- Joined
- Sep 14, 2004
- Professional Status
- Certified Residential Appraiser
- State
- California
We could spend years analyzing your need to fabricate nonsense scenarios solely to impose your idealized version of command-and-control over society. Which private financiers made windfall profits by issuing casino-bet loans? Are you referring to lenders who followed government guidelines for making no-doc loans? Or are you referring to excessive government borrowing to such an extent that it ballooned the money supply, creating a firestorm of inflation? Or are you referring to the Federal Reserve ballooning its balance sheet in order to stimulate demand? All of these things led to the crash; it wasn't greedy privateers; it was the private sector following the incentives laid out by the federal government. And no, it isn't possible to have public infrastructure without private industry making a profit, because private industry wouldn't exist without it. Do you get up in the morning and bounce out of bed knowing you won't make a dime? I didn't think so.Well, when you let private financiers make windfall profits by making casino bet loans and then bail them out with taxpayer monies when the predictable happens, even the Luddites get sheared along with the rest of the sheep. If you would turn on that Internet thingy of yours you would discover that people have been using that phrase associated with the GSE market meltdown for quite some time. How does the "human need for incentivization" figure into the spreadsheet detailing the rest of essential government backed activities in our society, Mr. Adam Smith? Is it possible to have public infrastructure, dams, bridges, roads, schools, police, fire, & law enforcement, and military protection without private industry having to "make a profit" from all those activities?