By Yaron Brook
Government intervention in medicine is wrecking American health care. Nearly half of all spending on health care in America is already government spending. Yet President Obama's "reforms" will only expand that intervention.
Prior to the government's entrance into medicine, health care was regarded as a product to be traded voluntarily on a free market--no different from food, clothing, or any other important good or service. Medical providers competed to provide the best quality services at the lowest possible prices. Virtually all Americans could afford basic health care, while those few who could not were able to rely on abundant private charity.
Had this freedom been allowed to endure, Americans' rising productivity would have afforded them better and better health care, just as, today, we buy better and more varied food and clothing than people did a century ago. There would be no crisis of affordability, as there isn't for food or clothing.
But by the time Medicare and Medicaid were enacted in 1965, this view of health care as an economic product--for which each individual must assume responsibility--had given way to a view of health care as a "right," an unearned "entitlement," to be provided at others' expense.
This entitlement mentality fueled the rise of our current third-party-payer system, a blend of government programs, such as Medicare and Medicaid, together with government-controlled employer-based health insurance (itself spawned by perverse tax incentives during the wage and price controls of World War II).
The resulting system aimed to relieve the individual of the "burden" of paying for his own health care by coercively imposing its costs on his neighbors. Today, for every dollar's worth of hospital care a patient consumes, that patient pays only about 3 cents out of pocket; the rest is paid by third-party coverage. And for the health care system as a whole, patients pay only about 14 percent.
Shifting the responsibility for health care costs away from the individuals who accrue them led to an explosion in spending. In a system in which someone else is footing the bill, consumers, encouraged to regard health care as a "right," demand medical services without having to consider their real price. When, through the 1970s and 1980s, this artificially inflated consumer demand sent expenditures soaring out of control, the government cracked down by enacting further coercive measures: price controls on medical services, cuts to medical benefits, and a crushing burden of regulations on every aspect of the health care system.
As each new intervention further distorted the health care market, driving up costs and lowering quality, belligerent voices demanded still further interventions to preserve the "right" to health care: from regulations mandating various forms of insurance coverage to Bush’s massive prescription drug bill.
The solution to this ongoing crisis is to recognize that the very idea of a "right" to health care is a perversion. There can be no such thing as a "right" to products or services created by the effort of others, and this most definitely includes medical products and services. Rights, as the Founders conceived them, are not claims to economic goods, but to freedoms of action.
You are free to see a doctor and pay him for his services--no one may forcibly prevent you from doing so. But you do not have a "right" to force the doctor to treat you without charge or to force others to pay for your treatment. The rights of some cannot require the coercion and sacrifice of others.
Real and lasting solutions to our health care problems require a rejection of the entitlement mentality in favor of a proper conception of rights. This would provide the moral basis for breaking the regulatory chains stifling the medical industry; for lifting the tax and regulatory incentives fueling our dysfunctional, employer-based insurance system; for inaugurating a gradual phase-out of all government health care programs, especially Medicare and Medicaid; and for restoring a true free market in medical care.
Such sweeping reforms would unleash the power of capitalism in the medical industry. They would provide the freedom for entrepreneurs motivated by profit to compete with each other to offer the best quality medical services at the lowest prices, driving innovation and bringing affordable medical care, once again, into the reach of all Americans.
Yaron Brook is the executive director of the Ayn Rand Center for Individual Rights in Washington, D.C. ARC is a division of the Ayn Rand Institute and promotes Objectivism, the philosophy of Ayn Rand--author of Atlas Shrugged and The Fountainhead.
Showing posts with label unfree market. Show all posts
Showing posts with label unfree market. Show all posts
Saturday, August 1, 2009
Why Are We Moving Toward Socialized Medicine?
Thursday, July 30, 2009
Freedom: Our Protector
Something unfamiliar has descended on this nation. As Americans, it is a feeling we have never known. It is a fear of men.
Never has there been such an assault on people - as human beings - as we are experiencing now. The assault is coming from all sides at once. Every day there is a new assault.
The personification of this massive assault is President Obama. Behind him are all the men who seek new powers over us, who seek to force or profit from the force of our every action. Government men are leading the way. Businessmen and dependents of all kinds who want to use or have what they are handing out are standing in line to work with them. Whether by outright directive as in the forcing of banks to take government money; government orders and intrusions into their very hiring, firing and pay; stripping people of their lawful contracts, i.e., assets, and the risks and benefits associated with those contracts; or by telling you, directly or indirectly through taxation, what you can take into your body, be it nicotine or nourishment - everywhere, we live under the threat of moral directive and compulsion.
President Obama is working overtime to undermine every working relationship we have. He tells us that our doctors prescribe unneeded surgeries (I'm sure there are A FEW unscrupulous ones that do.) and prescribe the more expensive pills (Red or blue, I can't remember which.). He tells us to fear the cops when they come to our aid. He tells us that he knows or his young appointee knows how to run a car company. He does not stand up for people seeking freedom in foreign lands but instead plays buddy-buddy with the world's bloody-handed dictators. He forsakes our allies for the world's criminals. He wants to stunt our industry with pernicious and penalizing taxes on energy. He knows what people, especially cops, are thinking (and it's not good) even if they are not.
He seeks to turn black against white, customer against businessman, patient against doctor, investor against Wall Street, worker against management, citizen against cop, and government against the people.
There is one battle he will not allow - us against the government. But that one is coming whether he likes it or not.
And now he wants to be our doctor, our surgeon, and our nurse? On those days when we may be sick or hurting, we are going to be told to wait in line for weeks or months to get the attention and care we need and want, to perhaps save our lives. You will no longer be a patient. You will be a ward. As we see in Canada, a dog has better health care. The same will be true here unless Obama nationalizes animal care too.
If you want to see what your health care will be like under Obamacare, remember how he told you to save gas? That's right, blow up your tires. This past week when asked if an old woman with arrhythmia who has a good spirit should get a pacemaker, he suggested a painkiller. Jeez.
And if this weren't bad enough, he appoints czars with wild ideas such as "population needs to be controlled" if the earth is to live, and animals have rights and can sue humans. I didn't know they could speak, let alone read and write. Is it no wonder we are scared out of our wits?
Add to this his ingenuously telling us that when the government takes over health care, we will save money and the country will be running right once more, that no one will lose the health care they now have and that we will be as free as we have always been to conduct our lives. This we are to believe in the face of the fact that the government has run its health care programs into the ground and that all government health care plans the world over suffer from shortages and must ration their treatments and their time. Is it no wonder doctors and surgeons run from these Animal Farms?
Further he has gone abroad and apologized wholesale for America. Never has he said a good thing about us. When he mouths what America has stood for, it is obvious he lies insofar as his believing that it ever was a good thing. He wants positive rights, he says, knowing full well that he must enslave someone to provide them.
Obama doesn't know what it is to be an equal. Either he's on top or he's making sure he's lower than the king. Meet a man as an equal? Who ever heard of that? This is Obama's problem.
Government's hand is a dead hand - no vitality there - only laws, rules and regulations. You dutifully follow them, or else. Used correctly they support human life. Used as Obama wants to use them, they deaden and destroy it.
So far he has not be able to get us to march in lockstep, but he has his plans for that too: the Obama corps in the form of AmeriCorps. Already set up and being further formulated in the background, he wants to give students money to go to college. For that they will pay with X years of their lives in his corps. He says he wants this as well funded as America's military. Does anyone doubt that this will be an indoctrination machine? By all means, increase the deadness!
We are starting to get in spades that Freedom is Our Protector, and Obama is an enemy of freedom. By our minds and our choices, we sort the good from the bad - the good doctors from the bad doctors, the good teachers from the bad teachers, the good bankers from the bad bankers, the good businesses from the bad businesses, the good friends from the bad "friends" - you name it. Obama says that's bad. He wants to limit choices - outlaw them. Nowhere is this more obvious nor fundamentally destructive than in Government Health Care.
As an American, I have the right to my life, my liberty and my pursuit of happiness. I pursue my happiness by taking the property I own, starting with my own life - body and mind - and developing it and building it to provide for what I need. Seeking values is the essence of being alive. Political freedom is my only requirement.
Other Americans are not my enemies as Obama paints them - neither the doctors, the bankers, the car makers, the cops, the news organizations, the factory owners, the investors, the rich or the poor. All are available to talk to and work with if I need them and they provide what I need. They are the people I seek to meet and learn about so I may be able to satisfy my needs. Obama, on the other hand has turned the poor and the rich and the fat into parasites, the doctors and the bankers into predators and industry into plunderers. All are scapegoats. We are supposed to hate them. They are bad. Obama is no friend of America.
He's no friend of people anywhere. Although his outstretched hand may hold candy, his hidden hand holds a club.
Freedom is MY friend and protector.
Never has there been such an assault on people - as human beings - as we are experiencing now. The assault is coming from all sides at once. Every day there is a new assault.
The personification of this massive assault is President Obama. Behind him are all the men who seek new powers over us, who seek to force or profit from the force of our every action. Government men are leading the way. Businessmen and dependents of all kinds who want to use or have what they are handing out are standing in line to work with them. Whether by outright directive as in the forcing of banks to take government money; government orders and intrusions into their very hiring, firing and pay; stripping people of their lawful contracts, i.e., assets, and the risks and benefits associated with those contracts; or by telling you, directly or indirectly through taxation, what you can take into your body, be it nicotine or nourishment - everywhere, we live under the threat of moral directive and compulsion.
President Obama is working overtime to undermine every working relationship we have. He tells us that our doctors prescribe unneeded surgeries (I'm sure there are A FEW unscrupulous ones that do.) and prescribe the more expensive pills (Red or blue, I can't remember which.). He tells us to fear the cops when they come to our aid. He tells us that he knows or his young appointee knows how to run a car company. He does not stand up for people seeking freedom in foreign lands but instead plays buddy-buddy with the world's bloody-handed dictators. He forsakes our allies for the world's criminals. He wants to stunt our industry with pernicious and penalizing taxes on energy. He knows what people, especially cops, are thinking (and it's not good) even if they are not.
