Good bye free market, hello fascism and socialism.
The US Treasury created a new office today via the Bailout Legislation passed last Friday. This new office is the OFS, Office of Financial Stability, otherwise known as the Office of Fascism and Socialism.
The legislation attempts to meddle with the free market, in forcing stipulations on how companies run their businesses, and bailing out companies that are not profitable. Fascism is a political philosophy that exalts nation above the individual, standing for autocratic government with sever economic and social regimentation. Socialism is the governmental ownership and administration of the means of production and distribution of goods. The new office is fascism and socialism rolled into one. Companies are told how to run their business. Companies are given taxpayer money to remain in business, even when their business is failing. It is the epitome of government intervention.
In a free market, no government intervention would be necessary. Companies would have to be smart with their actions and their money, as to remain running and profitable without a bailout. Government bailouts and intervention in the marketplace encourage stupidity with money and actions. In the governments eyes, the failures were caused because of lack of regulation and oversight, hence calling for more more intervention, ie Office of Fascism and Socialism. In reality it is caused by more and more regulation and intervention, and is best solved by laxing the regulation and letting the market solve the problems government has created.
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2 comments:
Talking to my colleagues at work, it is obvious to see the stealth tactics of fascism being spread by "conservative" talk show hosts. When they say they are against "regulation" what they mean is "affirmative action" - ie the subprime mess was caused by the congressional black caucus lobying for free mortgages to minorities. (Remember Nazi Germany?) I'm neither for or against regulation in principle, but it seems the GSE fiasco was largely due to deregulation thanks to corporate lobyists. The minorities were a means to an end of making lucrative usurious loans the consumer didn't understand until it blew up and affected us all. The GSE's were an elephant in the living room that needed to be regulated to the point of nonexistance - something true conservatives like Ron Paul and Richard Shelby understood.
In my humble view, if we are going to have to live with a large government and large corporations, then it needs to be overseen by informed and active voters both regulating the "commons" from being raided (the dollar, social security receipts, etc) and deregulating to allow private transactions. IMHO, Libertarians will be duped into supporting corporate largess again and again if they do not see this dichotomy.
You are correct in stating that the GSE fiasco is partly due to corporate lobbyists, but not necessarily deregulation. What is touted as deregulation is typically more regulation or selective regulation.
The root cause of the fiasco is in the monetary monopoly, lobbyists, either of the corporate variety, or the caucus variety, are given false signals due to the monetary monopoly.
For a mind boggler, see: http://freemmm.blogspot.com/2008/09/regulating-deregulation.html
I am personally not in favor of GSE, the mere name suggests a controlled market rather than a free market. Ideally government would be out of the equation.
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