Playing in Wall Street
The latest from america
As we grapple with fragmentation, political polarization and rising distrust in institutions, a national embrace of volunteerism could go a long way toward healing what ails us as a society.
I forget—did God make death?
you discovered heaven spread to the edges
of a max lucado picture book
The joys and challenges of a new child stretched me in ways I couldn’t have imagined.
Democratic capitalism is an experiment that has resulted in the greatest wealth for the greatest number. Railing against Wall St or other big entities in the economy is to beg for poverty back. Remember poverty? Outhouses, but no refrigerators?
It might help if our citizens, including churchmen, learned about democratic capitalism and how it works, do you think? How many of our ‘educated’ fellow citizens don’t know who Adam Smith is, don’t know a stock from a bond or how to value either, and have no savings. When the huckster cons the rube, whose fault is it?
The name you need to remember in the current malaise is Barney Frank. Barney and his friends, with the help of their liberal fellow-travelers, put a shotgun to the face of the mortgage industry and forced it to make unsound loans at the very heart of the system—the secured home loan. Then Barney offered to buy the loans with your money. You see, Barney knows how to help. He’s smart.
Government has a role to play by enforcing the rules. But when it enters the arena and becomes a player, we no longer have democratic capitalism. Call it socialism. Call it central planning. Call it anything. But it’s not democratic capitalism any more and it won’t work.