Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yes, CLEARLY you don't have a clue about Libertarianism. There never would have been any bubble.
Like my earlier question that has gone unanswered. Bubbles are a consequence of demand driving up the value of a commodity, usually a durable good or investment. When the demand for that commodity drops so does its value. What principle of Libertarianism eliminates, what Greenspan refers to as irrational exuberance, when a demand irrationally drives up the price of such commodities? What mechanism, in a regulatory environment without mechanisms, will use monetary policy to tighten the money supply in order to prevent bubbles from arising (no pun intended)?
I look at this financial collapse like this. Both fiscal conservatives and liberals seem to generally agree on what caused the collapse. The difference is that they each have different emphasis when it comes to the primary causes of the collapse. Liberals tend to put emphasis on deregulation and lax oversite. Fiscal conservatives tend to put the emphasis on the Fed printing too much money which they say funded the housing bubble and put emphasis on gov't policy that tried to expand loans to people who shouldn't have gotten them.
Like my earlier question that has gone unanswered. Bubbles are a consequence of demand driving up the value of a commodity, usually a durable good or investment.
From what I've read on bubbles economist don't seem to agree on what does or doesn't cause bubbles. So there may actually be various causes of bubbles depending on the circumstances.
Some have tried to pin the crisis on federal home buyer programs, but that cannot come close to explaining the sheer scope and breadth of the meltdown.
All of the nasty things you site really happened and they contributed to and made worse the crisis.
However, if not for federal housing programs imposed on the market the crisis might never have happened. Even if the housing bubble STILL burst, it would not have been a crisis.
Everything else was a contributing factor. The only essential element was federal interference in the housing market.
This has nothing do with any Libertarianism and or any other ideology of liberty or restriction.
Those who control the system, the economic and money supply know where the power is how they can get away with it. Our government with this money supply for all its good intentions create illusion of wealth in housing and public projects furthering the careless and mindless spending.
First you must understand the value of money, the money supply and the long term effects of easy credit and the CONSEQUENCES.
Once people, government and banks pay for the consequences of their actions sound principled money and economics based on cause and effect will return.
People must have capital to invest and people most have faith in sound money which is protected by the CONSEQUENCES of failure and SUCCESS.
Those who cheat, and steal and a government who control the money supply must be held accountable and that includes the FED.
Bailing them out in any system is death and a moral hazard to economic balance.
Who were the first to suggest the bailouts? Banks and our government.. why? To cover up their shortfalls and give the illusion of security with fear and new laws to keep this insanity going.
If your going to direct the anger and or demand some regulations put it on the those who ignored all sound advice and economic standards!!!
Last edited by LibertyandJusticeforAll; 02-02-2011 at 11:31 AM..
The Libertarian thing would have been to allow the crash and burn. However it appears that likely would have caused a massive depression. Perhaps a total breakdown of the economic system.
Would that have been a good thing?
That's your opinion and the opinion of those who believe big government is the solution, not the problem.
But you don't know that there would have been a massive depression, do you. You say that because you think only government can be in control, not the markets.
Failing companies should be allowed to fail without exception.
Actually, the Libertarianism is the 'Tragedy of the Commons,' writ large. For example, if there were no collectively held property, see national parks, and Yellowstone were divided into privately held parcels, with each individual acting independently, based purely on their own self interest, eventually the land that would have comprised one of the great vestiges of American flora and fauna would have long ago disappeared as a result of economic exploitation.
The flaw in your logic is taking the principle of private land ownership to the extreme and excluding any concept of land held for the common good.
Libertarians desire minimum government, not "no government".
You totally misunderstand, either through ignorance or an attempt to be combative.
Anarchy is a state of society without government or law. No libertarian advocates anarchy or anything even close. In fact, it's just the opposite. Libertarians believe one of the few roles of government is enforcing laws for the protection of the people.
Interesting that you didn't quote the rest of the text.
Allowing people to follow their dreams without government intervention is a good thing. It does not say that we should have no government. It does say we should not allow government to tell us how to live our lives. It also says government should not tell us we cannot sell cars on Sunday, or open a liquor store on Sunday, etc.
If you cannot read the entire text you should ask for help. Many on this board can help with your inability to learn.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Where's Paul Harvey When We Need Him?
