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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Raymond Duray who wrote (21878)7/31/2002 9:46:06 AM
From: AC Flyer  Read Replies (1) of 74559
 
Ray:

You're a funny guy. I'm sure you think the world is as you see it. But >>Almost all intelligent voters here have now got the message loud and clear<<? I don't think so, though I particularly like the insinuation that "intelligent" voters share your point of view. Unfortunately, the facts don't jive, as George W.'s approval ratings remain stubbornly near all-time highs for any sitting President.

And this? >>"Free market" is a cynical euphemism for criminal manipulation and self-dealing<< Possibly, if you exclude the "criminal" part - that's the essence of free markets, that participants have the freedom to maximize their own self-interests. However, we do still have fraud and securities laws, the laws are being significantly tightened and it is my hope that many of the white collar criminals of the late '90s bubble will go to jail. However, none of this will change our free market system in any fundamental way, except possibly for the better. As a self-professed history student, you should know that the criminal fallout post-1929 was far worse than at present, with the President of the NYSE going to jail along with many other corporate leaders of the time. The long-term positive effects of that crisis were the creation of the SEC and the FASB.

So, no workers' paradise here for a while, Ray. Sorry. Try Cuba or N. Korea.
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