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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (76718)	9/17/2001 10:18:47 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 116753

I'm not a total free-marketer, Long-gone.... I believe there are places where the government must step in to restore order and confidence, when human beings react irrationally. After all, what has changed economically? Although these bastards killed 5,000 people and destroyed a block of buildings in the NY business district, it hasn't caused a major hiccup in the economic power of the US... And if we stop living our lives and worrying about the future, the bastards will have won... And I'm not about to give them that victory. An economy is about creating the circumstances where people are willing to take risk and avoid preservation of capital. Money must be put at risk to create new wealth. This is why I sanction the use of a "plunge protection team" which restores confidence (like an insurance company) when people are unwilling to take on risk. It's no different that when the government steps in to provide insurance when no one else is willing to do so. Without such risk mitigation strategies, there is no way we could run an economy of any type (other than barter). But the danger is when these "insurance" and financial agencies make their premiums so low during non-crisis periods that we see dangers of speculative bubbles. Hawkmoon