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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (102246)	9/20/2009 4:06:38 PM
From: Hawkmoon	4 Recommendations Read Replies (1) \| Respond to of 116555

I can't imagine why you ever would have voted for Republicans given that your views lie far to the left of the Democratic party and share many similarities with the Communist party. Because I'm a pragmatist, not an ideologue enslaved by adherence to some "dismal science". Especially a social science that believes it's an entity until itself, separate from politics and social psychology, let alone logic. And I realize this nation was was founded to promote the general welfare of its people, not an economic theory. Economic theories don't vote, people do. And when they see that your capitalist pigs have bilked them of the value in the primary (and often only) investment that many of them possess, their homes, you're hitting right at the heart of mainstreet. It was your unfettered capitalist, and laissez-faire regulatory systems that created this mess. Your unregulated bucket shops you call Credit Default Swaps that were nothing more than off-shore betting parlors. Your Naked Short Sellers who electronically counterfeit stock shares. Your effectively unregulated and conflicted monopolistic Ratings Agencies being paid by the sellers of these securitized mortgage products fraudulently originated. And on the other side, we had the socialist political hacks like Barney Frank pandering for votes by creating an environment where Fannie and Freddie used to create an avenue for unqualified borrowers to get a quasi-governmental backing for their questionable loan originations. Then we had the SEC that can't even figure out a $50 Billion Ponzi Scheme when all the evidence is put in front of their faces. They can't figure out that short selling in excess of the amount of margined stock in that security is counterfeiting, and at the very least fraud. Then we had the mercantilist trade policies of foreigners like China, Japan that created huge trade deficits, yet financed our continued consumption. Cheap money to fuel the mortgage boom, from societies where excessive savings couldn't be domestically absorbed due to their own economic policies. It's easy for you call me a socialist. However, you couldn't be further from the truth. What I represent is the financial "judiciary", left to deal with the legal ramifications of the exploitation and corruption created by BOTH Capitalists and Socialists. I'm the guy who says we should be regulating the hell out of your monopolistic capitalist entities to protect the collective interest of the American people, while at the same time, investigating and indicting those political elites who think they can exploit the taxpayers via their corruption. It's not an easy position for a guy like me to be in, because it requires me to constantly assess what's fair to the people, who are ultimately benefit from, or are victimized by both of your economic theories. Again, the primary difference between Capitalism and Communism is that with Capitalism, man exploits man. With Communism it's the other way around. Given the chance to dominate, both of your systems will attempt to subjugate and disenfranchise the majority of the people. Capitalists will seek to accumulate more and more wealth under their control, whereas Communists seek to control that very same wealth for the benefit of their political elite. And what is clear is that there is no such thing as a "free market", nor a "philosopher king", just people like you trying to screw the majority and accumulate more power/money to yourselves at their expense. I'm all for wealth creation and opportunity in this economy. But when you folks get too powerful (wealthy) for your own good and think you can create your own shadow banking and insurance systems, someone has to lock your heels and submit you to the authority of the voting society you're supposed to serve. I'll hop down off my soap box now. Hawk