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View Diary: Panic among the libertarian economists: Success with the stimulus will prove their theories wrong (57 comments)

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  •  How bad does TARP warp the free market? (8+ / 0-)

    The whole free market ideology is so much propaganda.  The powerful in this country have been warping the "free market" they so loudly defend since capitalism got really rolling.  The powerful have grasped control of advertising, of media, and government itself.  If you can set the rules and control history, you are not allowing anything remotely like a free market.

    •  The tarp is the result is the result of poor (0+ / 0-)

      government policies and poor government oversite.  this ways gives a bit to everyone, the small gov types blame the policies, and the big gov types blame the lack of regulation.

      What we do not need is a bunch of lawyers running the economy.  Just look at Sarbanes/Oxley, it did major damage to our domestic stock market and London became the place to go public, not new york.  If Sarbanes/Oxley was put together by those who knew what they were doing, then maybe it would have helped.   But I don't trust a bunch of lawyers when it comes to economics.

      •  You don't make any sense (2+ / 0-)
        Recommended by:
        Killer of Sacred Cows, mkor7

        we let the market price risk, and the biggest players busted.  The TARP comes out of fear for the social ramifications of letting them bust (i.e., a sharp decline in country club memberships).  Capitalism has its own way of telling you when you took on too much risk: you give all your money to somebody else.

        The government is the only thing keeping your brave heros at the trading desk from emptying out their accounts.  The poor policy was not making it impossible to make all these idiot trades.

        "Dream for just a second and then do it!" -- Kolmogorov

        by theran on Fri Jan 23, 2009 at 05:26:18 PM PST

        [ Parent ]

    •  two ways you can judge a country (0+ / 0-)
      1. how many want to get out vs. how many want to get in
      1. how the people on the bottom rung live compared to their peers in other nations.

      we must be doing something right, economic cycles can not be stopped by fiat, they are part of the free market.  The government can reduce the blow with good Fed policy but the cycles will always occur.  And of course we need to root out corruption both in government and in the private sector.

    •  yep, screw "free market" lies (5+ / 0-)

      they have worked so hard to gut the middleclass in the name of low wages and high profits that only radical changes will save this economy. The problem is that all people educated in America swallow the lie about unions and "free markets". You can see by the arguements here like "we don't need no lawyers running the economy" and other false directions.

      What we need is a government run by people who work for the people in America that PRODUCE the products we live by. We need powerful unions to bargain for the common man and we need a tax structure that will limit the gap between rich and poor. Only then can this country be great for it's people once again.

      •  Yes (3+ / 0-)
        Recommended by:
        Clzwld, mkor7, island in alabama

        So far, however, in spite taxpayer money (that's out money, BTW) being thrown to every big financial player the neoliberals (read Paulson, Rubin, Bernanke, Summers, Geithner) can find, the public doesn't own one solitary thing of value,  Even when we alleged got preferred stock, it was non-voting.  How to these banksters get away with this crap?

    •  Very badly (2+ / 0-)
      Recommended by:
      DaleA, Clzwld

      What's the Lehman bonus pool like?  What about Merrill?  Notice the difference between TARP and no TARP.

      (I am a bit amazed that the people who looted Merrill seem to think they "deserved" it---one of the basic notions of capitalism is that if your company busts, you stop getting paid.)

      "Dream for just a second and then do it!" -- Kolmogorov

      by theran on Fri Jan 23, 2009 at 05:19:36 PM PST

      [ Parent ]

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