CultureCitizen
Silver Member
- Jun 1, 2013
- 1,932
- 140
Even if that were the case, Socialism IS a crash. It destroys every Nation stupid enough to practice it. On the upside, at least you are a great example of what NOT to think.9/11, and the Federal Reserve Fund caused too much money to be channeled into higher asset prices like real estate and stocks rather than the price of consumer goods. So, yeah, terrorism and the government.The greatest Depression in history was caused by the government, and the most recent recession was perpetuated by the government. Your argument is invalid.
this is true, at time of collapse Fan/Fred owned or guaranteed 75% of the Alt A and subprime mortgages. They were created to get people into homes the Republican free market said they could not afford. And that is only beginning to list lib govt interference with the free market.
Ed, you are famous for discussing topics without a Iota of evidence to support your words.
The bottom line here: there is significant evidence that capitalism is not stable by itself.
It can be argued that government intervention caused the crash ( predatory lending notwithstanding).
But then , what about the 2001 crisis ? Was that too fueled by government intervention?
There was a stock bubble for starters. Where was the self regulation there ?
Capitalism is inherently stable and self-regulating? Sure, it just needs a crash to get on track again.
That's like saying a blind man is on course. Sure he will correct course once he bumps into a wall ... or falls from a cliff.
Terrorists? Gimme a break , the stock had already crashed by 9/11/2001.
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Now who is showing up with a strawman argument?
I didn't advocate socialism. I simply said that capitalism is NOT stable.
My argument is that public regulations and institutions are needed to regulate capitalism, this is in contrast with your previous statements saying that all crisis are created by government regulations and interventions.
Sure, government can misallocate resources, but that doesn't mean the private sector and the market don't make the same mistakes.
Back to Milton, in the video he was actually calling for government intervention AFTER the fact ( the '29 crisis): print money to pump up the reserves.
That said, most countries are mixed economies, with the government performing some tasks and the corporations providing other goods and services.
Balancing what should be done by each sector is a delicate matter.
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