It’s raining, pouring, economic fallacies by the hour, followed by a flood of horrible policy that is driving us ever further into economic depression. The regime in charge has really gone nuts, revealing itself as both deeply ignorant and horribly evil.
We find ourselves facing the horror of what has always been the Achilles heel of the left wing: its abysmal ignorance of economic science. The ideological tendency has gone from Keynesianism to outright socialism in a matter of a few weeks. And the trajectory seems to be accelerated mainly by the logic of the interventionist cycle. FULL ARTICLE
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K Ackermann: “GDP, on average, has increased more under democratic rule than republican rule, so I don’t know why they are labeled the ignorant ones.”
GDP is not a good measure of growth because it includes state spending which accounts for about 40% of GDP (the feds take about 20%). So all the state has to do is send more and GDP increases.
The state cannot enable the economy to grow. It either gets out of the way and lets the free market work or it hinders economic growth, but it cannot assist growth. So there is no cause/effect relationship between which party is in office and economic growth.
Attributing economic growth to the political party in power is like crediting the rooster for the rising of the sun. It’s a popular myth government makes the economy grow. As far as I know, only libertarians understand it’s a myth, which means that 99% of the country believe the myth to be true.
What we don’t need is false hopes of there being a resurgence in free-market thinking. Defense of free markets by the likes of Buchanan is no more encouraging than Reaganomics; it reeks of partisanship.
Let’s not be deceived by such superficial posturing by those who oppose the administration not because the administration is wrong, but because that’s what the opposition does.
This is not to say that the article is right-wing propaganda. But we should give credit only when it is due.
What we don’t need is false hope of there being a resurgence in free-market thinking. Defense of free markets by the likes of Buchanan is no more encouraging than Reaganomics; it reeks of partisanship.
Let’s not be deceived by such superficial posturing by those who oppose the administration not because the administration is wrong, but because that’s what the opposition does.
This is not to say that the article is right-wing propaganda. But we should give credit only when it is due.
It’s only my opinion, but the Republican change of heart is too little too late. We are on a runaway train, and this administration is going full throttle.
When this train derails, I don’t know that there will be any pieces left for the Republicans to pick up.
Julias Ceasar campaigned on a platform of change. After winning the favor of the majority, he converted Rome from a republic into a dictatorship.
IMHO: “…I don’t know that there will be any pieces left for the Republicans to pick up.”
Republicans are no better. Does anyone think policy would have been different under McCain? There was hardly any difference between McCain and Obama. Republicans oppose Obama now because they are in the minority and that’s all they know how to do. But had McCain won, we would have witnessed a continuation of Bush’s efforts to promote socialism. No president since Johnson has advanced socialism as much as Bush did, and all the while proclaiming himself to be pro-free market. Democrats may be socialist, but Republicans are socialist-lite and more dangerous than Democrats because Republicans pretend to care about capitalism.
“Socialism crushes human rights, builds the state, impinges on the liberty of conscience, and breeds social, cultural, and economic degeneration.” Sounds like Capitalism to me…ie: Own the Government, Crush the Rights and Liberty of The People
Yuma: “Sounds like Capitalism to me…ie: Own the Government, Crush the Rights and Liberty of The People”
You’re thinking of the socialist definition of capitalism in which corporations buy the government. Of course that is a straw man. Socialists never could debate true capitalism and maintain their dignity or their illusions.
Is it not Obombanomics and is he not the Obamatsnuami?
As a voluntaryist, (a.k.a., pacifist anarchist), witnessing the sterile efforts of government officials desperately trying to “stimulate” the economy is an encouraging picture–viewed in the right, long-term light.
Most Americans believe that government is the only institution that can accomplish any number of desirable objectives on their behalf, and the cost to them in taxes and regulations is evidently acceptable. Who but the federal government, they would ask, has the power and authority to explore outer space, eliminate segregated schools, protect the nation’s food supply, secure us in our freedoms, stimulate an entire economy, and so on. Some of the problems Americans face today are even be too big for the federal government alone to fix, and will require world-size government to deal with such problems as global warming and climate change, the policing of near outer space, the rapid depletion of the oceans’ fisheries worldwide, a global recession, and so forth, No individual nor non-governmental enterprise can begin to address issues of such enormous magnitude. Only government can do it, is the belief of most Americans, and only government of sufficient size.