He seeks to turn black against white, customer against businessman, patient against doctor, investor against Wall Street, worker against management, citizen against cop, and government against the people.
There is one battle he will not allow - us against the government. But that one is coming whether he likes it or not.
And now he wants to be our doctor, our surgeon, and our nurse? On those days when we may be sick or hurting, we are going to be told to wait in line for weeks or months to get the attention and care we need and want, to perhaps save our lives. You will no longer be a patient. You will be a ward. As we see in Canada, a dog has better health care. The same will be true here unless Obama nationalizes animal care too.
If you want to see what your health care will be like under Obamacare, remember how he told you to save gas? That's right, blow up your tires. This past week when asked if an old woman with arrhythmia who has a good spirit should get a pacemaker, he suggested a painkiller. Jeez.
And if this weren't bad enough, he appoints czars with wild ideas such as "population needs to be controlled" if the earth is to live, and animals have rights and can sue humans. I didn't know they could speak, let alone read and write. Is it no wonder we are scared out of our wits?
Add to this his ingenuously telling us that when the government takes over health care, we will save money and the country will be running right once more, that no one will lose the health care they now have and that we will be as free as we have always been to conduct our lives. This we are to believe in the face of the fact that the government has run its health care programs into the ground and that all government health care plans the world over suffer from shortages and must ration their treatments and their time. Is it no wonder doctors and surgeons run from these Animal Farms?
Further he has gone abroad and apologized wholesale for America. Never has he said a good thing about us. When he mouths what America has stood for, it is obvious he lies insofar as his believing that it ever was a good thing. He wants positive rights, he says, knowing full well that he must enslave someone to provide them.
Obama doesn't know what it is to be an equal. Either he's on top or he's making sure he's lower than the king. Meet a man as an equal? Who ever heard of that? This is Obama's problem.
Government's hand is a dead hand - no vitality there - only laws, rules and regulations. You dutifully follow them, or else. Used correctly they support human life. Used as Obama wants to use them, they deaden and destroy it.
So far he has not be able to get us to march in lockstep, but he has his plans for that too: the Obama corps in the form of AmeriCorps. Already set up and being further formulated in the background, he wants to give students money to go to college. For that they will pay with X years of their lives in his corps. He says he wants this as well funded as America's military. Does anyone doubt that this will be an indoctrination machine? By all means, increase the deadness!
We are starting to get in spades that Freedom is Our Protector, and Obama is an enemy of freedom. By our minds and our choices, we sort the good from the bad - the good doctors from the bad doctors, the good teachers from the bad teachers, the good bankers from the bad bankers, the good businesses from the bad businesses, the good friends from the bad "friends" - you name it. Obama says that's bad. He wants to limit choices - outlaw them. Nowhere is this more obvious nor fundamentally destructive than in Government Health Care.
As an American, I have the right to my life, my liberty and my pursuit of happiness. I pursue my happiness by taking the property I own, starting with my own life - body and mind - and developing it and building it to provide for what I need. Seeking values is the essence of being alive. Political freedom is my only requirement.
Other Americans are not my enemies as Obama paints them - neither the doctors, the bankers, the car makers, the cops, the news organizations, the factory owners, the investors, the rich or the poor. All are available to talk to and work with if I need them and they provide what I need. They are the people I seek to meet and learn about so I may be able to satisfy my needs. Obama, on the other hand has turned the poor and the rich and the fat into parasites, the doctors and the bankers into predators and industry into plunderers. All are scapegoats. We are supposed to hate them. They are bad. Obama is no friend of America.
He's no friend of people anywhere. Although his outstretched hand may hold candy, his hidden hand holds a club.
Freedom is MY friend and protector.
Wednesday, July 29, 2009
The Killer Wedge
At the Moment of Vulnerability
Right now, this Obama Administration is working overtime to pass Government Health Care. What it seeks to do is become the health provider for the nation. What this means is:
YOU CANNOT FIRE YOUR DOCTOR.
You cannot choose your doctor, except for superficial characteristics; you can go nowhere except to government clinics and health facilities. This is the end of you as an independent human being - and right at the moment when you need to have safeguarded your independence the most - when you are the most vulnerable. This is what Government Health Care means.
Only one other time has this country engaged in this kind of activity. That was the institution of slavery. A slave could not fire his employer. He could not go elsewhere to find a place to work.
Above all else, this is the principle that MUST NOT get refastened onto the American people.
And it is not just you the citizen that is the slave. So long as a human being wants to practice in any aspect of the medical industry, (doctors, nurses, hospitals, pharmacists, drug developers and producers, alternate forms of health care provision, emergency crews) he must work for the government or leave the country. Otherwise, he must leave this industry. Ultimately these are his only choices under Government Health Care. Runarounds and a black market will be against the law.
This is as evil as anyone can get when it comes to social life for human beings. This is a moral issue and nothing more.
Notice how many people are talking about the best way to create the program and how much it will cost as if the basic premise of slavery is quite all right. No one is talking about the basic issue. Even those who should know better than anyone what slavery is - and I am talking about the American black in particular - are looking at the "candy" in the hand of the politician rather than the club behind his back.
These men offering this "candy" are Barack Obama and all of his Administration, Nancy Pelosi, Teddy Kennedy, and a host of other politicians - liberal and conservative. It also includes corporations and their lobbyists who are trying to get in early on the game to provide the products that the government will need in its programs. They all need to be fought. The very idea of human bondage must be fought root and branch.
Obama has a Science Czar, John Holdren, who is on record with some very draconian methods of population control, wanting to reduce it to below replacement levels and advocating sterilizing men as the means. He has a Regulatory Czar, Cass Sunstein, who believes in "Nudging" people into the right behavior via taxation.
I'm telling you, this is no different than the Progressives of the past. Their mission has always been to "improve" society by force. In the early 1900's, eugenics was their call as the means to this end. (The wildest of that advocacy was Nazi Germany.) Now it is what is called "nudging" - a program of taxation that discourages particular behaviors and fosters others. They think they can use FORCE, the law with taxes, fines and prison in the background, with a smile on their face and righteousness in their heart.
They are wrong. To force a "choice" is to obviate man's possession of volition - the capacity to choose. This negates his humanity at the root. No longer is he able to pursue values, reap the consequences and correct or continue his course of action. Good and bad no longer apply to one forced. Since he had to do it, all he can provide are excuses. He's powerless. Force misapplied by anyone, but above all the institution of government is a primary cause of social deterioration. It negates the mind and the pursuit of values. It kills human life.
I offer Government Education as a prime example. Compelling students to learn is not the same thing as showing that learning is a value to be pursued. Force and enrollment, the presentation of a possibility and its value so one can choose it or not, are opposites. Anyone who wants learning via enrollment, as opposed to indoctrination, has to provide it himself.
As an architect, I know what force is. Before Handicap Access became the law of the land and when I was in architecture school, books on handicap access were everywhere. If one had a client who wanted handicap access, one learned how to best provide it. There were many possibilities and there was much competition regarding solutions to various problems.
Once Handicap Access became law, the building code reduced all of this to a single section with rules and layouts. The investigation and search for better means not only for access but for handicap mobility largely ended.
When handicap access was just beginning, I had a doctor client who had need for it in his office. This was a remodel project and there was a bathroom present. The question arose as to whether a handicapped person could use the bathroom. I rented a wheelchair and investigated the matter for myself. I then took the results of my study and my solution to the building department and they were quite happy to approve it given that I actually knew how it was going to work.
Today that is impossible. Now with the rigid codification of everything regarding Handicap Access, it is way too costly to go after a better solution. Who wants get a variance with all that entails and/or go before a board to fight for something that may not be approved even if it works. Better to just do what the code says and be done with it. As a consequence, we see the repetition of the same plans over and over.
Further, rather than business who want to appeal to the handicapped offering the benefits of their facilities as an attraction for customers that they want and appreciate, all business and public buildings must provide the access whether they will ever need it. This results in a huge expense where not needed and deprives the business who welcome the handicapped to show that they welcome them. All of this is how society becomes gutted of its differentiation, values, and even beauty and charm. So much for the government and its influence.
Needless to say all of the innovation regarding handicap access has dried up. It doesn't exist. There is no longer any excitement around the subject.
And this is exactly where Government Health Care is headed but with a far worse aspect. You will be the government's slave unable to exercise your own mind and your own free will, the two fundamental aspects of remaining fully human. And this relative to the most personal aspect of yourself - your body.
One further note. Already, we are seeing the inhumanity in which the government will indulge itself to effect its programs. Here is an article entitled, Tough Love for Fat People. Because our society is unwilling to allow people to experience the consequences of their actions, most Washington voices think there is no choice but to coerce their behavior. The new scapegoats are going to be fat people - and, of course, smokers. Where are the articles on drug users, alcohol drinkers, and all the other things that people use to excess? What about those who binge on sugar? Or those who eat only protein? Or those who exercise to the point of hurting their bodies? You name it. Is this the direction you want society to head?
If not, you had better get on your high horse and soapbox. Government Health Care is the killer wedge on this matter.
Doesn't sound like a group of people I want to live around. See my previous post.
Right now, this Obama Administration is working overtime to pass Government Health Care. What it seeks to do is become the health provider for the nation. What this means is:
YOU CANNOT FIRE YOUR DOCTOR.
You cannot choose your doctor, except for superficial characteristics; you can go nowhere except to government clinics and health facilities. This is the end of you as an independent human being - and right at the moment when you need to have safeguarded your independence the most - when you are the most vulnerable. This is what Government Health Care means.
