Friday, January 18, 2008

Economics 101

http://www.agorafinancial.com/afrude/2007/11/27/exit-us/

"American-style capitalism has evolved into a bizarre marriage of financial gimmickry and governmental coddling. Very few companies produce much of anything, other than derivatives and press releases. This situation would not be so bad if the derivatives possessed a bit of value and the press releases possessed a bit of truth. Instead, the U.S. economy lurches from greed to deception to disaster, and back to greed, without ever eliminating all the flaws and the felons that cause all the problems."

The stock market posted losses in the triple digits yesterday. And there's no end in sight to the devaluation of the dollar being caused by poor business practices, bad tax policy, reckless federal spending - no, insane federal spending, on pointless war and Americans' irresponsible savings practices. America can not be saved.

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