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To: X Y Zebra who wrote (188619)	3/5/2009 4:38:24 PM
From: neolib	Read Replies (1) \| Respond to of 306849

I was unaware that fiction built this country. The country was quite well developed before the author of that particular fictional tale made it these shores. And as far as I can tell, Ayn Rand definitely deserves some of the credit for destroying the most wealth ever destroyed on the planet, i.e. the current financial crisis. Kind of odd given that she devoted herself to trying to accomplish the opposite. Life has some unexpected turns. See the below quote from Nouriel Roubini What exactly is Nouriel Roubini's economic philosophy? "I believe in market economics," he says, with some emphasis. "But to paraphrase Churchill -- who said this about democracy and political regimes -- a market economy might be the worst economic regime available, apart from the alternatives. "I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential -- not excessive -- regulation of the financial system. The two things that Greenspan got totally wrong were his beliefs that, one, markets self-regulate, and two, that there's no market failure." How could Mr. Greenspan have been so naïve, I ask, hoping to get a rise. "Well," says Mr. Roubini, "at some level it's good to have a framework to think about the world, in which you emphasize the role of incentives and market economics . . . fair enough! But I think it led to an excessive ideological belief that there are no market failures, and no issues of distortions on incentives. Also, central banks were created to provide financial stability. Greenspan forgot this, and that was a mistake. I think there were ideological blinders, taking Ayn Rand's view of the world to an extreme.

To: X Y Zebra who wrote (188619)	3/5/2009 11:44:45 PM
From: average joe	Read Replies (1) \| Respond to of 306849

neolib believes that only a curious balance of noblesse oblige and a kumbaya approach to whatever Al Gore and Obama conjour up can save the economy. There is no incentive for innovation when Prez. Obama gives billions to reward incompetence. That won't build a better car or deliver a better product. It is barely enough to pension off the old baggage with a diluted pay package. "That we have TO compromise and sacrifice for one another in order TO get things done. That is why I am here, because Barack Obama is the only person in this who understands that. That before we can work on the problems, we have TO fix our souls. Our souls are broken in this nation." Michelle Obama "It only stands TO reason that where there's sacrifice, there's someone collecting the sacrificial offerings. Where there's service, there is someone being served. The man who speaks TO you of sacrifice is speaking of slaves and masters, and intends TO BE the master." Ayn Rand