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i don't think we can have pure capitalism without bubbles.

on the flip side to mcmansions with greening pools, we have the third world, dying for lack of shelter.

'virtual' pensions disappear in a puff of smoke here, 4/5ths of the world never had a pension to lose...

apparently in Syria, all business has to be 20% government owned, so regulators and ceo's are 'on the same side'. the arab world already gave us key concepts in mathematics, i have a hunch we're going to get a few lessons in banking next...


'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Tue Oct 14th, 2008 at 07:20:19 AM EST
[ Parent ]
We don't need government ownership in companies to have a healthy capitalist regulation. We just need honest regulation!

Further I think government ownership of companies might work in the opposite direction, especially in places like Syria: instead of making business more honest it will make government more corrupt. CEO's and ministers will indeed be on the same side: their own.

Compare this with the very same experience from Fannie and Freddie.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Tue Oct 14th, 2008 at 11:16:54 AM EST
[ Parent ]
In countries like Syria, CEO's and ministers, if not identical, tend to have very close family relationships...

Un roi sans divertissement est un homme plein de misères
by linca (antonin POINT lucas AROBASE gmail.com) on Tue Oct 14th, 2008 at 11:18:03 AM EST
[ Parent ]
Ha, yes.

Syria is an... interesting... place. I've heard many crazy stories from people who've been there in connection with Tanganiyka Oil, (recently sold to Sinopec btw).


Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Tue Oct 14th, 2008 at 11:50:13 AM EST
[ Parent ]
We just need honest regulation!

That's always difficult to impossible to achieve when private companies have a lot of money -> lot of leverage -> lot of influence over politics and bureaucrats.

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Wed Oct 15th, 2008 at 05:22:54 AM EST
[ Parent ]
DoDo:
That's always difficult to impossible to achieve

understatement of the millennium!

if you're so smart as to be a clued-in bank regulator, how come you don't come play the game from our side and become rich?

how in heck can we pay regulators enough to be uncorruptible?

i'm agin the death penalty, but i fear it would take a deterrent of that magnitude to deter the kinds of legal (because their game designers are several steps ahead of the regulators and legislators) shenanigans that are reducing trusting citizens to penury.

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Wed Oct 15th, 2008 at 06:15:26 AM EST
[ Parent ]
Hence you prevent companies and private individuals from having lots of money.

We know roughly the price of a seat in the Danish parliament. Cut that in half and set it as having 100 % rate in a progressive tax scheme. (For added fun, have double the number carry a 110 % tax rate...)

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Oct 15th, 2008 at 07:03:46 AM EST
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