Only one other time has this country engaged in this kind of activity. That was the institution of slavery. A slave could not fire his employer. He could not go elsewhere to find a place to work.
Above all else, this is the principle that MUST NOT get refastened onto the American people.
And it is not just you the citizen that is the slave. So long as a human being wants to practice in any aspect of the medical industry, (doctors, nurses, hospitals, pharmacists, drug developers and producers, alternate forms of health care provision, emergency crews) he must work for the government or leave the country. Otherwise, he must leave this industry. Ultimately these are his only choices under Government Health Care. Runarounds and a black market will be against the law.
This is as evil as anyone can get when it comes to social life for human beings. This is a moral issue and nothing more.
Notice how many people are talking about the best way to create the program and how much it will cost as if the basic premise of slavery is quite all right. No one is talking about the basic issue. Even those who should know better than anyone what slavery is - and I am talking about the American black in particular - are looking at the "candy" in the hand of the politician rather than the club behind his back.
These men offering this "candy" are Barack Obama and all of his Administration, Nancy Pelosi, Teddy Kennedy, and a host of other politicians - liberal and conservative. It also includes corporations and their lobbyists who are trying to get in early on the game to provide the products that the government will need in its programs. They all need to be fought. The very idea of human bondage must be fought root and branch.
Obama has a Science Czar, John Holdren, who is on record with some very draconian methods of population control, wanting to reduce it to below replacement levels and advocating sterilizing men as the means. He has a Regulatory Czar, Cass Sunstein, who believes in "Nudging" people into the right behavior via taxation.
I'm telling you, this is no different than the Progressives of the past. Their mission has always been to "improve" society by force. In the early 1900's, eugenics was their call as the means to this end. (The wildest of that advocacy was Nazi Germany.) Now it is what is called "nudging" - a program of taxation that discourages particular behaviors and fosters others. They think they can use FORCE, the law with taxes, fines and prison in the background, with a smile on their face and righteousness in their heart.
They are wrong. To force a "choice" is to obviate man's possession of volition - the capacity to choose. This negates his humanity at the root. No longer is he able to pursue values, reap the consequences and correct or continue his course of action. Good and bad no longer apply to one forced. Since he had to do it, all he can provide are excuses. He's powerless. Force misapplied by anyone, but above all the institution of government is a primary cause of social deterioration. It negates the mind and the pursuit of values. It kills human life.
I offer Government Education as a prime example. Compelling students to learn is not the same thing as showing that learning is a value to be pursued. Force and enrollment, the presentation of a possibility and its value so one can choose it or not, are opposites. Anyone who wants learning via enrollment, as opposed to indoctrination, has to provide it himself.
As an architect, I know what force is. Before Handicap Access became the law of the land and when I was in architecture school, books on handicap access were everywhere. If one had a client who wanted handicap access, one learned how to best provide it. There were many possibilities and there was much competition regarding solutions to various problems.
Once Handicap Access became law, the building code reduced all of this to a single section with rules and layouts. The investigation and search for better means not only for access but for handicap mobility largely ended.
When handicap access was just beginning, I had a doctor client who had need for it in his office. This was a remodel project and there was a bathroom present. The question arose as to whether a handicapped person could use the bathroom. I rented a wheelchair and investigated the matter for myself. I then took the results of my study and my solution to the building department and they were quite happy to approve it given that I actually knew how it was going to work.
Today that is impossible. Now with the rigid codification of everything regarding Handicap Access, it is way too costly to go after a better solution. Who wants get a variance with all that entails and/or go before a board to fight for something that may not be approved even if it works. Better to just do what the code says and be done with it. As a consequence, we see the repetition of the same plans over and over.
Further, rather than business who want to appeal to the handicapped offering the benefits of their facilities as an attraction for customers that they want and appreciate, all business and public buildings must provide the access whether they will ever need it. This results in a huge expense where not needed and deprives the business who welcome the handicapped to show that they welcome them. All of this is how society becomes gutted of its differentiation, values, and even beauty and charm. So much for the government and its influence.
Needless to say all of the innovation regarding handicap access has dried up. It doesn't exist. There is no longer any excitement around the subject.
And this is exactly where Government Health Care is headed but with a far worse aspect. You will be the government's slave unable to exercise your own mind and your own free will, the two fundamental aspects of remaining fully human. And this relative to the most personal aspect of yourself - your body.
One further note. Already, we are seeing the inhumanity in which the government will indulge itself to effect its programs. Here is an article entitled, Tough Love for Fat People. Because our society is unwilling to allow people to experience the consequences of their actions, most Washington voices think there is no choice but to coerce their behavior. The new scapegoats are going to be fat people - and, of course, smokers. Where are the articles on drug users, alcohol drinkers, and all the other things that people use to excess? What about those who binge on sugar? Or those who eat only protein? Or those who exercise to the point of hurting their bodies? You name it. Is this the direction you want society to head?
If not, you had better get on your high horse and soapbox. Government Health Care is the killer wedge on this matter.
Doesn't sound like a group of people I want to live around. See my previous post.
Sunday, July 19, 2009
Destroy the Economy to Save the Economy
Biden is explicit about it.
Where are the intelligent? Where are those that understand that the economy is an integrated whole? Where are those that understand that money stolen from those who have it and given to those who don't does not put money in the hands of the creators of businesses and jobs? Why is there so much emphasis put on the destruction of wealth and none on the principles to be be followed in order to create it?
Is this stupidity or intended? And who should pay rather than who will pay for this reversal of cause and effect?
Where are the intelligent? Where are those that understand that the economy is an integrated whole? Where are those that understand that money stolen from those who have it and given to those who don't does not put money in the hands of the creators of businesses and jobs? Why is there so much emphasis put on the destruction of wealth and none on the principles to be be followed in order to create it?
Is this stupidity or intended? And who should pay rather than who will pay for this reversal of cause and effect?
Will someone please tell me where this has ever worked?
S e a of D e b tTuesday, July 14, 2009
Are You Crazy?
Have Americans completely lost their minds?
America is the best producer of goods and services the world has ever known. Right now it has the best Health Care available for the most citizens of any place in the world. It produces more procedures and medicines and has more facilities to cure or ameliorate the ailments of mankind than anyplace else. There are some problems, but a poor person is rich in America compared to the poor around the world.
And you want to trade that for someone telling you what, how much and who you can go to for your health care? ARE YOU NUTS?
Every place that has GOVERNMENT Health Care must, by necessity, move to the lowest common denominator of health care. The GOVERNMENT harnesses, i.e., ENSLAVES, the doctors and all others in the system by refusing to pay them what they want and would otherwise get in a free market. The best ones leave the business. It controls the pharmaceutical industry and pharmaceutical research so that you get what the GOVERNMENT wants to pass out. It controls the hospitals, it controls the nurses, it controls the ambulance services, it controls every bit and piece of an otherwise complex system with abundant options and practices. It chokes, i.e., asphyxiates, i.e., takes the breath of life away from every doctor, every nurse, every office, every prescription and drug producer, every ambulance service, every person in the industry with paperwork.
And for that reason it will kill people too. Yes, I said kill them - by deprivation, by neglect, by policies which will follow the book, not the needs of the patient.
It will destroy the doctor - patient relationship. You will be a cipher, not a person.
Because the demand for Health Care will go through the roof because it is FREE, which it isn’t, it will be rationed. You will not be able to get the very thing that may save your life. You will have to wait too long or it won’t be available. What you will get are excuses and delays and government policies. None of these will do a damn thing for you!
In the scarcity of Health Care that will be CAUSED by THE GOVERNMENT, guess who will be selected to suffer this scarcity the most? The old, the infirm, the handicapped – anyone who is determined by THE GOVERNMENT to not be in the mainstream of productive citizens doing the work that the GOVERNMENT considers valuable. Of course they will never say that. It will just happen by default. Since you do not get to choose your health care, the GOVERNMENT will make the decisions. And they don't know if you are a genius or an idiot, a producer or a moocher. Why would a bureaucrat care about those things that are not reflected in their numbers? There is no other possibility.
And because Health Care will be costly and scarce, you will be regulated regarding your own life. If you eat a Twinkie, followed to its ultimate conclusion, you will violate the law, can be fined or taken to jail or simply spurned. If you smoke a cigarette, you will violate the law and can be fined or taken to jail or refused treatment. You will be required to diet, to exercise, to sleep the right number of hours, to eat the right things, drink the right things, everything that THE GOVERNMENT says, by fiat, you must do to obtain its health care. It will use ladles of guilt and post millions of banners and signs that no one reads about how you are a good boy if you follow their instructions. It won't be like that you say? Not immediately, but the pressure will always be in that direction.
And have you seen the GOVERNMENT’S health care facilities? Take a look at the public facilities they have now. Go to your county health department’s waiting room, get in line in a dingy shabby room painted institution green and see how you like it. Or go to the veterans hospitals and watch the tired nurses, who will be on a GOVERNMENT pay scale along with the doctors and secretaries and all the other employees, complain about their job. Or go to the big public hospitals where you wonder why it is not as clean as your home?
When the GOVERNMENT controls everything, there won’t even be the attraction of security that the GOVERNMENT offers to its employees. With everyone employed by the GOVERNMENT that distinction won’t exist. It will be all about we HAVE TO. Whining will be elevated to an art form. This is the result of having no choice.
And are you aware that regimentation via GOVERNMENT control causes stupidity? If you don't think the I-don't-care attitude of government workers will not spill over into their care, you are really crazy. Livers will be accidentally removed, a wrong leg will be amputated, the anesthesiologist will accidentally kill your loved one instead of anesthetizing them. Simple procedures will become complicated and complicated ones will be incorrectly made simple. Instead of keeping their mind on the business at hand they will be thinking about their latest tweet or when they can get back to Facebook.
Here's a video interviewing ordinary people in Canada about their healthcare. And here is an interview with someone who lived under England's single-payer health care system. They don't even get Novocaine when their teeth are drilled.
