Friday, October 23, 2009

A Simple Solution

Ron Chernow, in today's New York Times:

"In retrospect, the evils of the 1920s seem almost quaint in their simplicity. Finance today is far more esoteric, marked by complex securities sure to baffle reformers as they seek solutions to the problems exposed by last year’s crash."

Well, here's my simple solution: If the experts can't understand them, they should be illegal. There. Problem solved.


Derek said...

Do you know what caused the great depression GE?

Taxes and protectionism.

Poll P. said...

Uh, Derek, I'm pretty sure G.E. knows in exhaustive detail exactly what caused the Great Depression, but I hope to God he doesn't waste time explaining to you what you should go and research yourself. Perhaps he could limit himself to listing the 5 or 6 most appropriate books for you to read.

Derek said...

Protectionism and tariffs were the main causes of the Great Depression. That is why after WWII nations came together and formed the GATT.

Green Eagle said...

Letting rich people have too much money caused the great depression.

That is what creates bubbles, and that time it created the biggest one of all.

Derek said...

"Letting rich people have too much money caused the great depression."

This makes no sense what so ever. When the rich get richer, the middle class and poor have more jobs, prices go down, and business booms. You wont find one historian or any credible economist who will say that the rich having money caused the great depression. GE, you sir, are a liar.