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Congress Doesn’t Create Free Markets—It Only Destroys Them

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new-logo25 Jane M. Orient, M.D.,

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If some people like their government healthcare, let them keep it. But let the people go if they prefer freedom.”

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When people clamor for Congress to pass a “free-market health plan,” they1619098_10202643451221752_1414455253_n are forgetting two things: Congress only does laws, which restrict freedom. We need fewer laws, not more. And the free market is by nature not a plan.

Big laws like ObamaCare are designed by special-interest groups, such as the “insurance” (managed care) cartel, Big Hospitals, Big Pharma, and influential groups that want their benefits (abortion, contraception, drug and alcohol rehab, AIDS therapy, etc.) paid for by people who would never use them. More

Message to the voting cattle………Anarchy

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new-logo25 Reader submission:

This is from Grant’s speech within the novel “The Iron Web” by Larken Rose

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Anarchy –Grant’s Speech recited by John Rand

Published on Aug 16, 2012

There is some ambiguity with the use of the terms “libertarianism” and “libertarian” in writings about anarchism. Since the 1890s from France, the term “libertarianism” has often been used as a synonym for anarchism and was used almost exclusively in this sense until the 1950s in the United States; its use as a synonym is still common outside the United States.  Accordingly, “libertarian socialism” is sometimes used as a synonym for socialist anarchism, to distinguish it from “individualist libertarianism” (individualist anarchism). On the other hand, some use “libertarianism” to refer to individualistic free-market philosophy only, referring to free-market anarchism as “libertarian anarchism”.

Anarchy (from the ancient Greek αναρχια, from αν, “not” +‎ αρχος  “ruler”, “absence of a leader”, without rulers), has more than one definition. In the United States, the term “anarchy” typically is used to refer to a society without a publicly enforced government or violently enforced political authority. When used in this sense, anarchy may or may not be intended to imply political disorder or lawlessness within a society. However, this usage is not the traditional sense of the word.
Outside of the US, and by most individuals that self-identify as anarchists, it implies a system of governance, mostly theoretical at a nation state level although there are a few successful historical examples, that goes to lengths to avoid the use of coercion, violence, force and authority, while still producing a productive and desirable society. More

“Divided, We Are Hopelessly Sinking In Quicksand!”

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from – The Parallax Prophecies –
By Ron Ewart, President
National Association of Rural Landowners
and nationally recognized author on freedom and property rights issues.
We are helping to spread freedom and liberty around the globe.
© Copyright Sunday, January 22, 2012 – All Rights Reserved
People are a great deal like electrons.  When they get too close to each other, they are repelled by each other’s negative charge and can never come together, except in times of immense heat and pressure …. like in a Black Hole, or a world war ….. or the rise of tyranny.”    Ron Ewart

When the attack comes, whether foreign or domestic, people that are divided will run in all directions in a panic, just like the people did on the cruise ship that ran aground off the West Coast of Italy a week ago and sent the passengers scurrying in all directions, looking for anyway they could to exit the sinking cruise liner and save their lives.  There was no guidance and no plan, there was just pandemonium, an irrational human response that can lead to death. 

Americans today, are not much different than the passengers on that stricken ship.  We are running in all directions with no guidance and no plan.  America is more divided now than it ever was and it will be our un-doing if we allow it to continue.  Without a course correction resulting from conservative unification,America will sink deeper into the quicksand of apathy, indifference and wholly desperate ideologies, with no chance of escape. More

In A Currency Tug-Of-War, The U.S. Dollar Loses…

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Alt-Markets.com

Brandon Smith

 

I imagine sometimes in my most optimistic moments that one day I will live in the midst of a true free market economy, where the tides of trade and investment, the ebb and flow of commerce, are a rather beautiful thing. A marketplace without centralized manipulation, were legitimate supply and demand are elevated instead of obscured, and toxic financial instruments, crooked corporate institutions, and even faulty currencies, are allowed to finally meet their long deserved demise because they no longer serve the needs of our nation and our culture. I imagine an economy that is not only continuously shedding off old skins and renewing itself as our society grows, but one whose primary purpose is to nurture and expedite that growth. I imagine an economy that works FOR the people, not against them. Like I said, “optimistic”.