This is your future. Are you willing to trade the riches that a free system which encourages superb service and good care in order to attract business FOR THIS? What are you thinking?
People do not get that Universal Health Care is a DIRECT ATTACK on them as human being. It attacks everything that gives rise to being human: your valuing nature as such, your particular values, your mind, your reason, your life and those you care about.
An American watching the above video can see how Canadians are no longer people in the full sense of the word. They have given up. They have ACCEPTED the system, its craziness, and their plight. They make excuses for it. Most Americans I know would have said, "Enough of this horseshit. I'm going some place else!"
ARE YOU CRAZY?
Health care is too costly, you say?
Then free it up. Allow more competition, not less. Allow it to meet more needs at all levels instead of less. Already health care is bound hand and foot with regulations that are completely unnecessary. I don’t remember anyone complaining about health care 60 years ago. You had the doctor you trusted and you went to him if you had a problem. You worked out the cost and paid it. Insurance was varied and available at any level you wanted it. If you want better and less costly health care, FREE IT UP! Freedom is the answer, not GOVERNMENT control and regulation.
Here is a conversation about getting the GOVERNMENT out of the way.
Freedom has always been the answer. It unleashes the human engine that produces a torrent of goods and services. It unleashes the ideas and production of the best minds as well as the lesser ones. It unleashes the entrepreneur. There is no waiting in freedom. If you want it, you think about it, you work for it and you pay for it. If you don’t want it, you don’t.
I can’t believe that people are willing to trade abundance for poverty, pennies for the gold they now have and could have more of. But apparently they are about to do so. What has gotten hold of you? Are we now to wear hair shirts for no reason except to prove we are suffering? Are the Liberals, the Progressives, among us as unenlightened as medieval Christians? We have to be gripped by some vast superstition.
When Obama, Reid and Pelosi give up their special government health care program and go stand in line in Canada as an ordinary citizen, I will believe they have something other than pure lies to say to us.
ARE YOU CRAZY?
STOP RIGHT NOW, AMERICA.
WAKE UP!
CALL AND WRITE YOUR CONGRESSMAN AND THE PRESIDENT NOW. NO UNIVERSAL HEALTH CARE. ABSOLUTELY - NO! NO! NO!
ARE YOU CRAZY?
America is the best producer of goods and services the world has ever known. Right now it has the best Health Care available for the most citizens of any place in the world. It produces more procedures and medicines and has more facilities to cure or ameliorate the ailments of mankind than anyplace else. There are some problems, but a poor person is rich in America compared to the poor around the world.
And you want to trade that for someone telling you what, how much and who you can go to for your health care? ARE YOU NUTS?
Every place that has GOVERNMENT Health Care must, by necessity, move to the lowest common denominator of health care. The GOVERNMENT harnesses, i.e., ENSLAVES, the doctors and all others in the system by refusing to pay them what they want and would otherwise get in a free market. The best ones leave the business. It controls the pharmaceutical industry and pharmaceutical research so that you get what the GOVERNMENT wants to pass out. It controls the hospitals, it controls the nurses, it controls the ambulance services, it controls every bit and piece of an otherwise complex system with abundant options and practices. It chokes, i.e., asphyxiates, i.e., takes the breath of life away from every doctor, every nurse, every office, every prescription and drug producer, every ambulance service, every person in the industry with paperwork.
And for that reason it will kill people too. Yes, I said kill them - by deprivation, by neglect, by policies which will follow the book, not the needs of the patient.
It will destroy the doctor - patient relationship. You will be a cipher, not a person.
Because the demand for Health Care will go through the roof because it is FREE, which it isn’t, it will be rationed. You will not be able to get the very thing that may save your life. You will have to wait too long or it won’t be available. What you will get are excuses and delays and government policies. None of these will do a damn thing for you!
In the scarcity of Health Care that will be CAUSED by THE GOVERNMENT, guess who will be selected to suffer this scarcity the most? The old, the infirm, the handicapped – anyone who is determined by THE GOVERNMENT to not be in the mainstream of productive citizens doing the work that the GOVERNMENT considers valuable. Of course they will never say that. It will just happen by default. Since you do not get to choose your health care, the GOVERNMENT will make the decisions. And they don't know if you are a genius or an idiot, a producer or a moocher. Why would a bureaucrat care about those things that are not reflected in their numbers? There is no other possibility.
And because Health Care will be costly and scarce, you will be regulated regarding your own life. If you eat a Twinkie, followed to its ultimate conclusion, you will violate the law, can be fined or taken to jail or simply spurned. If you smoke a cigarette, you will violate the law and can be fined or taken to jail or refused treatment. You will be required to diet, to exercise, to sleep the right number of hours, to eat the right things, drink the right things, everything that THE GOVERNMENT says, by fiat, you must do to obtain its health care. It will use ladles of guilt and post millions of banners and signs that no one reads about how you are a good boy if you follow their instructions. It won't be like that you say? Not immediately, but the pressure will always be in that direction.
And have you seen the GOVERNMENT’S health care facilities? Take a look at the public facilities they have now. Go to your county health department’s waiting room, get in line in a dingy shabby room painted institution green and see how you like it. Or go to the veterans hospitals and watch the tired nurses, who will be on a GOVERNMENT pay scale along with the doctors and secretaries and all the other employees, complain about their job. Or go to the big public hospitals where you wonder why it is not as clean as your home?
When the GOVERNMENT controls everything, there won’t even be the attraction of security that the GOVERNMENT offers to its employees. With everyone employed by the GOVERNMENT that distinction won’t exist. It will be all about we HAVE TO. Whining will be elevated to an art form. This is the result of having no choice.
And are you aware that regimentation via GOVERNMENT control causes stupidity? If you don't think the I-don't-care attitude of government workers will not spill over into their care, you are really crazy. Livers will be accidentally removed, a wrong leg will be amputated, the anesthesiologist will accidentally kill your loved one instead of anesthetizing them. Simple procedures will become complicated and complicated ones will be incorrectly made simple. Instead of keeping their mind on the business at hand they will be thinking about their latest tweet or when they can get back to Facebook.
Here's a video interviewing ordinary people in Canada about their healthcare. And here is an interview with someone who lived under England's single-payer health care system. They don't even get Novocaine when their teeth are drilled.
This is your future. Are you willing to trade the riches that a free system which encourages superb service and good care in order to attract business FOR THIS? What are you thinking?
People do not get that Universal Health Care is a DIRECT ATTACK on them as human being. It attacks everything that gives rise to being human: your valuing nature as such, your particular values, your mind, your reason, your life and those you care about.
An American watching the above video can see how Canadians are no longer people in the full sense of the word. They have given up. They have ACCEPTED the system, its craziness, and their plight. They make excuses for it. Most Americans I know would have said, "Enough of this horseshit. I'm going some place else!"
ARE YOU CRAZY?
Health care is too costly, you say?
Then free it up. Allow more competition, not less. Allow it to meet more needs at all levels instead of less. Already health care is bound hand and foot with regulations that are completely unnecessary. I don’t remember anyone complaining about health care 60 years ago. You had the doctor you trusted and you went to him if you had a problem. You worked out the cost and paid it. Insurance was varied and available at any level you wanted it. If you want better and less costly health care, FREE IT UP! Freedom is the answer, not GOVERNMENT control and regulation.
Here is a conversation about getting the GOVERNMENT out of the way.
Freedom has always been the answer. It unleashes the human engine that produces a torrent of goods and services. It unleashes the ideas and production of the best minds as well as the lesser ones. It unleashes the entrepreneur. There is no waiting in freedom. If you want it, you think about it, you work for it and you pay for it. If you don’t want it, you don’t.
I can’t believe that people are willing to trade abundance for poverty, pennies for the gold they now have and could have more of. But apparently they are about to do so. What has gotten hold of you? Are we now to wear hair shirts for no reason except to prove we are suffering? Are the Liberals, the Progressives, among us as unenlightened as medieval Christians? We have to be gripped by some vast superstition.
When Obama, Reid and Pelosi give up their special government health care program and go stand in line in Canada as an ordinary citizen, I will believe they have something other than pure lies to say to us.
ARE YOU CRAZY?
STOP RIGHT NOW, AMERICA.
WAKE UP!
CALL AND WRITE YOUR CONGRESSMAN AND THE PRESIDENT NOW. NO UNIVERSAL HEALTH CARE. ABSOLUTELY - NO! NO! NO!
ARE YOU CRAZY?
Friday, July 10, 2009
A Cartoon from 1934
Chicago Tribune
1934
Those unwilling to learn the lessons of the past
are condemned to repeat them.
are condemned to repeat them.
An economic bubble takes an average of two years to correct itself - with one requirement: that the economy is free to make the correction. In the 30s, that correction was stretched to 10 years and even then it was not in the process of correcting itself. It was the war that drafted the unemployed (many to their death) and put the women and old folks to work.
A free economy designs itself to provide whatever the people in the economy need and are willing to work for. It is constantly correcting itself unless the government intervenes and thwarts the corrective process - the mechanism that led to the crash in 1929 and the collapse in 2008 as well as other bubbles between those times. The rational government action is to cut spending, get rid of onerous and irrational regulations, and sell off assets, all in order to lower taxes so that people can use their resources for productive effort. No one, including the individual, the county, the state or the country, can borrow and spend their way out of lost income. The way out is to create and produce some value that one can live on, either directly or through exchange with other people for the things one needs. Political freedom, including economic freedom, is the underlying requirement for this to occur.
Ask yourself: Is this happening now? If not, why not? And the answer is somewhat different than it was in the 30s. Then socialism was an erroneous, but inspired ideal. Its failure was not perceived until the fall of the Berlin Wall whereupon the whole world could see the utter poverty, the imprisoned and tortured people who didn't agree with the system, the starving of millions and the massive waste of resources - all caused by government planning and control. Given that socialism is a failure, what is different now? The motive? Looks like it could be. So, what is the motive now?
