Is Greece too big to fail and Iceland not? Just wondering, who is going to decide? Is it going to be the same politicians that decided who to save (GS) and who to dump (LEH)? or GM vs Toyota? Will it be with the same "sage" reasoning with which they carved up Europe after WWI to spawn WWII?
If bailing out worked, we would have solved the hunger problem, the education problem, the housing problem, not to mention the unemployment problem long ago, all wars and poverty would have been by now old history, for we'd be living in eternal peaceful bliss, all equally rich, and equally supported. We've certainly have spent enough on all of those in the last 50 years alone. I am not speaking of emergency needs. I am speaking to and about long term dependence which is what we are spawning daily.
But on a deeper level, really, not one entity is too big to fail. If there were such a thing, Dinosaurs would still roam the earth. Yes, tongue in cheek, yet if you think about it, without failure we'd learn nothing or learn much more slowly what works and what does not. Yes, people died learning which plants were edible and which not. babies fail to walk until they learn not to fall down and as we witnessed ten years ago, failure to take heed, brought overvalued stocks crashing down around our inflated heads.
The question is: Is failure the lesson or is failure the demise of who or what we are; and if we are not allowed to fail, how do we know the answer?
Happy Trading, Living and Dancing
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