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Originally Posted by aceventura3
We can let a handful of bureaucrats pick the market winners or we can let market participants pick the winners. Either way there will be winners. the problem with government picking the winners is that if they pick inefficient winners we all suffer, i.e. GM.
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I'll agree that we shouldn't be bailing out the corporations. I'd rather see them split that 780 billion dollars amongst the lower and middle class on an individual basis (because if, say, the poor guy suddenly has 250,000 bucks, he's gonna go buy things, and that, would bail out the corporations.
But either way, the government's gonna have to spend money.
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If government spending is the answer, why would we ever have recessions or depressions? The answer would be to simply spend more "government money".
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You've had 28 years to do it your way - reduced government spending, deregulation, letting corporations do almost whatever they want. . .Hasn't worked well, has it?
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The list of the richest people in America is dynamic. The list today is very different than the list 10/20/30 years ago.
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Not as dynamic as you claim. Obviously it's gonna be somewhat dynamic because even the rich can't buy their way out of dying (well. not forever, anyway).
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Our economy is always creating new rich people. this cycle has lead to prosperity for all of us
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Tell that to the people who are out of work because of this. . prosperous. . economy. Tell that to the people who are losing their houses because their company laid them off because the economy is in such wonderful shape that no one wants to spend any money. That cycle led to fake prosperity for some of us (you conveniently forget that even when the economy was good, we had homeless people starving on the streets), but it was unsustainable prosperity because wages were going down, jobs were being outsourced, and people were having to borrow to maintain that illusion of prosperity. We've not had prosperity in this country for anyone but the very wealthy since Reagan's policies started having an effect. We've only had the illusion thereof, which was enough to fool people into letting the republicans screw with the economy far longer than they should have, but as we can see it's all come crashing down now.
It is disingenuous to the hilt to proclaim as excellent and prosperous the economic theories which ended in a tremendous financial crash felt around the globe.