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George Will: Upside-Down Economy
realclearpolitics.com ^ | May 10, 2009 | George Will

Posted on 05/10/2009 2:06:22 PM PDT by neverdem

WASHINGTON -- From Oct. 18 to Dec. 3, 1961, 116,000 people visited New York's Museum of Modern Art before anyone noticed that Henri Matisse's painting "Le Bateau" had been hung upside down. Modernity is supposed to "transgress" standards of the traditional, which is why Paul Hindemith, while rehearsing one of his dissonant orchestral compositions, said to the musicians, "No, no gentlemen -- even though it sounds wrong, it's still not right."

Proponents of today's world-turned-upside-down economic policies say the policies might seem wrong but really are boldly modern in their rejection of markets in favor of pervasive government intervention in economic life. Hence New York, which until eight months ago was the financial capital of the world, is no longer even the financial capital of the United States. Washington is.

So says Ian Bremmer in "State Capitalism Comes of Age: The End of the Free Market?" in the current issue of Foreign Affairs. It should be read by Americans who are dismayed by the blurring of the line between public and private sectors.

Most Americans assume -- and are encouraged to do so by those doing the blurring -- that the government is doing this reluctantly and is eager to find an "exit strategy" to "unwind" its interventions. Bremmer, president of the consulting firm Eurasia Group, believes that although the governments of many developing nations have made "a strategic rejection of free-market doctrine," governments of developed countries do not intend to "manage" their economies "indefinitely." About the former, he is correct. About the latter, his wish may be the father of his thought.

Among the myriad signs that many nations are developing systems "in which the state functions as the leading economic actor," Bremmer notes that the 13 largest oil companies are owned and operated by governments and that governments...

(Excerpt) Read more at realclearpolitics.com ...


TOPICS: Business/Economy; Culture/Society; Editorial; Politics/Elections
KEYWORDS: 111th; bho44; bhoeconomy; economy; georgewill; second100days; tocqueville; will
Faux culture...now corrupted economy...
1 posted on 05/10/2009 2:06:23 PM PDT by neverdem
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To: neverdem

-—Amtrack—the “new” business model-—


2 posted on 05/10/2009 2:11:19 PM PDT by rellimpank (--don't believe anything the MSM tells you about firearms or explosives--NRA Benefactor)
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To: neverdem

good George Will column ....every once in a while he still hits em


3 posted on 05/10/2009 2:11:29 PM PDT by woofie
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To: neverdem
THANK YOU for linking to the Printer Friendly version of the article.

Those of us trapped in 56K dialup HELL really appreciate it!

4 posted on 05/10/2009 2:12:22 PM PDT by upchuck (Psalm 109:8 - Let his days be few; and let another take his office.)
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To: neverdem

Well said.

Actually, what we need when Obama enters the room is not so much Hail to the Chief as a little Paul Hindemuth. It suits him.


5 posted on 05/10/2009 2:15:20 PM PDT by Cicero (Marcus Tullius)
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To: upchuck
THANK YOU for linking to the Printer Friendly version of the article.

I try to do it usually all the time, but some websites like the NY Times use a program that defaults to the original URL. Here's an example.

David Brooks: The Harlem Miracle

At (Excerpt) Read more at nytimes.com ..., when you place your cursor over the hyperlink, you can see that the URL is:

http://www.nytimes.com/2009/05/08/opinion/08brooks.html?pagewanted=print

But it opens on the regular webpage.

6 posted on 05/10/2009 2:30:33 PM PDT by neverdem (Xin loi minh oi)
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To: neverdem
It seems bizarre that the "mortgage crisis" alone could dissapear trillions of dollars. the numbers dont add up

it seems almost as if the Federal Reserve bank is trying to bankrupt the USA by creating trillions in imaginary crisis debt and shuttling it out into space, and no one is paying attention .

......like those old people with dementia getting cleaned out by gypsies

The end result would be a total collapse of the US dollar in the world, and a breakdown in the US monetary system domestically.

If this is a manufactured crisis as some suggest, and the current capitalist system fails, wont the result be a total dependence of the people on government, because there will be little to no private sector economic activity ?

Trillions and zillions spent on wars to fight communism or terrorism and this is how it ends ?

7 posted on 05/10/2009 2:32:20 PM PDT by KTM rider (.......and the sheeple feebly bleated in protest)
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To: Cicero

LOL!


8 posted on 05/10/2009 2:32:27 PM PDT by neverdem (Xin loi minh oi)
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To: KTM rider
If the FED buys up all the Junk--which never gets paid back,to who/what does the FED owe / worry about paying back?? It's not that they are a Gubmint/Person, that borrows and pays back debts....They are actually holding all the phony profits that NEVER WERE.....Called, by many, DEBT ?

Justa thought......

9 posted on 05/10/2009 2:39:15 PM PDT by litehaus (A memory tooooo long)
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To: neverdem
Would you know if this "painting" is upside down??
10 posted on 05/10/2009 2:40:25 PM PDT by RushingWater
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To: KTM rider
It seems bizarre that the "mortgage crisis" alone could dissapear trillions of dollars. the numbers dont add up

--snip--

Trillions and zillions spent on wars to fight communism or terrorism and this is how it ends ?

This "crisis" is not about too much credit. That is a symptom provoked by the root cause ..... over $600 Trillion in debt derivatives eating assets around the globe.

Too many clowns trying to make book that can't cover their bets. This wasn't the first time that I saw $600 Trillion. Look up the annual GDP of the USA and the worth of all current assets. These clowns went nuts.

11 posted on 05/10/2009 2:51:26 PM PDT by neverdem (Xin loi minh oi)
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To: woofie

George Will = Charles Krauthammer off of steriods.


