The problem is in a modern society no ideology works alone in and of itself. In a modern society
there are times when the free market system works quite well and other times when government
must take the lead. Medicare is a prime example, social assistance, and so on, are programs
that need governments involvement. The mess we face today is because the free market and the
government teamed up to take risks well beyond the norm.
The governments provided the avenue, for banks and institutions to take risks with the established
rules and to keep the whole thing going governments allowed the rules to be changed. I am now
talking about the United States. The end result is not the problem Americans know about, its the
problem many are not aware of, The derivative markets, this is the single biggest problem when the
chips are sorted out. The leveraged funds market, constitute over 1.2 quadrillion dollars you see the
figure correct and it is getting worse. The estimated world economy is 2009 was between 50 and
60 trillion so the outstanding derivatives market debt is more than 20 times the world economy.
I once read in Daily Finance, a column by Peter Cohan that laid it out pretty well and the problem is
not going away because the whole thing is unregulated and continues even now.
There is another book called Game Over by Steven Leeb, that looks at a whole series of problems
we are about to face in the coming years that will compound the problems we are facing.
The private system is the biggest scam since Bernie Madoff and company.
On the other hand look at the socialist regimes of Greece, Spain, and others who have run up an
absolute mountain of debt playing the game of speculation with your money. If in fact you believe
that Mr Harper and his government have saved us from a financial collapse worse than the Great
Depression, I have bad news for you. At best, we have put off a serious problem for another day.
This whole picture is following the pattern of the 1930's. In 1929 the first serious problem came to
light and it looked like everything would work out, that is until 1933 when the bottom fell out.
We are facing a total collapse of the private system and the social programs we depend on in our
society. For those who, believe the private market is a failed experiment, you are right. For those
who believe the socialist system, is not working, you are also right. Some on this thread say we
should let the private market system look after the business of business alone, well these people
have rung up a leveraged debt of 1.2 quadrillion dollars. That is 1000X a Trillion Dollars. Do you
still believe we should let the private sector look after all the business without government supervision