Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (36333)	7/20/2003 11:13:40 AM
From: gumnam	Read Replies (2) of 74559

I do not know why people pick out China as the only Govt where capricious decisions are made to help or hurt individual companies. You can find plenty of examples of this behavior all over USA where individual fortunes get made or lost because of essentially random Govt decision. In real estate circles - the concept of eminent domain has become a huge tool for real estate developers where as soon as some small guy wants a premium for strategically located real estate, they get the city to buy it for them at 10c on the USD. It has been apparently used over 1000 times in the last couple of years in New York city alone. In industrial circle, look at the posturing going on about asbestos settlement. The congress and senate after 20 years of letting corporations go bust suddenly decides to switch the game. Same in tobacco, Microsoft, ADM, Boeing and on and on. Capitalism is not laissez faire. It is a system where Govt is the biggest player and it can and will change the rules of the game to help/hurt different constituencies. Sure China might hurt toll road companies at the cost of helping transportation companies - so what. Who said they have to be "altruistic" to toll road investors? Sorry Jay, could not resist bringing up altruism here. Cheers Gumnam

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