Recent content by sme

Seconded. Welcome back!

As they say, democracy is not "ideal" but better than all the rest. I try to view democracy as a system which does not pick the best guy, but does a good job by preventing the worst types from getting in. Half-joking: Maybe instead of voters picking their favorite they should rank the...

Absolutely, it drags everyone along. Probably why at some point we will see a reverse in globalization--i.e. more protectionism.

Entrepreneurship is always welcome, but not everyone can be an entrepreneur and those that have future potential are being stifled right now. Rhetorical question: At this point, what do you think deters entrepreneurship more? Lack of a social safety net (in case you fail) or lower taxes...

Never ceases to amaze how so many workers thinks unions are "evil". But corporate unions are ok--they will take care of us [insert here: ideological arguments for tax cuts, lobbying, unfettered free trade]. Like anything at some point the pendulum will swing the other way.

Umm...yeah. Whatever you say. I'd settle being that lackluster.

A related word that has been stolen is "capitalism", which a lot of people in US confuse with crony-capitalism. Defenders of the status-quo think crony-capitalism is capitalism. Protesters of the status-quo think capitalism is crony-capitalism.

+1

It opened my eyes. Hard to see the forest for the trees when we grow up inside it.

Don't know if you have read it, but recommend the article referenced in this old thread: http://www.elitetrader.com/vB/showthread.php?threadid=161690 Think Simon Johnson has a clear view on what you describe.

This sober guy appreciates the schooling. Thanks.

My best guess as to choices: (1) Instant writedowns would indeed be shock therapy. If investors (pensions) get hit with losses all at once, a lot of pensioners would become extremely angry. (2) Phase it out over time (take systematic writedowns--historically banks do those with bad loans...

Glad some people see what is going on. For those who think he is being a "lefty", please look at this discussion: http://www.elitetrader.com/vb/showthread.php?threadid=229079

I know you're being sarcastic. What is frustrating is some smart people seem to be ok with what you've described.

You bet it hurts. If your top priority is global well being, fair enough. Mine is not. I am much more concerned about communities closer to home--they come first. Just like my family comes first, before you. Assuming you care about global well being first, I'd argue you are making a lot...