sadomars asked: What do you think was the reason for the latest economic meltdown? Lack of regulation, lack of control. I agree with you that government should not attempt to meddle in something it is inadequate, but to allow the market to freely do it's thing has shown to be destructive.
The system works beautiful, but people, they are the ones that fail it. The free market is no match when it comes against greed. So without regulation bankers, brokers and speculators will once again take advantage of laissez-faire and do with it what they will.
Let me start with a quote I think I’ve posted here before from Ron Paul (along with a bit more):
Capitalism should not be condemned, since we haven’t had capitalism. A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.
It’s not capitalism when the system is plagued with incomprehensible rules regarding mergers, acquisitions, and stock sales, along with wage controls, price controls, protectionism, corporate subsidies, international management of trade, complex and punishing corporate taxes, privileged government contracts to the military-industrial complex, and a foreign policy controlled by corporate interests and overseas investments. Add to this centralized federal mismanagement of farming, education, medicine, insurance, banking and welfare. This is not capitalism!
