"Mark M."
techz.net> wrote in message
news:47ad873b$0$6481$4c368faf@roadrunner.com...> Marcello wrote:
>>>did the Laissez-faire free market create the perfect storm not seen
>>>since the great depression? fear of lending, fear of borrowing, the
>>>only instances we have experienced both in modern times are the Great
>>>Depression and Japa
>>>
>>>
http://suddendebt.blogspot.com/
>>>
>>>there was no government intervention here, the groups of sellers,
>>
>>
>> I don't know how you can say there was no government intervention when
>> the government permits the Fed to print its money as well as set the
>> prime banking rates. Very poor monetary policy is the cause of this
>> massive bubble, and in fact if left alone in a laissez-faire situation
>> (something not likely to happen) it would correct itself in time. But
>> the government will continue to bail out those who chose poorly, both
>> individual and institutional. Blaming this mess on laissez-faire is like
>> blaming your child for the way he dresses when you buy him all his
>> clothes.
> Ultimately, every problem is blamed on government, especially in the
> ironic instance when government fails to take on a more active role in
> regulating business practices.
There are a lot of thins that are falsely blamed on government, but that
doesn't mean government intervention is always positive. My reply was in
response to the lending issues currently, to which the government is in fact
mostly to blame to due terrible fiscal policy. I am not coming in to
champion Laisex-faire, but in this game, blaming it is clearly misdirected.
>
> The laws of the United States have been thoroughly corrupted by financial
> interests. So because we don't have enough government we should blame
> government?
Huh? A corrupt government is not to blame because its corrupt?
>
> The incredible level of debt per capita has been deliberately built up by
> the bankers through a process of law changes backed by an expensive and
> pervasive b.s. industry. Academics, news media, think tanks, advertisers,
> as well as politicians have sold us out to financial interests.
Actually the root is an increasing money supply that permits banking
institutions to loan money it doesn't have.
>
> Government debt, consumer debt, and mortgage debt are all ways for the
> finance sector to consume an enormous proportion of production without
> doing anything of real value.
The fact that consumers ate up this debt doesn't negate the fact that the
reason it even existed is government's monetary policy of a controlled fiat
currency, something a laissez faire system does not promote.
