The Coming Collapse: “We Can Buy Time, But We Can’t Change the Outcome”(ARI going mainstream?)

Yahoo! ^ | 09/16/11 | Aaron Task

[TigerLikesRooster]

The Coming Collapse: “We Can Buy Time, But We Can’t Change the Outcome”

By Aaron Task | Daily Ticker – Fri, Sep 16, 2011 1:23 PM EDT

The Ayn Rand Institute held its annual "Atlas Shrugged Revolution" dinner Thursday night in New York City.

In attendance were a number of financial luminaries and hedge fund managers, including Peter Schiff of EuroPacific Capital, John Tamny of RealClearMarkets, Dmitry Balyasny of Balyasny Asset Management and Scott Schweighauser of Aurora Investment Management.

The setting was the tony St. Regis Hotel on Fifth Avenue but there was nothing pleasant about the primary message coming from both the speakers and those in attendance: Western civilization is heading for hell and a hand basket, just like Rand predicted in her seminal novel.

In the accompanying video, ARI president Yaron Brook tells Henry why Rand's devotees believe the global economy is "heading for collapse."

In a nutshell, Brook believes politicians and policymakers have "no solutions" for the problems facing the globe.

"The fundamental problem," Brook says, is with the philosophical belief our society has that governments can solve problems and more rules and regulations are the answer to our economic ailments.

Barring "real structural change" to our economic underpinnings toward self-reliance and true laissez-faire capitalism, "we can buy time, but we can't change the outcome," Brook says.

[TigerLikesRooster]

P!

[IncPen]

Funny that this is posted the same day that Obama is proposing more taxes and more spending.

They may not be able to avoid the inevitable, but they certainly won't miss an opportunity to make it worse.

[G Larry]

There are “solutions”, it is the political will that is lacking.
Socialism fails wherever it is tried.

It must be rejected and replaced with market based economies.

Obama must be defeated!

[Travis McGee]

[MrB]

All the supporters of socialism/communism need to be “outed” and ridiculed.

As things stand, the left has successful made it more likely that anyone doing the “outing” will be ridiculed for stating such an outlandish thing, though it’s true.

[onedoug]

Institute ping....

[no-to-illegals]

My humble opinion is economies run in cycles from bad to good then bad to good. Additionally, all nations have self-interest or all nations governing bodies have self-interest regarding maintaining power and control over their populations. Couple with trade policies, which are unfair to one nation or another, minus global monetary ebb and flow regarding distribution, couple with necessary resources for required growth, minus advisers who do not fully understand a global economy, as all nations have always been subject to, couple with greed of governments, minus those who are betrayed, by treaties, and those who believe betrayal subjects them to a lower standard of living, couple with over regulation, minus actual global policy, couple with loss of control by some governments to formulate control over their populations, and the result is what has always been and will always be chaos regarding economics globally. To solve the problems associated with global policy always requires more pie given than those who hold that piece of the pie are willing to surrender and always eventually leads to the unthinkable. I believe it is a vicious circle which has no beginning or end, but is rather a continuance of bad to good, good to bad. Regrettably, bad eventually rules the day, as history teaches. Also believe there is no solution unless governments are willing to declare jubilee, then there will be those who played by the rules who receive the shaft while those who did not play by the rules get the gold in the mine. This always leads one back to square one. (imho)

[Nip]

Under the concept of “structural change” why don't we prohibit lawyers from being elected to Congress?

Perhaps with a government dominated by businessmen (like it was prior to the 20th Century) we can not only reduce the cost of government but also reduce its size.

Businessmen know what it takes to make money both for themselves but for the rest of us too. And, they also know how to reduce personnel overhead to help them make money.

What would be like to live with an administration that reduces regulations and bureaucratic empires instead of living under an administration that increases regulations and bureaucratic empires?

[Recovering_Democrat]

Pessimists. Ever heard of revival? The Tea Party? Reaganism?

[4Liberty]

After gutting the capital markets with bad loans and trillions in coming tax burdens for unsustainable entitlement programs, the Rats have effectively eaten our seed corn.

Rats, if you are on Free Republic, PLEASE read this:

Lending activity (debt, borrowing) is for: Investment (efficiency enhancing R&D and new capital goods). NOT CONSUMPTION (CONSUMER GOODS).

[C. Edmund Wright]

So, where is Galt’s Gulch so those of us who realize this can escape?

[thesearethetimes...]

Of interest.

May God guide our course.
Tatt

[the invisib1e hand]

Ayn Rand: most successful enabler of Marxism since Marx.

[Rich21IE]

No amount of optimism or revival eliminates a 15.5 Trillion dollar debt. The sooner this thing collapses, the sooner the pieces can begin to rebuild themselves.

[Night Hides Not]

So, where is Galt’s Gulch so those of us who realize this can escape?

Texas.

I know that Galt's Gulch is in Colorado, but Texas comes a close second, particularly if you don't include Austin.

[crosshairs]

The solution (unfortunately) is a one-world government and a reset button.

[crosshairs]

The solution (unfortunately) is going to be a one-world government and a reset button.

There. Slight adjustment.

[Recovering_Democrat]

I don’t deny massive changes are needed in the structure of the welfare state. But collapse is not the only option to effect that change.

[CitizenUSA]

no-to-illegals: “Also believe there is no solution unless governments are willing to declare jubilee...”

That has to be the worst idea I have ever heard.

jubilee: “In the Hebrew Scriptures, a year of rest to be observed by the Israelites every 50th year, during which slaves were to be set free, alienated property restored to the former owners, and the lands left untilled.”