Comments on: Two cheers for the walking wounded http://blogs.reuters.com/great-debate/2009/05/06/two-cheers-for-the-walking-wounded/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Benny Acosta http://blogs.reuters.com/great-debate/2009/05/06/two-cheers-for-the-walking-wounded/#comment-14220 Mon, 11 May 2009 01:58:03 +0000 http://blogs.reuters.com/great-debate/?p=3345#comment-14220 Ian, one should never consider technological advancement to be the same as progress. Progress has to do with human development. Technology, not so much. In human terms there has been little progress at all. We still kill each other. We cause each other suffering. And will still take advantage of each other when we know we hold an edge. This is low animal behavior conducted from office buildings while wearing suits. A national resource like money, should reside in national hands. The hands of the people. Not groups, not organizations,foundations, corporations, or markets. Our money should be in our hands. Until each citizen truly owns a piece of the American GDP, we will never get any closer to being free.

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By: Anubis http://blogs.reuters.com/great-debate/2009/05/06/two-cheers-for-the-walking-wounded/#comment-14105 Fri, 08 May 2009 13:08:51 +0000 http://blogs.reuters.com/great-debate/?p=3345#comment-14105 Tell it gd.

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By: gd http://blogs.reuters.com/great-debate/2009/05/06/two-cheers-for-the-walking-wounded/#comment-14093 Fri, 08 May 2009 07:49:59 +0000 http://blogs.reuters.com/great-debate/?p=3345#comment-14093 Walking wounded or walking zombies is the question. Take the bank with the best result in the recentjoke of a stress test. Apply standardaccoutng principals which applied before the crises, then file for chapter 11.

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By: Anubis http://blogs.reuters.com/great-debate/2009/05/06/two-cheers-for-the-walking-wounded/#comment-14086 Fri, 08 May 2009 05:16:26 +0000 http://blogs.reuters.com/great-debate/?p=3345#comment-14086 By the way Ian, I sincerely hope you are right. I hope there is only a couple of years of economic turmoil. Until the world economy improves it is doubtful that nations will find the political will to move forward on sustainable resource use, energy consumption and hot house gas emissions. Clearly the free market has shown no capacity to move forward on any of these issues with real impact.

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By: Anubis http://blogs.reuters.com/great-debate/2009/05/06/two-cheers-for-the-walking-wounded/#comment-14085 Fri, 08 May 2009 04:57:43 +0000 http://blogs.reuters.com/great-debate/?p=3345#comment-14085 Ian you are correct. The grievances are however not generic. If 50 years of progress is 30,000 children dying daily from a lack of potable water in India and Africa, or nations that can no longer fish off their coasts because of fishery collapse due to climate change and poaching by western powers then please forgive my concern for the wider world.

The issue of intelligence is moot. The issues of accurate and complete information is not. Glacial ice is in retreat causing massive spring flooding and low summer water tables. Lakes Victoria, Superior, Huron, Michigan, Erie and Ontario are all dropping. Lake Chad once the 6th Largest fresh water lake in the world has dried up. Lake Lanier and Meade are no longer able to provide the water for which they were constructed for. The cities and farms that depended upon these man made lakes are no longer viable.

Illiteracy is a formidable adversary. It is clear that you have not read the works of Joseph Stiglitz or Paul Krugman. I suggest you do. Even the President has humbled himself and invited these men to the White House for dinner. I presume to in order to seek their counsel. Clearly Summers and Geitner have no clue as what to do next. Perhaps this is because they simply spent their careers enriching themselves on the payrolls of Wall Street.

Clearly regulated economies are far more stable than legislated monopolies under the guise of free market capitalism. The U.S. government is as as responsible as any corporate criminals. Congress repealed common sense regulations put in place subsequent to and in response to the Great Depression. President Nixon canceled Bretton Woods. These actions lead to the greatest transfer of wealth from the working and middle class to the upper 10% of Americans in the history of this nation. Similarly the “third world” nations saw the gains they had made since WWII wither away.

I am glad you have a life of leisure Ian. Perhaps your income bracket is the upper 10%.

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By: Bill http://blogs.reuters.com/great-debate/2009/05/06/two-cheers-for-the-walking-wounded/#comment-14021 Thu, 07 May 2009 17:09:39 +0000 http://blogs.reuters.com/great-debate/?p=3345#comment-14021 Ian,

Anubis is right. In an unregulated free market, the rich get richer and the poor get poorer. Power and money in the hands of a greedy few always has, always does, and always will lead to corruption. Maybe you consider such a market to be “working”, but I don’t.

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By: Ian http://blogs.reuters.com/great-debate/2009/05/06/two-cheers-for-the-walking-wounded/#comment-14000 Thu, 07 May 2009 14:24:42 +0000 http://blogs.reuters.com/great-debate/?p=3345#comment-14000 Anubis,
How can you possibly feel that a couple of years of financial turmoil justify the sweeping statement “unregulated free markets do not work”. You appear to be literate but you seem to ignore the incredible progress made at a global level over at least the last 50 years. Wealth creation and development are always at the front end of finding new ways to expand the economy. This inevitably leads to some unregulated products and markets but this is a natural progression. In the event that this dimension of the economic expansion is proved to be nonviable it is then normal to introduce regulation. However to believe that regulation should precede free market expansion is nonsensical. Would you vote to regulate mobile phone, computer, aeronautical or health developments. It is normal to push the boundaries and then take a step back and consider whether or not it is truly beneficial. I understand that some people have become extremely wealthy over the latest economic bull market and that the current climate has hurt families, employees and companies. However to question the process on which the economy grows shows a lack of intelligence. We would not enjoy the privileges and leisurely lifestyles we enjoy today were it not for economic entrepreneurship and risk taking. We rise together and fall together and if you are working hard and taking risks you rise higher and fall harder across all spectrum’s of the economy. Take control of your own circumstances and stop complaining about generic grievances of the wider world.

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By: Anubis http://blogs.reuters.com/great-debate/2009/05/06/two-cheers-for-the-walking-wounded/#comment-13994 Thu, 07 May 2009 12:45:06 +0000 http://blogs.reuters.com/great-debate/?p=3345#comment-13994 I thought the “walking wounded” had shot themselves in the foot. So why should we cheer their recovery? The damage to American families is clearly far worse and wider reaching than any reports on the economic health of the nation are indicating. Yet we bail out banks but not families. I could puke! Where is the recovery?

There are no masters of the universe. Those who considered themselves as such should hang their head in shame. Unregulated free markets do not work and probably never have. That is because wealthy capitalists are free to bribe politicians in order to establish and protect their monopolies and accompanying privileges.

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By: f belz http://blogs.reuters.com/great-debate/2009/05/06/two-cheers-for-the-walking-wounded/#comment-13961 Wed, 06 May 2009 22:09:02 +0000 http://blogs.reuters.com/great-debate/?p=3345#comment-13961 I think that the challenge will be to keep the banking industry from going back to its old ways of not checking out investments, and relying on past history(Good old boy mentality) in order to maximize profits. In order to get stability into the banking system the government must demand that the banks have a long term business plan, reachable goals, and also remove pressure from Wall Street on maximizing short term profits. Banks would also be required to improve due dilligence on investments before purchase, slow down loan approvals, and spread the customer base for investments. We can ill afford another wild ride down the slippery slope of maximizing short term profits.

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