The end of capitalism in the USA
Instead of allowing various companies to collapse like they should, the finanical powers in the USA are attempting to block the rich from losing their fortunes and others getting rich in their place. Some people here are saying the USA will go to socialism, so that people will pretend to work for money that the government will pretend to pay.
I think just because financial collapse appears to have been avoided for now, it will not turn out that way. Sooner or later the financial powers will have no way of getting money to pay off the various corporate collapses. While the banks can print money, it won’t matter if other countries regard USAsian money as worthless. If the inflation rate continues the way it has (and just about everything now costs about 120% more than it did when I went to MIT here), foreign countries and investors will no longer buy US debt. It simply won’t be profitable. The interest rate on the debt will continue to lag the inflation rate.
It is with all this that I am annoyed I can neither short sell these financial concerns nor buy the companies going bust for pennies on the dollar. When the Internet boom went bust, I was also disallowed from short selling Internet stocks.
The people in charge of these companies should be allowed the same way out they had in 1929 if they don’t know how to invest: a window high above the ground. Anything else gives them too much credit and will inevitably allow them to poison the markets all over again.