1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar
Source link: http://archive.mises.org/8994/have-no-fear/

Have No Fear

November 20, 2008 by

Obama will end the business cycle with more regulation and redistribution (YouTube).

{ 19 comments }

eric lansing November 20, 2008 at 3:04 pm

Mr Market sure hasn’t given Obama a warm welcome. What an ugly liquidation today.

ralph h November 20, 2008 at 3:14 pm

Ron Paul ‘s question to Ben Bernake about a new monetary system was rather prescient after the sell-off today. How do you bailout Citigroup?

Stanley Pinchak November 20, 2008 at 3:21 pm

Once Obama slays the calculation problem, chickens will fly into everyone’s open and awaiting mouth. If good regulation is all that it takes to control an economy for the betterment of the state, why
is it so elusive? I do not look forward to the inevitable misallocations that regulations will cause, nor do I expect moral hazard to be lessened under an Obama regime. I furthermore, expect to see a greater dearth of due diligence by private parties in exchange as the nanny state will surely protect us from ourselves.

Will the interventionists ever recognize that it is intervention which causes the perturbations in the economy which they use as justification for further intervention? Can their empirical statistics tease the correlation between intervention and undesired economic results into focus, lay it bare for all to see as theory already does? Or in the event that this aspect were even accidentally uncovered, would the results be buried by the state economists in self interest and deference to maintaining a suitably posh court intellectual lifestyle?

shane scheid November 20, 2008 at 3:37 pm

Soooo….does this mean….that junkies can avoid a “repeating cycle” of hangovers and withdrawls by doing 21st century drugs in bigger amounts????

C. Evans November 20, 2008 at 3:41 pm

“Will the interventionists ever recognize that it is intervention which causes the perturbations in the economy which they use as justification for further intervention?”

My answer is No, they won’t. These people have no faith in free markets and some are quite hostile to the idea of individual liberty just as the early Progressives were. They are simply unwilling to live in a free society and can’t imagine letting people direct their own lives. I think Chodorov’s theory of innate socialism may be right; some people are just born statists.

Christopher Lewis November 20, 2008 at 4:21 pm

Building on what C. Evans wrote, what we are seeing and hearing is proof positive of his, and the whole political establishment’s for that matter, lust for power. I don’t know if it is so much of having “no faith in free markets” as it is being just absolutely self absorbed in the “unconstrained vision”, as Thomas Sowell so aptly put it. So consumed with the naive vanity that they can be the “surrogate decision-makers” to push our society forward and achieve the perfectability of mankind.

Forgive me, I just threw-up in my mouth.

murray November 20, 2008 at 4:33 pm

“innate socialism”

in a truly “free” society, where every citizen has an equal vote, (varied) wealth classes can not exist

you could posit that you could have a 50/50 split of poor and rich

but in such a case a proportion of the poor vote would always be bought-out by the rich

wealth gravitates to those most capable (of accruing wealth)

which means fewer and fewer rich

until the point comes when the poor vote themselves the assets of the rich – if they have an equal vote

this was the one inescapable truth that Milton Friedman could not, in the end, deny

as the middle class (who identify themselves with the rich) is decimated and reduced to poverty

they will support anyone who promises them a portion of (other people’s) wealth

in this way, yes, we are innately “socialist”

but really what we are is innately self-serving

and rightly so

it’s a gene thing

selfless genes tend to disappear from the pool

and i imagine that anyone who defends to the death another man’s right to his own wealth will disappear from the gene pool also

unless of course we accept the real truth

that well-fed people can have ideological beliefs

but people watching their children starve will be “socialist” in this sense

have a nice day

m

happylee November 20, 2008 at 4:58 pm

Hooray! Finally, someone as decisive as, well, Cristina Fernandez

DD November 20, 2008 at 5:36 pm

“I think Chodorov’s theory of innate socialism may be right; some people are just born statists.”

Yes, some are born socialists, but only as long as they are running the show.

“Will the interventionists ever recognize that it is intervention which causes the perturbations in the economy which they use as justification for further intervention?”

Are you all telling me that we can send men to the moon, but we can’t figure out what causes the business cycle? Or that a pHD like Barak Obama can’t understand what Capitalism is? This is nonesense! This is a religion just like any other religion. It is all faith based and has nothing to do with a rational dispute. Just as we have been ruled by the church for hundreds of years, now we are ruled by Socialists! I’m not trying to be militant here, but I can’t imagine converting the pope by talk and some science book. I don’t think we can convert these socialists either. Thomas Sowell in one of his latest books, says he doens’t think there is a point of return to freedom, unless there is a coup at some point in the future. Right now, there seems to be a coup in the other direction.

Yancey Ward November 20, 2008 at 6:30 pm

Stanley,

Stop being ridiculous!

Those chickens will be cooked first.

Kevin B November 20, 2008 at 7:56 pm

DD: “This is a religion just like any other religion. It is all faith based and has nothing to do with a rational dispute. Just as we have been ruled by the church for hundreds of years, now we are ruled by Socialists!”

I agree. There is little if any willingness to proceed scientifically. Myths and magic are absolute truths to these empirical thinkers.

thesprot November 20, 2008 at 8:07 pm

Obama will also, defeat the enemies of the USA, he will spread democracy to the people of the world by invading them, he will also provide healthcare for americans, he will give free credit to everyone, fix the car makers, stop assets from declining, and stop property prices from falling. In addition he will also suspend gravity, and stop the universe from expanding ever so fast.

