Re: Blindly Into the Bubble

On Dec 22, 1:56 pm, Lantern <lanter...@xxxxxxxxxxxx> wrote:
Don't you think the subprime mess is the free market adjusting itself?
The banks and other financial companies are suffering from their
unscrouplous practices... as well they should, imho.

Maybe we should follow the libertarian doctrine after all -- let
the free market to adjust itself no matter what. Without the
intervention of the Central Banks (hundreds of billions of cash to
help the banks so far), the credit crunch will cause a complete
meltdown of the financial system and cause catastrophe worse than the
Great Depression. Large portion of people will be out of work, the
society will be in turmoil. Then the fantasy of libertarian will
evaporate once and for all.

Both Reagan and Greenspan claimed to be libertarian who were
against market regulation and supported tax cut even under huge
deficit. The former started the huge national debt that sent this once
mighty nation into a downward spiral (http://www.cedarcomm.com/
~stevelm1/usdebt.htm); the latter started the subprime crisis and
invented a new method to cook the inflation number to cover up the
real condition of the economy.

Maybe we should let these libertarians REALLY prove their theories
once and for all. They will find that free market capitalism without
crisis control is a series of catastrophe waiting to ruin the society.
.

Relevant Pages
Quantcast