Sunday, November 15, 2009

Informed comments of a reader on my article on free market capitalism

Hermann wrote in the Asian Tribune:

Your article is well timed. Most of the people who are rich and comfortable in life want no law or regulation when it comes to fleecing public of their savings. Yet, the same greedy lot wants other criminal laws well applied and strengthened. These are the people who want more police and defense mechanisms to keep the innocent civilians from voicing dissatisfaction.
The notion that people should be allowed freedom to trade in share market is a myth. Even a well educated resourceful person cannot fully grasp the market forces to make an intelligent investment. The media gives such a bang about money made in the stock market but they never visit the other side to show the losers. For every dollar one make, another has to loose. The stock market is an unregulated gamble like the lottery tickets. At least lotteries are well regulated, but stock market is not. That is why time and again we find fraudsters doing insider trading and siphoning billions of dollars from the system.

Enron scam should have put a stop on this unregulated financial transactions well in time before the current financial collapse came. But the greedy and the rich wanted more. They will not allow to share the wealth. They want it all.

Current crisis in the US healthcare reform is laughable. The very people benefiting from the proposal are being dragged for a few dollars to oppose the legislation. It is a fact most of the Americans do live sub-standard life. One major affliction at later part of their life will destroy all their life savings.

Then we have seen how insurance industry works in these capitals. They boast about the benefits on paper and get so many involved. But when the actual incident occurs to pay, they will read through the fine print to deny the claim. The so called well insured do live in an illusion in the west. When they need insurance payout most, will see their claim rejected or marginalized because of some fine print.

The people who can change laws and ascended to the pinnacle are rich and famous. They do not want any restrictions of their wealth and ability to make more money from the innocent soles. The so called independent media is also in the hands of rich and famous, so what do you expect. We hear and see only the rosy side of events.


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