Wednesday, March 20, 2013

Murky Markets

You use of the term "Obamalini” to denote President Obama -- implying that Obama is a Fascist or resembles one -- indicates that your relationship to reality is murky, to say the least. I grew up in a Fascist country and spent years studying the history of various European Fascisms. Nothing, but NOTHING, President Obama has done has shown the slightest resemblance to any kind of Fascism.  Your use of this cheap and mendacious slogan indicates that your ideas are controlled by your political fantasies.

By the way, I don't even like Obama. I think he's a stooge of Wall Street.

You have adroitly missed my point.

A “market” as such is a guarantee OF NOTHING AT ALL. For there to be any assurance of a Pareto-optimal outcome, the market MUST BE COMPETITIVE. You expressly proposed that the oligopolistic finance sector decide how to allocate investment. We tried that. It didn't work.
That is the Big Lie of conservative economics: attributing to ologoplistic markets subject to all kinds of market failure all the virtues of a free, competitive market.

Conservative hypocrisy is nauseatingly obvious: all of you turkeys are saying “Let the market do it!” I HAVE NEVER ONCE HEARD A CONSERVATIVE RECOMMEND THAT THE MARKET BE RENDERED MORE COMPETITIVE BY STRUCTURAL REFORMS.
You took the term “competitive market” and amputated the “competitive" part, but you continue praising this rump market as if it were the genuine article.

A cui bono analysis of your statements would indicate that, while claiming to favor the free market, you are actually nothing but a pimp for ologopolistic capital.
Wall Street’s claim to be a “free market” resembles Communist East Germany calling itself the “German Democratic Republic”. You conservatives are the new communists. But more ruthless and less simpático.

You proposed that the oligopolistic finance sector decide where to invest. In addition to being oligopolistic, Wall Street is run by crooks. Goldman Sachs selected the worthless securitized mortgages to be packaged and sold to investors -- lavishly decorated with  triple A ratings -- and then turned around and sold the very same securities short, because he knew they were going to  tank. Are you seriously proposing that investment decisions be made by con men like Henry Paulson?
That means you're not only a pimp for big corporations, but you are actually proposing that we subsidize organized crime.

Read my article The Austrian School of Corporate Crime at

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