12 posted on 05/10/2009 3:04:20 PM PDT by The Duke (I have met the enemy, and he is named 'Apathy'!)
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To: Cicero

Witty.

A Larry Sinclair Waltz, say?


13 posted on 05/10/2009 3:17:26 PM PDT by 1010RD (First Do No Harm)
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To: RushingWater

My guess is that it needs to be rotated 90° counterclockwise.

But I studied engineering in college, so how would I know?


14 posted on 05/10/2009 3:50:03 PM PDT by JeffChrz (Atlas will shrug.)
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To: neverdem
"...what is happening seems wrong. And it is."

George Will woke up? Cool!

15 posted on 05/10/2009 4:50:52 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: neverdem

There is nothing - absolutely NOTHING - which will save the American economy except extensive deregulation of business. It’s vastly ironic to say it, given the history of the Twentieth Century, but apropos nonetheless: just look at China.


16 posted on 05/10/2009 7:05:50 PM PDT by Jack Hammer (here)
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To: neverdem

Will could’ve chosen another thinker from 17 decades ago but did not...

The Law...(excerpts)...

For there are two kinds of plunder: legal and illegal.

I do not think that illegal plunder, such as theft or swindling — which the penal code defines, anticipates, and punishes — can be called socialism. It is not this kind of plunder that systematically threatens the foundations of society. Anyway, the war against this kind of plunder has not waited for the command of these gentlemen. The war against illegal plunder has been fought since the beginning of the world. Long before the Revolution of February 1848 — long before the appearance even of socialism itself — France had provided police, judges, gendarmes, prisons, dungeons, and scaffolds for the purpose of fighting illegal plunder. The law itself conducts this war, and it is my wish and opinion that the law should always maintain this attitude toward plunder.

But it does not always do this. Sometimes the law defends plunder and participates in it. Thus the beneficiaries are spared the shame, danger, and scruple which their acts would otherwise involve. Sometimes the law places the whole apparatus of judges, police, prisons, and gendarmes at the service of the plunderers, and treats the victim — when he defends himself — as a criminal. In short, there is a legal plunder...

But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.

Then abolish this law without delay, for it is not only an evil itself, but also it is a fertile source for further evils because it invites reprisals. If such a law — which may be an isolated case — is not abolished immediately, it will spread, multiply, and develop into a system.

Now, legal plunder can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits, minimum wages, a right to relief, a right to the tools of labor, free credit, and so on, and so on. All these plans as a whole — with their common aim of legal plunder — constitute socialism.

But, unfortunately, law by no means confines itself to its proper functions. And when it has exceeded its proper functions, it has not done so merely in some inconsequential and debatable matters. The law has gone further than this; it has acted in direct opposition to its own purpose. The law has been used to destroy its own objective: It has been applied to annihilating the justice that it was supposed to maintain; to limiting and destroying rights which its real purpose was to respect. The law has placed the collective force at the disposal of the unscrupulous who wish, without risk, to exploit the person, liberty, and property of others. It has converted plunder into a right, in order to protect plunder.

It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder.

Frédéric Bastiat 1801-1850.


17 posted on 05/10/2009 8:18:43 PM PDT by PGalt (The best article I've ever read from George Will was about baseball)
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To: PGalt

Thanks for the quote! Can you link the source, please?


18 posted on 05/10/2009 9:04:08 PM PDT by neverdem (Xin loi minh oi)
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To: Paladin2
georgy porgy can go fly a kite....he wasn't there when we needed just a little more support last fall....

no...these so called "conservatives" rather throw the election to a communist lightweight who can't put a whole sentence together without a teleprompter and yet now he complains....

GEORGE......ITS GOING TO GET WORSE...GET USED TO IT....WHEN WE NEEDED PATRIOTS TO SUCK IT UP, WE GOT THE LIKES OF YOU AND POWELL AND THE REST OF THE ILK.....

19 posted on 05/10/2009 9:56:35 PM PDT by cherry
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To: cherry

“GEORGE......ITS GOING TO GET WORSE...GET USED TO IT....WHEN WE NEEDED PATRIOTS TO SUCK IT UP, WE GOT THE LIKES OF YOU AND POWELL AND THE REST OF THE ILK.....”

Exactly!


20 posted on 05/10/2009 10:06:59 PM PDT by nowheretohide
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To: neverdem

Bastiat’s The Law:

http://bastiat.org/en/the_law.html

Everybody that believes in limited government should have this on the essential read list and it can be read in one setting.


21 posted on 05/10/2009 10:12:06 PM PDT by ziravan (FReeper for Congress: www.TimothyDelasandro.com)
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To: PGalt
Obama = King John

Gietner = Sheriff of Nottingham

Next Conservative Leader = Robin Hood

22 posted on 05/10/2009 10:14:05 PM PDT by Chgogal (Don't look at me, Comrade. You elected him, our very own President Mugabe!)
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To: ziravan

Thanks for the link!


23 posted on 05/10/2009 10:33:17 PM PDT by neverdem (Xin loi minh oi)
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To: All

Are you looking for a job?

This thread is updated on a regular basis:

http://www.freerepublic.com/focus/chat/2136635/posts


24 posted on 05/11/2009 1:42:56 AM PDT by Cindy
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To: ziravan; neverdem; raygun

Thanks ziravan. I turned in for the night shortly after posting. I thank FReeper raygun linking on the forum several years ago.

“Everybody that believes in limited government should have this on the essential read list and it can be read in one setting.”

BUMP-TO-THE-TOP!!!


25 posted on 05/11/2009 5:46:57 AM PDT by PGalt
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To: ziravan

...and a BTTT for...

http://www.timothydelasandro.com/

WOOOHOOO!


26 posted on 05/11/2009 5:57:57 AM PDT by PGalt
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