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lquadland10 (< 20)

Educate me Fools.

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December 08, 2008 – Comments (3)

Now I am so............................. confused and what is going on. I just heard about emanate domain on housing mortgages being enacted and the first ones that were refinanced are going back into bankruptcy? Are they nuts or am I. Barny Frank needs to shut up he helped cause this mess. Barny Frank,IMF, Central Bank and the SEC.  YOUR FIRED. That sounds so much better when Trump says it. Bring back RON PAUL> Splane to me fools. I am so at sea about all of this.

3 Comments – Post Your Own

#1) On December 08, 2008 at 3:30 PM, FAHayek (95.05) wrote:

Well, is it not obvious. The socialists and the liberals are coming out of the woodwork, and are in a full attack of the capitalist free market system. Not that they have not been there the whole time, but rather they are taking advantage of the situation. You see to them, the problem was not those aforementioned central planning agencies that are the problem, the problem for them is that they were not vested with enough power to control the economy enough, ie have more planning controls. And lest we forget the fact that the media and now nearly every one blames the free markets for failing, all they have to do is convince the masses that if we give power to the government, they will prevent things like said recession from occurring.

However it is far from the truth. As you well know, those are the agencies responsible for failing and destroying the free market and the free market failed, because it was artificially pumped by profit seekers and the government, which exemplifies exactly why governmental central planing is a step toward abandoning supply v demand and entering areal that is unstable, just as happened this past decade. 

Sincerely,

F.A. Hayek 

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#2) On December 08, 2008 at 3:32 PM, BigFatBEAR (29.12) wrote:

Long story short - massive debt = bad.

Individuals AND state/federal government have been biting off more debt than they can chew. 

If you think Ron Paul's breed of libertarianism belongs in the gov't, make it known to those in power - write, call, pester the heck out of those guys. ;)

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#3) On December 09, 2008 at 1:18 PM, StKitt (29.85) wrote:

Hayek's reply is somewhat of a head-scratcher.

The government isn't forcing bailouts on these troubled sectors of the economy. The troubled sectors (staunch free marketeers when flush and suddenly hat-in-hand socialists when their pyramids crumble) are ASKING to be bailed out.

The government is simply acting in accordance with "free market" human nature: when someone comes begging to you, you can call most, if not all, of the shots! And Congress plays with a different currency in their free market: VOTES. So the shots they call are going to maximize their ability to get re-elected (at least in their minds).

I agree that all these government bailouts are a bad idea in the long run. But we can't blame the government for CAPITALIZING on the weakness of the so-called free marketeers now bleeting like the sheep they are to be saved from the slaughter. The Congress is just following the nature of a good slum lord.

Bottom line: if troubled companies weren't asking for bailouts, the government would not be giving them! 

 

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