All this for free, all this because he loves you, all you have to do is call him Papa, or Dear Leader, or Fearless Leader, depends on the occasion.

Stefan Guta November 21, 2008 at 1:51 am

Apparently Ronald Reagan once said that the only thing more disastrous than a failed socialist policy is a succesfull one.

Now, which one do you think americans will get under Obama?

Robert Nabloid November 21, 2008 at 2:07 am

“Will the interventionists ever recognize that it is intervention which causes the perturbations in the economy which they use as justification for further intervention?” – Stanley Pinchak.

- How can they when they don’t know what ‘perturbations’ even means? Your thinking is far too complex for the average person and politician. Even those that do understand have a hard time explaining it to others. Obama has a Phd and so he technically can be considered to be part of the “educated” and “knowledgeable” class, right? … and yet today I seen a video from the campaign where he said, and I quote, “I have now been in 57 states. I think one left to go.” I think I’m in that 58th state and everybody has forgotten about me – I’m just hoping it stays that way!

One of the problems with politicians is that they get elected and are expected to do “stuff” and look busy. Yet, what we need is a politician who stops doing “stuff” just to look busy. They don’t know what they are supposed to do except meddle in our affairs… and we expect them to promise us things and paint pretty pictures of the future when they lead… Yuck.

Oh how I hate what we call “Democracy”. I don’t hate the idea of democracy, (well sometimes I do when I see really stupid people that don’t know SH!T voting (watch the video on howobamagotelected.com!)), but I hate that we are using the definition so loosely as to call the United States a democratic nation, just how we continue to call this capitalism. This isn’t capitalism. This isn’t a democracy either… we have two parties! You get to choose A or B! Both do almost the same things, with a few differences on minor issues to divide us. With McCain you would get more bailouts… With Obama you will get more bailouts. That is despite the fact that a true conservative would NEVER hand out money freely in bailouts and should follow the Austrian School of Economics. AND that is despite the fact that left-winger liberals (and socialists/communists) would never want to give money to the big evil rich corporations (they often talk of doing the opposite!) – yet that is exactly what is happening.

Obama and McCain were more similar than many would admit. They played upon emotions and used ambiguity against us so we would paint our own pictures in our heads about what their words meant. I have yet to see one speech where Obama said what his actual plans are in detail… It’s becoming a waste of time to listen to what the man has to say – because it is often a long speech that says NOTHING and just plays on people’s emotions. I’d rather just read about the bills he is trying to pass… They speak a little louder than his words.

Have No Fear, the Superhero Obama is Here!

If you would have told me the American people would vote overwhelmingly in favour of a President that votes in favour of handing out massive amounts of money to rich bankers, I’d have thought you were telling a joke. But then again, both McCain and Obama were in favour of it. Some choice you had – But hey, it’s a democracy, right? Isn’t it? They said it was in school! We get to choose party A or party B.

Keith November 21, 2008 at 7:40 am

Quote from thesprot: “Obama will also, defeat the enemies of the USA, he will spread democracy to the people of the world by invading them, he will also provide healthcare for americans, he will give free credit to everyone, fix the car makers, stop assets from declining, and stop property prices from falling. In addition he will also suspend gravity, and stop the universe from expanding ever so fast.”

Great, but I also want to be thin, beautiful, brilliant, and have a good singing voice. What is he going to do for me?

Nick November 21, 2008 at 8:34 am

Quote from thesprot: “Obama will also, defeat the enemies of the USA, he will spread democracy to the people of the world by invading them, he will also provide healthcare for americans, he will give free credit to everyone, fix the car makers, stop assets from declining, and stop property prices from falling. In addition he will also suspend gravity, and stop the universe from expanding ever so fast.”

And a PONY!!

gene berman November 21, 2008 at 8:41 am

Pinchak:

You got it all wrong. It’s pigeons, not chickens!

Pat November 21, 2008 at 9:01 am

In my humble opinion, he won’t be able to do what he said he would do and then, a sizable of his supporters would desert him, for he won’t appear to them to be the man they thought he was (The messiah, that is). Unfortunately, I am certain that the vast majority of those people who will desert him would simply look for what they would call a good and strong leader, instead of questioning their belief in an activist government.

Brother Grimmig November 21, 2008 at 9:33 am

Once upon a time, two King’s lived in a land of plenty and glory. The kingdom was divided exactly in the middle by a river called “money”. Both Kings had marvelous castles and unique animals that were only found once in the world. Also their people were competing with each other over their craftsmanship, their jewelry and the luxury and comfort in their houses as well as trying to reach the highest education of their respective children who were either to be great talents or geniuses. One day, the two Kings were so satisfied with their states that they challenged each other to place a bet, who has the richest part of the kingdom. First, they waged their daughters and sons on the bet, then parts of their land and at the end all of their riches. In order to prevent any cheating, they placed all their riches and all their food into a big tower and only the keys were to be given to the winner of this bet.
But both towers were the same height and filled up to the same level. In the end, the magisters and the Kings got in a never-ending argument over who has won the bet. Their people started to ask for their luxuries, for food, but everything was still behind closed doors and nobody had the right to open them. After many years, both Kingdoms were strained to the limits, all the unique animals had been killed and eaten and people were dying from hunger on both sides. That is when one of the Kings put fire on the two towers, because he could never concede the victory to the other King. A fierce war resulted that last many more years and where there was once a beautiful Kingdom divided by a river there is nothing lef but swampland.

Comments on this entry are closed.

Previous post:

Next post: