Showing posts with label Free Market Fundamentalism. Show all posts
Showing posts with label Free Market Fundamentalism. Show all posts

Saturday, December 20, 2014

The "Power" of the Private Sector

The complete capitulation by theater owners and Sony to North Korea has left me somewhat puzzled. I thought that the private sector shit gold and any sort of government involvement inhibits from being all of the glory that they are entitled to be.

Yet here we have the president and the federal government once again riding to the rescue of sniveling buffoons just as we saw in 2008 when they collapsed the world economy. The first step will likely be some sort of counter cyber attack (which sounds really cool, btw) followed by some extra military exercises in the area. Yet I have to say that I'm very weary of North Korea and would like to see the president take a stronger stance with that stain of a country. They are a relic of a bygone time and, like Cuba, need to be brought into the 21st century and it's likely that it's going to have to be the hard way.

Obviously, this is a job for the federal government because it's quite clear that the private sector isn't up to it. I wonder what Ayn Rand's reaction would be...

Sunday, June 29, 2014

NPR Plays The Cult of Both Sides

Last Friday, the president spoke in my hometown and NPR in Minnesota aired a post speech analysis. At about the 12 minute mark, Keith Downy, chair of the Minnesota Republican party joins the conversation and, thus, any criticism of NPR being liberal goes directly out of the fucking window. For the next few minutes, Downy spins the usual yarn about how the free market can just sort itself out. If we had only left the government out of it in 2008, all would be well with our economy today.

What fucking planet are these people living on?

Worse, he's being terribly dishonest because he would have done the exact same thing the president did. I'd like Mr. Downy or any other free market fundamentalist to point to real world evidence of their theory. Show me a recession that was that bad and then show me how doing nothing worked out.

Of course the real treat of the segment was Andy from Sioux Falls, a small business owner fed up with federal taxes, who comes in at around 14 minutes into the segment. After hearing his remarks, I have to question whether or not this man was an actual small business owner or whether he was a Tea Party troll calling in to wax Ayn Rand. No business owner (large, medium, or small) turns down making more money because they are worried about paying federal taxes. What a ludicrous bunch of nonsense! After Downy's ad hom on the woman the president met with to discuss local economic concerns, I was left to wonder how NPR let themselves get into such a position.

When will the "liberal" media stop playing the cult of both sides? Sometimes there is only one side to a story. Supply side economics doesn't work. Even the guys that came up with it (David Stockman, Bruce Bartlett) have admitted they were wrong. You can't simply ignore aggregate demand and pretend it doesn't exist. The problem with our economy today is that there are not enough people buying things so businesses don't hire people. There isn't enough population at the top to support our economy.

The middle class is the engine that drives our economy and when they have more money, our economy will improve.

Friday, February 21, 2014

Saturday, November 09, 2013


Amia Srinivasan has many questions for free market moralists that deserve answers. Indeed, her entire piece deserves careful study as at eloquently illustrates the dichotomy of welfare liberalism and laisse-faire liberalism. Here are the four questions.

1. Is any exchange between two people in the absence of direct physical compulsion by one party against the other (or the threat thereof) necessarily free?

2. Is any free (not physically compelled) exchange morally permissible?

3. Do people deserve all they are able, and only what they are able, to get through free exchange?

4. Are people under no obligation to do anything they don’t freely want to do or freely commit themselves to doing?

Her answer show free market fundamentalism for the sham that it is. Like those on the left who preach of socialist utopias, libertarian utopias have just as

Tuesday, July 23, 2013

Let The Free Market Sort It Out

This is what happens when you let the free market sort itself out.

This industrial dance has been choreographed by Goldman to exploit pricing regulations set up by an overseas commodities exchange, an investigation by The New York Times has found. The back-and-forth lengthens the storage time. And that adds many millions a year to the coffers of Goldman, which owns the warehouses and charges rent to store the metal. It also increases prices paid by manufacturers and consumers across the country.

But wait, though, pricing regulations set up by an overseas commodities exchange?

The inflated aluminum pricing is just one way that Wall Street is flexing its financial muscle and capitalizing on loosened federal regulations to sway a variety of commodities markets, according to financial records, regulatory documents and interviews with people involved in the activities.

Ah, that explains it.

Now this is happening which never would have if Mitt Romney had won the election.

