Silicon Investor (SI) -- The First Internet Community

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 : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (282710)	8/1/2002 8:13:05 PM
From: DavesM	Read Replies (2) \| Respond to of 769670

Buddy, You have me mistaken for someone else. I do not have total faith in free markets. But I am not a socialist either. I favor a mixed economy. I like the balance that the United States has managed to strike. As far as Japan goes, the problem with Japan IMO, is that the Japanese Government did not monetize bad debt held by the banking sector - unlike the United States. Instead of biting the bullet, and taking over bad-non performing loans and taking them off the books, the Bank of Japan has kept interest rates at very low rates - to help save their banks (monetizing debt would result in higher interest rates). The result is, their banks are surviving, but insurance companies have been going under - hardly a winning trade off. Creative destruction, only works if you leave enough still standing to build on.