In today’s economy, we have something quite different. We are imprisoned in a labyrinthian deathtrap of a mainstream system, one that feeds endless fiat formaldehyde into the crusted veins of a long since corpsified infrastructure; a financial golem, a wraith, a thing that creeps across the dark horizon of our country’s future waiting to unleash a special kind of hell. A thing that should not exist.

We live in an unnatural and monstrous economy. A Frankenstein creation…

This creation owes its wretched life to the efforts of a relatively small number of international bankers, corporate financiers, and of course, the private Federal Reserve; the mad scientists of our age, consumed with a lust for power over everything. One day, in the distant future, we will finally understand and appreciate their “brilliance”, or so they tell themselves. The “plan” is simply too complex and wondrous for we nearsighted and frightened villagers to comprehend.

In fact, the plan is very easy to comprehend, and not driven by brilliance, but hubris (one does not necessarily lead to the other). The key to grasping the mangled workings of our economy lay in the lifeblood of our commerce; the dollar itself. If you know the dollar, you’ll know just about everything else. Ignore the dollar, or assume comprehension without ample study, and you will find yourself completely lost in the fog and chaos of the markets.

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Alternative markets….A concept for survival

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Brandon Smith will be our guest on Thursday May 25th, on blogtalk.  The alternative markets vision is his creation and is booming!  This is an introductory article explaining the alternative markets concept.  For more information and current news on Alternative Markets, please go here:

http://www.alt-market.com/

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If you want something done right, you might well have to do it yourself. We’ve heard the old adage before, but rarely do we ever seem to apply it to our economic environment. Instead, we have seen fit to allow “smarter” men to take the reigns, and take control, of our financial well being, all on misplaced faith in the supposed good intentions of government and corporate bodies. This cultural attitude of non-involvement in the economic decision making process has cost millions of Americans their jobs and now threatens the stability of our currency, our nation, not to mention our very future. Many of us have become entirely dependent on only a handful of men for our own livelihoods. It is time to take greater stock in ourselves, our ingenuity, and our ability to create and adapt. It is time to take responsibility for our own commerce, and breathe life back into local communities once again. It is time for an alternative…

The greatest threat to the U.S. economy today is forced globalization and the fiat central banking system. Many organizations are working to expose, audit, and even shut down the private Federal Reserve, which is responsible in large part for facilitating the mortgage and derivatives crisis as well as the continued devaluation of our dollar. This is a vital effort that requires the utmost support from all facets of the Liberty Movement. However, there is another matter that needs to be addressed in tandem with any endeavor to remove our destructive central banking system…

Much of the damage that can be inflicted on our economy has already been dealt. As neithercorp and many other websites devoted to honest financial analysis have shown time and again, our fiscal structure is teetering on the brink of oblivion, our so called “recovery” is a façade fed by skewed statistics and rivers of fiat money dumped into banks and stocks, and our purchasing power is being crushed by a deliberate campaign to slow-kill the greenback. Only now are greater signs of this disaster being revealed to the masses as real unemployment remains essentially static and prices of base goods skyrocket. Even with a successful initiative launched against the Federal Reserve, we would still be left with a faulty, crumbling, debt based architecture We can pull the iceberg from our shattered ship, but the ship is still going to sink. More

Leveraging the auto industry bailout……or, How to use corruption to break the unions

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The auto industry just like the financial industry is rife with corruption, greed and high paid executives who long ago forfeited any allegiance to their own country.  The auto industry, just like the financial industry, is bloated with global elitists who despise our country.  Money, power, absolute greed and control have replaced allegiance, loyalty or any sense of obligation. 

The demand from auto industry executives (and it was a demand) that they be bailed out was an outright attempt at black mail.  Having failed to keep up with competing foreign producers and having continued to produce gas guzzling monster trucks and cars rather than lead in any innovation, the execs made plain that if they are not handed a big wad of cash…immediately….we’re all going down the tubes.  All…meaning you and me…but not them.

