Debt Rattle June 22 2015

[Raúl Ilargi Meijer]

Unknown Dutch Gap, Virginia. Picket station of Colored troops 1864 • Five Horsemen Of The Euro’s Future (Politico) • The Three Victories Of The Greek
[See the full post at: Debt Rattle June 22 2015]

[seychelles]

Re Ayn Rand
“The politicians and economists who have dominated the US political establishment since the Reagan administration thought we had to do away with all regulation pertaining to the free market and give free rein to the laissez-faire philosophy. They thought it was the best way to create equal opportunities for all….”
NO. It was a con job from the get-go.

[Raleigh]

seychelles – “It was a con job from the get-go.” I agree with this. I believe they knew it would create anything but “equal opportunities”. They’ll latch onto anybody (author, economist, philosopher) in order to promote their agenda. The corporate think tanks must have had a good laugh when they came up with these policies. “Oh, don’t worry, as long as something ‘sounds good’, we can bamboozle the public into believing it. Our front men, the politicians, will sell it to the public. That’s why we bribe — err — provide them with campaign contributions. Ha Ha!” Politicians are in the corporations’ back pockets, and if laissez-faire would not have helped the corporations, it would not have been implemented.

Of course, had a true “free market” been in place in 2008, every single one of the big Wall Street banks would have gone under, interest rates would have skyrocketed, and the government would have been in big trouble. But I really find it hard to believe that the irresponsible players (they’re not stupid) leading up to the 2008 crisis would have taken the risks they did HAD they not known beforehand that they would be bailed out if they got in trouble. I believe there was and is an “understanding” between politicians/Federal Reserve/economists/Wall Street/multinational corporations/media that they would bail each other out.

It’s a totally engineered and manufactured economy, nothing “free” about it. Had it been “free,” they would have all gone under. My point is that they wouldn’t have jerked around like they did if they thought there was a sliver of a chance they’d fry in the end. They just wouldn’t have risked it.

It’s gun-ho laissez-faire when it’s good for them, when they can crank up quickly and make a killing on whatever they’re into at the present moment (stocks, housing, derivatives, whatever), but it sure as hell isn’t laissez-faire when they get in trouble.

I don’t think we’ve ever had a “free market” (not saying it would be good if we had). I think we’ve always had an engineered and manufactured form of interventionism (always in favor of the elite), but the citizens just didn’t really know it or see it like they’re beginning to now.

I only dream we had a free market in 2008 as I would have loved to have seen them twist.

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