Obama thinks he is God and he can just erase economic law.
What he's saying is the rough equivalent to an astronomer saying we have to diminish gravitational pulls in the solar system so that an asteroid won't destroy humanity on Earth if they ever collide.
You can't stop economic laws in a market economy. It's like attempting to stop gravity or electromagnetism. They are FORCES, not switches you can toggle. He wants to change the nature of the economy! Bust-boom cycles are inherent in any market economy that has a central bank or experiences any sudden expansion of credit.
What he's saying is the rough equivalent to an astronomer saying we have to diminish gravitational pulls in the solar system so that an asteroid won't destroy humanity on Earth if they ever collide.
You can't stop economic laws in a market economy. It's like attempting to stop gravity or electromagnetism. They are FORCES, not switches you can toggle. He wants to change the nature of the economy! Bust-boom cycles are inherent in any market economy that has a central bank or experiences any sudden expansion of credit.
The only way in which that can ever come to pass, as Ludwig von Mises and other economists of the Austrian School of Thought have discovered, is via totalitarian, Communistic change. Erasing freedom off the face of the map in other words.
Unfortunately when there is liberty, some people fail, some people win..
If Obama want's to really stop these bad cycles, stop the Fed, which is the root causant for it, not the market. It's normal to for any market to enter a recession when there are misallocated resources. What we are experiencing however, is not a market process. It's the effect of a market intervention...
If Obama want's to really stop these bad cycles, stop the Fed, which is the root causant for it, not the market. It's normal to for any market to enter a recession when there are misallocated resources. What we are experiencing however, is not a market process. It's the effect of a market intervention...
Most commentators and politicians, and even everyday lower-case liberals make the misnomer of charging economic down swings on the "free-market". As Professor Hoppe has said "It's profoundly nonsensical thing to even suggest!" To say the market is responsible for the economic woes and maladies of today and yesterday is like saying let's blame gravity for causing airplanes to fall, or let's outlaw and severely regulate the practice of medicine because a score of neurosurgeons committed terrible back procedures that left three dozen patients in pain, deaf or paralyzed!