I had assumed this corporate entity that masquerades as our government at all levels would have simply acquiesced and doled out billions more in debt money leaving taxpayers once again holding the bag.  For some strange reason this time they want a [plan].  This time, they weren’t so sure that a bailout was the answer and they cited the lack of critical information from the auto makers as to why they needed the money and what they would do to correct this failing industry.  I was totally shocked!  Then reality set in……..

Why would congress,… after handing out what will amount to trillions upon trillions of debt dollars, tax dollars, to corrupt financial institutions while failing to demand any oversight, any regulation on how this money was to be portioned,… suddenly be wanting a plan from another group of very rich executives who have caused another industry to fail? 

The answer came today as the flood of emails into my box piled up.  It isn’t the executives who failed to keep up with environmental concerns and innovations in technologies; it wasn’t that these companies had failed to keep themselves competitive by continuing to produce inefficient auto’s;  it wasn’t the millions and millions of dollars they took in pay and bonuses all the while knowing their respective companies were failing.  It wasn’t even their arrival on horrendously expensive private corporate jets (can’t have this kind of royalty flying with the common folks!)…….It is the UNION.  That’s what did it!

We have had eight years of hard core union busting and now the Democrats, once champions of unions, have jumped on the free market, free ride for the big guys, band wagon.  This is it in a nutshell.  The auto workers union is one of the largest, if not the largest in the country and they are going to bust this union or leave these workers high and dry and living in a box on a street in Detroit.

I knew this sudden sense of critical thinking, of rational planning had to have some other purpose.  Once this union is taken down the money will flow from congress like water over Niagra Falls.  Competitiveness will translate into low wages and no benefits.  Another sector of well paid workers will fall into the “barely above the poverty line” class, and the auto industry will continue to produce the same things it does now; only they will have our money and the prices of their outdated auto’s will remain too high. 

Unions formed in response to businesses forming trade associations that actively worked to keep wages low and hours long while profiting from what amounted to human slavery.  It was unions that forced companies to pay better wages, to limit working hours to less than 12 or 15 hours a day, every day of the week.  It was unions that made workplace safety a priority.  And it was the unions that caused the rise in wages across the country bringing many out of poverty. 

I realize that unions have also suffered from their fair share of corruption.  But here again, it has been the leaders of the unions, just as it is the leaders of predatory lending institutions who committed the crimes.  Union leaders who are corrupt are no different than corrupt CEO’s, yet we will disparage the one group and watch the other pamper themselves at a spa.

This latest bailout demand is less a financial need than it is an overt attempt to bust the union.  It was just too much to hope for that congress would do the right thing simply because it was the right thing.  And this time, its only a few hundred thousand American workers that will be directly affected by these companies folding.  And these aren’t those all important Wall Street workers either.  These people are blue collar workers and surely not worthy of any special treatment…..at least not the kind the Wall Street crooks and thieves got.

The whole intent of the “free-market, no regulation, no oversight, job off-shoring, tax dodging, don’t tax us we’re a corporation” crowd, is to dismantle the job market, break the economy and kill off the jobs.  That way when they come back around offering to pay you one dollar for the job that previously paid you ten dollars…you’ll take it.  By then you’ll be hungry enough, cold enough and desperate enough to think its a good deal. 

(C) 2008 Marti Oakley

Know your candidates!

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Does the majority of America really believe Socialism is the better cultural system than the Capitalist, free market system we have known since establishment of the US Constitution? That is the prime question voters must ask themselves in this Presidential election.

Soviet premier Nikita Khrushchev in a speech at the Polish embassy in 1956 said “We will bury you.” He explained that meant not by a shovel but from within. The implication was that step by step, Communism would be introduced to Western nations until it eventually overwhelmed existing governance.

As in virtually all cultures, methods change but the end result is always in focus. In America, Mr. Khrushchev’s statement seems alive and well. The strong will of national governance given to us by our Founders has for over fifty years been whittled away at by laws, agreements, judicial rulings, Executive orders, signing statements and the

manipulation of policies favoring Socialistic over Capitalistic principles.

