<div dir="ltr"><div class="gmail_default" style="font-size:small;color:rgb(0,0,0)"><p class="MsoNormal" style="font-family:Arial,Helvetica,sans-serif;color:rgb(34,34,34)">Regarding stock market failures in 2008, that was success: without outside assistance, the invisible hand of capitalism found the real value of the investments being sold.<u></u><u></u></p><p class="MsoNormal" style="font-family:Arial,Helvetica,sans-serif;color:rgb(34,34,34)"><u></u> <u></u></p><p class="MsoNormal" style="font-family:Arial,Helvetica,sans-serif;color:rgb(34,34,34)">spike</p><p class="MsoNormal" style="font-family:Arial,Helvetica,sans-serif;color:rgb(34,34,34)"><br></p><p class="MsoNormal" style="color:rgb(34,34,34)"><font face="comic sans ms, sans-serif">It was very good that they found out for themselves what they did wrong, but too late to avoid trillions (?) of dollars lost by people's retirement funds et alia. I certainly would have bitten that hand. I did not follow that story, (no dog in the fight) but surely government did some regulatory something to halt this sort of thing before it got out of hand. Huge corporations going out of business. Hard for me to call that success unless you regard the company as having been a tumor in the marketplace to start with. Propping up GM with our money. Success? I would have let them die.</font></p><p class="MsoNormal" style="color:rgb(34,34,34)"><font face="comic sans ms, sans-serif">bill w</font></p></div></div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Tue, Aug 27, 2019 at 4:02 PM ilsa via extropy-chat <<a href="mailto:extropy-chat@lists.extropy.org">extropy-chat@lists.extropy.org</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div dir="auto">Manly Hall</div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Tue, Aug 27, 2019, 1:48 PM spike jones via extropy-chat <<a href="mailto:extropy-chat@lists.extropy.org" target="_blank">extropy-chat@lists.extropy.org</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div lang="EN-US"><div class="gmail-m_-8638735818143510883m_8055904081407101413WordSection1"><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal"><b>From:</b> extropy-chat <<a href="mailto:extropy-chat-bounces@lists.extropy.org" rel="noreferrer" target="_blank">extropy-chat-bounces@lists.extropy.org</a>> <b>On </b><br><b>Subject:</b> Re: [ExI] philosophy poll<u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><div><div><p class="MsoNormal"><span style="font-size:12pt;font-family:Arial,sans-serif">>>…<span style="color:rgb(34,34,34)">Market failures are what causes market successes. spike</span></span><span style="font-size:12pt;font-family:"Comic Sans MS";color:black"><u></u><u></u></span></p></div><div><p class="MsoNormal"><span style="font-size:12pt;font-family:"Comic Sans MS";color:black"><u></u> <u></u></span></p></div><div><p class="MsoNormal"><span style="font-size:12pt;font-family:Arial,sans-serif">>…<span style="color:rgb(34,34,34)">OK you knew when you wrote that that I was going to ask about it. I thought market failures, like 2008, were caused by nearly worthless instruments bundled with totally worthless ones and sold to dupes. I can see where, having made such a big boner of an error, that they won't do that again (?), but is that the cause you refer to? bill w</span><span style="color:black"><u></u><u></u></span></span></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal">No, I meant companies compete with each other, they make stuff, some of their products succeed, others fail. <u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal">Ford built a car called the Edsel for instance, with lots of safety features such as seatbelts and such. Meanwhile GM built faster cheaper cars, and ate Ford’s lunch. The Edsel was a market failure, the Impala is much loved to this day. Ford took the Edsel seatbelts and built a new, better car around them (the Mustang.) The companies competed, the consumers won.<u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal">Communism suppresses market competition. Their manufactured stuff doesn’t evolve. Our does.<u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal">Regarding stock market failures in 2008, that was success: without outside assistance, the invisible hand of capitalism found the real value of the investments being sold.<u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal">spike<u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal"><u></u> <u></u></p></div></div><div><blockquote style="border-top:none;border-right:none;border-bottom:none;border-left:1pt solid rgb(204,204,204);padding:0in 0in 0in 6pt;margin-left:4.8pt;margin-right:0in"><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal"><u></u> <u></u></p></blockquote></div></div></div>_______________________________________________<br>
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