Money for Nothin…
6 April 2008 - 2 ניסן 5768 by Huw
The Difference between Soviet Style Communism and US Style Capitalism is that in the former, all the businesses belong to the Gov’t and workers pay money, to the Gov’t, for Toilet Paper. In the later, all the Gov’t belongs to the Businesses and workers pay money to businesses in the form of taxes.
As I read about the housing collapse, I understand more and more that the problem was with standard American greed: everyone wanted something for nothing. The idea that I could buy a house and “flip it” in less than 2 years, before the mortgage went up, and buy something new (and do it all again) would have been alien to any of our forebears (or anyone around the world) who simply wanted to own a home - not buy sell and trade so that they might get more money.
Yet none of this money was real! It was all imaginary money, based on loans from the banks - loans in which no cash ever changed hands and one only increased one’s debt.
No, I don’t like my tax money going to the businesses that profited from this insanity. But, increasingly, neither do I feel sorry for the majority of the other-wise smart folks who sought to make a profit of of their imaginary money and worth. Both the bankers and the homeowner invented this collapse (just like the dotcom collapse) by trying to sell nothing for money. The lesson is still the same: if something seems too good to be true, it probably is.
Increasingly, I’d rather pay money to the gov’t for toilet paper than lose my tax dollars to well-connected idiots.
Gasp!! Huw…support a socialist concept!! GASP!!! Hmmm, you just might make Canadian yet. =)