 

Since its founding in 1945, the United Nations has become more influential and powerful. The United States has signed on to several UN socialist policies that have become interwoven into elements of America’s governance. Examples are Smart Growth, environmental policies, endangered species, public/private partnership, federal control of education, gun control, land use control and other restrictions on freedom.

 

The contemporary end result seems to be actions that move the U.S. away from national governance toward world governance. Voters must understand the mindset of candidates and send to Washington DC only those who screen laws they support to their compliance with the U.S. constitution. 

 

Please know your candidates
and vote wisely,

 James Rugg

 jsrugg@hughes.net

Economists Against The Paulson Plan

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Economists Against The Paulson Plan

 

To the Speaker of the House of Representatives and the President pro tempore of the Senate:

 

26/09/09 As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current financial situation and we agree with the need for bold action to ensure that the financial system continues to function. We see three fatal pitfalls in the currently proposed plan:

 

1) Its fairness. The plan is a subsidy to investors at taxpayers’ expense.

Investors who took risks to earn profits must also bear the losses.  Not every business failure carries systemic risk. The government can ensure a well-functioning financial industry, able to make new loans to creditworthy borrowers, without bailing out particular investors and institutions whose choices proved unwise.

 

2) Its ambiguity. Neither the mission of the new agency nor its oversight are clear. If  taxpayers are to buy illiquid and opaque assets from troubled sellers, the terms, occasions, and methods of such purchases must be crystal clear ahead of time and carefully monitored afterwards.

 

3) Its long-term effects.  If the plan is enacted, its effects will be with us for a generation. For all their recent troubles, America’s dynamic and innovative private capital markets have brought the nation unparalleled prosperity.  Fundamentally weakening those markets in order to calm short-run disruptions is desperately short-sighted.

 

For these reasons we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come.

 

 

 

Signed (updated at 9/25/2008 8:30AM CT)

 