Friday, June 07, 2013

The Question They Can't Answer

Simple question, via are there no libertarian countries?

My answer has always been this: the same reason why socialist fantasies never work in reality is the same reason why libertarian fantasies never work in reality...people. They really suck. If the state planned everything, they'd have too much power and corrupt people would be naturally drawn to it. If the state planned nothing and let the free market just sort everything out, the corrupt people would get away with everything they wanted.

Michael Lind, the writer of the piece, makes a few interesting points on this subject.

When you ask libertarians if they can point to a libertarian country, you are likely to get a baffled look, followed, in a few moments, by something like this reply: While there is no purely libertarian country, there are countries which have pursued policies of which libertarians would approve: Chile, with its experiment in privatized Social Security, for example, and Sweden, a big-government nation which, however, gives a role to vouchers in schooling. But this isn’t an adequate response. 

Libertarian theorists have the luxury of mixing and matching policies to create an imaginary utopia. A real country must function simultaneously in different realms—defense and the economy, law enforcement and some kind of system of support for the poor. Being able to point to one truly libertarian country would provide at least some evidence that libertarianism can work in the real world.

Yet they can't do it. It's been my experience that these same people are often "based in science and logic" and require "hard evidence" before they can justify something. Thus, it's quite odd that they continually perpetuate this myth that a libertarian society would be the best. Where is the proof?

While the liberal welfare-state left, with its Scandinavian role models, remains a vital force in world politics, the pro-communist left has been discredited by the failure of the Marxist-Leninist countries it held up as imperfect but genuine models. Libertarians have often proclaimed that the economic failure of Marxism-Leninism discredits not only all forms of socialism but also moderate social-democratic liberalism.

But think about this for a moment. If socialism is discredited by the failure of communist regimes in the real world, why isn’t libertarianism discredited by the absence of any libertarian regimes in the real world? Communism was tried and failed. Libertarianism has never even been tried on the scale of a modern nation-state, even a small one, anywhere in the world.

Exactly right and there's a reason for that perfectly summed up in one word: anarchy.

Wednesday, November 30, 2011

Wait, Huh?

Most right wingers I know these days are frothing at the mouth about Europe. It makes sense if you stop and think about it for a moment as it flies on the face of the basic foundation of their "enlightened self interest" ideology. Countries banding together and creating a single currency? Sheesh...might as well start stocking up on the canned goods. If only the markets were allowed to work on their own and government would stay well out of the way, they foam.

Yet, a closer examination of the current woes in Europe reveal a far more complex situation. What a shock. First of all, there's this.

World stock markets, glimpsing hope that Europe might finally be shocked into stronger action, staged a big rally. The Dow Jones industrial average in New York rose almost 300 points. In France, stocks rose 5 percent, the most in a month.

Wait, STRONGER action? I thought markets only responded favorably when governments were laisez faire and shit. So what sort of "stronger action" are we talking about?

One proposal gaining prominence would have countries cede some control over their budgets to a central European authority. In a measure of how rapidly the peril has grown, that idea would have been unthinkable even three months ago.

Allowing a central European authority to have some control over the budgets of sovereign nations would create a fiscal union in Europe in addition to the monetary union of the 17 countries that share the euro currency.

HOLY SHEE-IT!! A central European authority? JAY-SUS H. JOHNSON!!! Time to add a fuck load of guns and ammo to the bunker. There is no doubt in my mind that we're going to start hearing an uptick in paranoid shrieking from this side of the pond about the "Amero."

And I'm still wondering why the free market wants stronger government action.

The problem in Europe has always been that they have a monetary union but not a fiscal one. Certainly, this monetary union has added strength to the idea that economic cooperation prevents military confrontation-something the continent sadly knows all too well. But having a monetary union isn't enough. A fiscal union (as we have here between our states) is also important. If you're going to have one, you have to have the other and that's been the mistake all along.

Now, it's no problem to debate whether it's in their best interests to even have both. On the one had, the EU's combined GDP is greater than ours. On the other, however, decades old squabbles and ancient tax policies seemingly make working together impossible. And there are a myriad of issues in between that warrant serious thought.

Where I draw the line, however, is the paranoia about control. Honestly, it's not even warranted. If there's one thing that this entire crisis has proved, ineptitude, not totalitarianism, is usually what prevails these days when it comes to interstate unification. I mean, we're still working out the kinks on ours out, right?