Saturday, August 16, 2014

Rumpelstiltskin's new spinning wheel

This story at Bloomberg sketches out the latest scam that the usual suspects (Goldman Sachs, Morgan Stanley, Barclays etc.) have devised in order to further enrich themselves while contributing absolutely nothing to society at large.

It seems to me a tragic waste that so many fine minds are bent to constantly inventing and refining dubious get-rich-quick schemes. It's all fun and games till we have another Long Term Capital or an Enron on our hands, at which point we all get to pay to clean up the mess.

That's why the think tank here at Falling Downs has long advocated for a 100% tax on non-productive economic activities.

Cut out this nonsense and use your money and your brains to do something useful.

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