Comments on: In Defense of Goldman http://dailyreckoning.com/in-defense-of-goldman/ Entertaining Ideas on the Economy, Markets, Gold, Oil and Investing Strategies. Fri, 10 Feb 2012 21:15:12 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Lost & Found http://dailyreckoning.com/in-defense-of-goldman/#comment-40413 Lost & Found Mon, 23 Nov 2009 13:43:23 +0000 http://dailyreckoning.com/?p=20430#comment-40413 The point is that Goldman and the gov are both like two parasites who cannot survive without the other. And they are sitting on top of the pyramid. The little guy looks up to them and thinks "Hey, what they are doing, I will be able to do, too." On a much smaller scale, of course and within his own little means and limitations . Thus, comes time comes corruption and theft all over society. The point is that Goldman and the gov are both like two parasites who cannot survive without the other. And they are sitting on top of the pyramid. The little guy looks up to them and thinks “Hey, what they are doing, I will be able to do, too.” On a much smaller scale, of course and within his own little means and limitations . Thus, comes time comes corruption and theft all over society.

]]> By: John http://dailyreckoning.com/in-defense-of-goldman/#comment-39836 John Fri, 20 Nov 2009 22:10:47 +0000 http://dailyreckoning.com/?p=20430#comment-39836 There is no doubt GS is doing god's work - separating fools from their money. Is it not written "blessed are the poor"? And today the biggest fool of all is the central government and those that support it. There is no doubt GS is doing god’s work – separating fools from their money. Is it not written “blessed are the poor”? And today the biggest fool of all is the central government and those that support it.

]]> By: Bill Bonner's Biggest Fan http://dailyreckoning.com/in-defense-of-goldman/#comment-39823 Bill Bonner's Biggest Fan Fri, 20 Nov 2009 20:11:37 +0000 http://dailyreckoning.com/?p=20430#comment-39823 JMR - that was pure Bonner, same as ever Fred G - free markets don't rely on ethics just corrections when people act unethically - we haven't seen it yet but that correction is coming, oh is it coming JMR – that was pure Bonner, same as ever

Fred G – free markets don’t rely on ethics just corrections when people act unethically – we haven’t seen it yet but that correction is coming, oh is it coming

]]> By: JMR bayou bobby http://dailyreckoning.com/in-defense-of-goldman/#comment-39818 JMR bayou bobby Fri, 20 Nov 2009 19:38:27 +0000 http://dailyreckoning.com/?p=20430#comment-39818 No doubt this is a tongue in cheek column. And if it isn't then I love you anyway. No doubt this is a tongue in cheek column. And if it isn’t then I love you anyway.

]]> By: Fred Gibson http://dailyreckoning.com/in-defense-of-goldman/#comment-39785 Fred Gibson Fri, 20 Nov 2009 16:57:30 +0000 http://dailyreckoning.com/?p=20430#comment-39785 Bill Bonner, you are the best at what you do, but it grieves me when you mistakenly support a sort of Ayn Rand social and economic idiology. Unregulated capitalism doesn't work for the same reason Communism doesn't work. Their citizens don't have the high character, ethics, moral values, and integrity these systems both demand. Also, society must invest in welfare, which is for the benefit primarily of society, not the poor. A farmer has to feed his horse through the winter to keep it from starving to death so it will be there for work next spring. Bill Bonner, you are the best at what you do, but it grieves me when you mistakenly support a sort of Ayn Rand social and economic idiology. Unregulated capitalism doesn’t work for the same reason Communism doesn’t work. Their citizens don’t have the high character, ethics, moral values, and integrity these systems both demand. Also, society must invest in welfare, which is for the benefit primarily of society, not the poor. A farmer has to feed his horse through the winter to keep it from starving to death so it will be there for work next spring.

]]> By: Cons http://dailyreckoning.com/in-defense-of-goldman/#comment-39677 Cons Fri, 20 Nov 2009 05:14:05 +0000 http://dailyreckoning.com/?p=20430#comment-39677 It would be all well and good to accept Goldman's actions if there were no countries and no governments. If Goldman was not (at least theoretically) subservient to a higher power (not god), their actions would be completely fair enough in a pure free market. However, Goldman is in theory subservient to the supposed democracy it operates in, and there is no such thing as a pure free market if humans are involved. Even though Goldman has not done anything different to many many other people and organizations, they will be singled out when things get nasty. Because all the other people who had the same attitude will gladly point the lynch mob in their direction. In case you are not aware of this, there has been a recent screening of a documentary on Australian television called "addicted to money", which was shown in prime time. Although somewhat tabloid in its presentation, it did lay out the facts quite well. http://www.addictedtomoney.com.au/ It is interesting to see this view is hitting the mainstream. It would be all well and good to accept Goldman’s actions if there were no countries and no governments. If Goldman was not (at least theoretically) subservient to a higher power (not god), their actions would be completely fair enough in a pure free market. However, Goldman is in theory subservient to the supposed democracy it operates in, and there is no such thing as a pure free market if humans are involved.

Even though Goldman has not done anything different to many many other people and organizations, they will be singled out when things get nasty. Because all the other people who had the same attitude will gladly point the lynch mob in their direction.

In case you are not aware of this, there has been a recent screening of a documentary on Australian television called “addicted to money”, which was shown in prime time. Although somewhat tabloid in its presentation, it did lay out the facts quite well.

http://www.addictedtomoney.com.au/

It is interesting to see this view is hitting the mainstream.

]]> By: et2cetera http://dailyreckoning.com/in-defense-of-goldman/#comment-39650 et2cetera Fri, 20 Nov 2009 01:46:35 +0000 http://dailyreckoning.com/?p=20430#comment-39650 Yup, there is the unholy trinity at work here: the govt, the big financials (like Goldman), and the unions. Together, they have maanged to constraint him (via the unions), cheat him (via the Goldman-types) and squeeze him dry (via the govt). Who would blame a man if he feels inclined to cause grevious harm onto them? Or if he is disinclined towards violence and sinking to their level, should head for the hills with a gun and ammo? Indeed, "Sauve qui peut" as you so aptly put it in the past. Yup, there is the unholy trinity at work here: the govt, the big financials (like Goldman), and the unions. Together, they have maanged to constraint him (via the unions), cheat him (via the Goldman-types) and squeeze him dry (via the govt).

Who would blame a man if he feels inclined to cause grevious harm onto them? Or if he is disinclined towards violence and sinking to their level, should head for the hills with a gun and ammo? Indeed, “Sauve qui peut” as you so aptly put it in the past.

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