Arthur Fuller
fuller.artful at gmail.com
Fri Jul 13 16:15:30 CDT 2012
I could launch off on several different sub-threads here, drawing insights from Soros, Krugman, Chomsky, and even, going way back, Adam Smith. Let's suffice for the moment with this: There is no such institution as "Too Big to Fail." The essence of capitalism is "Fork You if You Fail." If we want a capitalist economy, then NO bailouts. End of story. To invest is to take risks. Suffer the consequences for your bad decisions. Don't expect mom 'n' pop to bail you out. Go ahead: export all the US jobs to China or Mexico, and then belly-ache because the unemployment rate is so high that no one can afford these imported goods. It's time for a revolution, and I think that the USA is growing ripe for just such an overthrow of the status quo. (Canada's concentration of wealth is even more concentrated, but we are wimps and less likely to take the obvious actions.) I'm not against free trade, but on the other hand I think that it's time the unions went multi-national too, in parallel with their masters, the multinational corporations. To wit, everyone in every country working the same job should be paid identical wages, so there would be no point in exporting jobs to China or Mexico or wherever. Then, and only then, we might get somewhere in our battle to prevent the corporations from exporting jobs to the Third World. A.