Blog Link Of Interest: Our Financial Crisis

Astrorevolution has this interesting astrological interpretation of the collapse.

Heard a great quote: "People made America great. Not the government."

At the very root of the problem in the U.S. is the government. They were the ones who pushed financial institutions to loosen credit. Now that it collapsed the government wants to further its involvement. The circle of madness continues.

Government interventionism is the easy answer to complex issues. Everyone is down on capitalism these days and whenever a crisis of greed hits us our first reaction is to cry for nationalization.

Here in Canada the absurdity has hit feverish levels. Some people call the for the nationalization of our banks. What is failed to be grasped is that we already have one of the safest and most efficient bank system in the world. It's not overly competitive or innovative, this is true especially when measured against other banks in the world, but this is Canada and Canada likes things to be middle of the road; in other words safe.

Our banks our tightly regulated. Our banks, which operate in a monopolistic environment, are already kept on a tight leash. In fact, the market should be opened to other players. We need some competition.

Demanding nationalization (and putting up with unions and the regressive stagnation they bring to an economy) is precisely why we should resist. We can't protect the dumb and we certainly won't control greed this way.

Implicit in the calls for nationalization is that we're too greedy to be trusted to our own devices. As if greed does not take place in a nationalized environment. It does but in different forms.

Better to let humans on their own sort themselves out than sweep the dust under the rug socialist style. Bad rap be damned, the private sector led by enlightened minds will always in the long-run out-manage and out-think and provide real jobs any government filled with bureaucrats who have little faith in human nature.

Yes, I tend to be a little more optimistic about our species.

The only way we'd truly learn from these mistakes is if we pay a heavy price. With a bail out we learn absolutely nothing.

Nothing.