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Wednesday, October 08, 2008

Russell Roberts On Why The Bailout Won’t Work

Good stuff.

An excerpt:

“The real cost of this,” warns Roberts, “is that we have said to people, ‘Risk taking is not as risky as it used to be.’ That’s a mistake. It’s a horrible mistake and it will lead to a lower standard of living down the road because investment will be more cavalier and less prudent.”

Comments

Generally speaking, the greater the risk, the greater the potential reward.  Reducing or eliminating risk also reduces and eliminates reward, which is why socialism is so much less productive than “free people making free choices”.


"Give the lefties a pile of money, and they’ll spend it buying votes.” - Rush Limbaugh on the “bailout”.

robert108 on October 8, 2008 at 12:51 pm

The bailout will work quite well for some people.
Others not so much. Those who administer the “plan”
will do well.

Will it work?
Past performance says no.

WOOF on October 8, 2008 at 01:01 pm

Will it work?

It can’t work, since it doesn’t address the actual problem, which is doing social engineering with taxpayer money.


"Give the lefties a pile of money, and they’ll spend it buying votes.” - Rush Limbaugh on the “bailout”.

robert108 on October 8, 2008 at 01:12 pm

None of the rescuers have shown any seamanship.

Drivin that train,
High on Cocaine
Engineer George W

# If it’s good for America that people own a home, we want people from all walks of life owning their own home. And so I let out a goal. I said over the next decade, we want there to be 5.5 million new minority home owners.”

# “But here are some of the things that we intend to do and we discussed today earlier. Sometimes people have trouble finding the down payment for a home. It makes them nervous when they hear the down payment. We need to have a down payment fund to help people with down payments if they qualify.”

WOOF on October 8, 2008 at 06:01 pm
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