One of the most influential investors in the world of finance has a message for conservative lawmakers...

[Mr. Big Dog 10,747]

It [gubmint] cannot do anything positive without having a negative effect first.

Which is why places that have no gubmint are such paradise compared to those that do have gubmint. Surely, standards of living in Somalia are far superior than those in North America. Why? Well, because them Somalis don't have a damn gubmint standing in the way of their prosperity. They showed the gubmint out the door years ago and the country has nothing but flourished since.

[mawilson 2,133]

Which is why places that have no gubmint are such paradise compared to those that do have gubmint. Surely, standards of living in Somalia are far superior than those in North America. Why? Well, because them Somalis don't have a damn gubmint standing in the way of their prosperity. They showed the gubmint out the door years ago and the country has nothing but flourished since.

[scandal 951]

Well.... you'd expect a Wall Street guy to say that. Stimulus = money in his pocket now.

PIMCO (Laguna Beach, CA) is hardly Wall Street.

And a Buy Side fund manager is hardly a Sell Side investment bank.

Gross is basically right in rejecting the idea of spending cuts as job stimulus. Bernanke said as much in his Press conference yesterday following the FOMC meeting.

"I don't think that sharp immediate cuts in the deficit will create more jobs. I think in the very short run, we are already seeing a certain amount of fiscal drag coming from state and local government as well as the withdrawal of previous federal stimulus," said Bernanke, first nominated by a Republican president and re-nominated by a Democratic one. "What people should understand is that our budgetary problems are very long-run in nature."

Now I suppose you'll tell me Bernanke is also a creature of Wall St. Well, I guess Princeton University is closer to Wall St. than Laguna Beach is, for whatever that's worth.

[Danno 1,228]

Which is why places that have no gubmint are such paradise compared to those that do have gubmint. Surely, standards of living in Somalia are far superior than those in North America. Why? Well, because them Somalis don't have a damn gubmint standing in the way of their prosperity. They showed the gubmint out the door years ago and the country has nothing but flourished since.

Lets be honest..... with or without a Government, Somalia would be little more than a toilet without a lid.

BUt feel free to use the Somalia example once more if you like.

[^_^ 5,021]

With the right governance Somalia could be a pretty good place to live. Any country could.

[Mr. Big Dog 10,747]

With the right governance Somalia could be a pretty good place to live. Any country could.

Not only that. Even with, shall we say, questionable governance the country would do better. All it's neighbors are. And they don't necessarily have what I'd call good governance. It's quite simple, really. Lack of governance results in chaos. Chaos is not conducive to achieve a better society or better economy or better anything. The anti government freaks just can't get that simple concept into their skulls.