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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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Stock Market Tanks. Thanks GOP
I think that it is enough to blame Republicans for what they really
are, such as for being warmongers, hypocrites, anti-women, overspending etc. However, failure of AIG or Lehman brothers cannot be blamed on Republicans so directly. Some points to note: 1) Business failures are not always bad 2) Stockmarket being cheap is not always bad 3) AIG was never prevented from writing stupid insurance policies, by any regulations. So deregulation cannot be blamed. 4) Lehman brothers was never prevented from entering into stupid trades, and accepting too much risk, by any regulations. So deregulations cannot be blamed. 5) The "Government Sponsored Enterprises", an abomination for the concept of free markets, were cheered by all parties due to political expediency. 6) The wealth of the nation is derived from future goods and services produced, minus any debt payments that we owe. Several obvious conclusions stem from this, such as * We are not poorer just because some financial assets are cheaper * We are not richer just bacsue the government "reduces taxes" but increases deficits. 7) The events of late underscore just how terrible was the Republican idea of investing public money, or forced investment of private money, into securities. That would only magnify the eventual disaster tenfold. -- Due to extreme spam originating from Google Groups, and their inattention to spammers, I and many others block all articles originating from Google Groups. If you want your postings to be seen by more readers you will need to find a different means of posting on Usenet. http://improve-usenet.org/ |
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