Feb

29

 When, an expected reimbursement for profligate financial behavior to those going bankrupt is causing, a relief from tensions. Can this create wealth? Does it justify the dignity of human enterprise or perilously puts to a sad joke that every media outlet in the universe is singing of the dropping Manna from the skies. Why should the public be right in hoping that the loot will percolate down to it?

The most desperate bullish theses that one ever came across is that the bankrupts will not be allowed to go bankrupt and this somehow is good for everyone. Postponement of a reality check somehow will become a handle for tele-porting the world to well being and such other circuitous arguments are the mark of our times.

If today too, the last available losable dollar from the public's pocket that could take a bet does not, then when it will?


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3 Comments so far

  1. Sea Wolf on March 1, 2012 4:36 am

    Aptly put Sushil, fully endorse your views. What most people are not realising, or perhaps not saying, is that the can has been just kicked down down the road, but the day of reckoning can be pushed back only so much…..

  2. Vishal Doshi on March 1, 2012 4:38 am

    The entire theory of capitalism has been turned on its head by the western world.

    Capitalism meant that bankrupt and inefficient enterprises be left to die and new and efficient enterprises be encouraged.

    However the west has chosen to support these inefficient enterprises. Its like flogging a dead horse. Its going to take them nowhere.

    I hope I am proven wrong and Mr. Bernanke and his friends are proven right. But I think ppl who are capable of pulling off a miracle sit in ashrams and temples not in central banks.

  3. Ed on March 2, 2012 10:08 am

    Two points.

    First to Sushil, I would put it this way (…and I apologize for the macabre analogy). The flexions who are “not allowed to fail” are much like a leach that has attached itself and made itself an integral part of the wall of the cartaroid artery. The leach has convinced everyone that if it is removed, the patient will die. As a result keeping the leach in its place is “good for the victim too”. Yet in reality, it is likely a self-serving myth. All the leach has really done is convince people that this is so, for in reality it is not.

    To VIshal: I have started to wonder if the use of the term “capitalism” was intentional subterfuge. There is no reason capitalists, after purchasing political pull, would ever want to be allowed to fail. There is no reason a capitalist would want free competition at all. The notion that “capitalism” is an appropriate term to describe “free enterprise” or a “free market” is backwards. I am afraid the crony notions of buffet (how competition is bad for capitalism and capitalists) are far more accurate in the real world.

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