“You know how when you walk into a post office you realize there is such a difference between a government employee and other people,” said Vinny. “The ratings agency people were all like government employees.”
The Big Short: Inside the Doomsday Machine (movie tie-in) (Movie Tie-in Editions) (p. 156). W. W. Norton & Company. Kindle Edition.
I wanted to blame the government.
Like millions of American conservatives, I had developed a powerful narrative of the way the world works.
Read more →The Big Short: Inside the Doomsday Machine by Michael Lewis My rating: 5 of 5 stars
Capitalists are like children and free marketers are like their parents.
If the free marketers neglect their duties to feed, protect, teach, and discipline capitalists, some well-meaning but inept government agency will impose itself into the parenting role, destroying the lives of everyone involved and wasting trillions of tax dollars (borrowed from future generations) in the process.
Read more →In 47BC, Julius Caesar assumed dictatorial power in Rome. He instituted “reforms” that transformed the Republic into the Empire. In the process, he became a dictator. Rome’s decent into oblivion began. In 44BC, seeing the damage Caesar’s tyranny and reforms, three men removed Caesar from power by the method of the day.
History moves faster now than it did 2,000 years ago. A megalomaniacal leaders bent on fundamentally transforming a nation can do remarkable damage in the blink of an eye.
Read more →