WORLD ECONOMIC POLICY: MY ADVICE!

DEAR READERS: I'M SENSING A LOT OF CONFUSION AND SEEING MANY DESPERATE AND PANICKY ACTIONS AMONG THE WORLD'S MOST PROMINENT ECONOMIC POLICY MAKERS. I TELL THEM THIS: STICK AND TRUST TO WHAT YOU HAVE LEARNT IN COLLEGE: RESPECT THE MARKETS WHILE YOU TRY TO SOFTEN THIS CRISIS' EFFECTS ON PEOPLE (DEFEND YOUR CONVICTIONS VS YOUR BOSSES, THESE BEING MINISTERS, PRESIDENTS OR PMs., CONGRESS OR PARLIAMENT, MEDIA, ETC. OTHERWISE RESIGN) RECOGNIZING THAT THESE ARE TESTING TIMES, THE COUNTRIES THAT ARE GOING TO END UP BETTER POSITIONED FROM IT ARE THE ONES THAT REJECTED THE SEEMINGLY EASIER BUT ABSURDLY COSTLIER SHORT-TERM POPULIST SOLUTIONS AND EMBRACED STOICALLY THE MOST SENSIBLE ONES. THUS, IF YOU ARE SINCERELY COMMITTED TO SEE THE WORLD OUT OF THIS TROUBLE BUT DOUBTFUL THAT SOME PAINFUL THOUGH RATIONAL COURSE OF ACTION IS THE BEST DECISION TO MAKE, THEN TRUST YOUR INSTINCTS (INTELLECTUAL INTUITION) FOUNDED ON THE ADVANCEMENT OF HUMAN KNOWLEDGE WHICH HAS BEEN THOROUGHLY EMBEDDED EVEN IN YOUR HUMBLEST AND MOST BASIC MODERN ECONOMICS TEXT BOOKS DURING THE PAST DECADES AND..... MAKE THAT DECISION. YOU ARE RIGHT NOW RESPONSIBLE FOR THE WELL-BEING OF SO MANY HUMAN LIVES. PLAY IT SMART! MARX, KEYNES ARE DEAD AND A WHOLE NEW AND BETTER WORLD IS WAITING FOR US!---- DON'T MESS WITH THE MARKETS!.... J. CNN

WHAT GOVERNMENTS SHOULD DO!

COMMENTARY ON THE PRESENT WORLD
FINANCIAL CRISIS:

Financial Markets can and should regulate themselves. We, world citizens, have to learn to respect that. Sometimes they are harsh on us because we act irresponsibly but then we must humbly accept punishment for that behavior. The international financial system's shaping forces are in some instances beyond our understanding. That's nature at its best. It's simply not right to defend its freedom whenever things are going smoothly and attack or reject it when they turn sour.

Regulators think they know better! They don't!
Regulators think they can control them (markets)!They can't!

Certainly there are always a few things that can be done by governments to alleviate the human suffering "creative destruction" caused by their (markets) reactions.

The statesman-like wisdom lies in choosing a course of action that doesn't mess with the profound changes they bring. Not doing so will only carry later on a bigger damage to our welfare. Better pay it lightly now.

The world economy requires to clean itself from inefficient matter from time to time, that is what "Economic Recessions" are for. "Economic Depressions" on the other hand come when several recessions which should have taken place were avoided.

"Government Central planning cause depressions"
"Markets' Adjustments Only Cause Recessions"

Please Mr Bernanke, Mr Paulson, leave the markets alone. The financial dictatorial powers you are asking for from the US Congress will only slow down human progress and in the middle and longer term will only make this systemic risk worse. I know power bestowed by people is hard to relinquish and I know you both have the best honorable intentions. In these testing times do trust your academic and vanguardist knowledge, hold yourselves.

Less governmental interference and more customer sovereignty in products and services (investments).

Be humble enough and relinquish that power.

Your only accepted task in the regulations' planet must always be to try to make free and fair competition a more ubiquitous reality all over the world.

Please comment on this:

juancarlosnavanava@yahho.fr

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