|
|
Back to UserFriendly Strip Comments Index
|
US Financial Thread (n/t) | by merlin | 2008-10-01 10:24:00 |
| My revised, triangulated, nuanced, modified |
by basher20 |
2008-10-01 14:29:35 |
or just plain changed thoughts on the bailout:
I still believe that the bailout legislation is necessary to allow the current financial system to continue.
However, i now think that in formulating my initial opinion, I hadn't fully considered the alternative that capitalism supplies, namely that if the current system is destroyed, a new system will be emergent to replace it.
The difficulty is that no one is sure what form the new system will take, and what players will end up running the show. It's that uncertainty that is driving a lot of the panic that is destablizing the economy far beyond the financial markets.
I'm thinking that allowing the existing institutions to fail will create a sharp recession until the alternatives can establish themselves in the market. there has been too much shock to avoid a disequilibrium. The bailout would likely lower the immediate level of pain, at the cost of extending it much further into the future. |
|
[ Reply ] |
|
|
[Todays Cartoon Discussion]
[News Index]
|
|