Hint: The Greater Good is not the motive. That is the cover, the drapes that soften the window so the unvarnished truth is not realized.
Think about it.
A free economy designs itself to provide whatever the people in the economy need and are willing to work for. It is constantly correcting itself unless the government intervenes and thwarts the corrective process - the mechanism that led to the crash in 1929 and the collapse in 2008 as well as other bubbles between those times. The rational government action is to cut spending, get rid of onerous and irrational regulations, and sell off assets, all in order to lower taxes so that people can use their resources for productive effort. No one, including the individual, the county, the state or the country, can borrow and spend their way out of lost income. The way out is to create and produce some value that one can live on, either directly or through exchange with other people for the things one needs. Political freedom, including economic freedom, is the underlying requirement for this to occur.
Ask yourself: Is this happening now? If not, why not? And the answer is somewhat different than it was in the 30s. Then socialism was an erroneous, but inspired ideal. Its failure was not perceived until the fall of the Berlin Wall whereupon the whole world could see the utter poverty, the imprisoned and tortured people who didn't agree with the system, the starving of millions and the massive waste of resources - all caused by government planning and control. Given that socialism is a failure, what is different now? The motive? Looks like it could be. So, what is the motive now?
Hint: The Greater Good is not the motive. That is the cover, the drapes that soften the window so the unvarnished truth is not realized.
Think about it.
Thursday, July 9, 2009
A Citizen's Letter to Her Senator
E. Let us not forget the examples of a not so distant past that illustrate very well the efficiency of free markets and the wastefulness and inefficiency of a controlled economy.
The Soviet Union, one of the greatest empires in the world, collapsed mostly due to economic reasons, due to the inability of the government to predict and control supply and demand or efficiently launch and promote innovations. I myself came from that unfortunate country to the United States in search of freedom, and it horrifies me to see my new home repeating the mistakes of my old one and slipping into the abyss of socialism. You don’t need terrorists or nuclear weapons to destroy a free country. All you have to do is to make the people of a free country embrace socialism and they will destroy themselves and their country.
If we look back at the history of the United States, in the 19th century we see how much private initiative had to do with real progress and technological advances, especially in the energy market. In the 19th century our energy market was developing, as Alex Epstein put it so well, literally with the speed of thought. A new idea was tried as soon as it was thought of, because there were no obstacles in the form of government regulations.
Back then people were afraid that as soon as they ran out of coal they would be doomed. There were many so called scientists and analysts trying to predict the end of the world due to the limited amount of resources. If back then the US government had stepped in and monopolized the energy market and had tried to regulate coal distribution and the production of candles and lighting oils, we would all still live in the dark ages. Yet we were lucky, because that was the time of truly free markets, and in search of profit many innovators came up with the ideas of how to use oil. Those ideas changed history, and we leaped into a new more advanced era because we had oil and knew how to use it.
Do not forget that before oil and before coal people had to use wood. And then coal was a major discovery. What if back then the governments tried to regulate wood distribution and stifled any new ideas about alternative sources of energy like coal?
And by the way, carbon dioxide is not a threat. Oceans produce more carbon dioxide than all humans together. CO2 is required for life and in different historic periods more CO2 usually meant more vegetation and more prosperity. And it is not a general consensus of the scientists that the Earth is warming, in fact there is new data that the Earth is actually cooling, One of the EPA scientists, Alan Carlin, tried to express these ideas to his superiors. However this information was suppressed. Doesn’t it look like a conspiracy directed to destroying the USA's independence and competitiveness? Here is an excerpt from the interview with Alan Carlin.
How about instead of regulating our energy sector the government deregulated it? What if we gave the initiative back to private entrepreneurs? Private businesses are always in search of profit and a competitive edge. If we get to the point where oil is no longer viable, the one who finds a better, cheaper and more efficient alternative source of energy will not only beat their competitors but solve another energy crisis problem for the rest of mankind.
A free human mind is always in search of solutions to problems. An enslaved human mind does not function that way. You may force slaves to do physical labor, but you can’t force a slave’s mind to work. It will always be inferior to the mind of a free man. American inventors have always been on top of the world precisely because they were free not only to come up with new ideas, but also to profit from them. No matter how many great scientists worked in the Soviet labor camps, American scientists could always beat them because they were free.
The Cap and Trade bill will enslave American scientists to a predetermined government-controlled paradigm. Instead of being truly free to exercise their minds and harvest the fruits of their labor, they will have to struggle through a limited amount of alternative energy choices (most of which are not economically viable) in their government-created jobs.
How much efficiency do you expect from that? Are you so naïve that you truly believe that this kind of arrangement can help America solve her energy problems? I fear that if we stifle the human mind, if we rob private companies of their profits in order to invest in dubious government enterprises, if we impoverish people through higher taxes and prices in order to force them to convert to more expensive and less efficient sources of energy, we will create more problems than we are now hoping to solve. It will put this country at a huge disadvantage compared to what is possible and to other countries. And what is worse than that is we will destroy private innovation that has always been a source of American wealth and prosperity.
Please, stop and think twice before you vote for any bill (this or any other) that will put private America in government chains. I believe that there are many other Americans who write petitions to you asking to support things like Cap and Trade or public healthcare. You have to remember that any such initiative will enslave one part of the population in order to serve the other part of the population. This is exactly the kind of democracy that our Founding Fathers were warning us against. When two wolves and a sheep decide what is for lunch the outcome is predictable. This country is a republic based on the rule of Law not the mob, and the Supreme Law of this country is the Constitution of the United States.
You have all taken an oath to uphold and protect the Constitution of the United States, and these kinds of bills are in complete violation of this monumental document. Stop thinking that more government is the solution to our problems. Stop thinking that you can please the ignorant masses by giving in to their irrational desires while violating the Constitution and the rights of the minorities, with the smallest minority being an individual. Don’t repeat the mistakes of the Soviets. More government is the problem that is now leading America on this path to nowhere.
Take a stand for freedom, this is what all free Americans expect from you. Don’t sacrifice the American principles for the sake of keeping your seat in Congress. You have to care about justice - an authentic justice based in reality, not some idea that does not work and makes no sense. You have to care about freedom and principles. You have to care about the real values that this country is based on, even if the majority sometimes thinks otherwise.
Remember it was not the majority that founded this country and its laws. It was not the majority that made this country great. It will never be the majority!
You have to take a stand. Simply voting or not voting is not enough anymore. You have to take a real stand for protection of the Constitution of the United States, for protection of the American principles and values. You have to take a real stand for the protection of individual rights. These rights do not include a free house, or a guaranteed job, or free healthcare. You have to take a stand and make yourself heard, so that others can join you! We have to save this country and what you are doing now is not helping this cause. You have to take a stand for what is right, not for what is required by the expediency of the moment!
We The People of this great country, the United States of America, are watching you!
Elena Carter
[Elena is a Russian translator and a co-owner of a fitness facility, East Cobb Exercise Excellence in Marietta, GA.]
The Soviet Union, one of the greatest empires in the world, collapsed mostly due to economic reasons, due to the inability of the government to predict and control supply and demand or efficiently launch and promote innovations. I myself came from that unfortunate country to the United States in search of freedom, and it horrifies me to see my new home repeating the mistakes of my old one and slipping into the abyss of socialism. You don’t need terrorists or nuclear weapons to destroy a free country. All you have to do is to make the people of a free country embrace socialism and they will destroy themselves and their country.
If we look back at the history of the United States, in the 19th century we see how much private initiative had to do with real progress and technological advances, especially in the energy market. In the 19th century our energy market was developing, as Alex Epstein put it so well, literally with the speed of thought. A new idea was tried as soon as it was thought of, because there were no obstacles in the form of government regulations.
Back then people were afraid that as soon as they ran out of coal they would be doomed. There were many so called scientists and analysts trying to predict the end of the world due to the limited amount of resources. If back then the US government had stepped in and monopolized the energy market and had tried to regulate coal distribution and the production of candles and lighting oils, we would all still live in the dark ages. Yet we were lucky, because that was the time of truly free markets, and in search of profit many innovators came up with the ideas of how to use oil. Those ideas changed history, and we leaped into a new more advanced era because we had oil and knew how to use it.
Do not forget that before oil and before coal people had to use wood. And then coal was a major discovery. What if back then the governments tried to regulate wood distribution and stifled any new ideas about alternative sources of energy like coal?
And by the way, carbon dioxide is not a threat. Oceans produce more carbon dioxide than all humans together. CO2 is required for life and in different historic periods more CO2 usually meant more vegetation and more prosperity. And it is not a general consensus of the scientists that the Earth is warming, in fact there is new data that the Earth is actually cooling, One of the EPA scientists, Alan Carlin, tried to express these ideas to his superiors. However this information was suppressed. Doesn’t it look like a conspiracy directed to destroying the USA's independence and competitiveness? Here is an excerpt from the interview with Alan Carlin.
How about instead of regulating our energy sector the government deregulated it? What if we gave the initiative back to private entrepreneurs? Private businesses are always in search of profit and a competitive edge. If we get to the point where oil is no longer viable, the one who finds a better, cheaper and more efficient alternative source of energy will not only beat their competitors but solve another energy crisis problem for the rest of mankind.
A free human mind is always in search of solutions to problems. An enslaved human mind does not function that way. You may force slaves to do physical labor, but you can’t force a slave’s mind to work. It will always be inferior to the mind of a free man. American inventors have always been on top of the world precisely because they were free not only to come up with new ideas, but also to profit from them. No matter how many great scientists worked in the Soviet labor camps, American scientists could always beat them because they were free.
