Friday, July 9, 2010
The Economy
I was on Fox News Channel today talking about Business and the President. Some thoughts: This mess took years to develop and will take years to fix. Are we there yet? Absolutely not. Are we better off now then we were in January 2009? Of course we are just look at the Dow and your 401k statements. Look at the fact that the economy is no longer bleeding 700,000 jobs per month and is slowly starting to add private sector jobs. Do we need tougher regulation on banking and securities? Of course we do. Clearly the old system didn't work and there needs to be significant change to make sure this never happens again. We can debate what the change will be but it's insanity to argue that the lax regulations that brought us to the brink of a depression should continue.
Subscribe to:
Post Comments (Atom)
"it's insanity to argue that the lax regulations that brought us to the brink of a depression should continue"
ReplyDeleteUnfortunately Christopher - and you know this - there are PACs and Lobbyists galore who will resist regulation and concessions will be made by the government, however maybe thats okay - maybe that creates a balance cause..like it or not we are a capitalist free market system that cannot thrive with regulation upon regulation. How much government control is too much?
At the end of the day the rich capitalists will drive "the system".
Note, I do believe in our system. I would not want to have it any other way, but its a system that is pushed by the "invisible hand" and that means we will always go through peaks and valleys no matter what - unless the government controls that hand - in which case - we are no longer a free market system.