Topic: Economics
Let them lay where they land The giants need to fall and they will, but this is a good thing. When they fall they will make more room for others at the top and slowly we will be able to reassemble the pie and make our limited resources more potent.by P Hedt
(libertarian)
Monday, October 13, 2008
It's the American dream. If you want it, all you have to do is work for it. Business ownership is within any Americans grasp if they are disciplined enough and want it bad enough. The work is hard but it doesn't take much more than a deep passion to drive a business to success. Most first businesses fail, but the determined businessman is not daunted by this. It is a lot of hard work, but if you're willing to sweat and sacrifice the dream is yours. It should always be hard to work your way to success. Why? It's a law of human nature. You appreciate and respect things more when you have to earn them.
So, what's Wall Streets problem? Why would AIG send their top earners to receive spa treatment at the expense of the tax payer? Why would Congress give them more money after the fact.
What we are going through are the birthing pains of a new nation, a transfer of wealth if you will. What happens is, a hard working individual achieves the American dream, he/she then passes that money on to his/her heir who has less respect for the money but in the least has a deep attachment to the person that earned it. They then pass it on to the next generation whom has no respect for the value of a dollar and end burning all the wealth away. Another hard worker rises to the top achieving the American dream. This is a normal cycle that allows the transfer of wealth to go through unnoticed.
The problem is that the government keeps intervening in the system because they see the wealth of their friends dwindling away. There are limited resources and when the Legislative Branch decides to print money or even to 'borrow' it from our pockets they are essentially watering down the value of the dollar. They are trying to divide the pie into too many pieces for a bunch of people who have no respect for either it or the American public, i.e. spa treatment for the top earners of a failing company.
The giants need to fall and they will, but this is a good thing. When they fall they will make more room for others at the top and slowly we will be able to reassemble the pie and make our limited resources more potent. We have only one planet to draw resources and, until that changes, the government needs to stop trying to manipulate the market.
You will hear a lot of people say that now is a huge opportunity to invest because it's low, but it's going to go lower. What we are going through is a transfer of wealth and the money (our money) that they are throwing at it is going to be dwindled away. No need to pull your money out of the banks but I would avoid the stock market for at least six months.
Did you like this article? If you did, Thumb It! 5 thumbs so far
The views expressed in this
article are those of P Hedt only and do not represent
the views of Nolan Chart, LLC or its affiliates. P Hedt is
solely responsible for the contents of this article and is not an
employee or otherwise affiliated with Nolan Chart, LLC in his/her role as a columnist.
Want to comment on this
article? Leave your comment here. Your email address is
required to track your comment. However, we will neither
publish your email address nor distribute it to other
organizations or persons. The only reason we might use
it would be if we needed to contact you regarding your
comment. All comments are subject to our
terms of use policy.