The Cap and Trade bill will enslave American scientists to a predetermined government-controlled paradigm. Instead of being truly free to exercise their minds and harvest the fruits of their labor, they will have to struggle through a limited amount of alternative energy choices (most of which are not economically viable) in their government-created jobs.
How much efficiency do you expect from that? Are you so naïve that you truly believe that this kind of arrangement can help America solve her energy problems? I fear that if we stifle the human mind, if we rob private companies of their profits in order to invest in dubious government enterprises, if we impoverish people through higher taxes and prices in order to force them to convert to more expensive and less efficient sources of energy, we will create more problems than we are now hoping to solve. It will put this country at a huge disadvantage compared to what is possible and to other countries. And what is worse than that is we will destroy private innovation that has always been a source of American wealth and prosperity.
Please, stop and think twice before you vote for any bill (this or any other) that will put private America in government chains. I believe that there are many other Americans who write petitions to you asking to support things like Cap and Trade or public healthcare. You have to remember that any such initiative will enslave one part of the population in order to serve the other part of the population. This is exactly the kind of democracy that our Founding Fathers were warning us against. When two wolves and a sheep decide what is for lunch the outcome is predictable. This country is a republic based on the rule of Law not the mob, and the Supreme Law of this country is the Constitution of the United States.
You have all taken an oath to uphold and protect the Constitution of the United States, and these kinds of bills are in complete violation of this monumental document. Stop thinking that more government is the solution to our problems. Stop thinking that you can please the ignorant masses by giving in to their irrational desires while violating the Constitution and the rights of the minorities, with the smallest minority being an individual. Don’t repeat the mistakes of the Soviets. More government is the problem that is now leading America on this path to nowhere.
Take a stand for freedom, this is what all free Americans expect from you. Don’t sacrifice the American principles for the sake of keeping your seat in Congress. You have to care about justice - an authentic justice based in reality, not some idea that does not work and makes no sense. You have to care about freedom and principles. You have to care about the real values that this country is based on, even if the majority sometimes thinks otherwise.
Remember it was not the majority that founded this country and its laws. It was not the majority that made this country great. It will never be the majority!
You have to take a stand. Simply voting or not voting is not enough anymore. You have to take a real stand for protection of the Constitution of the United States, for protection of the American principles and values. You have to take a real stand for the protection of individual rights. These rights do not include a free house, or a guaranteed job, or free healthcare. You have to take a stand and make yourself heard, so that others can join you! We have to save this country and what you are doing now is not helping this cause. You have to take a stand for what is right, not for what is required by the expediency of the moment!
We The People of this great country, the United States of America, are watching you!
Elena Carter
[Elena is a Russian translator and a co-owner of a fitness facility, East Cobb Exercise Excellence in Marietta, GA.]
Wednesday, July 8, 2009
Wednesday, October 1, 2008
Bail Bill Upholds Unreality - Kill It
Here is an article by Robert Tracinski who writes the TIA Daily column. I'm copying it whole as it is great to get your feet on the ground in terms of free market principles. Also, I must say that I am shocked regarding Bernake's complete disregard for what has the free market work. After reading this and his attempt at Czardom, I'm persuaded the guy is a psychopath.
TIA Daily • October 1, 2008
Kill the Bailout
The Government Can't Rewrite Reality
The House of Representatives deserves praise for taking swift action to avert a growing economic crisis—by not approving the trillion-dollar financial bailout plan.
The bailout bill was blocked Monday by a rebellion among House Republicans, who voted two-to-one against a plan they consider a step down the "slippery slope to socialism," in the words of Texas Representative Jeb Hensarling.
They are absolutely correct, and the 133 Republicans who voted to stop this coup against the financial markets—not to mention some of the 95 Democrats who may have balked for similar reasons—need to find the courage to stand firm. That's especially true since the Senate is likely to vote today to approve the bailout.
The Senate is supposed to serve, in James Madison's analogy, as the "cooling saucer" for the hot tea served up by the House—but in this case, it is the House that has remained cool and refused to panic. That's because the hysterical demand for a bailout didn't come up from the people; it came down from the elites in Washington and Manhattan. The House is reflecting the sensible skepticism coming up from the folks on Main Street who don't want to pay the bills for bailing out Hank Paulson's former colleagues on Wall Street.
Some cold, realistic scrutiny of the bailout is desperately needed because this plan is not just an attack on the free market. It is an attack on reality. The financial crisis was caused by more than a decade of using government power to rewrite the facts of reality and override the judgment of the market, and the bailout just offers more of the same fantasy economics.
Congress wanted everyone to be able to get a mortgage to buy a home, regardless of income, credit history, or ability to save for a down payment. The name for this contradiction was "affordable housing," an initiative aimed at providing the benefits of home ownership to those who could not, in fact, afford it. So when the market concluded that low-income borrowers could not meet the credit requirements for mortgages, the Clinton administration invoked trumped-up charges of racism to expand enforcement of the Community Reinvestment Act, bullying banks into dropping as "arbitrary" such old-fashioned credit standards as proof of income. And when the market balked at the increased credit risk created by these loans, Congress backed the expansion of Fannie Mae and Freddie Mac, government-sponsored enterprises that used federally guaranteed money to buy up the increasingly risky mortgages.
At every point, when the market sent the message that reality would not support the higher level of risk being taken on by mortgage lenders, the government used its power to override this message.
The vigorous government-created market for riskier "sub-prime" loans masked the real dangers, creating the illusion that increased profits could be obtained without increased risk—an illusion that encouraged some private lenders to follow Fannie and Freddie's lead. To be sure, some of this private risk-taking was part of the normal process of failure in a capitalist economy. A large part of the current financial upheaval originated with high-risk investment banks and hedge funds that held large amounts of mortgage-backed securities. These securities were carefully balanced against one another according to mathematical formulas that were calculated to cancel out their risks. But the mathematical formulas were new and hadn't been tested in a bear market. When the downturn came, they failed.
This is a normal part of the rough and tumble of capitalism. All of the current talk about the "failure" of the free market ignores the fact that the process of failure is a crucial benefit of the free market. In a capitalist system, high-risk firms are always trying out new and untested ideas, and failure is the messenger that tells the market which strategies work and which strategies don't. It is also an indispensable corrective mechanism that moves capital from enterprises with failing strategies to those with successful strategies.
But the Treasury Department and the Federal Reserve have repeatedly short-circuited this mechanism by trying to outlaw failure. When the market sent the message that too many bad loans had been made and that this needed to be corrected by a contraction in the amount of available credit, the government wanted to avoid the unpleasant consequences of such a contraction. So the Federal Reserve papered over the facts—with a flurry of paper money—by artificially reducing interest rates and loosening up credit just when it needed to be tightened.
But that didn't change the underlying facts, and the bad investments still went bad. Yet as the market has sent the message that some firms have become over-extended and are no longer solvent, the government has still tried to avoid letting the market face the facts. The Treasury and the Fed kept trying to rewrite reality by orchestrating a series of government-backed bailouts.
Over at RealClearMarkets, Joseph Calhoun points out a crucial part of this assault on facts:
There has always been a stigma attached to borrowing directly from the Fed and for good reason. If a bank can’t get other banks to lend it money, that tells the market something about the condition of the bank in question.
Last August, Bernanke convinced three large banks to borrow at the discount window in an effort to remove that stigma. When that didn’t work, he concocted a scheme to allow banks to borrow from the Fed in anonymity via a mechanism he called the Term Auction Facility. When Bear Stearns blew up, he added the Term Securities Lending Facility for investment banks. By removing the stigma of borrowing from the Fed and hiding the identity of the borrowers, Bernanke removed important information from the market.
So the Fed's approach to potential bank failures was to try to help failing banks pretend that they weren't failing.
Or consider the SEC's ban on short sales for a list of about 700 stocks—with more companies lobbying to get themselves put on the list. Again, the whole approach of the SEC is not to prevent companies from failing, but to help them pretend that they are not failing, by outlawing trades that would tend to drive their stock prices down.
In fact, all that this sort of policy has achieved is to expand business failures. When Lehman Brothers went bankrupt, for example, it had been in negotiations with several major financial institutions who were considering investing billions in a private buy-out of the firm. But they balked at making the deal because they were waiting for the Fed to offer incentives and guarantees. Thus, the Fed's yelping about how each bankruptcy of a Wall Street firm poses a risk of "systemic failure" turns out to be a self-fulfilling prophecy, because the prospect of an open-ended series of bailouts is blocking all of the mechanisms by which a free market actually prevents widespread failure.
The bailout package would have the government buy out up to $700 billion worth of bad loans. But this is merely delaying the re-pricing of those loans to their proper value. Left to themselves, the holders of these loans would eventually find it necessary to sell them at pennies on the dollar; Merrill Lynch sold its bad loans at 22 cents on the dollar. Private companies could then recognize the magnitude of the loss and start to rebuild their businesses with the remaining assets they possess. But now no firm has an incentive to sell off its bad loans. Why dump them for 22 cents on the dollar when the government might buy them, a few weeks later, at 50 or 80 cents?
So instead what is going to happen is that the federal government is going to go into the financial markets and dictate which securities are worth how much. It is still unclear exactly which loans the government will buy or how much it will pay for them, so no private investor can say whether an investment will pay off or not. This is how the prospect of a government bailout blocks the private buyouts that would actually clean all of the bad debt out of the system.
Instead, this plan transforms the US Treasury into a trillion-dollar hedge fund, making investments in securities whose proper market value is unknown and promising its shareholders—us—that unlike the best Wall Street investment banks, Treasury bureaucrats really know how to make a profit on sub-prime mortgage loans. That's why probably the best comment on the bailout is an e-mail making the rounds on Capitol Hill presenting Paulson's pitch for the bailout deal—in the style of a Nigerian banking scam. "I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude," it begins. Time to hit the "delete" button.
