Author Topic: Critical Thinking Financial website  (Read 32 times)

HiredGun

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Critical Thinking Financial website
« on: November 07, 2009, 07:12:05 pm »
Good authors who back everything up with facts, figures and charts. They are however 'Doomsday Economists'.

http://www.financialsense.com/

David Randolph

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Doomsday thinking - good
« Reply #1 on: November 09, 2009, 11:48:09 am »

Let's be realistic. Capitalism is much like being on a skate park. There are lots of thrills and spectacular crashes. Anybody watching the kids would think that as they get older, they would quit the sport. Thus, a skate park is a declining property and should be "short sold". Right? What keeps it going? There are always new people who come up with new ideas and new tricks. Kids stop joining a sport when it takes too long to become skilled in it and they can't use the sport to impress others.

 

The same is true in a Capitalistic society. Anybody who looks at the trend lines would see that the society is declining. Marx was not the first and nor was he the last. However, the society keeps going. How? People come up with new ways of making money and where there is freedom, those ideas build new companies and new wealth.

 

Efforts to prop up the existing companies does more damage to the economy in the long run than it would be to let them fail. For example, a number of banks are currently ready to fail, but the Feds won't close them. Why? Because the Feds don't have an "approved buyer" for the assets yet. There are a bunch of companies with cash to buy bank assets trying to get approval to buy those banks, but are not getting it. So, we are continuing to struggle as those banks can't lend money and these other companies don't have approval to lend. Regulation is more about limiting capitalism than about enabling it.


HiredGun

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Critical Thinking Financial website
« Reply #2 on: November 10, 2009, 09:55:53 am »
Agreed - and thats a great analogy.

I'm 45 btw and still have my skateboard, after tearing several leg muscles completely off the bone as confirmed by MRI, I was still motivated to impress a rather attractive gal down the street while walking with my daughter, I did the hand stand and carefully dismounted - luckily nothing gave way.  She thought I was kidding and the asked to see it so I went uphill in order to control the dismount speed. Result : no date.  Maybe next time.


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