Since the free market is self-correcting it is 100% impossible for it to have.....

[EdwardBaiamonte]

caused this great recession which has left 22 million unemployed. Yet liberals persist in blaming the free market. How can this be??

 

[TheOldSchool]

Capitalism and free markets are important. But it is not a magical process that benefits everyone and the "invisible hand" is not real. Unrestrained capitalism could greatly improve the economy if we, say, let kids work for a dollar.

When Adam Smith invented the concept of the "invisible hand" to describe the self regulation of markets it was before large-scale industry, the internet, advertising, stock markets...

 

[EdwardBaiamonte]

the "invisible hand" is not real.

can you say why or must you admit as a liberal you're IQ is too low to do so??

 

[Procrustes Stretched]

caused this great recession which has left 22 million unemployed. Yet liberals persist in blaming the free market. How can this be??

Referring to his free-market ideology, Mr. Greenspan added: “I have found a flaw. I don’t know how significant or permanent it is. But I have been very distressed by that fact.”

Mr. Waxman pressed the former Fed chair to clarify his words. “In other words, you found that your view of the world, your ideology, was not right, it was not working,” Mr. Waxman said.

“Absolutely, precisely,” Mr. Greenspan replied. “You know, that’s precisely the reason I was shocked, because I have been going for 40 years or more with very considerable evidence that it was working exceptionally well.”

and

[youtube]bAH-o7oEiyY[/youtube]

 

[Procrustes Stretched]

the "invisible hand" is not real, for the same reasons the Easter Bunny and Casper the Friendly Ghost aren't real

the "invisible hand" is not real.

can you say why or must you admit as a liberal you're IQ is too low to do so??

 

[TheOldSchool]

the "invisible hand" is not real.

can you say why or must you admit as a liberal you're IQ is too low to do so??

Wow what a lovely way to ask me to expand. Why don't you prove to me that it is. Der when supply goes up demand goes down me am super smart now.

We had unrestrained capitalism once. As time passed it was found to be undesirable. Now the "invisible hand" is guided by regulation. Child labor is bad, safety is good, abusing people is bad, taking advantage of people is bad.

 

[alan1]

Capitalism and free markets are important. But it is not a magical process that benefits everyone and the "invisible hand" is not real. Unrestrained capitalism could greatly improve the economy if we, say, let kids work for a dollar.

When Adam Smith invented the concept of the "invisible hand" to describe the self regulation of markets it was before large-scale industry, the internet, advertising, stock markets...

Free market capitalism certainly doesn't benefit all equally. It was never meant to act that way. It was meant to offer all the equal opportunity, but with different outcomes.
In today's USA, we have more or a "Crony Capitalism", guided by a government hand.

Oh, and yer statement, "if we, say, let kids work for a dollar", is red herring.

 

[joewp]

There's no such thing as a 'free market' when the money supply is manipulated by the bankers.

Capitalism and free markets are important. But it is not a magical process that benefits everyone and the "invisible hand" is not real. Unrestrained capitalism could greatly improve the economy if we, say, let kids work for a dollar.

When Adam Smith invented the concept of the "invisible hand" to describe the self regulation of markets it was before large-scale industry, the internet, advertising, stock markets...

Free market capitalism certainly doesn't benefit all equally. It was never meant to act that way. It was meant to offer all the equal opportunity, but with different outcomes.
In today's USA, we have more or a "Crony Capitalism", guided by a government hand.

Oh, and yer statement, "if we, say, let kids work for a dollar", is red herring.

 

[EdwardBaiamonte]

There's no such thing as a 'free market' when the money supply is manipulated by the bankers.

well, it depends on how it is manipulated. If it is manipulated to insure no inflation or deflation then you have a free market.

 

[TheOldSchool]

Capitalism and free markets are important. But it is not a magical process that benefits everyone and the "invisible hand" is not real. Unrestrained capitalism could greatly improve the economy if we, say, let kids work for a dollar.

When Adam Smith invented the concept of the "invisible hand" to describe the self regulation of markets it was before large-scale industry, the internet, advertising, stock markets...

Free market capitalism certainly doesn't benefit all equally. It was never meant to act that way. It was meant to offer all the equal opportunity, but with different outcomes.
In today's USA, we have more or a "Crony Capitalism", guided by a government hand.

Oh, and yer statement, "if we, say, let kids work for a dollar", is red herring.

I'll agree our current form of capitalism isn't the best. I agree more with Republicans on economic issues. Used to vote that way before Bush. I can't wait until a good conservative pops up on the scene.

 

[EdwardBaiamonte]

I'll agree our current form of capitalism isn't the best.

dear, we are in a huge recession caused by huge government interference with capitalism so it is not accurate to call it capitalism!!

Can you grasp that??

 

[Procrustes Stretched]

Capitalism and free markets are important. But it is not a magical process that benefits everyone and the "invisible hand" is not real. Unrestrained capitalism could greatly improve the economy if we, say, let kids work for a dollar.

When Adam Smith invented the concept of the "invisible hand" to describe the self regulation of markets it was before large-scale industry, the internet, advertising, stock markets...

Free market capitalism certainly doesn't benefit all equally. It was never meant to act that way. It was meant to offer all the equal opportunity, but with different outcomes.
In today's USA, we have more or a "Crony Capitalism", guided by a government hand.

Oh, and yer statement, "if we, say, let kids work for a dollar", is red herring.

you sound like the Marxist Communist diehards who says "In today's world, we have more or a "Crony Communism", guided by a government hand."

Every economic theory has problems standing up to scrutiny in the real world

Every purist is an imbecile.