The bailout represents more of the same problems that got us here because it is backed by all of the same people who created those problems. And I'm not just talking about Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke, who organized the series of ad hoc bailouts that spread uncertainty through the financial industry. Much worse is the fact that a chief negotiator for the bailout is House Financial Services Committee Chairman Barney Frank, the chief sponsor of the "affordable housing" scam. And as for Barack Obama, Stanley Kurtz exposes the role played by ACORN, Obama's former employer as a "community organizer." It turns out that a big part of ACORN's "community organizing" was to use thug tactics and the threat of government regulation to intimidate banks into making high-risk mortgage loans.
Fortunately, the public has the good sense to smell that something is rotten. I just got an e-mail recounting what Virginia Representative Jim Moran told Fox News: that calls from constituents commenting on the bailout were running 50-50—50% "no" and 50% "hell, no."
The House should not simply delay the bailout bill or mitigate its worst features; that will prolong the uncertainty in the financial markets. Instead, they need to make sure that the bailout meets with firm and repeated rejection over the next week, preferably by a growing margin of votes.
It is time for the House to kill the bailout and kill it decisively.
It is time for Congress to stop the government from rewriting reality, so that the market can be free to recognize the facts, pick up the pieces of failing firms, and begin rebuilding.
TIA Daily • October 1, 2008
Kill the Bailout
The Government Can't Rewrite Reality
The House of Representatives deserves praise for taking swift action to avert a growing economic crisis—by not approving the trillion-dollar financial bailout plan.
The bailout bill was blocked Monday by a rebellion among House Republicans, who voted two-to-one against a plan they consider a step down the "slippery slope to socialism," in the words of Texas Representative Jeb Hensarling.
They are absolutely correct, and the 133 Republicans who voted to stop this coup against the financial markets—not to mention some of the 95 Democrats who may have balked for similar reasons—need to find the courage to stand firm. That's especially true since the Senate is likely to vote today to approve the bailout.
The Senate is supposed to serve, in James Madison's analogy, as the "cooling saucer" for the hot tea served up by the House—but in this case, it is the House that has remained cool and refused to panic. That's because the hysterical demand for a bailout didn't come up from the people; it came down from the elites in Washington and Manhattan. The House is reflecting the sensible skepticism coming up from the folks on Main Street who don't want to pay the bills for bailing out Hank Paulson's former colleagues on Wall Street.
Some cold, realistic scrutiny of the bailout is desperately needed because this plan is not just an attack on the free market. It is an attack on reality. The financial crisis was caused by more than a decade of using government power to rewrite the facts of reality and override the judgment of the market, and the bailout just offers more of the same fantasy economics.
Congress wanted everyone to be able to get a mortgage to buy a home, regardless of income, credit history, or ability to save for a down payment. The name for this contradiction was "affordable housing," an initiative aimed at providing the benefits of home ownership to those who could not, in fact, afford it. So when the market concluded that low-income borrowers could not meet the credit requirements for mortgages, the Clinton administration invoked trumped-up charges of racism to expand enforcement of the Community Reinvestment Act, bullying banks into dropping as "arbitrary" such old-fashioned credit standards as proof of income. And when the market balked at the increased credit risk created by these loans, Congress backed the expansion of Fannie Mae and Freddie Mac, government-sponsored enterprises that used federally guaranteed money to buy up the increasingly risky mortgages.
At every point, when the market sent the message that reality would not support the higher level of risk being taken on by mortgage lenders, the government used its power to override this message.
The vigorous government-created market for riskier "sub-prime" loans masked the real dangers, creating the illusion that increased profits could be obtained without increased risk—an illusion that encouraged some private lenders to follow Fannie and Freddie's lead. To be sure, some of this private risk-taking was part of the normal process of failure in a capitalist economy. A large part of the current financial upheaval originated with high-risk investment banks and hedge funds that held large amounts of mortgage-backed securities. These securities were carefully balanced against one another according to mathematical formulas that were calculated to cancel out their risks. But the mathematical formulas were new and hadn't been tested in a bear market. When the downturn came, they failed.
This is a normal part of the rough and tumble of capitalism. All of the current talk about the "failure" of the free market ignores the fact that the process of failure is a crucial benefit of the free market. In a capitalist system, high-risk firms are always trying out new and untested ideas, and failure is the messenger that tells the market which strategies work and which strategies don't. It is also an indispensable corrective mechanism that moves capital from enterprises with failing strategies to those with successful strategies.
But the Treasury Department and the Federal Reserve have repeatedly short-circuited this mechanism by trying to outlaw failure. When the market sent the message that too many bad loans had been made and that this needed to be corrected by a contraction in the amount of available credit, the government wanted to avoid the unpleasant consequences of such a contraction. So the Federal Reserve papered over the facts—with a flurry of paper money—by artificially reducing interest rates and loosening up credit just when it needed to be tightened.
But that didn't change the underlying facts, and the bad investments still went bad. Yet as the market has sent the message that some firms have become over-extended and are no longer solvent, the government has still tried to avoid letting the market face the facts. The Treasury and the Fed kept trying to rewrite reality by orchestrating a series of government-backed bailouts.
Over at RealClearMarkets, Joseph Calhoun points out a crucial part of this assault on facts:
There has always been a stigma attached to borrowing directly from the Fed and for good reason. If a bank can’t get other banks to lend it money, that tells the market something about the condition of the bank in question.
Last August, Bernanke convinced three large banks to borrow at the discount window in an effort to remove that stigma. When that didn’t work, he concocted a scheme to allow banks to borrow from the Fed in anonymity via a mechanism he called the Term Auction Facility. When Bear Stearns blew up, he added the Term Securities Lending Facility for investment banks. By removing the stigma of borrowing from the Fed and hiding the identity of the borrowers, Bernanke removed important information from the market.
So the Fed's approach to potential bank failures was to try to help failing banks pretend that they weren't failing.
Or consider the SEC's ban on short sales for a list of about 700 stocks—with more companies lobbying to get themselves put on the list. Again, the whole approach of the SEC is not to prevent companies from failing, but to help them pretend that they are not failing, by outlawing trades that would tend to drive their stock prices down.
In fact, all that this sort of policy has achieved is to expand business failures. When Lehman Brothers went bankrupt, for example, it had been in negotiations with several major financial institutions who were considering investing billions in a private buy-out of the firm. But they balked at making the deal because they were waiting for the Fed to offer incentives and guarantees. Thus, the Fed's yelping about how each bankruptcy of a Wall Street firm poses a risk of "systemic failure" turns out to be a self-fulfilling prophecy, because the prospect of an open-ended series of bailouts is blocking all of the mechanisms by which a free market actually prevents widespread failure.
The bailout package would have the government buy out up to $700 billion worth of bad loans. But this is merely delaying the re-pricing of those loans to their proper value. Left to themselves, the holders of these loans would eventually find it necessary to sell them at pennies on the dollar; Merrill Lynch sold its bad loans at 22 cents on the dollar. Private companies could then recognize the magnitude of the loss and start to rebuild their businesses with the remaining assets they possess. But now no firm has an incentive to sell off its bad loans. Why dump them for 22 cents on the dollar when the government might buy them, a few weeks later, at 50 or 80 cents?
So instead what is going to happen is that the federal government is going to go into the financial markets and dictate which securities are worth how much. It is still unclear exactly which loans the government will buy or how much it will pay for them, so no private investor can say whether an investment will pay off or not. This is how the prospect of a government bailout blocks the private buyouts that would actually clean all of the bad debt out of the system.
Instead, this plan transforms the US Treasury into a trillion-dollar hedge fund, making investments in securities whose proper market value is unknown and promising its shareholders—us—that unlike the best Wall Street investment banks, Treasury bureaucrats really know how to make a profit on sub-prime mortgage loans. That's why probably the best comment on the bailout is an e-mail making the rounds on Capitol Hill presenting Paulson's pitch for the bailout deal—in the style of a Nigerian banking scam. "I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude," it begins. Time to hit the "delete" button.
The bailout represents more of the same problems that got us here because it is backed by all of the same people who created those problems. And I'm not just talking about Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke, who organized the series of ad hoc bailouts that spread uncertainty through the financial industry. Much worse is the fact that a chief negotiator for the bailout is House Financial Services Committee Chairman Barney Frank, the chief sponsor of the "affordable housing" scam. And as for Barack Obama, Stanley Kurtz exposes the role played by ACORN, Obama's former employer as a "community organizer." It turns out that a big part of ACORN's "community organizing" was to use thug tactics and the threat of government regulation to intimidate banks into making high-risk mortgage loans.
Fortunately, the public has the good sense to smell that something is rotten. I just got an e-mail recounting what Virginia Representative Jim Moran told Fox News: that calls from constituents commenting on the bailout were running 50-50—50% "no" and 50% "hell, no."
The House should not simply delay the bailout bill or mitigate its worst features; that will prolong the uncertainty in the financial markets. Instead, they need to make sure that the bailout meets with firm and repeated rejection over the next week, preferably by a growing margin of votes.
It is time for the House to kill the bailout and kill it decisively.
It is time for Congress to stop the government from rewriting reality, so that the market can be free to recognize the facts, pick up the pieces of failing firms, and begin rebuilding.
Saturday, September 27, 2008
Democrat Rebuff of Fannie & Freddie Clean-up
This video speaks for itself. Caught red-handed!
And I'm supposed to think the Democrat Party is the best Party (maybe that should be a small "p") for the economy?
In the bailout bill being hammered out and festooned with earmarks right now, a huge grant of any profit (20%) is scheduled to go to ACORN, supposedly a low-end housing organization. What it really is a voter registration organization and its purpose it to register Democrats. It has been charged with illegal activities in a number of states. This is more corruption - pure and simple. Definitely it is an infringement of your right to free speech. Tax money extracted from you by force and given to an organization that may not express your views is a whopping injustice. By what Right? This is "Taxation without Representation!!"
