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November 5, 2008
Laissez-faire capitalism? Not in the U.S.
The Myth that Laissez Faire Is Responsible for Our Financial Crisis
Five Myths About the Great Depression
Our media-Scribes have a profound contempt for economic liberty. Worst: our media-Scribes are Marxist hustlers who use fancy talk to convince you and I to hand over all our money to them.
Economic liberty (Laissez-faire capitalism) is defined as individuals having ownership and control over the means of production. Not society -- not government -- and certainly not Jewish media-Scribe slick-talking hustlers.
Stated simply: if you do not have control over your own money and property, then they have control over your money and property. And that is exactly what they want. They are greedy bastards who want everything you have worked hard for. And like any hustler, they will get your money out of your hands with slick talking oratory: "Help the widows and orphans", they will say.
Individually-owned Capitalism or society-owned Marxism. Which do we want?
The media-Scribes want us to believe that the Federal government does not have enough control over the economy? You decide.
Here are the list of Federal Departments who will be reporting to President Obama:
How many of these department exist primarily to command the economy? -- 9 out of 15.
Then there are the countless agencies under them:
Where in the world do these Jewish socialist media-Scribes get off that the economic meltdown was due to too little federal government oversight?
This is just at the federal level. There are even more regulations at the state level. Even cities have zoning ordinances that businesses have to adhere to and taxes businesses have to pay.
You have to be insane to think we never had a Great Depression from 1776 to 1929 because we had too much government; whereas, after the creation of the Federal Reserve in 1913 to control the business cycle and prevent bank panics, that we had our first Great Depression and almost our second one now, because we had too little government control.
It must help to be a little insane if you are a media-Scribe.
Walter Williams is so spot on that I cannot continue to paraphrase him anymore:
There is ruthless regulation, but it's not by government.
Take the mortgage industry. In the absence of government interference, it is unlikely that a lender would extend a mortgage to a person with a poor credit history, making no down payment and providing no verifiable employment history. But under the pressure of the government's Community Reinvestment Act and Fannie Mae and Freddie Mac buying up or guaranteeing such mortgages, a lender will.
--Walter Williams (One who would have been a far better first black President!!!)
The rejection of laissez-faire capitalism is a rejection of the Constitutional right to property.
He who has the gold
It is a fact that the biggest consumer in our economy is government. Government spends more than $40 of every $100 spent. That $40 is taken from you and I by force, and for the most part, spent unwisely.
Jewish media-Scribes cannot talk about laissez-faire capitalism when over 40 percent of all money spent is not the capital of private capitalists.
Republicans are accomplices to the socialist Democrats
Greenspan was appointed to the Federal reserve by Republican Ronald Reagan and served through several presidents; Bush appointed Bernake to the Federal Reserve. Both were trumpeted by the media-Scribes as master economic magicians. Both manipulated our economy and none of our presidents have allowed the free market to self-regulate as it should do.
The Bush legacy to be Hoover's legacy
Our media-Scribes love to point to the current market meltdown as an example of unregulated free market greed. As bad as Bush is, Bush will go down in history as yet another Hoover, and like Hoover, there are no true unrepentant "capitalist pigs" who are willing to defend him, exactly because Bush was no "capitalist pig".
Five Myths About the Great Depression, by Andrew B. Wilson
The current financial crisis has revived powerful misconceptions about the Great Depression. Those who misinterpret the past are all too likely to repeat the exact same mistakes that made the Great Depression so deep and devastating.
Here are five interrelated and durable myths about the 1929-39 Depression:
Myth #1: Herbert Hoover, elected president in 1928, was a doctrinaire, laissez-faire, look-the-other way Republican who clung to the idea that markets were basically self-correcting.
Public projects undertaken by Hoover included the San Francisco Bay Bridge, the Los Angeles Aqueduct, and Hoover Dam. The Republican president won plaudits from the American Federation of Labor for his industrial policy, which included jawboning business leaders to refrain from cutting wages as the economy fell. Referring to counteracting the business cycle and propping up wages, Hoover said: "No president before has ever believed that there was a government responsibility in such cases . . . we had to pioneer a new field." Though he did not coin the phrase, Hoover championed many of the basic ideas -- such as central planning and control of the economy -- that came to be known as the New Deal.
Myth #2: The stock market crash in October 1929 precipitated the Great Depression.
Myth #3: Where the market had failed, the government stepped in to protect ordinary people.
Myth #4: Greed caused the stock market to overshoot and then crash.
In the late 1920s, cheap and easy money fueled a tremendous increase in margin trading and a proliferation of "investment trusts" that offered little in the way of dividends or demonstrable earnings per share, but still promised phenomenal capital gains. "Speculation," as Kindleberger neatly defined it, "involves buying for resale rather than use in the case of commodities, and for resale rather than income in the case of financial assets."
The last thing Hoover wanted to do upon coming to office was to rein in the stock market boom by allowing interest rates to rise to a more normal level. The key to prosperity, in his view, lay not in sound money and rising productivity, but in letting the good times roll -- through government action aimed at maintaining high wages and high stock market valuations.
Myth #5: Enlightened government pulled the nation out of the worst downturn in its history and came to the rescue of capitalism through rigorous regulation and government oversight.
In his economic policies and his incessant governmental activism, Hoover differed far more sharply with his Republican predecessor than he did with his Democratic successor. Calvin Coolidge, president from 1923 to 1929, made no secret of his disdain for Hoover, who served as his secretary of commerce and won praise from such highly regarded liberals as John Maynard Keynes and Jean Monnet. "That man has offered me unsolicited advice for six years, all of it bad," Coolidge said. He mockingly referred to Hoover as "Wonder Boy."
With the vitality of U.S. and world economies at stake, it is essential that the decisions of the coming months are shaped by the right lessons -- not the myths -- of the Great Depression.
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The Christian Solution © was released March 15, 2008