“Rumors went spreading through the country in whispers of cynical terror–yet people read the newspapers and acted as if they believed what they read, each competing with the others on who would keep most blindly silent, each pretending that he did not know what he knew, each striving to believe that the unnamed was the unreal. “
- Ayn Rand (Atlas Shrugged)
"You have heard it said that this is an age of moral crisis. You have said it yourself, half in fear, half in hope that the words had no meaning. You have cried that man's sins are destroying the world and you have cursed human nature for its unwillingness to practice the virtues you demanded. Since virtue, to you, consists of sacrifice, you have demanded more sacrifices at every successive disaster.“
- Ayn Rand (Atlas Shrugged)
“This is like Science Fiction. It’s just like ‘Atlas Shrugged’ in reverse, where the right has deregulated us into this mess. And their solution, when this happens, is to turn around and say ‘You needed to deregulate more, you didn’t go far enough.’ – Patrick Flanagan
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Here we are on the edge of the actual precipice, staring into the actual void of financial ruin and collapse. And what do we see? Well, there’s the bail out package, and while that might help, in the short term, after looking into this as deeply as I could, I am convinced that it will only postpone the inevitable. There are lots of articles out there detailing the collapse so I won’t talk about that. Needless to say it’s really, really bad. In response we’re nationalizing loss and privatizing profits. Add to the situation two wars, a few natural disasters and, well, as I say, here we are. We’re not looking at any mere variety of recession; we’re talking about a total global depression. The Great Depression 2, a sequel of sorts, just like the first one sans the whimsy.
Of course people are in denial about this. No one wants to come out and say what I’ve just said, but that’s the case. The truth is we can’t borrow our way out of this mess. Also it’s not that we need more regulation. The regulations already exist; they were simply not enforced. So the bailout won’t work, more regulations won’t work, what will work?
Lowering and locking interest rates on all existing loans? Nationalizing the Banks? Seizing the profits and international holdings of certain companies and then nationalizing them? Or how about wiping out all exisitng debt and just starting over?
I don’t know, but I am buying lots of non-perishable goods
. . .
and maybe a gun.