What if no one comes?
Tuesday, September 30, 2008 at 04:05PM Even the talk about government intervention is bad for the market as it makes everyone act differently than they would if they had to act to solve problems themselves. I have a feeling that if congress does nothing right now, banks will begin taking the necessary actions to solve the problem. I might be ignorant, but I think credit will be less tight if the market knows no one is coming. No government bailout, no taxpayer's forking over any more money.
Nathaneil Brandon wrote about the psychological transformation that takes place with the realization -- no one is coming. No one will save me -- I have to take responsibility for myself.
All the previous intervention has caused businesses to behave differently than they would without intervention.
The problem is we can't imagine what actions would be taking place if government intervention did not exist. We can't see what could happen -- can't see what has not been created because of intervention.
This takes vision, and we lack vision now. No one with influence is rising to the cause. All we hear is how something must be done, not what needs to be undone.





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