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  • How to Break the Boom and Bust Cycle [View article]
    Actually, the govt. did a lot to encourage this bubble:

    -Repeal of the depression-era Glass-Steagal Act in '99 was within 8 years followed by another depression-style investment banking collapse.

    -The Bush tax cuts on capital gains and dividends encouraged house flipping, REITs, precious metal flipping, stock flipping, mortgage backed securities (dividends!), and commodity futures flipping. Meanwhile, conducting business or doing productive work was and still is taxed at much higher rates.

    -Finally, Bush placed people in the SEC with a mandate not to "interfere" with business - that is, not to enforce the law. This trend continues as the author points out.
    Oct 22 17:43 pm |Rating: 0 0
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