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The Bush administration’s $13.4 billion rescue of GM and Chrysler is a fitting finish to a year in which governments around the world expanded their role in the economy and markets after three decades of retreat.
“We’re seeing a more statist world economy,” says Ken Rogoff, former chief economist at the International Monetary Fund and now a professor at Harvard University in Cambridge, Massachusetts. “That’s not good for growth in the longer run.”
Torpedoing the banking system due the unsustainable marketing of dubious financial products isn't good for growth in the longer run, either, Mr. Rogoff.
This financial failure can be also interpreted as a "failure of freedom" in an underregulated industry. The lack of rules and oversight allowed the few to threaten the system for the many.
Capitalism can't be denied, it's an expression of human nature...and this is the most capitalist country on earth. This is just part of a natural cycle. Go too far, get reined back in, grow back again.
Capitalism can't be denied, it's an expression of human nature...and this is the most capitalist country on earth. This is just part of a natural cycle. Go too far, get reined back in, grow back again.
I think dictatorship and royalty and slavery are also repeated thru time, and it came back with king George and the royal CEOs of America - ps WE are the slaves.
I think dictatorship and royalty and slavery are also repeated thru time, and it came back with king George and the royal CEOs of America - ps WE are the slaves.
Torpedoing the banking system due the unsustainable marketing of dubious financial products isn't good for growth in the longer run, either, Mr. Rogoff.
This financial failure can be also interpreted as a "failure of freedom" in an underregulated industry. The lack of rules and oversight allowed the few to threaten the system for the many.
Reagan, George H Bush, Bill Clinton and George W. Bush:
The Bush administration’s $13.4 billion rescue of GM and Chrysler is a fitting finish to a year in which governments around the world expanded their role in the economy and markets after three decades of retreat.
“We’re seeing a more statist world economy,” says Ken Rogoff, former chief economist at the International Monetary Fund and now a professor at Harvard University in Cambridge, Massachusetts. “That’s not good for growth in the longer run.”
Listening to the people calling for Congress to intervene in the affairs of the State of Illinois over Obama's vacant Senate seat I have to agree with you. Saving Capitalism is important, but not as important as some of the other things at risk from these folks.
One of the few ways for the Big 3 to do WORSE than they are already doing is for the US Government to take control of them!!!!
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