So ban me, I don't have a question
Mish says "Instead of doing what right, more and more legislation is piled on top of existing legislation."
Are you familiar with software? It's no different in the software world, which means that the problem maybe part of the human condition. Nobody really likes change except a wet baby.
In software, once version 1 of a program is built, everything is integrated and pasted on top of the existing base (MS Windows, for example). You are always be constrained to the version 1 foundation. It's so much work to re-engineer a working programs code base that few companies are willing to do so. Mostly, companies have their time in the sun with their special program but because they can't muster the resources or gumption to rewrite their code, they're eventually superseded and put out of business by someone who CAN start from zero.
Similarly, as long as the present political structure exists in the USA, nothing will ever change, whether that be laws, institutions such as the FED or the tax code. Unfortunately, only revolution and a complete cleansing will bring recognizable change - and a revolution is not likely to happen anytime soon. We just have to deal with it. If that doesn't work for anyone, then I guess there is always Second Life....
Are you familiar with software? It's no different in the software world, which means that the problem maybe part of the human condition. Nobody really likes change except a wet baby.
In software, once version 1 of a program is built, everything is integrated and pasted on top of the existing base (MS Windows, for example). You are always be constrained to the version 1 foundation. It's so much work to re-engineer a working programs code base that few companies are willing to do so. Mostly, companies have their time in the sun with their special program but because they can't muster the resources or gumption to rewrite their code, they're eventually superseded and put out of business by someone who CAN start from zero.
Similarly, as long as the present political structure exists in the USA, nothing will ever change, whether that be laws, institutions such as the FED or the tax code. Unfortunately, only revolution and a complete cleansing will bring recognizable change - and a revolution is not likely to happen anytime soon. We just have to deal with it. If that doesn't work for anyone, then I guess there is always Second Life....
The reply was in response to this blog entry:
http://globaleconomicanalysis.blogspot.com/2007/10/mortgage-forgiveness-act-seen-and.html
