In an earlier post I questioned why the current
economic crisis and the subsequent
bailouts was not predicted by financial guru's like
Jim Cramer. Today Jim Cramer announced that he thought individuals should pull whatever money they have in the
Stock Market out of it, if they will need that money in the next five years.
What worries me about people like
Jim Cramer recommending a mass exodus from the
stock market is that the stampede of those leaving the
stock market will collapse our
economy. Now
Cramer is predicting that investments could loose as much as 20% of their value. I don't question Cramer's ability to evaluate individual stocks or sectors of the market. What I do question is his ability to clearly evaluate the economy and market as a whole.
Popular articles by J. Michael Warner at The Political Coffeehouse and
Associated Content.
In Defense Of Capitalism
From Ayn Rand: "No man has the right to seek values from others by means of physical force--i.e., no man or group has the right to initiate the use of physical force against others. Men have the right to use force only in self-defense and only against those who initiate its use. Men must deal with one another as traders, giving value for value, by free, mutual consent to mutual benefit. The only social system that bars physical force from human relationships is laissez-faire capitalism.
Capitalism is a system based on the recognition of individual rights, including property right, in which the only function of the government is to protect individual rights, i.e., to protect men from those who initiate the use of physical force. I reject any form of fascism or socialism. I also reject any form of a mixed economy that regulates and redistributes wealth."
I do not imagine that every person who joins or reads The Political Coffeehouse would agree with my exact philosophy. But I do believe that we should join together to in order to further goals that we can agree on. The implementation of Marxist policies in the United States must be stopped. J. Michael Warner
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