tag:blogger.com,1999:blog-8167210975362071658.post6439531509752432317..comments2024-03-04T11:41:37.259-05:00Comments on lovable liberal: Not in the marketlovable liberalhttp://www.blogger.com/profile/15616294696912710046noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8167210975362071658.post-88481829341411229602009-03-08T01:22:00.000-05:002009-03-08T01:22:00.000-05:00Paul's been getting airtime because CNN has always...Paul's been getting airtime because CNN has always had him on. TV networks love simplistic nonsense, which is why they are completely unreliable for anything other than pictures.<BR/><BR/>Paul's economics claims that everything would be peachy if government did nothing at all with economic impact. It's just bullshit. So Paul wants to abolish the Fed and let private firms manage the money supply as they see fit, based on transparency enforced (ha!) by the "free" market. It's a delusional fantasy.<BR/><BR/>If the "free" market were going to enforce transparency, it would do it even if the government was attempting to enforce transparency through regulation. There would just be redundancy.<BR/><BR/>In the current crisis, did anyone in a position to provide a competing investment know that all this debt was poison? Paul Krugman. But even the "smart" money on Wall St. - even Warren Buffett - kept buying it.<BR/><BR/>An unregulated financial market <I>inevitably</I> finds a way to blow up a bubble, and a bubble <I>always</I> bursts. The fault here is with the market - and with the government for listening to "free" market advocates urge deregulation.lovable liberalhttps://www.blogger.com/profile/15616294696912710046noreply@blogger.comtag:blogger.com,1999:blog-8167210975362071658.post-74428586621075591782009-03-07T16:28:00.000-05:002009-03-07T16:28:00.000-05:00Paul is going to turn 77 during the 2012 campaign,...<I>Paul is going to turn 77 during the 2012 campaign, he got into politics to defend the gold standard, and his libertarian economic ideas have been thoroughly discredited by the current crisis.</I><BR/><BR/>Discredited? Paul was one of the few people who predicted the current crisis. The economists of the Austrian all saw the crisis coming, and you think that their views are discredited? There is a reason Paul has been getting far more airtime on the network news lately - he is one of the few that knew this was going to happen and commentators are interested in knowing how he knew it.mroberthttps://www.blogger.com/profile/14871823172400103970noreply@blogger.com