I'm pretty ecstatic for Ugly after I read the news that he's quitting his job to join a web startup building ATS's. I consider Ugly the friend I never met and he's been the inspiration for me to start my own ATS. I can't help but think about Ugly's post today and his discussion about "earned wealth" and the creation of value. It wasn't until I read Atlas Shrugged, nearly 15 years ago, that I understood this important concept. I'm happy that Ugly has seen the light.
As our society becomes more socialized, with our citizens expecting the government to take care of them (i.e. healthcare), I expect more and more rogue thinkers/entrepreneurs to gravitate to Ayn Rand's ideals and seek true capitialism. A lot of deluded people think that capitalism has failed because of the recent credit crisis and the "greed" that got us here. The real reason we are in this mess was that Greenspan sold out and catered to the Bush Administration by lowering rates to ridiculous levels just to keep dubya in office.
Now, with the Fed bailing out Bear Stearns, we set the precedent that banks can create risky loans, screw the citizen in the process, and get bailed out by TAX PAYER money when things go wrong. Once again we see a system of "privatize the profits, and socialize the losses."
If you haven't read Atlas Shrugged, I suggest you pick up a copy and do so. It will change your life and how you see Capitalism. It truly is the motor of the world.
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