TIME for Socialism?

June 23, 2008 6:09 AM by Thomas DiLorenzo

What Time's "fix" involves is essentially the Sweden-ization of America, where the average working family would be handing over 65-70 percent of its earnings to government bureaucrats, with regulation-induced price increases eating up perhaps another ten percentage points. This all needs to be done at the very beginning of the next administration, moreover, for "putting off change won't be an option much longer." It is a perfect recipe for impoverishing America. FULL ARTICLE

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The CRA Scam and its Defenders

April 30, 2008 7:38 AM by Thomas DiLorenzo

The myth that the CRA would not be harmful to bank-industry profits was hidden for years by the Fed-created housing bubble, which allowed for easy refinancing of all the bad debt. But now that the bubble has burst, all those unqualified borrowers -- whom the government calls "subprime," as though their credit ratings are only a tiny, tiny smidgen below "prime" borrowers with the very best credit ratings -- are defaulting on their mortgages in droves.

Bank profitability has been extremely "undermined," to put it mildly. The bursting of the Fed-generated housing bubble is the reason why the CRA scam was not exposed until now, despite having been in operation for some thirty years. FULL ARTICLE

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How "Sweatshops" Help the Poor

November 9, 2006 11:20 AM by Thomas DiLorenzo

One of the oldest myths about capitalism is the notion that factories that offer the poor higher wages to lure them off the streets (and away from lives of begging, stealing, prostitution, or worse) or away from back-breaking farm labor somehow impoverishes and exploits them. They are said to work in "sweatshops" for "subsistence wages." That was the claim made by socialists and unionists in the early days of the industrial revolution, and it is still made today by the same category of malcontents – usually by people who have never themselves performed manual labor and experienced breaking a sweat while working. (I am not referring here to the red herring claim that most foreign "sweatshops" utilize some kind of slave labor. This is an outrageous propaganda ploy designed to portray defenders of free markets as being in favor of slavery). FULL ARTICLE

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