Read this, then this, and finish with this. I find a recalcitrant impulse to abandon the entire genuine efforts of honest people, and recount How I was Right; people would just nod their heads upon any Statement I made to being wrong. So I will advance to where I believe I was Right. There is real agreement on the positions chosen by the esteemed Three who plead prior lost innocence. Can Anyone tell where I am going to be Post hypocritical?
1) I did never believe that well-meaning men and women in $4000 Suits could a economy make.
2) I always believed that fancy finances designed specifically to circumvent previous Regulation was a pathway down a slippery slope, and that a long drop to the bottom was foredestined.
3) I imagined that all Players in the economy work basically for themselves, and waste little effort on maintaining a moral and ethical standard.
4) I believe the Barney Madoffs of the World are the product of their Times, and only see opportunity or its lack to operate honestly, and chose the lineal direction which maintains their good fortune for as long as is possible. I notice that these people work sometimes for decades in an environment well-regulated, losing moral and legal sway only after All begin practices which are shady.
5) I feel that the Fed impoverishes as much as it aids, negating the lifetime earnings of people through no Interest Return, simply because they cannot navigate the tricky waters of Investment; where they can be fleeced by the scoundrels mentioned in Item 4.
6) Stimulus which only aids the men in $4000 Suits may not be Stimulus at all, but a continuation of bad practice which led up to the initial Fall. Helping Bankers to make greater amounts of Money may not boost either Consumption or Production.
7) Absolute reliance on Equities to maintain Social Security would provide approximately 7% less revenue for Welfare payments before the risk of Recessions, and never provide Safety for 50% of the Populace.
8) The Fed is trying presently to artificially propel the Equity markets, and luckily, they are being as efficient as they have always been.
9) The Housing markets must eventually dump 30% of their estimated Capital value, but this cannot be accommodated simply by letting mortgages default; they will sometime have to be re-adjusted, hopefully with people still in their homes.
10) I do not see a future for the economy much better than We presently endure, and cannot witness a brighter future until We tell all sorts of Management Goodbye. lgl