13 November 2008

Markets, Freedom and Failure

The President remains adamant in telling all who still listen to him that the present financial panic is not "a failure of the free market system." I would say he's kidding himself, or is trapped in a self-delusion, but his concept of a "free market" is probably so vague that he may be right at some level. Free enterprise, as such, didn't bring us to the present point. However, the "free market" as it exists in the United States and allied countries is so susceptible to abuse and so incapable of restraint that some form of systemic failure is obvious and was inevitable. To hint that government interference is to blame is only to repeat the scapegoating of poor debtors that went over so well during the late elections. No government compelled the "masters of the universe" to gamble as recklessly as they did, and it was not government but the market itself that urged people to borrow so that they could consume and contribute to global economic growth. Bush may be right to note that countries with stronger government regulation of markets are also suffering, but that only shows the risks of globalization once every country's economy is tied to one big one -- ours -- regardless of each country's laws. Our lame-duck-in-chief is in no position to lecture his people or anyone else on what not to do to clean the mess he helped make but won't help fix. His ideological fixation on "freedom" at the expense of all other virtues already has a hint of obsolescence to it, and the poor man still has two months of public irrelevance to go.


Anonymous said...

Anonymous1 says:

The real problem here is unrestricted loans-particularly to people incapable of repaying them. Then, one derivative after another built on an insecure foundation. That is the problem, whether one wishes to blame it on the Federal Reserve, the market or both. It should be obvious that the racial equality philosophy had a great deal to do with extending loans to lower class blacks and others who should never have been induced to borrow to buy what they could not pay for.

The solution to this mess is to recreate an economy based on saving and investment, not credit expansion and inflation. People need to learn to live within their means. The fractional reserve banking system should be abolished so that banks cannot lend out more than they have reserves on deposit. The gold standard should be reinstituted so that deficit spending and attempted inflation will cause an immediate flight of deposits by citizens who rightly distrust the financial iresponsibility of their banks and leaders. That would cure a great deal of the irresponsible speculation which has led to the present mess. And yes, there should be much closer regulation of the crooks on Wall Street.

Mr. Wilson is right about one thing. Pegging an entire global economy to an unsound financial system in one country is a formula for disaster-as the rest of the world is currently finding out. A great many of the crooks involved in the present mess are, of course, Jewish. I would not go so far as to argue that Jews deliberately set this mess up; I rather doubt it because so many of them have lost so terribly in the disaster. But the disproportionate Jewish share of the blame is there. there.

crhymethinc said...

Fuck off, you racist slimebag. We have had about enough of your ignorance and stupidity. You are NOT welcome here as long as you continue to spew your lies and ignorance, you filth. We all wish you a painful and horrible death, and it can't come soon enough.

Do the world a favor - go turn your oven on, stick your head in it, and breath deep the gathering gloom, you useless old man. People like you are the "group" who should have been shoveled into the furnaces of Dachau. You are nothing. Go screw a back alley crack whore, get AIDS and die already.

An O'Nymous - the real one said...

The problem with people like "Anonymous1" is this:

You take your hatred of jews, blacks, etc, as a foregone conclusion. Then you search online or in books for other people who agree with you and submit their rants as "facts"., meanwhile totally ignoring everything that doesn't substantiate, or disproves, your foregone conclusion. There is nothing scientific about what you, and all the useless idiots like you, do. What you present are not "facts", but mere rubberstamps for your ignorance and hate. You are little more than a powerless, incompetent Adolph Hitler.

Anonymous said...

Anonymous1 says:

I thought we were talking about economics here, not Adolf Hitler. As to the charge that I seek to find evidence for predetermined conclusions, all humans do that. In fact, the charge can much more plausibly be directed at my critics. They start with the assumption that all races are equal in ability-and then rationalize away all the abundant evidence that they are not.

As for 'methnic, why does he not simply take his own advice and drop dead?

Anonymous said...

Anonymous1 says:

Now we can talk about a real racist-Napoleon Bonaparte. The black French historian, Claude Ribbe, has published a book, "The Crimes Of Napoleon: A Blueprint For Hitler", detailing the carnage perpetrated by the French soldiery on the blacks of Haiti/San Domingo during the great slave revolt of the early 19th century. Among other charming practices the French actually did gas about 100,000 slaves in the hulls of their ships using sulfurous rocks from the islands to give off poisonous fumes. They also routinely massacred captured blacks by various gruesome torture methods, all of them endorsed and ratified by the French emperor. Ribbe therefore alleges that Napoleon was the role model for Hitler. This, of course, assumes that the "gas chamber" and "six million" nonsense is actually true, which it isn't. But it does show that in provable ways, the French were far worse than the Germans. Napoleon also had French women who had sexual relations with blacks on the island deported to France for punishment. Napoleon was also an antisemite, even though he had promised the Jews a recreation of their ancient state in Palestine during his failed Middle East expedition of 1799. Bonaparte convened the great Sannhedrin in Paris in 1807, the year of the treaty of Tilsit, and got the Jews to stipulate that they had no dual loyalty and no desire to recreate their ancient state in Palestine as the price of equal political and civil rights. Obviously, those pledges were fraudulent.

Ribbe is also disingenuous in the way he treats the slave revolt because he neglects to mention that the blacks slaughtered every white on the island. Although an avowed opponent of white supremacy, Ribbe fails to explain why Haiti has been the poorest and most unsuccessful island in the Carribean ever since the overthrow of white rule. Surely if whites were the cause of the blacks condition through slavery, then overthrowing slavery would have allowed blacks to rise to the top. Instead, the overthrow of white rule on the island caused the blacks to relapse into the most primitive state-in which they have languished ever since. This is clear proof of black genetic inferiority.

The same phenomenon is observable in black Africa. The blacks had been enslaving and slaughtering each other for ceturies before white, principally Jewish, slave traders arrived to take advantage of the system. Blacks sold the slaves they already held to the whites. No one will ever know how many blacks were slaughtered by their fellows during these unrecorded centuries, because the illiterate blacks with no system of writing were not counting. But the modern day examples of Idi Amin, Julius Nyere, Emperor Bokassa, Robert Mugabe, the Mau-Mau, etc. should give some clue. Anyone offended by the behaviour of the French troops on Haiti, as Mr. Wilson is sure to be, should compare those techniques with the technique of blacks, who pour gasoline down the throats of their victims, burn them with rubber tires around their torsos, disembowel them, chop off arms and legs with machetes and do other things too charming to describe as a matter of routine. If Mr. Wilson doubts it, he should read what happened in the Belgian Congo in 1960.

Now I can listen to 'methnic scream what a dirty, rotten, racist bastard I am and how I should be dismembered by the methods of the blacks he adores. I let it slide off my back like water off a duck. I stick with the cold, hard facts.