Democrats must pin the global economic collapse...

[WhaTHellsgoingonhere]

...squarely at the feet of "free market" Libertarians (Republicans will suffice) by explaining to Americans an uncomplicated and easy to understand fact about libertarianism: a global economic meltdown is, in fact, a predictable outcome of a global economic libertarian model. This is what libertarians call "markets correcting themselves." And when markets correct in a global libertarian model, people lose their savings, their jobs, and their homes. And when people lose their savings, their jobs, and their homes, the economy remains on the precipice of depression for years. Libertarians naively believed that this function of "free markets" was an inherent good of a model they simply didn't understand and have since abandoned as quickly as they could by blaming the depression on Democrats and President Obama when it was they who, in fact, were the architects of the model.

[mdmc]

1. free market libertarians caused the global economic collapse?

[JHB]

2. Yes.

[mdmc]

3. long live socailism

the only anti-free trade solution out there that I know of..

[JHB]

8. Is "socailism" a peculiar term for regulation and structural safeguards?

If it isn't, then what you "know of" comes up a little short.

[mdmc]

9. regulation and safeguards

gotta protect your economy..

[WhaTHellsgoingonhere]

4. fraud is perfectly acceptable...

...in a libertarian model. Once you realize that, you can understand why (government) regulation is evil to libertarians.

Yes. Libertarians caused the global economic collapse.

It's pretty easy to explain. Not to pick on you, but it's truly a shame that it comes as a surprise to you. People need to understand this. It's not complicated.

[mdmc]

10. are all free traders "libertarians"?

I've thought of "libertarians" kinda like "greens" - they are a political party that goes no where. Yet somehow they destroy the world economy..

[WhaTHellsgoingonhere]

13. More accurate to say, all Libertarians are free market zealots

Don't be mistaken, they've indoctrinated and dominated the socio-political and economic discourse for 30 years (Reaganomics).

But they believe in a world that doesn't exist.

Bill Maher noted that they even campaign against a president that doesn't exist. They have to invent "Obama" -- the Muslim foreigner who goes around apologizing for America and is sympathetic toward terrorists -- because running against reality is too much for people who spend their lives inside an impenetrable bubble to bear.

EDIT: I should add, Clinton was complicit in deregulation and black markets, too!

[mdmc]

15. thanks for the reply

peace

[WhaTHellsgoingonhere]

17. thank you, friend!

[MisterP]

5. and, 2. not accept Wall Street worship themselves

[nanabugg]

6. It's this simple: world-wide greed and corruption, no regulation, and fat cats not paying taxes...

just ask Greece.

[WhaTHellsgoingonhere]

7. the flawed thinking of The Wizard of Libertarians and Randians

Greenspan believed that honest CEOs will prevent any material corporate fraud. Further, there is no serious problem because markets force CEOs to act as if they were honest since a good reputation is essential to the CEO. Under laissez faire, "frauds" had to adhere to a more ethical standard in their market transactions, or they risked being driven out of business (i.e., free markets correct).

Or in more simple terms, CEOs are virtuous, and a CEO who deviates from the ethical standard will be put out of business as markets correct. As a result, fraud need not be policed.

It turns out that Greenspan's blind spot was that unethical frauds would choose to collude and place their own avarice above the viability of their business.

They never understood their own model.

Seriously.

[DianaForRussFeingold]

11. Bingo! Deregulation..

...of markets,banks,housing,oil Companies, Etc...

"Their actions in overturning Glass-Steagall and removing other protections led directly to the financial collapse of 2008."
Rachel Maddow Show:

Their Hero Ayn Rand...
-

[JNathanK]

16. There's actually a number of tea party candidates that openly cite her as an inspiration.

The irony, of course, is that many of them are evangelical Christians, and she actually derided Christianity because of its altruistic outlook.

[Bigmack]

12. I'm reading "Pity the Billionaire" by Thomas Frank..

.. the guy who wrote "What's the Matter With Kansas?"

He's great at describing how the RW has framed this whole mess as the fault of the Liberal/Socialist/Commies, and framed the banksters as the victims.

He points out that every other crash/recession/depression has led to a Liberal resurgence.

This time, the RW is the one doing the resurgence.

Outstanding book.... enraging & depressing.. but outstanding.

[JNathanK]

14. They're like Marxist-Leninist idealogues in reverse.

They're just as self righteous, and when there's a problem with the economy directly related to their policies, its by no means their fault. Their solution is that their ideology hasn't been applied strictly enough.

Communists basically want the economy to collapse, so that it sparks worldwide revolution. Libertarians want the economy to collapse, because they can use it as a pretense for privatization. They both get off to and look forward to tragedy in a similar manner.

[WhaTHellsgoingonhere]

18. "Their solution is that their ideology hasn't been applied strictly enough."

I have a friend who said virtually those words. He "explained" to me that the problem was that Greenspan tinkered in the economy too much. Greenspan should have followed his own doctrine and stayed out of the markets all together.

I'm sorry, Libertarian Randian, but did you say something about accountability and personal responsibility?