the paradox of self interest
much like the biggest problem of democracy is that people are given the right to vote are also given the right to vote for stupid things or even the right to vote against democracy.
Nothings perfect.
George Soros on Trading
- Thread starter BCE
- Start date
the paradox of self interest
much like the biggest problem of democracy is that people are given the right to vote are also given the right to vote for stupid things or even the right to vote against democracy.
Nothings perfect.
It wasn't liberals who gave taxpayers' money to the banks during the financial crisis. And it wasn't liberals who bailed out the culpable airlines after 9/11 by denying lawsuits and using taxpayers money to make the victims 'whole'. And as much as you rightbots love to throw the word "bailout" around regarding the automakers, what Obama did was loans, not bailouts. Those are the cold, hard facts.
You ask "How is this possible?" It is not only possible it is inevitable. It is in the nature of human beings. Once an industry forms -- say airlines -- the industry (not men of the left) push for regulation to raise the cost of entry. It has happened over and over again worldwide.
What the right blames the left for and what the left blames the right for are often not that different. As an example I know many conservative New Yorkers who rail against subsidies yet live in rent controlled or rent stabilized apartments and accept significant legislated subsidies of the worst kind. Their landlords are forced -- by law -- to charge them below market rents. And the subsidies can be very significant ... thousands per month. For the record my apartment is stabilized.
Where you stand on an issue more likely depends on where you sit rather than some higher moral value.
What the right blames the left for and what the left blames the right for are often not that different. As an example I know many conservative New Yorkers who rail against subsidies yet live in rent controlled or rent stabilized apartments and accept significant legislated subsidies of the worst kind. Their landlords are forced -- by law -- to charge them below market rents. And the subsidies can be very significant ... thousands per month. For the record my apartment is stabilized.
Where you stand on an issue more likely depends on where you sit rather than some higher moral value.
This is very true and that leads us back to Soros and others like him. They make their billions on low taxes, low regulations, high volatility, land of opportunity, etc, then once they have it, they want to shut those doors for everyone else. No different then the serial killer who suddenly finds Jesus while in prison.
And yes, industries are notorious for wanting regulation. This often goes against the ethos of the left who scream non stop that corporations are against regulations and just want the wild wild west. That is exactly what they DON'T want. They want to make the cost of entry as high as possible once they have their foot in a market. This is why conservatives generally are small business owners vs large corporations. Small businesses need less taxes and less regulations to compete on cost.
I'll give another funny example. I often hear the left whine and bitch about farm subsidies (since the right often supports them ironically). So we actually started pulling back on these subsidies in the 90's under Clinton. And then what happened? Big Ag took over. Conagra, ADM, etc bought out all the cash strapped formers and now the corps are running the farms with their "evil" gmo's, etc and the left is bitching about them. Yet it was the cutbacks in the farm subsidies that opened the door for that to happen.
Not the way of the world, but definitely the way of hypocritical plutocrats like the kind that rule American conservatism.
I don't consider it crap, and yes, I believe what I wrote. It is not just the opinion of others, it is my opinion as well.
For anyone interested in Soros' philanthropic projects there are at least five books available. http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias=aps&field-keywords=the philanthropy of George Soros
One article said that Soros' success comes down to his instinct, such as attention to his back pain and good sense of market timing.
In what sense is a loan at below market rates with no reference to the borrower being credit worthy not a bailout. if someone will give me $100,000,000 (an arbitrary figure) at a good rate my guess is that will bail me out from my essentially middle class life to a much more affluent position.
Bailouts come in lots of different packages but they all have a bow at the top!!
A loan is not a bailout. A bailout is what the banks that almost destroyed our economy got: free taxpayer money. A bailout is what the 9/11 airlines got: a guarantee of no lawsuits from blatently ignoring their own security rules (e.g., boxcutters carried on board by passengers) and the 9/11 survivors paid out by federal taxes. The Bushies just loved bailing out corrupt and incompetent corporations, not so much the American people in trouble (Katrina).