Greenspan asserts that self-preservation keeps markets in check, and his invisible hand approach is based on the presumption that getting wiped out of financial existence is enough of a deterrent. But he is wrong for two reasons: Some banks these days are “too big to fail” and backed by their sugar daddy, the U.S. Treasury, so they’re free to bet the pot — which is what led to the 2008 crash. And two: he misreads the human nature to game the system. The more money involved, the more — not less — likely people are to lie, cheat and steal.
Monthly Archive: March 2011
Even without an Armageddon the situation looks pretty bleak, and these are the conditions predicted to precede the Second Coming of religious figures from traditions around the world: the Christian Jesus, the Muslim Mahdi, the Hindu Kalki, the Buddhist Maitreya (Great Teacher) — expected by their followers to return at a time of unprecedented chaos, warfare and exploitation. That sure sounds like what is happening presently.
The Lamest Excuse for an Adulterous Affair Award goes to Newt “Red, White and Screw” Gingrich, who claimed he slept with a woman other than his wife because he was busy serving his country and apparently didn’t have time to service the folks back home.