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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Hawkmoon who wrote (108953)2/25/2010 8:13:47 AM
From: skinowski6 Recommendations  Read Replies (2) of 116555
 
We simply cannot sustain an economy where there are more government employees than private sector workers paying the taxes for their salaries.

True.

We need to SERIOUSLY look at corporate compensation and the disparity between compensation between management and labor.

If "we the people" begin setting compensations in the private sector, we'll have bigger problems that overpaid management. Besides, who gave you the right to tell me how much I should pay my employee?

casino mentality of short-term gains/profits over longer term market share and productivity gains has got to stop. ....... We need to get more p*ssed off about the financial "churning" that is transpiring on Wall St. and lack of productive use of capital to finance new technologies

More regulation, micromanagement, economic engineering (and taxes) from the Capitol Hill? No, thank you.

What we do need is the opposite - to insist that the government should step back and stop "saving" us so much all over the place. LTCM blows? Let it blow. GS is about to go the way of Lehman? That's too bad... but it's not the government's responsibility (or right) to do anything about it. Big and small businesses will function better if mistakes and recklessness will put owners in the poorhouse - rather than get them bailed out.

Austrians are right on this one -- every time the government sticks its hands into areas which are not their core competencies, expect misallocations.... "and lack of productive use of capital".

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