Acemoglu Daron (Massachussets Institute of Technology) Adler Michael (Columbia University) Admati Anat R. (Stanford University) Alexis Marcus (Northwestern University) Alvarez Fernando (University of Chicago) Andersen Torben (Northwestern University) Baliga Sandeep (Northwestern University) Banerjee Abhijit V. (Massachussets Institute of Technology) Barankay Iwan (University of Pennsylvania) Barry Brian (University of Chicago) Bartkus James R. (Xavier University of Louisiana) Becker Charles M. (Duke University) Becker Robert A. (Indiana University) Beim David (Columbia University) Berk Jonathan (Stanford University) Bisin Alberto (New York University) Bittlingmayer George (University of Kansas) Boldrin Michele (Washington University) Brooks Taggert J. (University of Wisconsin) Brynjolfsson Erik (Massachusetts Institute of Technology) Buera Francisco J. (UCLA) Camp Mary Elizabeth (Indiana University) Carmel Jonathan (University of Michigan) Carroll Christopher (Johns Hopkins University) Cassar Gavin (University of Pennsylvania) Chaney Thomas (University of Chicago) Chari Varadarajan V. (University of Minnesota) Chauvin Keith W. (University of Kansas) Chintagunta Pradeep K. (University of Chicago) Christiano Lawrence J. (Northwestern University) Cochrane John (University of Chicago) Coleman John (Duke University) Constantinides George M. (University of Chicago) Crain Robert (UC Berkeley) Culp Christopher (University of Chicago) Da Zhi (University of Notre Dame) Davis Morris (University of Wisconsin) De Marzo Peter (Stanford University) Dubé Jean-Pierre H. (University of Chicago) Edlin Aaron (UC Berkeley) Eichenbaum Martin (Northwestern University) Ely Jeffrey (Northwestern University) Eraslan Hülya K. K.(Johns Hopkins University) Faulhaber Gerald (University of Pennsylvania) Feldmann Sven (University of Melbourne) Fernandez-Villaverde Jesus (University of Pennsylvania) Fohlin Caroline (Johns Hopkins University) Fox Jeremy T. (University of Chicago) Frank Murray Z.(University of Minnesota) Frenzen Jonathan (University of Chicago) Fuchs William (University of Chicago) Fudenberg Drew (Harvard University) Gabaix Xavier (New York University) Gao Paul (Notre Dame University) Garicano Luis (University of Chicago) Gerakos Joseph J. (University of Chicago) Gibbs Michael (University of Chicago) Glomm Gerhard (Indiana University) Goettler Ron (University of Chicago) Goldin Claudia (Harvard University) Gordon Robert J. (Northwestern University) Greenstone Michael (Massachusetts Institute of Technology) Guadalupe Maria (Columbia University) Guerrieri Veronica (University of Chicago) Hagerty Kathleen (Northwestern University) Hamada Robert S. (University of Chicago) Hansen Lars (University of Chicago) Harris Milton (University of Chicago) Hart Oliver (Harvard University) Hazlett Thomas W. (George Mason University) Heaton John (University of Chicago) Heckman James (University of Chicago – Nobel Laureate) Henderson David R. (Hoover Institution) Henisz, Witold (University of Pennsylvania) Hertzberg Andrew (Columbia University) Hite Gailen (Columbia University) Hitsch Günter J. (University of Chicago) Hodrick Robert J. (Columbia University) Hopenhayn Hugo (UCLA) Hurst Erik (University of Chicago) Imrohoroglu Ayse (University of Southern California) Isakson Hans (University of Northern Iowa) Israel Ronen (London Business School) Jaffee Dwight M. (UC Berkeley) Jagannathan Ravi (Northwestern University) Jenter Dirk (Stanford University) Jones Charles M. (Columbia Business School) Kaboski Joseph P. (Ohio State University) Kahn Matthew (UCLA) Kaplan Ethan (Stockholm University) Karolyi, Andrew (Ohio State University) Kashyap Anil (University of Chicago) Keim Donald B (University of Pennsylvania) Ketkar Suhas L (Vanderbilt University) Kiesling Lynne (Northwestern University) Klenow Pete (Stanford University) Koch Paul (University of Kansas) Kocherlakota Narayana (University of Minnesota) Koijen Ralph S.J. (University of Chicago) Kondo Jiro (Northwestern University) Korteweg Arthur (Stanford University) Kortum Samuel (University of Chicago) Krueger Dirk (University of Pennsylvania) Ledesma Patricia (Northwestern University) Lee Lung-fei (Ohio State University) Leeper Eric M. (Indiana University) Leuz Christian (University of Chicago) Levine David I.(UC Berkeley) Levine David K.(Washington University) Levy David M. (George Mason University) Linnainmaa Juhani (University of Chicago) Lott John R.  Jr. (University of Maryland) Lucas Robert (University of Chicago – Nobel Laureate) Luttmer Erzo G.J. (University of Minnesota) Manski Charles F. (Northwestern University) Martin Ian (Stanford University) Mayer Christopher (Columbia University) Mazzeo Michael (Northwestern University) McDonald Robert (Northwestern University) Meadow Scott F. (University of Chicago) Mehra Rajnish (UC Santa Barbara) Mian Atif (University of Chicago) Middlebrook Art (University of Chicago) Miguel Edward (UC Berkeley) Miravete Eugenio J. (University of Texas at Austin) Miron Jeffrey (Harvard University) Moretti Enrico (UC Berkeley) Moriguchi Chiaki (Northwestern University) Moro Andrea (Vanderbilt University) Morse Adair (University of Chicago) Mortensen Dale T. (Northwestern University) Mortimer Julie Holland (Harvard University) Muralidharan Karthik (UC San Diego) Nanda Dhananjay  (University of Miami) Nevo Aviv (Northwestern University) Ohanian Lee (UCLA) Pagliari Joseph (University of Chicago) Papanikolaou Dimitris (Northwestern University) Parker Jonathan (Northwestern University) Paul Evans (Ohio State University) Pejovich Svetozar (Steve) (Texas A&M University) Peltzman Sam (University of Chicago) Perri Fabrizio (University of Minnesota) Phelan Christopher (University of Minnesota) Piazzesi Monika (Stanford University) Piskorski Tomasz (Columbia University) Rampini Adriano (Duke University) Reagan Patricia (Ohio State University) Reich Michael (UC Berkeley) Reuben Ernesto (Northwestern University) Roberts Michael (University of Pennsylvania) Robinson David (Duke University) Rogers Michele (Northwestern University) Rotella Elyce (Indiana University) Ruud Paul (Vassar College) Safford Sean (University of Chicago) Sandbu Martin E. (University of Pennsylvania) Sapienza Paola (Northwestern University) Savor Pavel (University of Pennsylvania) Scharfstein David (Harvard University) Seim Katja (University of Pennsylvania) Seru Amit (University of Chicago) Shang-Jin Wei (Columbia University) Shimer Robert (University of Chicago) Shore Stephen H. (Johns Hopkins University) Siegel Ron (Northwestern University) Smith David C. (University of Virginia) Smith Vernon L.(Chapman University- Nobel Laureate) Sorensen Morten (Columbia University) Spiegel Matthew (Yale University) Stevenson Betsey (University of Pennsylvania) Stokey Nancy (University of Chicago) Strahan Philip (Boston College) Strebulaev Ilya (Stanford University) Sufi Amir (University of Chicago) Tabarrok Alex (George Mason University) Taylor Alan M. (UC Davis) Thompson Tim (Northwestern University) Tschoegl Adrian E. (University of Pennsylvania) Uhlig Harald (University of Chicago) Ulrich, Maxim (Columbia University) Van Buskirk Andrew (University of Chicago) Veronesi Pietro (University of Chicago) Vissing-Jorgensen Annette (Northwestern University) Wacziarg Romain (UCLA) Weill Pierre-Olivier (UCLA) Williamson Samuel H. (Miami University) Witte Mark (Northwestern University) Wolfers Justin (University of Pennsylvania) Woutersen Tiemen (Johns Hopkins University) Zingales Luigi (University of Chicago) Zitzewitz Eric (Dartmouth College)

