Ferrari Mailing List: Re: Latest Government Actions (NFC)

[JAshburne (JAshburne]

Charles and Rick:
 
Couldn't agree with you guys more.  Government bailouts of  companies that 
shouldn't survive rewards risky behavior and punishes those who  didn't put 
everything at risk.  It is a slippery slope and, while it may  make things 
better 
in the short run, it will be worse in the long run for  everyone.  Not only 
will we have to pay for all of these messes, but the  next generation of 
companies will take irrational risks knowing that, if they  work out, they get 
obscenely rich and, if it doesn't, oh well FedGovco will bail  them out and 
they 
will only be moderately rich.  It creates a "Heads I win,  Tails you lose" 
environment that ultimately will drag down the entire  economy.
 
No one likes to see companies go under and people lose their jobs.   But the 
reality is that this is necessary for capitalism to work correctly and  it 
encourages risk averse behavior.  It is a far better system for growth,  
prosperity and jobs in the long run than an economy owned and operated by the  
same 
people who ran social security into the ground.
 
Think about it:  Do you really want your congressperson making  decisions 
about which companies should be bailed out?  I don't care who  your 
congressperson is, the track record of that group is abysmal when it comes  to 
actually 
helping the situation and making decisions.  It either takes  too long for them 
to reach a consensus to react in time to help the market  (e.g.  Congress is 
still setting up committees to look into oil prices at  $147/barrel despite the 
fact that the market has already responded  and adjusted supply and demand so 
that prices are back under $100) or every  decision is loaded with pork for 
their home district or based on which group  donated the most money to them.
 
This country is on a very dangerous path towards socialism and that will  end 
in tears if it is allowed to continue.
 
Just MVHO
 
John
 
 
In a message dated 9/21/2008 8:45:08 A.M. Eastern Daylight Time,  
rolindsay [at] yahoo.com writes:

Can you  believe I haven't thrown my two cents in on this thread?  That's 
just not  like me. Okay, here it is:

Capitolism works because its based upon  Natural Selection. Its harsh, ugly, 
unforgiving - and it works. It works  because it is based along our basic 
instincts.  Greed and envy.   

When an outside force is applied, as with our lovely government's  medling, 
the balance is upset. And if we look back to nature we see that  happen also. 
The result is almost always the same. Someone dies who wasn't at  fault. 

Rick

PS: You clowns going to join us at the Tunica  circus?

Sent via BlackBerry by AT&T

-----Original  Message-----
From: "Charles Perry"  <charles [at] carolina-sound.com>

Date: Sat, 20 Sep 2008 23:37:05  
To: rolindsay<rolindsay [at] yahoo.com>
Cc:  <ferrari [at] ferrarilist.com>
Subject: Re: [Ferrari] Latest Government  Actions (NFC)


By definition, it's not capitalism if the government  steps in to bail
them out. Capitalism is based on the FREE market economy -  meaning free
of artificial influences besides supply and demand.

I  am a huge fan of capitalism, but believe the companies should be
reaping  what they sow. They have acted irresponsibly for a long time,
and the free  market solution to that is that the company dies by its own
hand. If you  let the government fix things to artificially influence
consumer confidence  and similar effects on similar companies, then you
are essentially  socialist to begin with. Socialism isn't rescuing
capitalism - it's merely  asserting itself more visibly. 

If the government stepped out, no  question that things would be worse
for a while, but they would be better  in the long run as companies learn
a more far-sighted approach to  management, rather than chasing 1/4 point
stock price gains. As long as big  government prevents the natural
influences of the market from running to  their conclusion, you can't
blame capitalism as a flawed  approach.

And I honestly can't believe that anyone who believes that  you should be
able to keep what you earn can support Obama. Every candidate  has their
plusses and minuses, but my vote usually follows what's in my  financial
best interest, and a Democratic president in tandem with what is  likely
to be a Democratic Congress can't be any sort of positive change  for
people who live off their own work, rather than that of  others...

-- charles


-----Original Message-----
From: Tom  Reynolds [mailto:kjtar [at] cox.net] 
Sent: Saturday, September 20, 2008 11:19  PM
To: Charles Perry
Cc: ferrari [at] ferrarilist.com
Subject: Re:  [Ferrari] Latest Government Actions (NFC) [Ferrari
Digest,Vol 26, Issue  27]

And, of course there's AIG (yes, I do have their auto  policies-full
disclosure) who is anything BUT a governmental (quasi)  entity, isn't is
somehow ironic, yet reassuring in these troubled times  that socialism is
rescuing capitalism gone greedy (or stupid) or  both?
TongueincheekTominTulsa

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