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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (70653)	10/24/2008 1:14:32 PM
From: Maurice Winn	1 Recommendation Read Replies (2) of 74559

That's funny. < Because Greenspan now admits that new regulations are needed! ;>) > You hit the nail on the head though, because a tail-chasing circular argument will seriously be sufficient to propel said regulations. Over 70% of people are really quite socially dependent, as though they lack confidence in themselves. Stockholm Syndrome is a general characteristic in daily life, not an oddity. Given our tribal alpha male dominance hierarchy ancestry going back into genetic history, it's not surprising. Put somebody in charge and the mob will kneel and salute and do all sorts of stupid things. Green$pan's "mistake" isn't really a mistake. It is perfectly reasonable to leave financial institutions and everyone else to look after their own self-interest. The fact that some don't and will go climbing Mount Everest is just part of human personality. When people do dangerous things, plenty of them will crash and die. A far bigger mistake is to believe that a central authority can save people from themselves. They can't. The central authority will try to save them against their will one way and they'll go off in another direction and they'll have to be saved in that direction and the other and the other and in the end it will be nothing short of total imprisonment and Zombie style life which will do the trick and then the human condition will look like a Nuremberg Rally, a gulag, rows of zoned out Ritalin or booze poisnoned Zombies in a catatonic state. If you think Green$pan's "mistake" shows the need for regulation, as is now common sense, we are going to see a vastly bigger mistake as a result of making the mistake of thinking Alan's "mistake" shows the need for more regulation. Get the Nazi uniforms out. Prepare for BIG mistakes as the mistakes of the past are "corrected". What's amusing is that Germany is likely to be in the vanguard. "Never forget" was always a misguided mantra because blame is put on a few individuals or some small group whereas the blame is for the generalized group-think which backs those in power. With 10s of thousands of nuclear weapons at hand, a LOT of air can be cleared, and a lot more besides. Regulations now is like regulations on shutting the cockpit door AFTER Osama's gang has bolted through. The regulations were needed BEFORE the event. But as then, people will solve the problem after the problem has happened and their regulations just add to the burden, achieving nothing. The regulation can only say "No investments can be made without government approval". That's going to be amusing. Anyone who thinks governments are good at investing should take a look at previous efforts. Mqurice

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