It's not regulation, it's facist monoplization with federally backed securities ...
Never mentioned "republicans" as actually there are some democrates who are to blame for this catering to the wealthy's interests as well.
I stand corrected.
When I say political spectrum I am refereing to the school of thought on the Libertarian right side that thinks govt should be de-regulated and that corporations can be trusted to do the right thing with little monitoring.
Not only is this utterly false from the viewpoint of myself, a Libertarian-Capitalist who believes in regulation, but the problem here was not regulation.
In fact, most Libertarian-Capitalists have been sickened by the fact that the US federal government has taken on private sector liability.
That has been the "root cause" and it is
hardly a Libertarian ideal, it's a Republican one.
The US federal government has increasingly exposed the tax payer to more and more liability.
And with that liability, more and more corporations have taken advantage of it.
The US federal government should have stopped this non-sense long ago, instead, it embraced it.
What we have build is the worst-case scenario of the Republican facist economic model.
How many Enrons,Indy macs etc. do we need to see that given the oppurtunity the only things the vast majority of them will do is take the money and run?
If the US federal government keeps backing them, I'm sure there will be plenty of it.
Make no mistake, when you do
not back securities with the tax payers dollars and corporations don't assume there will be a bail out, they are much, much better.
This was not caused by lack of regulation, this was caused by federal backed securities
instead of regulation.
As I have said before there is not nearly enough difference in the the 2 parties but there is still some.But honestly economic ones is where the differences may be the least meaningfull as for a long time the haves have gotten what they want whichever party was in power.Even Obama is only proposing a very miniscule change in tax policy.
The problem is that the ...
- Democrats preach government should collect the money for its own agencies and institutions
- Republicans preach government should collect the money for the private sector (falsely called "privitization")
We have propped up a financial system here in the US, with the Federal Reserve Corporation backed by the tax payer, that allows way too much of an "unnatural" money multiplier.
Well guess what? That money multiplier just ballooned to the point where it burst.
Libertarian-Capitalists have been warning the Republicans (and some Democrats, like Clinton) about this for over a decade now, and finally we've seen it.
The money moved from stocks to liquid, then to real estate followed by liquid, now commodities.
The end game here is that there's really a lot of "false liquidity" in general, and that has been caused by US federal backing, indirect and, increasingly (and quite scary), direct.
The only way out of this, like the '80s, may be mass inflation of the US currency with interest rates approaching 20%.
As much as people praise him, Greenspan is one to blame for some of this, and it wasn't surprising why he got out.
Bernake is a bit of an enigma, and I know he's holding back because he knows the truth (and knew the truth prior to and) better than Greenspan.
You blame the Libertarian-Capitalists and lack of regulation?
Libertarians
prefer regulation than the
facist economy model of Federally mandated monopolities and indirect/direct Federally backed security.
Even worse is that every Libertarian-Capitalist is now saying,
let the fucking corporations fail, don't back them with tax payer debt.
Bear-Sterns should have been the "wake up call."
Let the fuckers fail, and implement some new ethics legislation to prevent a few screwing over many.
I've seen a crapload of my fellow Libertarian-Capitalists advocating this along with myself.
It's the Republicans, along with some Democrats, that are pushing this, not Libertarian-Capitalists.
.:thefinger
