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

[LarryT (l02turner]

Good points Charles -
You wrote <<companies learn a more far-sighted approach to management, 
rather than >>

Used to be a company doing long range capital planning was looking 10-20 
years down the road, now it's 1 or possibly 2 at the outside depending on 
the industry.

I wonder how much companies depend on bail outs though - but I guess the big 
wigs on the board may know government types better than I could dream of - 
or would want to.  I guess that's why they get $60-$100K per board meeting 
.... since it;s know what you know but who you know.

When the govt bailed out Chrysler the worst possible thing happend - 
chrysler returned and paid the govt back creating a precedent that was 
followed by more bad loans.

Now, we are making the biggest and most dangerous loans ever - close to a 
Trillion $$s - but I  guess as long as obama is going to tax the filthy rich 
people it's ok.    wonder how deeply into recession/depression we'll go if 
the top 10% are taxed at 90%.  I wonder how long it'll take the pols to 
figure out people won't work to give it all away.  The USSR tried that 
approach for ~80 years ...

Hard to spread the blame properly - dems in the 90s pushed Fannie and 
Freddie to make questionable loans, then Bush bails them out, and obama will 
nationalize them even more completely. not sure what mccain will do - he's 
...uh, shifted... yeah, that's it - he;s shifted positions.

At one time he was considered a RINO (Republ. in Name Only) but since 
becoming a runner he embraced (most) conservative positions.  After 
McCain-Feingold I'm not sure where he'll go.

Take Care,
Larry T
http://youroil.net
Carb & Jet Settings:
http://members.rennlist.org/oil/  - Oil Testing
http://members.rennlist.org/webercarbs/
----- Original Message ----- 
From: "Charles Perry" <charles [at] carolina-sound.com>
To: "Larry Turner" <l02turner [at] comcast.net>
Cc: <ferrari [at] ferrarilist.com>
Sent: Saturday, September 20, 2008 11:37 PM
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
>
> _________________________________________________________________
> To unsubscribe or modify your subscription options, please visit:
> http://lists.ferrarilist.com/mailman/options/ferrari/l02turner%40comcast.net
>
> Sponsored by BooyahMedia.com
> and F1 Headlines
> http://www.F1Headlines.com/