Friday, October 17, 2008

Andrew Cusack on the crisis
I know next to nothing about finance and economics, but since stock prices which had previously been ridiculously inflated are now falling to their actual value: isn’t that a good thing? Shouldn’t we be glad the correction is finally happening and shouldn’t we have wished it had come sooner? Isn’t this something that should provoke a sigh of relief? Doesn’t all this panic on Wall Street make the financiers look like a bunch of little girls?

Of course in the old days, you had men in charge. J.P. Morgan was the head of J.P. Morgan, and by gum that meant something. There was someone to be accountable to. Nowadays, no one person owns anything, which is to say, everything is owned by everyone. As the American Loyalist of old oft said: “I would rather be ruled by one tyrant a thousand miles away then by a thousand tyrants not one mile away.”
As Andrew probably knows that’s the pro-freedom argument of Commonwealth monarchists today: have a weak head of state on the other side of the world and be left in peace.

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