http://pleasantonweekly.com/square/print/2008/10/10/the-economy


Town Square

The Economy

Original post made by Stacey on Oct 10, 2008

Just a thought... Perhaps what would restore confidence in the markets would be for Congress is pass legislation introducing more regulation. Apparently no one cares about the bail-out nor the interest rate. People want to know that the rampant speculation of the past is not going to repeat and that the embezzlers are going to get what's coming to them. De-regulation doesn't work when you have a central bank artificially controlling the interest rate. You either have a completely free market or you regulate.

Comments

Posted by frank, a resident of Pleasanton Heights
on Oct 10, 2008 at 9:37 pm

I can think of at least one country that currently has a completely free market and absolutely no government regulation. Although Milton Friedman might not have ever used it as an example.

Somalia.


Posted by Stacey, a resident of Amberwood/Wood Meadows
on Oct 11, 2008 at 1:22 pm

This morning some talk radio talking head on 650 AM (or it could have been 560 AM) said basically the same thing. He put it a better way though. People are uneasy about the market because they've lost confidence in the money managers. No one cares about the availability of money or the interest rate.