaining a sensible centrist regulation. Pitt was chosen mainly because it had been an attorney for the four major accounting firms, which in turn were making new forms of deceptive measure the true profitability. "
(...)" What is the problem? It's true that derivatives and swaps can provide a rational distribution of risk and hence reduce the overall risk but can also completely destroy any transpariencia .(...)
The bottom line is that most losses will be permanent, and between 1929 and 1932. However, if the Federal Reserve and U.S. Treasury create enough new money, the recovery and stability will be followed posibles.De the middle line of Roosevelt, Truman, Kennedy and Clinton would have prevented the chaos and bankruptcy today . Scholars still debate whether Columbus brought syphilis in the New World or was reversed. But no doubt that the global crisis of 2008 has on its label the words "made in USA ."
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