CauseWithoutARebel's Journal: The Asian markets are...

... in sharp decline.

Topix - the TOkyo stock Price IndeX - is off 2.75%, the Nikkei 225 is off over 2%. Apparently, they're reacting to news that the IMF doesn't believe the housing problems currently dogging us are going to end any time soon.

I'm generally reticent about government getting involved in market matters, but I think our recent troubles, and the accompanying problems around the globe, are pretty strong evidence that if you're going to have government manipulation in the markets, it ought to be aimed at prevention rather than at reaction.

Government bailouts and additional deficit spending won't solve our current problems, mostly brought on by deficit spending from other sectors. Governments should set the rules ahead of time so that honest businesses can evaluate the risk of setting up shop in-country and choose to either operate within the parameters given, or go somewhere else.

It's unfortunate, really, that most people's "knowledge" of government intervention and regulation only extends as far as screaming socialism at everything that moves.