A Simple Plan
The one thing I've learned from the current election cycle is that while Republicans have no coherent economic philosophy -- even John McCain is all over the map depending on the day -- the Democratic view of economics can be summed up in a single idea: Abolish the price system! Once you do that, the Democrats maintain, everything else will just fall into place.
Comments (5)
And one of the tactics that the Democrats use is to paint McCain as a supporter of free markets, and to blame free markets for the current crisis.
Neither is true of course.
Published: September 27, 2008 2:24 PM
It looks like it's going to be the Democrat's big year. Once they control the White House, House, Senate and at least 30 Governorships, are they going to stop blaming the Republicans? When they finally have to lead, we'll see what happens. The markets will discipline them, even if our mainstream media doesn't. Things will work out. Sometimes it takes a Carter to get a Reagan. What I am most concerned about it the imposition of the "fairness doctrine" and the attempt to limit the voice of the opposition.
Published: September 27, 2008 6:17 PM
I am surprised (but not really) that we are not talking about the real benefits of what this bail out is about to do. Simply stated we are about to give Americans an enormous shot in the arm economically while we screw everyone else who thought our economic system was a fair one. This would not do well on headline news to admit how unfair this plan was to those who thought our currency was a store of value. I fear the consequences of this however (losing world reserve currency status).
Published: September 28, 2008 5:39 PM
Well - the democrats have it almost right then!: for when they are done abolishing the price system, everything indeed will just fall into... pieces!
Published: September 28, 2008 6:01 PM
It seems to me that the most direct recent attack on the price system (apart from the bankster bail outs) was the SEC's ("temporary") abolition of Short Sales of financial shares.
The GOP controlled SEC took a page out of Lenin's book and decided to shoot the speculators! No market feedback allowed.
Now that's abolishing the price system!
There is enough blame to go around for either of the oligarchy's official tax-supported "parties" in this mess and in a Constitutional Republic they'd all be kicked out of office.
Only a Third Party vote this year is not a wasted vote!
Published: September 28, 2008 10:20 PM
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Published: October 25, 2008 4:46 PM