Home › Forums › Financial Markets/Economics › What is patriotism? (An email I wrote in response to a swipe from a friends relative)
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March 24, 2008 at 5:29 PM #176157March 24, 2008 at 5:45 PM #175726AecetiaParticipantMarch 24, 2008 at 5:45 PM #176076AecetiaParticipantMarch 24, 2008 at 5:45 PM #176081AecetiaParticipantMarch 24, 2008 at 5:45 PM #176083AecetiaParticipantMarch 24, 2008 at 5:45 PM #176175AecetiaParticipantMarch 24, 2008 at 6:53 PM #175763barnaby33Participant
cooperthedog, the point is it wasn’t necessary. As for the BSC bailout, I think it was a necessary evil. Credit markets seizing up, banks failing, etc. can cause untold damage to all. Credit markets are seizing up anyway.
Socializing the losses is how our market works, or doesn’t. Actually its a large part of why it doesn’t. Acting like a bailout for any firm is necessary is just encouraging more of the same destructive behavior. It isn’t necessary, and yes the damage will be done anyway. Actually the damage was done when the credit was created. All the Fed is doing is re-distributing the pain to all of us instead of concentrating it on Wall St.
In this case patriotism is saying as loudly as you can, fuck this, its theft plain and simple.
Oh and JWM I don’t always agree with Karl either.
March 24, 2008 at 6:53 PM #176115barnaby33Participantcooperthedog, the point is it wasn’t necessary. As for the BSC bailout, I think it was a necessary evil. Credit markets seizing up, banks failing, etc. can cause untold damage to all. Credit markets are seizing up anyway.
Socializing the losses is how our market works, or doesn’t. Actually its a large part of why it doesn’t. Acting like a bailout for any firm is necessary is just encouraging more of the same destructive behavior. It isn’t necessary, and yes the damage will be done anyway. Actually the damage was done when the credit was created. All the Fed is doing is re-distributing the pain to all of us instead of concentrating it on Wall St.
In this case patriotism is saying as loudly as you can, fuck this, its theft plain and simple.
Oh and JWM I don’t always agree with Karl either.
March 24, 2008 at 6:53 PM #176121barnaby33Participantcooperthedog, the point is it wasn’t necessary. As for the BSC bailout, I think it was a necessary evil. Credit markets seizing up, banks failing, etc. can cause untold damage to all. Credit markets are seizing up anyway.
Socializing the losses is how our market works, or doesn’t. Actually its a large part of why it doesn’t. Acting like a bailout for any firm is necessary is just encouraging more of the same destructive behavior. It isn’t necessary, and yes the damage will be done anyway. Actually the damage was done when the credit was created. All the Fed is doing is re-distributing the pain to all of us instead of concentrating it on Wall St.
In this case patriotism is saying as loudly as you can, fuck this, its theft plain and simple.
Oh and JWM I don’t always agree with Karl either.
March 24, 2008 at 6:53 PM #176124barnaby33Participantcooperthedog, the point is it wasn’t necessary. As for the BSC bailout, I think it was a necessary evil. Credit markets seizing up, banks failing, etc. can cause untold damage to all. Credit markets are seizing up anyway.
Socializing the losses is how our market works, or doesn’t. Actually its a large part of why it doesn’t. Acting like a bailout for any firm is necessary is just encouraging more of the same destructive behavior. It isn’t necessary, and yes the damage will be done anyway. Actually the damage was done when the credit was created. All the Fed is doing is re-distributing the pain to all of us instead of concentrating it on Wall St.
In this case patriotism is saying as loudly as you can, fuck this, its theft plain and simple.
Oh and JWM I don’t always agree with Karl either.
March 24, 2008 at 6:53 PM #176216barnaby33Participantcooperthedog, the point is it wasn’t necessary. As for the BSC bailout, I think it was a necessary evil. Credit markets seizing up, banks failing, etc. can cause untold damage to all. Credit markets are seizing up anyway.
Socializing the losses is how our market works, or doesn’t. Actually its a large part of why it doesn’t. Acting like a bailout for any firm is necessary is just encouraging more of the same destructive behavior. It isn’t necessary, and yes the damage will be done anyway. Actually the damage was done when the credit was created. All the Fed is doing is re-distributing the pain to all of us instead of concentrating it on Wall St.
In this case patriotism is saying as loudly as you can, fuck this, its theft plain and simple.
Oh and JWM I don’t always agree with Karl either.
March 24, 2008 at 7:14 PM #175771BuyerWillEPBParticipantWhat is patriotism? Excellent question.
Before you get trapped in definitions of patriotism, don’t forget that even George Washington was a traitor. He led the rebellion against his legal sovereign, the King of Great Britain. That’s the very definition of traitor.
In fact, every one of the signers of the Declaration of Independence were traitors and would have been hanged as such if they were captured. Only by some miracle did the Americans actually win the war and therefore the former “traitors” became patriots since they got to rewrite the history books.
Do our current batch of leaders have even a fraction of this kind of self sacrificing fortitude? I don’t think so.
Something to think about.
March 24, 2008 at 7:14 PM #176120BuyerWillEPBParticipantWhat is patriotism? Excellent question.
Before you get trapped in definitions of patriotism, don’t forget that even George Washington was a traitor. He led the rebellion against his legal sovereign, the King of Great Britain. That’s the very definition of traitor.
In fact, every one of the signers of the Declaration of Independence were traitors and would have been hanged as such if they were captured. Only by some miracle did the Americans actually win the war and therefore the former “traitors” became patriots since they got to rewrite the history books.
Do our current batch of leaders have even a fraction of this kind of self sacrificing fortitude? I don’t think so.
Something to think about.
March 24, 2008 at 7:14 PM #176126BuyerWillEPBParticipantWhat is patriotism? Excellent question.
Before you get trapped in definitions of patriotism, don’t forget that even George Washington was a traitor. He led the rebellion against his legal sovereign, the King of Great Britain. That’s the very definition of traitor.
In fact, every one of the signers of the Declaration of Independence were traitors and would have been hanged as such if they were captured. Only by some miracle did the Americans actually win the war and therefore the former “traitors” became patriots since they got to rewrite the history books.
Do our current batch of leaders have even a fraction of this kind of self sacrificing fortitude? I don’t think so.
Something to think about.
March 24, 2008 at 7:14 PM #176130BuyerWillEPBParticipantWhat is patriotism? Excellent question.
Before you get trapped in definitions of patriotism, don’t forget that even George Washington was a traitor. He led the rebellion against his legal sovereign, the King of Great Britain. That’s the very definition of traitor.
In fact, every one of the signers of the Declaration of Independence were traitors and would have been hanged as such if they were captured. Only by some miracle did the Americans actually win the war and therefore the former “traitors” became patriots since they got to rewrite the history books.
Do our current batch of leaders have even a fraction of this kind of self sacrificing fortitude? I don’t think so.
Something to think about.
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