 

 

 

 

 

Corporate Welfare….why no objections from the free market capitalists?

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Of all the no-account reasons why we, the American public, are supposed to finance the bailout of privately owned, mismanaged, unethical, corrupted corporations and businesses, the list given on CNN this morning has to be one of the most ludicrous.

 

Supposedly, if we don’t bail them out the entire economy will suffer and the trickle down theory of greed and corruption , otherwise known as free market capitalism, will affect us all…..in some terrible and unimaginable way.  But since no one was able to come up with anything relevant a list of non-relevant items was displayed.

 

Supposedly, now small businesses couldn’t get loans. Small business to you and me is the mom & pop operation we know locally, operating on a budget.  Small business to them is a few million here and there with no accountability.

 

Property taxes were said to be possibly affected.  Now wait a minute.  Why would our property taxes go up because some crooked bank or insurance company got caught cooking the books?

 

Our schools could be affected.   And why would this be?  What do our schools, already struggling under the unfunded mandates of the miserable No Child Left Behind program, have to do with crooked corporations?

 

 

I wish I could remember the rest of the list, but quite frankly, I got so mad looking at it my head nearly exploded.

 

Small businesses will not be able to get loans because there is no money to loan and there will be even less than no money if this bailout goes through. 

 

Saying that our property taxes and schools will suffer is almost true.  But not as a result of letting these businesses fail.  They will be affected as a result of the massive tax burden that will be assumed by taxpayers if this bailout goes through.  Every program funded by the federal government will be short changed, again leaving taxpayers to pick up the check for federal mandates on a local level. 

 

The way this works out is this: 

 

We will fund the bailout with tax revenues if we know what’s good for us, or those on top will make life miserable for those of us not on top.

 

We will oppose the bailout and take our chances.

 

I say we go for option two.  What’s the worst that could happen?

 

Some self aggrandizing CEO might have to cough up some of the millions he stole?

 

These businesses would fall by the wayside and maybe a new reorganized system would be put into place?

 

I say we take our chances.  No matter how this fiasco turns out, it is the taxpayers, the middle and lower classes that are going to foot the bill and endure the hardships…..not the big guys at the top who caused all of this.  

 

Let’s get through this on our own terms, not terms envisioned for us by people and politicians who could care less.

