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Posted on 12/11/2008 8:03:35 AM PST by rabscuttle385
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>Yet the truth is that the source of the crisis was not private free markets, but markets tainted by mistaken government policies designed to satisfy special interest groups.<
Isn’t that the truth! I’m shocked that a journalist would get it correct in this day and age.
I was mistaken, the writer is James A. Dorn is vice president for academic affairs at the Cato Institute and professor of economics at Towson University.
Well, it wasn’t a journalist. The columnist is with CATO. :P
I’m becoming convinced that we are witnessing the orchestrated and coerced nationalization of everything. I’m not the smartest guy in the world, but even I have to wonder if the “policies” put in place over the last number of years weren’t intended to bring it down intentionally so as to put this other thing in place?
You can’t help but wonder. Is this setting up for the Amero and the North American Union? Perhaps a new global currency? Perhaps even nothing at all. I guess we’ll see. It is kind of depressing to think of it as a mass nationalization move where this could be the point where we completely abandon the idea of individualism and private property, but as of now I doubt it. There are still too many of us with guns who know how to use them and who cherish liberty.
It’s kind of fun to entertain all these thoughts. Who knows if any of them actually have much merit. I guess we’ll find out soon enough.
The reason both parties blame the markets is the CRA bill that Clinton signed in 1999 was passed by the Republican controlled congress and I am willing to bet that McCain voted FOR that POS.
Not shocking — wasn’t a journalist.
Yes, all my stuff is mere speculation. Comparable to the story line one might use for a paperback novel. Of course, sometimes I think we’re likely to read more actual truth in what’s sold in the “fiction” aisle than in the newpapers.
“Before credibility can return to financial markets, however, there must be a restoration of confidence in government as the protector and guarantor of our economic liberties.”
Not happening........in my lifetime.
The US automakers have gotten fat, dumb and happy. Similar to the current housing bubble and the previous e-commerce boom and bust, valuations were inflated and now we are experiencing a correction — meaning that prices are being adjusted to actual value rather than perceived value.
If we want to rescue the US economy, what we must do is abolish taxes on income, savings and investment. Then replace them with consumption taxes. That will eliminate the liquidity problem and the economy will take off like a rocket. Don’t expect that to happen under Obama’s promised National Socialist agenda.
Companies with inflated labor costs like the auto industry will adjust or be replaced. Let us not forget that foreign-designed cars are being made in the US. If the demand for cars is the same, these union-contract jobs will be replaced with ones that pay wages that are competitive in the world market. Quite unlike they are today.
The attack on free markets occurs when central banks incorrectly blame economic growth for inflation, and invert their yield curves in order to stop economic growth, but nobody ever complains about that. The only time people complain is when the government tries to step in to clean up its own mess.
I think the three of us could probably build a pretty solid argument that this recession was timed and planned with bringing in a non-citizen communist president to lead us into national socialism. This includes changing over our financial system to the Amero dollar of course.
The New World Order has been discussed on FR for a few years now. Agenda 21 is openly running smoothly in Europe and soon (one decade) America will look just like Britain does. The shifting flow of workers across our borders as they are needed will become an everyday occurrence.
Be prepared to give a final salute to the Republic because soon the UN Charter will be mounted on the walls of the Pentagon, every post office, bank, school, state and federal office across these united States.
It certainly is scary to think about. What I fear is the US merging with Canada and Mexico, the establishment of the Amero, a new non-national global currency (the worldo or gaio or terro perhaps haha), and a greatly strengthened UN with global taxing and judicial power, even if control is centered around the Western world and not dictated by third world countries.
The scariest thing to me though is the idea that we as people will demand this new world government or at least cozy up to the it and deem it necessary.
This recession travel across the world in a couple of weeks. Sectors of every country were hit hard. They knew something was happening and it was affecting them. It only made sense that it originated in the US because we were the worlds largest free spender. Operating with a deficiency budget didn’t bother our legislators at all. After all it was a debt that they never had to be concerned about paying off. Us citizens didn’t lose sleep over it because we couldn’t get anyone with any authority to care about it.
When Bush got going on the free trade amendments in his first term, he had solid backing here on FR by a trained team of free trade marketers. Globalism was marching forward no matter what us idiot protesters thought. He tried a couple of times to get L.O.S.T. passed a couple of times and when us anti UN fools screamed we were shut down by the Bush Bots.
Well now that globalism is firmly established and the free trade markets have collapsed I can only hope that as we slip into this depression that the Bush Bots get a second look at what he has accomplished.
Correct me if I am wrong, government can only do one thing, take wealth from some people to give to another, through taxes, spending and printing. The idea is that federal government knows what’s best for the greater number of people.
They cant really just make money and give it away (beyond above), but right now we are being told that deflation allows the feds to get money for free, printing during deflation.
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