[Grovenet] So, who is screwing who ? ? ? ?

[David Morelli]

""Never ascribe to malice that which can adequately be explained by  
incompetence.""
— Napoleon Bonaparte

The economic collapse of the industrial nations is more likely to be  
caused by public greed than a secret cabal of environmentalists.

For example, the "credit default swap" feed back on the "sub prime  
meltdown" was accomplished by a large number of individuals and  
corporations each trying to maximize their profit.  Pure Capitalism.   
And the response of "government regulation" is accomplished by a  
small number of government officials trying to keep their jobs or  
politicians who want to get reelected.

By pursuing his own interest he frequently promotes that of the  
society more effectually than when he really intends to promote it.

- Adam Smith

Adam Smith expected the "invisible hand" of the market to correct  
unbalanced conditions and provide for the greatest good.  His simple  
dictum doesn't consider or understand the difference between positive  
and negative feedback loops.  Or the impact of non-economic responses  
to economic conditions, e.g. global warming or violent revolution's  
effect on a free market.

David

On Mar 4, 2009, at 8:09 AM, Walt Wentz wrote:

> Assuming the article in "West" actually appeared,  and if so, that  
> it  was not made up of whole cloth, we are still required to make a  
> leap  of faith that might well split the trousers of the most  
> athletic;  namely, that Strong actually is a "secret agent" for a  
> "secret cabal"  of powerful industrialists and CEOs and bankers,  
> operating secretly  in the belly of the Davos Conference. We have  
> only the author's word  ...