SEARCH BLOG: ECONOMY
I've been having an ongoing email conversation with Bill who has pretty strong opinions about many of the issues which I post here.
Although I am a harsh critic about outsourcing, I believe it is partially a result of bad trade treaties and currency manipulation by major trading nations that literally force U.S. corporations into the practice of outsourcing. Bill is not quite as forgiving.
With regard to the Federal Reserve, I have been fairly unforgiving myself as shown in the summary of quotes in the column to the right.
And with regard to Wall Street and Big Banking, I wrote this a few days back:
"A few years ago, we saw cracks in the financial world with hedge fund scandals. Now we are seeing further cracks with the sub-prime scandal. It seems that the mundane world of banking and investing has gotten caught up in the "get rich quick," high-risk mindset that accepts manipulation of markets as preferred paths to wealth. While there may be big reward with big risk, there is the big downside as well."All in all though, Bill and I have a pretty close alignment. So I wasn't too surprised when I got this link in an email from him.
I have to say that it was worth my while checking it out... and I believe it will be worth your time as well.I guess there are others out there with whom I agree. But as I wrote back to Bill:
I'm not sure I picked up the specifics of his solution.That's always the rub....