If anyone is screwing with our planet its these guys.

JMJ;
“Massive new programs are now being introduced to address that. If only we could also

America addresses its environmental and pollution problems far better than China ever has. What do you mean “if only we could”?

Are you suggesting that this filthy slob of a country is better in that area than America is?

The point that I’m making is simply that economies are only as “good” (whatever that is) as their stewards, be they private or public or governmental.

And Greg, the Chinese realize they have a huge environmental problem. Massive new programs are now being introduced to address that. If only we could also.

Of course, now there’s this horror in Tibet… what a world.

JMJ

And dont relate me to some silly sportscaster.
The rules are still the same.
We are still the richest most prosperus country on the planet.

If you’re such a regular shmuck who knows a little history you wouldnt say its the end of an empire.
Unlike you, I dont use premenitions based on false fears to make decisions I go with proven trends and facts.

“But I can look around this world and with a decent education figure out that Americas economy and market has always been one of the most resiliant and durable their is.”

That reminds me of the silly sportcaster who remarks, “Well, in the past twenty years the Giants have defeated the Cowboys at home (however many) times.” It really tells you nothing. The players and coaches are not the same. The weather and turf are not the same. The game implications and time of year are probably not the same. Etc. You have to look at the now, and the past. The past can tell you some things, but the farther you go back, the less relevent the information.

As for controlled economies, the Chinese, who to this day have about a 90% controlled economy, have had about 25 years of astonishing economic growth. Any economy can produce if it’s run right - or even if it runs itself right. But when the free markets fail, sometimes the government needs to step in and right the boat. Most lawmakers now agree that we should have stepped into the mortgage securitization schemes a long time ago. All of this could have been averted. And if you do want to look at the past, certainly the late seventies, late eighties and late 1920’s should teach you that runaway bubble asset markets are sometimes quite avoidable. I’ve seen this mess coming for years, and I’m just a regular shmuck who just happens to actually know a little history, and have a little sense.

JMJ

Chase is a firm that “gets it,” both in terms of yesterday’s discussion of oil, energy and environmentalism, and today’s about the demise of Bear Stearns, so it comes as no surprise to me that it was JPMorgan Chase that benefited from the collapse. Their current CEO, Jamie Dimon, is nobody’s fool, either.

Micky, you’re wrong about the government controlled economies statement. Although I guess we could debate the level of “control,” every macro-economy on this planet is government controlled to some extent, including the USA, and sometimes they work and sometimes they don’t.

JMJ:
“Laizzez Faire economics do NOT always work.’
Government controlled economies never work.

There are several fundamental economic problems we are facing today:

The negative personal savings rate (you can cut interest all you want, if people have too much debt then they simply can’t add more on).

The disparity of wealth (yes, Virginia, there can be too many millionaires).

The mortgage crisis (this is strikingly similar to 1929, and the GOP’s wrongheaded bankruptcy “reform” helped to bring this on even harder).

The national accounts balance deficit (between this and loose monetary policy, the dollar is in big trouble).

and so on…

These factors are going to extremely problematic in the future if something isn’t done. The Fed’s monetary policy - driven only by “growth” - has left us with this mess. And now the Fed is just making things worse with more rate cuts and no control of the endless bubble economy. It’s time to grow up and face reality - Laizzez Faire economics do NOT always work.

JMJ