I guess it's good to know I can spark some kind of reactions.
Most of what has happened has been overreaction on the part of many. We've become a 'too big to fail' society with many companies and corporations doing anything to keep from going under, and this is the problem. It's a big mistake. Let them fail. We've been far too 'nice' for far too long. 'Nice' puts us in these kind of situations and totally distorts reality. Be real.
Most of this "crisis" should be handled by the bankruptcy courts. Isn't that what they're for? Sorry, but when it comes to things like this, we need a little FAIL. Many of these CEO's, bankers and accountants should be sent to jail and their assets seized. Bank records shouldn't be kept in secret for 50 years when they fail, they should be made public within a week. Mutual funds and stocks in loans? How foolish. No wonder the Chinese are laughing at us.
There are three ways our government can handle this: 1. Repudiation. We're starting over. The national debt is now zero. See Latin America for this one.
2. Inflate. Which is what we're doing like crazy. It's the least painful for the politicians, but painful for the public because prices go up and don't match rises in production or output. This is the path they have chosen.
3. Cut government spending. Let the market sort it out and let people take their lumps and learn the lessons. Cut taxes and let the economy grow its way out of it. This will not happen. It takes far too long for us attention-span-of-a-gnat Americans and since the media has pushed our panic buttons, we're freaking. We want answers now, now, now, now, now. Friedman is right.
You mean aside from the fact that 1/4 of the people who live here don't have affordable access to it?
And the ones that do have insurance seem suddenly to be uninsured or denied payment for necessary care when catastrophic illness comes to visit them.
The primary problem is that insurance companies are in business primarily to make money, not to make sick people well. That's what I'd call a pretty big problem.
Most of what has happened has been overreaction on the part of many. We've become a 'too big to fail' society with many companies and corporations doing anything to keep from going under, and this is the problem. It's a big mistake. Let them fail. We've been far too 'nice' for far too long. 'Nice' puts us in these kind of situations and totally distorts reality. Be real.
Most of this "crisis" should be handled by the bankruptcy courts. Isn't that what they're for? Sorry, but when it comes to things like this, we need a little FAIL. Many of these CEO's, bankers and accountants should be sent to jail and their assets seized. Bank records shouldn't be kept in secret for 50 years when they fail, they should be made public within a week. Mutual funds and stocks in loans? How foolish. No wonder the Chinese are laughing at us.
There are three ways our government can handle this:
1. Repudiation. We're starting over. The national debt is now zero. See Latin America for this one.
2. Inflate. Which is what we're doing like crazy. It's the least painful for the politicians, but painful for the public because prices go up and don't match rises in production or output. This is the path they have chosen.
3. Cut government spending. Let the market sort it out and let people take their lumps and learn the lessons. Cut taxes and let the economy grow its way out of it. This will not happen. It takes far too long for us attention-span-of-a-gnat Americans and since the media has pushed our panic buttons, we're freaking. We want answers now, now, now, now, now. Friedman is right.
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And the ones that do have insurance seem suddenly to be uninsured or denied payment for necessary care when catastrophic illness comes to visit them.
The primary problem is that insurance companies are in business primarily to make money, not to make sick people well. That's what I'd call a pretty big problem.
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