tag:blogger.com,1999:blog-22020163.post8829648001693004614..comments2023-10-24T07:28:50.297-04:00Comments on Thinking on the Margin: The Coming Inflation Holocaust?Brian Hollarhttp://www.blogger.com/profile/09365101283657395331noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-22020163.post-23387371645635669902008-10-17T08:57:00.000-04:002008-10-17T08:57:00.000-04:00Rogers is way too hyperbolic here.His use of this ...Rogers is way too hyperbolic here.<BR/><BR/>His use of this term "inflation holocaust" is way overboard. <BR/><BR/>And his callous way of disregarding the pain of these people who will "hit bottom" is rather Hooveresque.<BR/><BR/>Sure, in capitalism, there is a Darwinian element, an element of creative destruction, but allowing a huge financial collapse is not a good idea.<BR/><BR/>Suppose the govt had allowed AIG to fail, along with Merryl Lynch, Washington Mutual, and Wachovia.<BR/><BR/>We'd surely be at a far worse point than we are now.<BR/><BR/>Some types of failure are so huge, so catastrophic, that if allowed to happen, would cripple the markets for years to come.<BR/><BR/>Then there's the political fallout. It seems some economic commentators never want to consider that. If you allowed such a massive collapse, what would happen? You very well may have so many people in pain, that there may be a reaction against the entire capitalist system itself. <BR/><BR/>Finally, there's a psychological component. If you allow such a massive collapse, the loss of confidence in the system by the masses would last an entire generation.<BR/><BR/>So it's always interesting to hear from people who just want to allow other people to lose so big. I bet that Mr Rogers, if people followed his advice, would not have nearly so much at stake, and thus can offer his advice in his own self comfort.thinkinghttps://www.blogger.com/profile/06024721812573340354noreply@blogger.com