 

[Procrustes Stretched]

I'll agree our current form of capitalism isn't the best.

dear, we are in a huge recession caused by huge government interference with capitalism so it is not accurate to call it capitalism!!

Can you grasp that??

another ideological purist arguing nonsense?

 

[oldfart]

Wow what a lovely way to ask me to expand. Why don't you prove to me that it is. Der when supply goes up demand goes down me am super smart now.

We had unrestrained capitalism once. As time passed it was found to be undesirable. Now the "invisible hand" is guided by regulation. Child labor is bad, safety is good, abusing people is bad, taking advantage of people is bad.

First, Ed is our combination of troll and village idiot. Please do not feed him.

There is no logic that is effective against delusional behavior.

 

[Billo_Really]

dear, we are in a huge recession caused by huge government interference with capitalism so it is not accurate to call it capitalism!!

Can you grasp that??

There was more regulation during the Clinton Presidency when we had 8 straight years of growth.

Care to explain that?

 

[Procrustes Stretched]

dear, we are in a huge recession caused by huge government interference with capitalism so it is not accurate to call it capitalism!!

Can you grasp that??

There was more regulation during the Clinton Presidency when we had 8 straight years of growth.

Care to explain that?

In 1999, Bill Clinton signed the Gramm-Leach-Bliley Act.

 

[EdwardBaiamonte]

dear, we are in a huge recession caused by huge government interference with capitalism so it is not accurate to call it capitalism!!

Can you grasp that??

There was more regulation during the Clinton Presidency when we had 8 straight years of growth.

Care to explain that?

In 1999, Bill Clinton signed the Gramm-Leach-Bliley Act.

which is usually seen as Republican deregulation, but in any case is irrelevent since it had nothing to do with the current housing recession which was caused mostly by regulation from Fed Fanny Freddy CRA FDIC FHA all of which were trying to subvert the Republican free market to get people into homes the free market said they could not afford.

 

[Procrustes Stretched]

There was more regulation during the Clinton Presidency when we had 8 straight years of growth.

Care to explain that?

In 1999, Bill Clinton signed the Gramm-Leach-Bliley Act.

which is usually seen as deregulation, but in any case is irrelevent since it had nothing to do with the current housing recession that was caused mostly by regulation from Fed Fanny Freddy CRA FDIC FHA.

only one of the top 25 subprime lenders in 2006 was subject to affordable-housing laws

Barney Frank didn?t cause the housing crisis - The Washington Post

In 2009 Frank responded to what he called "wholly inaccurate efforts by Republicans to blame Democrats, and [me] in particular" for the subprime mortgage crisis, which is linked to the financial crisis of 2007–2009.

He outlined his efforts to reform these institutions and add regulations, but met resistance from Republicans, with the main exception being a bill with Republican Mike Oxley that died because of opposition from President Bush.

The 2005 bill included Frank objectives, which were to impose tighter regulation of Fannie and Freddie and new funds for rental housing. Frank and Mike Oxley achieved broad bipartisan support for the bill in the Financial Services Committee, and it passed the House.

But the Senate never voted on the measure, in part because President Bush was likely to veto it. "If it had passed, that would have been one of the ways we could have reined in the bowling ball going downhill called housing," Oxley told Frank.

In an op-ed piece in the Wall Street Journal, Lawrence B. Lindsey, a former economic adviser to President George W. Bush, wrote that Frank "is the only politician I know who has argued that we needed tighter rules that intentionally produce fewer homeowners and more renters."

Once control shifted to the Democrats, Frank was able to help guide both the Federal Housing Reform Act (H.R. 1427) and the Mortgage Reform and Anti-Predatory Lending Act (H.R. 3915) to passage in 2007.[53] Frank also said that the Republican-led Gramm–Leach–Bliley Act of 1999, which repealed part of the Glass–Steagall Act of 1933 and removed the wall between commercial and investment banks, contributed to the financial meltdown.[53] Frank stated further that "during twelve years of Republican rule no reform was adopted regarding Fannie Mae and Freddie Mac. In 2007, a few months after I became the Chairman, the House passed a strong reform bill; we sought to get the [Bush] administration's approval to include it in the economic stimulus legislation in January 2008; and finally got it passed and onto President Bush's desk in July 2008. Moreover, "we were able to adopt it in nineteen months, and we could have done it much quicker if the [Bush] administration had cooperated."

 

[Dugdale_Jukes]

There's no such thing as a 'free market' when the money supply is manipulated by the bankers.

well, it depends on how it is manipulated. If it is manipulated to insure no inflation or deflation then you have a free market.

Edmund, your statement above is among the finest representations of Greenspan-channeled-thru-Carroll bloviations of meaningless gibberish ever put in the public domain.

Carroll's Queen of Hearts couldn't touch Greenspan; after reading your explanation of how manipulation ensures free markets one wonders if you were doing Greenie's ghost writing?

 

[EdwardBaiamonte]

There's no such thing as a 'free market' when the money supply is manipulated by the bankers.

well, it depends on how it is manipulated. If it is manipulated to insure no inflation or deflation then you have a free market.

Edmund, your statement above is among the finest representations of Greenspan-channeled-thru-Carroll bloviations of meaningless gibberish ever put in the public domain.

Carroll's Queen of Hearts couldn't touch Greenspan; after reading your explanation of how manipulation ensures free markets one wonders if you were doing Greenie's ghost writing?

if you find my statement in red above incorrect please say exactly why or admit before the entire world that as a typical liberal you lack the IQ to do so.