 

By the way……where are all those neo-cons who love to rage about pulling yourself up by your own bootstraps?  Why aren’t any of them screaming about this government handout, this epitome of corporate welfare? 

 

We’re getting pulled up by our bootstraps alright, but no one thought to bring the Vaseline.

 

© 2008 Marti Oakley

 

Nationalizing the losses…Privatizing the profits

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Here we sit like the proverbial ducks waiting to be picked off by a government so totally involved in the current fraud and financial meltdown that its first order of business is to try and figure out a way to shift the blame.  How is it that Bernanke didn’t know, Paulson didn’t know, the SEC didn’t know, the House and Senate finance committees didn’t know…in fact no one that should have known seemed to be sounding the alarm that things were going very wrong in this so-called free market?  How could none of these people have known this would happen?  Everyone out here in taxpayer land who was paying any attention at all knew that this day would come.

 

After more than twenty years of hearing how supply side economics, trickle down economics, free markets and unregulated free trade were going to produce a booming economy, we see that the only thing that exploded was the financial markets.  Wall Street, gigantic mortgage and insurance companies all imploding under the weight of corruption, executive abuse, and less than ethical business practices has finally succumbed to its own misbegotten theories on economics. 

 

While free trade and no oversight and even less regulation may have looked good on paper, not one of those economic theorists gave a moments thought to the greed, the elitism and the inevitable downward spiral brought on by individuals easily consumed by corruption which is exactly what no oversight and deregulation brings on.  The fact of the matter is, that without effective oversight and regulations these individuals who operated these companies did the inevitable.   In this case there will be no punishment of any consequence.

 

And here is how supply side, free market economics trickle down for us on the receiving end of these policies.

 

  • Not one CEO who cooked the books, or who failed to file necessary corporate statements in the last five years will be forced to forfeit the millions in unearned executive bonuses, perks and pay. (Some surpassing the 90million mark)

 

  • Not one company or corporation will be held liable or accountable for its corruption and mismanagement.

 

  • US taxpayers will be assuming the burden of bad debt…. NO ONE buys bad debt except a fool.

 

  • Our taxes will explode regardless of who takes the presidency as a result of what has happened in the last few weeks.

 

  • The wealthiest 3% will still enjoy their special no-tax to speak of plan, while the rest of us labor under a tax burden so huge we can never pay it off. 

 

I find it odd that the greatest promoters of this great American giveaway known as free market capitalism have been quite silent this last week.  Those champions of anything to make a buck no matter who gets hurt in the process seem to have gone mute.

 

I found myself wondering where were, they?  Why weren’t they out there shooting off their mouths about letting the market work? Why weren’t they advocating loud and clear these financial institutions should be allowed to fail?  Isn’t that what happens in free market capitalism without oversight and regulation?  Apparently not.  Obviously the only time these free market capitalists want no interference is when they are making a huge profit.  When they are losing their collective asses they run to their buddies in our government and shift their losses to us. 

 

Why are we being forced to nationalize the losses incurred by privately owned

corporations that privatized their created profits?

 

I don’t buy the argument that it would destabilize markets around the world.  All that means to me is that the selling off of America is far greater than we are lead to believe and our debt being carried by countries such as China is so huge that not bailing out these companies would expose the extent of that debt.

 

Its time for all those who still cling to this unregulated free market theory admit that it has done nothing but destroy our economy, devastated the middle class, and brought us to the brink of financial ruin. 

 

Personally, I believe the assets of all the party’s involved should be seized and the proceeds used to shore up these companies if that actually needs to be done.  Then all the house and senate members who are putting this bailout plan together should forfeit their salaries and any other assets of value for the same purpose.  I also believe that the massive fortunes of the Bush family, and the Cheney’s should be seized and used to offset this monstrous debt; after all they were two of the greatest promoters of free market capitalism and both profited immeasurably from it while American families lost their jobs and their homes.

 

There are lots of places these people could go to get the financing needed to bail out these companies.  The only reason we are being saddled with it, is because we are the easiest marks.

 

© 2008 Marti Oakley

 

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