Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (51910)	7/30/2004 5:05:37 AM
From: Hawkmoon	Read Replies (1) of 74559

I'm not even convinced that in democracies, an incoming government should have to repay loans incurred by previous governments. If they were freely elected, then those loans can be responsibly passed on to the electorate, since the government was acting in their name, and accountable to them.. So we'll have to agree to disagree (though I suspect you're speaking with tongue planted firmly in cheek.. :0) I didn't see Zonder's comments on loans [I haven't read much lately]. She used to fight me quite a bit on the definition of a legitimate government, even if non-democratic. She felt that all that was required was recognition by the international community (UN), whereas I believe TRUE legitimacy can only be derived from the population acting via free and fair elections. Any government not elected and accountable to the people is nothing more than a mafia trying to pose as a legitimate government, passing our favors to their loyalists and not attentive to the actual will and needs of their citizenry (except to the point of preventing an all-out uprising). Hawk

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