Originally Posted by Ken Hill
I sounds like a great idea Phil. Free market capitalism is also a great idea, until that is, the US financial system is faced with collapse and deep pockets are wiped out. And that indeed is what would likely have happened if the feds had not involved themselves with Bear Stearns and now covered their Fannies.

And as I said before the beauty of all of this is that no one actually pays for it. Ever more bonds are issued to cover the debt and the US backed Ponzi scheme continues for the foreseeable future. Don’t tax—but spend. It’s a wonderful country.

I think your argument fails because you mistakenly believe that a free market economy is operating within the financial sector, Ken. And you are also incorrect when you claim that no one actually pays for it. You need only look at the diminishing purchasing power of the dollars in your pocket to see that you and I and most of the rest of America are paying dearly for it.
Yours,
Issodhos

"When all has been said that can be said, and all has been done that can be done, there will be poetry";-) -- Issodhos