Cicero

A Bull Market Correction or End of a Bear Market Rally?

You may be a socialist. But don't blame capitalism for the corporatocracy we have, where powerful forces (from teachers' unions and trial lawyers on the demopublican side to big pharma and big oil, who lean towards republicrats) act in collusion with the fedgov to rape the taxpayer. Sure, greed is there in humans and will rear its ugly head even in a free market, but the damage would be exponentially less if the Constitution was followed. As it is, private bankers collude with the fedgov to create money from nothing and charge America 8% of our national budget in interest. The dotcom and housing bubbles were created in large part by the fed (with plenty of help from ignorant and greedy homeowners and mortgage brokers along the way), just as the inflation and recession of the 70's was. If the fedgov wasn't there to offset their losses with tax dollars when their gambles fail (think the Peso collapse and the recent help given to the subprime lenders), these rich investors would learn from their painful losses. So before you opt for socialism, let's try re-legalizing freedom and reapplying the Constitution. Haluburton and the big arms dealers would see profits plummet as we refrained from empire building, but our economy would take off and prosperity would flourish.