In response to:

Can It Happen Here?

rhough Wrote: Mar 26, 2013 7:15 AM
I think you missed the point: When government gets more involved out of short term fear, the solutions (such as indiscriminately printing more money) make long term financial health even less secure. The point is for less government 'intervention' and to allow the markets to correct itself. One of the things not happening is the prosecution of those who have unlawfully mismanaged others money/money market funds. When you allow cheats to get away with this kind of fraud (usually because they contribute much money to political campaigns), you weaken the system as a whole and promote more of teh same type of money mismanagement. As far as 'for profit' businesses being the wrong kind of business, how do you make such a stupid comment...
MatthewlovesAyn Wrote: Mar 26, 2013 10:14 AM
Rhough: When Jimmah Carter let the market correct itself after the Nixon price freezes, he was vilified, even though in hindsight, it was probably the right thing to do. At this point, the money should inflate (or the government should give us the inflation rate including petroleum and food) to reflect its' true worth.
Another option is forcing the government to use its' assets to back its' money. Things like land holdings should not be in government hands for anything other than those things mandated by the Constitution (like national defense). All other things should be dispersed to pay down debt.
rhough Wrote: Mar 26, 2013 7:21 AM
Every business, except illicit businesses, that make a profit contributes to the economy (and for the good of people) in so many ways: jobs are provided; taxes paid; revenue raised; the feeling of accomplishing something; and contributing to the good of others by taking care of your own business so others so not have to bail you out. To make those who 'profit' the bad guys is not very kind or appropriate for the conversation and certainly does not contribute to the solutions of the problems we currently now have, i.e. such as spending much more money than we take in...

The decision of the government in Cyprus to simply take money out of people's bank accounts there sent shock waves around the world. People far removed from that small island nation had to wonder: "Can this happen here?"

The economic repercussions of having people feel that their money is not safe in banks can be catastrophic. Banks are not just warehouses where money can be stored. They are crucial institutions for gathering individually modest amounts of money from millions of people and transferring that money to strangers whom those people would not directly entrust it to.

Multi-billion dollar corporations, whose economies...