Inherent in this thinking is the immoral concept of getting something for nothing, or at least receiving government benefits of greater value than what one is willing or required to pay for them in taxes. As long as Americans believe this is possible–believe in government–the most strictly limited government will grow, constitutional or any other impediments to the contrary notwithstanding.
Ludwig von Mises, was among the wisest men–if not the wisest–of the 20th century. Unfortunately, he thought anarchy was a naive concept; that the free market needed government to punish those who would disrupt peaceful human exchange by initiating force or fraud. On this crucial point I believe, dare I say it here, Mises erred. For government itself must first initiate force in order to collect the taxes upon which all governments depend. As wise as he was, I don’t think Mises was as smart as Jesus who opined that a bad tree (government, because of its use of force to collect taxes) cannot bear good fruit (protection of the free market).
The futile efforts of the federal government to stimulate the economy may serve to free some minds of the only-government-can-do-it heresy. And as the economy sinks, doubts may also be cast on President Obama’s ability to walk on water.
Hi Fundamentalist,
I hope you’re doing well.
I did not mean to imply that the Republicans were any better. It’s just that there has been all this talk in the media about how Republicans and Conservatives must change their ways in order to get back into office and effect change.
My point was simply that it may be too late to change.
hey fundamentalist & imho:
now you’re both on the same post as ned netterville, have you read his paper “jesus of nazareth – illegal tax protestor”?
i found it fascinating.
Rockwell is no better than the people he criticizes. I have read the garbage he has written on waste and if that is representative of how he thinks he is not worth reading.
Newson, No I haven’t read it. Do you know of a good web site to download it from?
to fundamentalist:
here’s the link for the pdf. i’d like to give ned a plug. he’s produced an interesting essay.
http://www.jesus-on-taxes.com/Page_7.html
Thanks for the kind words, Newson.
Thanks for the kind words, Newson.
Nate said, “Anyway, I’ve never felt more intellectually fulfilled in my life. I feel like I at least have a chance at understanding economic happenings now. And I couldn’t be happier with this site and its members.”
Nate, I can relate. I feel much the same way you do. The first academic subject I really liked in school was Econ 101 when I got to college. I then took all the econ courses I could handle, accumulating many more hours in econ than in my English major. In all of those courses I never heard the name Ludwig von Mises mentioned. Money & Banking was my favorite course, but I don’t recall that it even discussed how M&B influence the trade cycle–boom-bust. About ten years out of college I was introduced to libertarianism through THE FREEMAN magazine, which at the time under the leadership of Leonard Reed was probably Mises leading publisher. Anyway, I envy you because I think you, like me, will come to treasure his books as some of the most influential writing you will ever read. My first of his books was SOCIALISM, and I trembled as I witnessed him utterly demolish every scrap of socialism’s intellectual foundation. HUMAN ACTION was even more tantalizing, but some of it was difficult. So, Bon Voyage. You have embarked on a soul-satisfying adventure.
“Beating Back Obamanomics”
Nothing of the sort will be done.
The only person in Washington that makes sense is Ron Paul for he explains why the Federal Reserve should be abolished.. We are facing a moral issue of Theft through Legislation. As long as this issue is not understood in the minds of men and through legislation then all other discussions are fruitless and lead nowhere.
The moral-economic issue fell off of a cliff in 1913 and it is still falling no matter all of the Left and Right, Republicans and Democrats wailings’ this will not be resolved until this moral catastrophe of our time is. The end will come and then splatters as the morally corrupt system of Theft hits the ground. Only then will it be acknowledged what great mistakes were made and a new beginning will commence… Don’t hold your breath on that one though.
This of course will take some time, it has already been falling for almost 100 yrs. none of us may be alive when the end comes but it will come. Institutionalized Theft is not the way for a free society to prosper.. The Federal Reserve and Fractional reserve Banking with the aid of the Internal Revenue Service will ensure disaster ahead.
The corrupt thinking that created The Federal Reserve is still very much alive and active and all corrupt political power is being harnessed to keep it so. Will the Dark Ages return? The chances are almost 100%.
Time to start making statements
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