True enough C2, which is why I more or less apologized for calling you a socialist at the end of that post. I did notice this bit in the part you linked which is wild-eyed socialism in my book <they were so fanatically ideological about free markets that they did not realize that financial and other markets without proper rules, supervision and regulation are like a jungle where greed – untempered by fear of loss or of punishment – leads to credit bubbles and asset bubbles and manias and eventual bust and panics. >
You didn't write it and providing a link which gave a lot more besides is hardly evidence of hard core socialism. But it is enough for me to stretch to use it.
The proper rules, supervision and regulation are called police, fraud squad, courts, prisons to prosecute fraud, threats, actual violence.
If you the socialist wish to lend to TJ the racist, I don't see why I should provide a supervisory body to determine the interest rates you receive, inspect the collateral you accept, the debt ratio TJ has, or anything else about the commercial relationship.
Yes, I also admit that calling TJ a racist is a bit of fun too, though he is one of course [at a stretch - heck, in presidential politics, almost any phrase involving lipstick is male chauvinist piggery or racism and I don't stretch that far; I hasten to add I have nothing against pigs and have even been known to eat them; note that Jews and Moslems have something in common = they despise pigs, with or without lipstick].
I doubt that there are many in the markets who are not experiencing fear of loss. It is part of any investing. Even cringing in Treasury bonds involves fear of loss; sensibly so [wild and crazy speculative investors that they are].
I really don't want to pay more taxes for a load of rules, regulation and supervision are provided by my funding. Fraud is already illegal. Catch fraudsters and put them in prison, make them organ donors, or confiscate their assets.
With a good organ donor programme, law enforcement could be profitable and taxes could be cut. Crime would also reduce dramatically.
Mqurice |
