Jubak’s Journal: Is this really a free economy?
description: US financial markets increasingly resemble those in China, says Jim Jubak. In both Shanghai and New York the rule is "Privatize the profits and socialize the losses."
Tags
09/22/08
09/22/08
financial services
financial services
investing
investing
Is this really a free economy?
Is this really a free economy?
Jim Jubak
Jim Jubak
Jubak’s Journal
Jubak’s Journal
jubak's
jubak's
msn money
msn money
simple strategies
simple strategies
Comments
Yes, this is true. Privitization of profits. Socialization of losses. Think about that! We are going to pay for our own enslavement as we bail out these banks, watch these central individuals gain more power, and stand by as the dollar crumbles. The rush to do this bail out feels like I am in a high pressure sales office and they trying to hand me the pen. This whole thing is a disaster without a solution. It really stinks. Let the market sort it out. If we have to bleed to get back to free markets let it happen. Please let us not compensate those who orchestrated this. It seems like a redistribution of the wealth the other direction from the poor to the rich. I am not agaist wealth or the wealthy but Jim is correct, we no longer have free markets. We need to rebalance the system. -
chadhanging
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