This holds the key to understanding the Market Maker’s every move:

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This was a reply to an earlier post “What Billionaires Know”

Hi Ian,

You’re making a common mistake. To equate capitalism to “a system that puts profits before people” is to make a connection that is simply not there.

Capitalism does NOT equal “morality.”

There is no other system in the history of our planet that has generated as much freedom, wealth, or met peoples’ “needs.”

This is NOT to say Christianity.

This is NOT to say “the American way.”

The “mindless drive for profits” is NOT capitalism – it is a moral issue between men.

Do we need more regulation?  There are, at current estimates 600,000 laws, regulations, and statutes on the federal, state, county, and city levels.

How can we POSSIBLY regulate MORE?

If we had 600,001 would the crisis have passed?  Would we have missed it?

Sadly, no.

A microcosm of the “bubble” can be summed up in a man I know named Jeff, who happens to be a real estate broker.  He purchased a home by falsifying his mortgage application – at the prodding of his loan officer.

He wasn’t thinking of his single purchase’s impact on “the needs of others”, the loan officer wasn’t necessarily “putting profits before people” – on a global scale.  But, to add millions of these decisions together IS to impact the “needs of others.”

Morally, should Jeff done something different?  YES!  Should the loan officer made a different choice? YES!

They both did this with EXISTING law saying it was wrong.

What I see missing is NOT laws, regulation, or other government meddling in these individual’s lives.

What I see missing is COURAGE.

COURAGE to live in a smaller home.

COURAGE to live within one’s means.

COURAGE to say no to ‘easy money.’

COURAGE to do what is right and good.

For THAT we only need freedom. The freedom to choose to do the right – and the freedom to choose to do wrong.

And for THAT we need capitalism, a free market, and a free people.

Ian said:

“The discovery clearly shows that more and more the `for profit` ideology and the (Capitalist) system it creates is more and more becoming outdated.  It shows that a system that puts profits ahead of the needs of people would NOT be the future of the World.   Especially as we are in a severe economic crisis (brought about mainly because of the `mindless` drive for profits), in which the system can not re-start itself despite trillions of bailout money,  people are beginning to realise that the Capitalist system itself (i.e. a system that puts profits before people) is one of the fundamental reasons for the problem in the world. That, eventually, IF we are to survive, we will have to find a way to properly regulate (or even do away with) the system of Capitalism.”

Courtesy of http://www.youtube.com/watch?v=OSYtQy9EqTA

You. Are. Powerful.

Bill Murray… great for some laughs.

It’s NED! Ned Reyerson.

Happy Groundhog day.

Ok, I finally go fed up with guessing when Daylight Savings would kick in.

This is from the Navy’s Oceanography site:

Daylight Time

Starting in 2007, daylight time begins in the United States on the second Sunday in March and ends on the first Sunday in November. On the second Sunday in March, clocks are set ahead one hour at 2:00 a.m. local standard time, which becomes 3:00 a.m. local daylight time. On the first Sunday in November, clocks are set back one hour at 2:00 a.m. local daylight time, which becomes 1:00 a.m. local standard time. These dates were established by Congress in the Energy Policy Act of 2005, Pub. L. no. 109-58, 119 Stat 594 (2005).

Not all places in the U.S. observe daylight time. In particular, Hawaii and most of Arizona do not use it. Indiana adopted its use beginning in 2006.

Year Begin End
2006 April 2 October 29
2007 * March 11 November 4
2008 March 9 November 2
2009 March 8 November 1
2010 March 14 November 7
2011 March 13 November 6
2012 March 11 November 4
2013 March 10 November 3
2014 March 9 November 2
2015 March 8 November 1
* New law went into effect.

Many other countries observe some form of “summer time”, but they do not necessarily change their clocks on the same dates as the U.S.

Daylight time and time zones in the U.S. are defined in the U.S. Code, Title 15, Chapter 6, Subchapter IX – Standard Time.

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