!! N O P A S S !! N O P A S S !!
The CRISIS IN CONFIDENCE in the US Government worsens!
And I'm supposed to think the Democrat Party is the best Party (maybe that should be a small "p") for the economy?
In the bailout bill being hammered out and festooned with earmarks right now, a huge grant of any profit (20%) is scheduled to go to ACORN, supposedly a low-end housing organization. What it really is a voter registration organization and its purpose it to register Democrats. It has been charged with illegal activities in a number of states. This is more corruption - pure and simple. Definitely it is an infringement of your right to free speech. Tax money extracted from you by force and given to an organization that may not express your views is a whopping injustice. By what Right? This is "Taxation without Representation!!"
!! N O P A S S !! N O P A S S !!
The CRISIS IN CONFIDENCE in the US Government worsens!
Tuesday, August 5, 2008
Anti-Energy, Anti-production, Anti-human being
The Democrats have reached the apex of stubborn irrationality. For what? Misplaced environmental concerns that value snail darters and various species over the individual right to own, i.e., the use and disposal of, property and to take care of one's property including the species thereon as seen fit; and, for a global waming theory (alias climate change theory) that is not proven and for which data relentlessly piles up disproving it and which, if carried out, will completely upend the industrial economy that is in existence and on which we totally depend.
Neither of these motives are worth anything except as the basis for an over-reaching, unjust, and stupid power-lust run amok. These politicians and their hangers-on deserve to lose their influence as soon as it can be accomplished.
This video is a stark demonstration of how little the Democrats care about individual people in their daily lives (i.e., their right to their life) and our economy. This is stark irresponsibility and is utterly exasperating that it is going on, let alone continues. Get out of the way! Freedom immediately! Now is the time to deliver a "Come to Jesus" conversation to your Congressman.
Don't exclude McCain and many Republicans for their support of Environmentalism as Religion. They need a "Come to Jesus" talk too.
We as citizens are not free when it comes to economic activities - probably the bulk of our lives. The Civil Rights issue in this century, the 21st, is economic freedom - the individual right to apply one's reason, one's knowledge and one's ingenuity in one's economic decisions - which is essentially the right to own property, a corollary of the right to one's own life.
The ultimate individual right is the right, unfettered by government interference unless one commits a crime against another, to fully use one's mind since it is man's basic means of survival. Rather, we are as pets in a cage with the government as pet farmer.
I'm sorry, but I hate my master. And the last thing I want them to do for me is to care. I just went them to do their goddammed job set forth in the Constitution and which they have under oath agreed to do.
Neither of these motives are worth anything except as the basis for an over-reaching, unjust, and stupid power-lust run amok. These politicians and their hangers-on deserve to lose their influence as soon as it can be accomplished.
This video is a stark demonstration of how little the Democrats care about individual people in their daily lives (i.e., their right to their life) and our economy. This is stark irresponsibility and is utterly exasperating that it is going on, let alone continues. Get out of the way! Freedom immediately! Now is the time to deliver a "Come to Jesus" conversation to your Congressman.
Don't exclude McCain and many Republicans for their support of Environmentalism as Religion. They need a "Come to Jesus" talk too.
We as citizens are not free when it comes to economic activities - probably the bulk of our lives. The Civil Rights issue in this century, the 21st, is economic freedom - the individual right to apply one's reason, one's knowledge and one's ingenuity in one's economic decisions - which is essentially the right to own property, a corollary of the right to one's own life.
The ultimate individual right is the right, unfettered by government interference unless one commits a crime against another, to fully use one's mind since it is man's basic means of survival. Rather, we are as pets in a cage with the government as pet farmer.
I'm sorry, but I hate my master. And the last thing I want them to do for me is to care. I just went them to do their goddammed job set forth in the Constitution and which they have under oath agreed to do.
Tuesday, July 22, 2008
The Unfree Market has Failed
With the economy slowing and the home mortgage industry reeling from the stupidity of government fostered regulations and money which obviated the need for sound financial judgment, we hear frantic cries, "Save us! Save us!!" directed to the government. If a person is trying to drown you, what good is it to scream for him to save you? Alas, this is the widespread response.
I read an argument last night the point of which was that gas prices are rising not because of rising demand but inflation. I hear scant mention of inflation as the cause and none of those come from Washington. We know when other currencies are rising relative to the dollar our currency is worth less. The dollar has been the currency of choice around the world for years and now people don't want it.
Government control of the money supply is certain, albeit sometimes slow, death and the expanding (once in a while it deflates) money bubble is where we have been perched for about a hundred years. Obviously money is something whose reputation has to be earned, as we are now seeing. It is done by the judicious maintenance of value, a quality that the US Government cancelled via the legal tender laws. See below: Money by Consent Not Force posted June 20.
The government is a political institution, not a business that must maintain its value to the world in order to exist. The governement deals with everything by the use of force, not value, and once it steps beyond the protection of individual rights, that force becomes an enemy of its people.
Every major industry is now regulated to the point that people cannot make rational decisions. Time is spent doing what we can get permission to do rather than what is creative, intelligent and prudent. The human mind is the source of values, production, wealth and happiness. The government, on the other hand, acting beyond its proper purpose, cancels the human mind except as a slave to its needs and whims.
Bribes to the legislators and regulators are commonplace because no other way to get their blessing to be their slave is possible. If you don't know how you are paying them bribes, think about it a minute. You buy a license to drive your car. You buy a license to open a business. You pay them fees and taxes to have a phone. The list is endless and would not be if these goods and services were the products of businesses creating appealing values and we were free. Now isn't this a mess? Nevertheless, it's true.
Government to Blame for Housing and Financial Crisis
by Yaron Brook (7/22/08)
Irvine, CA--In “The Government Did It,” an opinion piece published last Friday on Forbes.com, Dr. Yaron Brook, president and executive director of the Ayn Rand Institute, argued that our government’s massive control over the housing and financial markets has led to many of the problems being blamed on the free market today.
“The financial peril of Fannie Mae and Freddie Mac,” Dr. Brook pointed out, “should help expose the lie that today’s financial problems are the result of an insufficiently regulated market.”
Citing the government’s hand in the creation of Fannie Mae and Freddie Mac, the Federal Reserve Board’s inflationary policy of keeping interest rates artificially low, the irrational lending standards forced on lenders by the federal Community Reinvestment Act, and the quasi-official policy of bailing out large financial institutions deemed too big to fail, Dr. Brook argued that “our government contributed to creating a situation in which millions of people were buying homes they could not afford, in which the participants experienced the illusion of prosperity, in which billions upon billions of dollars were going into bad investments. Eventually,” Brook concluded, “the bubble burst.”
“We do not need more regulation or economic ‘steering.’ What we need to do,” said Brook, “is remove the government’s power to coerce, bribe, reward and bail out irrational decisions. The unfree market has failed. It’s time for a truly free market.”
Yaron Brook is president and executive director of the Ayn Rand Institute.
Copyright © 2008 Ayn Rand® Institute. All rights reserved.
I read an argument last night the point of which was that gas prices are rising not because of rising demand but inflation. I hear scant mention of inflation as the cause and none of those come from Washington. We know when other currencies are rising relative to the dollar our currency is worth less. The dollar has been the currency of choice around the world for years and now people don't want it.
Government control of the money supply is certain, albeit sometimes slow, death and the expanding (once in a while it deflates) money bubble is where we have been perched for about a hundred years. Obviously money is something whose reputation has to be earned, as we are now seeing. It is done by the judicious maintenance of value, a quality that the US Government cancelled via the legal tender laws. See below: Money by Consent Not Force posted June 20.
The government is a political institution, not a business that must maintain its value to the world in order to exist. The governement deals with everything by the use of force, not value, and once it steps beyond the protection of individual rights, that force becomes an enemy of its people.
Every major industry is now regulated to the point that people cannot make rational decisions. Time is spent doing what we can get permission to do rather than what is creative, intelligent and prudent. The human mind is the source of values, production, wealth and happiness. The government, on the other hand, acting beyond its proper purpose, cancels the human mind except as a slave to its needs and whims.
Bribes to the legislators and regulators are commonplace because no other way to get their blessing to be their slave is possible. If you don't know how you are paying them bribes, think about it a minute. You buy a license to drive your car. You buy a license to open a business. You pay them fees and taxes to have a phone. The list is endless and would not be if these goods and services were the products of businesses creating appealing values and we were free. Now isn't this a mess? Nevertheless, it's true.
Government to Blame for Housing and Financial Crisis
by Yaron Brook (7/22/08)
Irvine, CA--In “The Government Did It,” an opinion piece published last Friday on Forbes.com, Dr. Yaron Brook, president and executive director of the Ayn Rand Institute, argued that our government’s massive control over the housing and financial markets has led to many of the problems being blamed on the free market today.
“The financial peril of Fannie Mae and Freddie Mac,” Dr. Brook pointed out, “should help expose the lie that today’s financial problems are the result of an insufficiently regulated market.”
Citing the government’s hand in the creation of Fannie Mae and Freddie Mac, the Federal Reserve Board’s inflationary policy of keeping interest rates artificially low, the irrational lending standards forced on lenders by the federal Community Reinvestment Act, and the quasi-official policy of bailing out large financial institutions deemed too big to fail, Dr. Brook argued that “our government contributed to creating a situation in which millions of people were buying homes they could not afford, in which the participants experienced the illusion of prosperity, in which billions upon billions of dollars were going into bad investments. Eventually,” Brook concluded, “the bubble burst.”
“We do not need more regulation or economic ‘steering.’ What we need to do,” said Brook, “is remove the government’s power to coerce, bribe, reward and bail out irrational decisions. The unfree market has failed. It’s time for a truly free market.”
Yaron Brook is president and executive director of the Ayn Rand Institute.
Copyright © 2008 Ayn Rand® Institute. All rights reserved.
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