Markets slammed by Lehman collapse

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3 Responses to “Markets slammed by Lehman collapse”

  1. mad dog Says:

    Also check this out: http://www.lewrockwell.com/blog/lewrw/archives/022964.html

  2. briankoontz Says:

    That article is ridiculous, since the collapse was caused by the free market itself – the tremendous deregulation of the past 35 years. So the libertarian right gets the economy it wants, that economy collapses, and then the libertarian right says it wants more of the economy it had. Einstein defined insanity as “doing the same thing over and over again and expecting different results”.

    GWB himself said the federal government would not be managing AIG, despite a 80% ownership share. That is the first time I’ve heard a 80% owner saying he’s taking a hands-off approach to running a business. Apparently GWB has to own something in order to not want to control it, given that otherwise he’s into world domination.

    Wall Street IS the free market – Wall Street is the dreamworld of the libertarian right. If the free market isn’t saved by taxpayer money it goes under, which is hardly what the libertarian right wants.

    There’s no difference with respect to the free market whether the bailout is provided by Bill Gates or by American taxpayers. Yet if Bill Gates had done the bailout it would have been the “free market in action”, according to you, but when a different subset of the transnational elite, the American Government does it, it’s “socialism” (what a tremendous abuse of that term).

    Why exactly the totalitarian American Government is a “nanny state” but totalitarian multinational capitalists are NOT a “nanny state” is not known to me. Corporate Overlords are far more common than Governmental Overlords for most people, and are far more numerous.

  3. whocouldthisbe Says:

    “the tremendous deregulation of the past 35 years.”

    That is a lie created by statists and other frauds. You show me ONE relevant law that was deregulated in that time frame.

    “so the libertarian right gets the economy it wants, that economy collapses, and then the libertarian right says it wants more of the economy it had.”

    You could not be more wrong. The libertarian right wanted smaller government, the end of the federal reserve, the end of the IRS, less regulation, end to perpetual war, end of the war on drugs, among other things. The truth of the matter is that the big government statists got everything they wanted, its just that it fucked things up, now they blame the free marketeers like the pathological liars they are.

    “Wall Street IS the free market”

    It is most certainly not. It clearly has too many government interventions to be classified as such.

    “Wall Street is the dreamworld of the libertarian right.”

    Not even close. Here is what actual members of the libertarian right say about Wall Street: http://www.lewrockwell.com/rothbard/rothbard66.html

    “If the free market isn’t saved by taxpayer money it goes under, which is hardly what the libertarian right wants.”

    Incorrect. At least two major ‘Libertarian Right’ organizations, including the Ludwig Von Mises Society and the Cato Institute are opposed to the bailouts.

    “There’s no difference with respect to the free market whether the bailout is provided by Bill Gates or by American taxpayers.”

    So incorrect. Bill Gates would attach far more strings to the money, because it would be his. He would also find a way to profit from it. But Brian, the reason why they went to the government is because no one else WOULD bail them out. The government is the last place they turned to. The bailout is simply a bad business decision, so other private businesses refused to do it.

    “Why exactly the totalitarian American Government is a “nanny state” but totalitarian multinational capitalists are NOT a “nanny state” is not known to me.”

    In this day and age, both ARE a ‘nanny state’, due to their interlinkings with each other.

    “Corporate Overlords are far more common than Governmental Overlords for most people, and are far more numerous.”

    The issue is not the number, but the overall power each group/person has. An army of rabbits will not do anything to me, but a tiger will tear me to pieces.

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