View from the Center and Left Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : View from the Center and Left

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Katelew who wrote (129300)	1/26/2010 4:58:45 PM
From: Mary Cluney	Read Replies (2) of 541823

<<<My opinion is based simply on having observed the financial markets and the business cycles for the last 40 years.>>> I have the utmost respect for your experience in the business world but I have a very different opinion wrt your overall worldview. There is widespread belief that if Bernanke did not intervene after the collapse of Lehman Brothers in late September 2008 there would have been a complete global economic collapse. As it is we have 10% unemployment with a possible additional 6 or 7% having giving up looking for employment or are taking part time or temporary employment until the employment situation improves. Of course we are much better off now than during the great depression. We now have unemployment insurance for individuals and FDIC for financial institutions but I don't think that the invisible hand had anything to do with that. We are just starting to get out from under after flirting with the Ayn Rand inspired policies of Alan Greenspan and a Republican administration pursuing deregulation and an unfettered free market, I was under the illusion that the notion of letting the invisible hand manage our economy has been permanently dispelled.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next