If I want stock in Ford or GM I will go out and buy some. I had some stock in AIG and lost my ass on it a few months back. That was my deal and I took the hit and I’m not asking the taxpayers of this country to bail me out.
I want stock in Ford or GM I will go out and buy some. I had some stock in AIG
and lost my ass on it a few months back. That was my deal and I took the hit
and I’m not asking the taxpayers of this country to bail me out.
government bailout of the banking industry has manifested itself as a real
slippery slope. Now we are witnessing a parade of chief executives and mayors
and governors sticking their hands out for a free ride. “You bailed out the
banking and insurance industry, Uncle Sam, why not me?”
do not wish ill on anyone. I realize some folks are suffering right now. But
the best thing that could happen to some of these enterprises (or cities or
states) would be for them to collapse into bankruptcy and start over fresh. To
prop up failed enterprises with government money (yours and mine and our
children’s and grandchildren’s) is pure folly. Albert Einstein defined this
behavior with his definition of insanity: “doing the same thing over and over
again and expecting different results.”
I say “no thanks” to the offer to have the country bail out Ford or GM or any
other publicly or privately held enterprise “for the sake of the economy.”
Capitalism has shown itself to be resilient and self-healing over and over and
over again. Why do our political leaders not believe in it? Why do our citizens
not believe in it? It is a mystery to me.
my hometown was burned to the ground just to put an exclamation point on the
end of the War Between the States. Today the only evidence remaining is etched
on slabs of limestone scattered around in parks and some museums (and on the
side of Stone Mountain). There was suffering
but healing has followed and for some continues to this day. But we are alive
and well and have much to live and be thankful for.
occurring on Main Street USA are nowhere near as horrific as the scene of Atlanta burning, but you
would not know it from the media and the overreacting and overbearing federal
government. I pray that our country will wake up and let the forces of nature
in this economy take their course.
sometime, the people in this country started to believe that they were entitled
to nothing but good times. If you are damaged or suffer in some way it is up to
the rest of the people in the country to make you whole. Personal
responsibility has given way to a mob mentality that is generating less
productivity and more discontent.
is we are living in a competitive world economy. We face a future of competing
with emerging countries for resources and work. If we do not follow our own
model of rewarding risk-takers and hard workers, we may wake up bankrupt
get me wrong … there are some folks in some situations who need a helping hand.
But if we do not allow strong individuals to prevail, whose hand will those in
need reach out for? I pray our leaders will soon come to the realization that
despite some reverses in the economy, we are going to come out of this leaner
and more competitive. We will be just fine if they will just stick to the
basics and not try to artificially save (any part of or all of) the economy.
Damato of the Day Is ... "No Thanks"
By Rick Damato
Rick Damato is the editorial director of Roofing Contractor. He has held a number of posts in the roofing industry since 1974 and has contributed to the magazine since its inception in 1981. He can be reached at 770-331-7858 or on Twitter @RoofsByRick.