Jeffery states:
But as wonderful as the daily shifts and movements are, what really inspires are the massive acts of creative destruction such as when old-line firms like Lehman and Merrill melt before our eyes, their good assets transferred to more competent hands and their bad liabilities banished from the face of the earth.
2 comments:
As someone who deals in the financial markets daily I see it as instructive that our elected leaders are AWOL at this critical moment in time. The government is seemingly, run right now by Hank Paulson and Helicopter Ben. They'll try to hold it together with paper and string until the election. In my humble opinion the depression officially started with the Lehmann bailout. You won't hear the bell ring in the media, government, or from Wall Street.
The exact concerns that Ron Paul has warned us about for years is now being played out in the great unwinding of credit. Misguided regulation largely got us to this place while absent regulation did not as usual protect us from immoral behavior. The clamor for 'more regulation' has begun and that, done in haste, will be bad regulation which will compound our problems. AIG, a once great company built by one of the honest guys on wall street, Hank Greenberg, who was driven out of his own company years ago by the dark powers, has collapsed and this event will bring the crisis to nearly all of main street.
We must inoculate our families, our children; our friends from the double speak. Kids especially can be adversely effected by the mixed messages that they receive from the media, their schools, etc. about what is going on and who is to blame. As usual, it is the government that is largely to blame. I tell those whom I love that this is a great country build on the vision of freedom. They will hear things which conflict with what we believe. Take the good from what you hear but understand that what we believe is different. The media and govenment will not protect you. Think for yourself in order to prosper.
Indeed Terry.
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